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Nairaland Forum / Nairaland / General / Business / CBN Targets N200/$ Parallel Market Rate (32824 Views)
Naira Gains, Dollar Crashes At Parallel Market / Naira Strengthens Further Against Dollar On Parallel Market / Dr. Ifeanyi Ubah's N200/$ Claim: A Possibility? (2) (3) (4)
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Re: CBN Targets N200/$ Parallel Market Rate by olajizz01(m): 8:25am On Feb 27, 2016 |
Anticabal:Remove that anti in your user name,your real username is cabal,obaye je,you,your children and children's children will all suffer for it, if your prayers were answered. |
Re: CBN Targets N200/$ Parallel Market Rate by iykedare(m): 8:42am On Feb 27, 2016 |
2sex: Stop misleading people. Gtb won't charge you less than 280/$. I'm sure you are referring to buying of dollars using form A. |
Re: CBN Targets N200/$ Parallel Market Rate by NavierStokes(m): 9:10am On Feb 27, 2016 |
iykedare: I think he meant 299, which was gtb's online rate yesterday. |
Re: CBN Targets N200/$ Parallel Market Rate by 2sex(m): 9:18am On Feb 27, 2016 |
iykedare:dream on. Cc: tranxo, please come tell this doomsday prophet GTB exchange rate |
Re: CBN Targets N200/$ Parallel Market Rate by tranxo(m): 9:33am On Feb 27, 2016 |
2sex:I bought something worth $10 and the charge THIS morning was N1,990.00 Wednesday was 299 yesterday was 220 1 Like |
Re: CBN Targets N200/$ Parallel Market Rate by 2sex(m): 9:35am On Feb 27, 2016 |
tranxo:thank you and God bless you bro. |
Re: CBN Targets N200/$ Parallel Market Rate by omonnakoda: 9:40am On Feb 27, 2016 |
NavierStokes:What fiscal tool nah? Name one please |
Re: CBN Targets N200/$ Parallel Market Rate by Seun(m): 9:42am On Feb 27, 2016 |
This is the scariest news I've seen in a long time. I can't wait to see the **** ideas they will come up with to try to control the parallel market. This is as **** as the minister of agriculture saying they are targeting a price of N500 for a full chicken in the public markets (without funds) 2 Likes 1 Share |
Re: CBN Targets N200/$ Parallel Market Rate by omonnakoda: 9:42am On Feb 27, 2016 |
Bevista:I am not saying that is the solution but there is certainly an inefficiency in that process.The solution is to industrialize which won't happen overnight.In the meantime we will suffer |
Re: CBN Targets N200/$ Parallel Market Rate by NavierStokes(m): 9:46am On Feb 27, 2016 |
omonnakoda:Interest rates Disposable income via taxes Overall price changes via government spending. Controlling the exchange rate is not the job of the chm alone, reason why there is a caveat "country", on my very first post you quoted. |
Re: CBN Targets N200/$ Parallel Market Rate by omonnakoda: 9:52am On Feb 27, 2016 |
NavierStokes:Disposable income through taxes. What does this mean Disposable? and what does that have to do with exchange rates. Who exactly ae you going to tax extra specifically as things are now Overall price change through government spending? What are you talking about "Interest rates" is not a FISCAL instrument it is a MONETARY instrument With respect you have no clue what you are talking about 1 Like |
Re: CBN Targets N200/$ Parallel Market Rate by NavierStokes(m): 9:54am On Feb 27, 2016 |
omonnakoda:One moment lemme logon on a computer Okay here we go: I told you at the moment, (as a country) considering our position we can not wield the necessary instruments for this battle. 1) Talk about disposable income after taxes: You can agree with me that it will be politically suicidal at the moment for the government to tax Nigerians heavily, You talk about a quest for foreign goods, do you realize that with increased taxes relative to current figures, people will have less disposable income and a reduced quest for foreign goods, causing less pressure and reduced demand for the dollar, but then our Govt can not afford to go that path. 2) overall price change through government spending: what do you think will be the effect of an expansionary or contractionary budget. The expansionary budget our government is planning on, will definitely lead to increased demand, while we are still dreaming of a diversification, what do you think will be the overall effect of that? Increased demand for goods which will obviously be foreign and hence an increased pressure and quest for the greenback, which the cbn clearly doesn't have. Also with increased demand comes increased prices, and what do you think wiil result?, our export prices increase and it becomes relatively more attractive to import. 3) Interest Rates: Since it is the desire of the government to run an expansionary fiscal approach, it will turn to the markets to sell bonds (Through the DMO), which as a consequence raises interest rates for the bonds to be attractive to investors, in our own case, who will buy the bonds when our currency is still over-valued? Its a morning i didn't plan being close to a computer, but all the same I hope this brief explanation helps to clarify my earlier points that we at the moment are short of the FISCAL and MONETARY Instruments for this battle. Hope you have a good weekend. cheers Don't forget after this budget is passed them we shall see the true depreciation of the naira. |
Re: CBN Targets N200/$ Parallel Market Rate by zurine(f): 10:04am On Feb 27, 2016 |
hmm |
Re: CBN Targets N200/$ Parallel Market Rate by poposki33: 11:06am On Feb 27, 2016 |
this is just like a statement to bring optimism to nigerians mind. what we want is active measures so we will be convinced |
Re: CBN Targets N200/$ Parallel Market Rate by Dephilos: 11:15am On Feb 27, 2016 |
Hmmmmm just passing.... Mr.dollar just cum down make i go buy my cooking utensils.....o or else hunger go wire me die |
Re: CBN Targets N200/$ Parallel Market Rate by Winning123: 11:36am On Feb 27, 2016 |
Lattop: Na you sabi |
Re: CBN Targets N200/$ Parallel Market Rate by Nobody: 11:52am On Feb 27, 2016 |
NavierStokes: Psychological intervention. This is very worrying as it depicts a CBN that has run out of ideas They fail to realize that such effects do not last more than a week |
Re: CBN Targets N200/$ Parallel Market Rate by NavierStokes(m): 11:55am On Feb 27, 2016 |
1stCitizen: See, when this inflationary budget is passed, then we shall see the real depreciation. |
Re: CBN Targets N200/$ Parallel Market Rate by coolshegs10(m): 2:17pm On Feb 27, 2016 |
Abeg o.. i wan buy phone o bt d price is just unbearable...will d price rtill go back to where it was bfor? e.g infinix (27k) |
Re: CBN Targets N200/$ Parallel Market Rate by rhames(m): 2:20pm On Feb 28, 2016 |
citizenisb: My question is : why is there a gulf between the rate the CBN sells to banks and the rates at which the banks buy these currencies? Is it a calculated attempt to throw the entire economy to chaos? My take is that the government should bring in an economist not these evil bankers draining the economy. |
Re: CBN Targets N200/$ Parallel Market Rate by otitokoroleti: 2:40pm On Feb 28, 2016 |
Seun:seun? whats **** ideas? walai i go ban ur moniker |
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