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Nairaland Forum / Nairaland / General / Business / CBN Probes Naira Depreciation In Parallel Market (17819 Views)
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Re: CBN Probes Naira Depreciation In Parallel Market by Firefire(m): 8:12pm On Jul 17, 2015 |
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Re: CBN Probes Naira Depreciation In Parallel Market by Bonuwa: 8:12pm On Jul 17, 2015 |
So up till now some ppl r still fooling dia self ova naija naira .u want 2 tell me dat u don't knw d cus of naira depreciation? I pity dis country cus we r overwhelm wit evil |
Re: CBN Probes Naira Depreciation In Parallel Market by salaboiz(m): 8:12pm On Jul 17, 2015 |
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Re: CBN Probes Naira Depreciation In Parallel Market by ifeelgood: 8:14pm On Jul 17, 2015 |
Neduzze5:You're always on drugs. 1 Like |
Re: CBN Probes Naira Depreciation In Parallel Market by mytime24(f): 8:16pm On Jul 17, 2015 |
#Change indeed |
Re: CBN Probes Naira Depreciation In Parallel Market by Neduzze5(m): 8:16pm On Jul 17, 2015 |
ifeelgood: Sold by you? |
Re: CBN Probes Naira Depreciation In Parallel Market by nijanigga: 8:16pm On Jul 17, 2015 |
Nigerian is falling no market, that's what need to be probed. If oil price rises to $100/barrel today, dollars won't be scarce anymore. Nigeria should produce more goods for export to earn more $$$$$. Nigeria is a consuming nation,we don't produce anything than scammers and drug pushers. Better die pushing drugs in Indonesia and get rich than not trying. |
Re: CBN Probes Naira Depreciation In Parallel Market by Immatex(m): 8:16pm On Jul 17, 2015 |
Aboki change my dollar $1 for N242 Aboki refused but only to me at $1 for N185 But when I returned to buy same dollars I sold, I bought at N245 to $1 So, it goes to show that this dollar issue is only a sabotage by the Northern BDC operators against a South-eastern CBN governor. It is the case of giving a dog a bad name so as to hang him. Soon Mr. President will terminate the appointment of the governor. Then the coup would have succeeded. Buhari can never be trusted if he continues his divisive governance. |
Re: CBN Probes Naira Depreciation In Parallel Market by jaybee3(m): 8:16pm On Jul 17, 2015 |
How come they didn't bother to proofread the article before posting it on their website? How could it have depreciated by 42 naira if the baseline value as at June 28 is 220 naira Surely it's a very simple subtraction which would have enabled them arrive at N22 |
Re: CBN Probes Naira Depreciation In Parallel Market by atlwireles: 8:17pm On Jul 17, 2015 |
When demand exceeds supply you have high prices. Mr CBN that's the reason. |
Re: CBN Probes Naira Depreciation In Parallel Market by menshealth1234: 8:20pm On Jul 17, 2015 |
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Re: CBN Probes Naira Depreciation In Parallel Market by Nobody: 8:20pm On Jul 17, 2015 |
Neduzze5: Where did buhari promised $1 to be equal to N1? 1 Like |
Re: CBN Probes Naira Depreciation In Parallel Market by Dollyak(f): 8:21pm On Jul 17, 2015 |
Sincerely the sooner PMB act on the advice of the Economist Magazine about the CBN Governor, the better for Nigeria economy. The Fed/Treasury Department can track every dollar transaction globally but our CBN need physical presence to know how the Dollar they sold to forex Dealers are being used. How sad! |
Re: CBN Probes Naira Depreciation In Parallel Market by Neduzze5(m): 8:21pm On Jul 17, 2015 |
Re: CBN Probes Naira Depreciation In Parallel Market by Donalleh(m): 8:22pm On Jul 17, 2015 |
hmmmmm |
Re: CBN Probes Naira Depreciation In Parallel Market by Nobody: 8:22pm On Jul 17, 2015 |
Neduzze5: Olorishiiiii |
Re: CBN Probes Naira Depreciation In Parallel Market by GenOrumov: 8:23pm On Jul 17, 2015 |
Misanthrope: Devaluing will only work in an ideal society but you and I know Nigeria is not an ideal society. Further devaluing of the naira will practically kill Nigerians while investors will so rape the naira that it may sky rocket to N350 to 1 dollar. I don't have to tell you what that implication will mean for Nigerians and its economy. |
Re: CBN Probes Naira Depreciation In Parallel Market by Stycon(m): 8:25pm On Jul 17, 2015 |
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Re: CBN Probes Naira Depreciation In Parallel Market by menshealth1234: 8:25pm On Jul 17, 2015 |
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Re: CBN Probes Naira Depreciation In Parallel Market by Stycon(m): 8:25pm On Jul 17, 2015 |
#Save_Our_NAIRA! (SON) #Save_Our_Economy! |
Re: CBN Probes Naira Depreciation In Parallel Market by Kayendy(m): 8:29pm On Jul 17, 2015 |
I blame everyone for dis.... how many of us talking buys made in nigeria products so y won't importation be high... Govt needs to find an alternative for oil for d economy.... so practically it is everyone's fault dat naira will continue to depreciate against d dollar 2 Likes |
Re: CBN Probes Naira Depreciation In Parallel Market by BizBayo: 8:31pm On Jul 17, 2015 |
san316: I use to say this but most people won't understand. I do wonder why people see the parallel market rate as something serious. The naira is not weak to that extent. The BDC rate is artificial. I do not support CBN giving more dollars to them. It will surely affect that policy to strengthen the naira. |
Re: CBN Probes Naira Depreciation In Parallel Market by Misanthrope: 8:31pm On Jul 17, 2015 |
GenOrumov: I concede to your argument, but you have to understand how inevitable this decision is, just take a look at the Greek debt crisis, they would have devalued their currency a long time ago assuming they are not under the Eurozone. And yes, Nigeria is not an ideal society, but somethings are inevitable. Not devaluing it will only exacerbate the whole issue. |
Re: CBN Probes Naira Depreciation In Parallel Market by BizBayo: 8:34pm On Jul 17, 2015 |
Kayendy: nice words, we are all responsible for it. |
Re: CBN Probes Naira Depreciation In Parallel Market by GenOrumov: 8:35pm On Jul 17, 2015 |
Immatex: Either you are plain ignorant of what basic economics is in a country like Nigeria where things are upside down (which is caused by greedy people) or you're just not knowledgeable in anything. What is happening wasn't caused by northern BDC's just for the sole purpose of discrediting the CBN governor but by thieves and greedy people who want to make quick bucks by forcing the naira down by all means and knowing they can get away with it because its Nigeria. Even if a foreigner heads the CBN, these crooks will do the same thing over again. They won't have a problem with any CBN governor notwithstanding wherever he's from so far he allows them have a field day against Nigeria's economy and the naira. |
Re: CBN Probes Naira Depreciation In Parallel Market by engrjacuzzi: 8:37pm On Jul 17, 2015 |
still waiting for the man who said he will make #1 equivalent to 1 dollar. |
Re: CBN Probes Naira Depreciation In Parallel Market by abouzaid: 8:37pm On Jul 17, 2015 |
san316:pls nobody is accusing anybody of sabotage, what they are trying to say is that during gej administration,okonjo iweala was using our foreign reserves to defend the naira by selling more forex to the importers thereby relieving the pressure on the naira but buhari preferred to be saving the foreign reserves abroad denying foreign exchange to importers of certain goods like cement thereby mounting pressure on the naira as these importers start buying from the black market which is perfectly legal since Nigeria is operating a two tier exchange market. the solution is for the cbn to go back to okonjo iweala method. 1 Like |
Re: CBN Probes Naira Depreciation In Parallel Market by Coolcash1: 8:42pm On Jul 17, 2015 |
Misanthrope: Your comment seems confusing. If you say currency depreciation is normal. Can you please expantiate. 1 Like |
Re: CBN Probes Naira Depreciation In Parallel Market by globalresource: 8:44pm On Jul 17, 2015 |
I am pleading on behalf of the Nigerian importers. pls help clean up this naira depreciation mess. |
Re: CBN Probes Naira Depreciation In Parallel Market by GudluckIBB(m): 8:44pm On Jul 17, 2015 |
Emeiefele caused this wahala by asking Bdc to recapitalize People will want to recoup their money back na! Emiefele is as clueless as jonathan |
Re: CBN Probes Naira Depreciation In Parallel Market by GenOrumov: 8:47pm On Jul 17, 2015 |
Misanthrope: It may be inevitable but at this time it is not an option. You and I know that whatever goes up in Nigeria hardly comes down. Devaluing the Naira should only be carried out WHEN WE HAVE EXCEEDED ALL OPTIONS. The FGovernment now has to put measures in place, accelerate it and follow it down to the letter. |
Re: CBN Probes Naira Depreciation In Parallel Market by Coolcash1: 8:48pm On Jul 17, 2015 |
Immatex: This is the dumbest post ever on NL....Stop celebrating your ignorance publicly. If you don't have any sensible thing to say its more honourable you just take a walk. |
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