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Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 (28994 Views)

Naira Rebounds, Gains Across Markets / Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate / Naira Gains As CBN Clearing Rate Weakens Against Dollar (2) (3) (4)

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Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by omoadeleye(m): 10:56pm On Jul 22, 2015
H
Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by kwenu: 10:56pm On Jul 22, 2015
which kind temptation be dis again. heh . after person don quit YY

3 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by DworldsGM: 10:58pm On Jul 22, 2015
bigneorapz:
it will only be a good news if the price of infinix zero2 in jumia will reduce grin

i feel your drive

3 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by fydence: 10:58pm On Jul 22, 2015
dont worry the naira is simply stepping back so it can surpass the dollar,....in the fullness...of...

4 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by tolexy007(m): 10:59pm On Jul 22, 2015
bigneorapz:
it will only be a good news if the price of infinix zero2 in jumia will reduce grin
bought mine at 30,900, six hrs later d price was increase to 34,500..... grin

4 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by chiedu7: 10:59pm On Jul 22, 2015
[size=14pt]THIS MAN CALLED GMB HAS BEEN IN POWER FOR ABOUT 3 MONTHS

AND THE NAIRA HAS BEEN DEVALUED AT LEAST 3 TIMES.

CHANGE UNA SAY?
[/size] angry

16 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by IdJack(m): 11:00pm On Jul 22, 2015
[size=16pt]Nigeria Which way na.....Does it means that Nigerians entered 1 Chance [/size]

10 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by Nobody: 11:10pm On Jul 22, 2015
In Nigeria, You have freedom of speech, But not Freedom After Speech...
Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by Superman11(m): 11:11pm On Jul 22, 2015
Taylor86:
wetin concern me

buhari chopping GEJ past glory

from bailout fund to $ fall

patiently waiting for $1=N1

till it happens

i rest my case



He is travelling unnecessary to America, is he not buying dollars to travel and also falling the Hand of the Naira..
he should put policy to paper for AGRICULTURE , POWER GENERATION AND TRANSPORTATION.

7 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by warrior01: 11:12pm On Jul 22, 2015
You guys were warned but you went ahead and voted for it. So, serve you guys right

9 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by chiedu7: 11:14pm On Jul 22, 2015
warrior01:
[size=13pt]You guys were warned but you went ahead and voted for it. So, serve you guys right[/size]

10 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by esere826: 11:14pm On Jul 22, 2015
ilobasama:
Seriously emefiele shouldn't have devalued naira. We are not an exporting nation nau......but what do I know grin
He has no choice
he either devalues the Naira or use our reserves to defend it
If he uses our reserves and the oil price which is our main source of forex does not rise, then we have no money left and will have to borrow to sustain a strong Naira value.

The only way out of this is to lessen the demand for Forex while at the same time encouraging inflow of Forex
so if for example, everything you buy is 100% made in Nigeria, and we are able to sell our made in 9ja products overseas then and only then will
N1 = $1

6 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by carlkenny: 11:18pm On Jul 22, 2015
Taylor86:
wetin concern me

buhari chopping GEJ past glory

from bailout fund to $ fall

patiently waiting for $1=N1

till it happens

i rest my case
waiting with u

2 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by BornnAgainChild(f): 11:18pm On Jul 22, 2015
Taylor86:
wetin concern me
buhari chopping GEJ past glory
from bailout fund to $ fall
patiently waiting for $1=N1
till it happens
i rest my case
Me too infact na my briefcase I rest

2 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by Nobody: 11:20pm On Jul 22, 2015
Swagt101:
We're in rainy season bro, chill small coolWailing wailer, you neva chin chum chin grin

Honestly speaking bro, i'm wailing for your life. To save you from penury and destruction. Left for some of us, the life we live is the fantasy you dream of and if we decide to keep mute God will not forgive us. So please keep wallowing in ignorance and blind patriotism to your master while we wail and intercede to the higher beings on your behalf. Goodnight

6 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by Nobody: 11:21pm On Jul 22, 2015
Well the cause of it all is our over dependence on oil. The falling prices of our major product forced all these actions. Its well
esere826:

He has no choice
he either devalues the Naira or use our reserves to defend it
If he uses our reserves and the oil price which is our main source of forex does not rise, then we have no money left and will have to borrow to sustain a strong Naira value.

The only way out of this is to lessen the demand for Forex while at the same time encouraging inflow of Forex
so if for example, everything you buy is 100% made in Nigeria, and we are able to sell our made in 9ja products overseas then and only then will
N1 = $1
Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by doctokwus: 11:22pm On Jul 22, 2015
ilobasama:
Seriously emefiele shouldn't have devalued naira. We are not an exporting nation nau......but what do I know grin
I feel d mistake he made was banning some importers from accessing foreign exchange from d CBN.
Since those people still had to import those items, they just had to source for d forex from the open market.
I bliv Emefiele or whatever he calls himself has been a disaster as d CBN gov.A new man needs to come onboard

2 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by dammytosh: 11:24pm On Jul 22, 2015
BabyDaddy20:
[size=20pt]BABA GO SLOW a.k.a RETARDINHO 1 OF DUARA.[/size]

I told you guys not to vote for him but you wouldn't listen, Now let's enjoy the change we have been craving for.

I am sure your mother is the bread winner in your family.

That is why you get excited calling some one who has achieved greater things than what your father will ever achieve a retardeeno.

1 Like

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by kennyman2000(m): 11:31pm On Jul 22, 2015
Naija which way oooo!

1 Like

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by Nobody: 11:31pm On Jul 22, 2015
dammytosh:


I am sure your mother is the bread winner in your family.

That is why you get excited calling some one who has achieved greater things than what your father will ever achieve a retardeeno.

Yes.
Is it a crime for women to be the bread winner in their homes ??

10 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by cut007: 11:35pm On Jul 22, 2015
dammytosh:


I am sure your mother is the bread winner in your family.

That is why you get excited calling some one who has achieved greater things than what your father will ever achieve a retardeeno.
Shut d f. up! DULA-DULA IS A RETARDED DULARDINHO!! children of slavery, disciples propaganda

7 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by Nobody: 11:36pm On Jul 22, 2015
Atlast someone shares my view. He is worst of the apex bank's governor we have had. Forget about whether he came from a good bank like zenith. Why ban importers from accessing forex from cbn when the truth is that we are an importing nation and nothing on ground to even encourage export of other goods. Before you restrict import, there should be measures on ground to encourage or start exports All he knows how to do is stop pensioners benefit and so on. Let him go back to zenith please. I pray our FG sees the need to develop our manufacturing sector and diverse this economy once and for all.
doctokwus:

I feel d mistake he made was banning some importers from accessing foreign exchange from d CBN.
Since those people still had to import those items, they just had to source for d forex from the open market.
I bliv Emefiele or whatever he calls himself has been a disaster as d CBN gov.A new man needs to come onboard

1 Like

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by cut007: 11:37pm On Jul 22, 2015
I DIDNT TYPE 'SLOW' I TYPED R.E.T.A.R.D.E.D!!

5 Likes 1 Share

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by doctokwus: 11:44pm On Jul 22, 2015
ilobasama:
Atlast someone shares my view. He is worst of the apex bank's governor we have had. Forget about whether he came from a good bank like zenith. Why ban importers when the truth is that we are an importing nation and nothing on ground to even encourage export of other goods. All he knows how to do is stop pensioners benefit and so on. Let him go back to zenith please. I pray our FG sees the need to develop our manufacturing sector and diverse this economy once and for all.
There is a difference BTW being a bank governor and that of the central bank of any country.CBN just exposed emefiele's shortcomings.He has never taken any correct policy decision at the CBN as far as am concerned and eventhough he wasn't helped by d drop in oil prices and d politician's spendings during d campaign; but d fact that (1) oil price hasnt dipped that much since (2)pressure on d dollar from political campaign has eased; yet naira has been having a free fall shows its strictly a problem of I'll thought out CBN policies.

1 Like

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by Swagt101(m): 11:47pm On Jul 22, 2015
calebo101:


Honestly speaking bro, i'm wailing for your life. To save you from penury and destruction. Left for some of us, the life we live is the fantasy you dream of and if we decide to keep mute God will not forgive us. So please keep wallowing in ignorance and blind patriotism to your master while we wail and intercede to the higher beings on your behalf. Goodnight
Candidly speaking bro, all I see in ur post is bigotry n hatred, why can't u just pretend to be sensible and give the general some breathing space, or maybe u shud criticize constructively,btw, I laugh hysterically when u bring God into this matter, cos its the same God that delivered us from the cabal,fedora hat fool u'r sheepishly following... Bro, were u blind 2 d fact that ur clueless nigga 4rm otuoke ran this country aground or what?... God's gonna judge u and me! I rest my case, but don't 4get 2 give PMB some space or better still, keep wailing, the choice is yours, good night! #Peace cool

1 Like

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by shamecurls(m): 11:51pm On Jul 22, 2015
[size=28pt]Wailing Wailers! Dinner is ready o......Free food for all[/size]
Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by Nobody: 11:59pm On Jul 22, 2015
The policies and techniques used to run a commercial bank(main aim is profit) will definitely be different from that used in the central bank whose aim is non-profit and regulating the economy. To me I say they leave out these bankers and look elsewhere to appoint a cbn governor
doctokwus:

There is a difference BTW being a bank governor and that of the central bank of any country.CBN just exposed emefiele's shortcomings.He has never taken any correct policy decision at the CBN as far as am concerned and eventhough he wasn't helped by d drop in oil prices and d politician's spendings during d campaign; but d fact that (1) oil price hasnt dipped that much since (2)pressure on d dollar from political campaign has eased; yet naira has been having a free fall shows its strictly a problem of I'll thought out CBN policies.
Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by Realdeals(m): 11:59pm On Jul 22, 2015
esere826:

He has no choice
he either devalues the Naira or use our reserves to defend it
If he uses our reserves and the oil price which is our main source of forex does not rise, then we have no money left and will have to borrow to sustain a strong Naira value.

The only way out of this is to lessen the demand for Forex while at the same time encouraging inflow of Forex
so if for example, everything you buy is 100% made in Nigeria, and we are able to sell our made in 9ja products overseas then and only then will
N1 = $1
You have spoken well, don't mind some educated illiterate on this forum.

5 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by RADDY1(m): 12:00am On Jul 23, 2015
Taylor86:
wetin concern me
buhari chopping GEJ past glory
from bailout fund to $ fall
patiently waiting for $1=N1
till it happens
i rest my case








dont mind them....na GEJ cause am. am watching in 3.8D..LOLZ

3 Likes

Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by esere826: 12:01am On Jul 23, 2015
ilobasama:
Well the cause of it all is our over dependence on oil. The falling prices of our major product forced all these actions. Its well
yes you are correct
and unfortunately there is little we can do about our oil dependency except the price crashes irrevocably
Its almost how hard it is for a yahu boy to turn from his ways and work hard when an easier and more plentiful source of income exists

Nigeria (not neccesarily its individuals) has been designed to fail or continue on its knees for decades
no matter what PMB does, he'll end up leaving the throne someday
and the party will continue
Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by Nobody: 12:04am On Jul 23, 2015
Sad indeed.
esere826:

yes you are correct
and unfortunately there is little we can do about our oil dependency except the price crashes irrevocably
Its almost how hard it is for a yahu boy to turn from his ways and work hard when an easier and more plentiful source of income exists

Nigeria (not neccesarily its individuals) has been designed to fail or continue on its knees for decades
no matter what PMB does, he'll end up leaving the throne someday
and the party will continue
Re: Naira Falls Across Markets As CBN Adjust Clearing Rate To N197 by Realdeals(m): 12:09am On Jul 23, 2015
The fact is that CBN cannot continue to use the depleted foreign reserve to defend the naira again, it's unsustainable couple with the drop in dollars income to the country. I think the CBN took the right step in stopping for example sales on some commodities.
Most of the commodities are what it's been produced in the country. Local industries should be supported to increase productions.

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