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Nairaland Forum / Nairaland / General / Business / Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association (56516 Views)
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Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by justmenoni: 6:50pm On Apr 17, 2016 |
Your gullibility ia factory fitted. quote author=Heffalump post=44789662]Association of Wailers will hear this and suddenly develop Heart attack! #IstandwithBuhari Wailers can go to jail!! ![]() |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by haibe(m): 6:51pm On Apr 17, 2016 |
SamuelAnyawu: Did you say surely? Don't be too sure though. For the naira to dollar exchange rate to really rise, then the cumulative demand for dollar around the globe should drop by a reasonable percentage while naira maintaining its value or appreciate. If other factors driving demand for dollar is more significant than the decrease in dollar demand in Nigeria, don't expect any appreciation in the naira to dollar exchange rate. The most important thing is increasing the demand for Naira.., the dollar would hardly fall sustainably without our naira having a reasonable demand. In order words, we really need to cut down our imports and focus more on export. 1 Like |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by EmmaOgbu(m): 6:52pm On Apr 17, 2016 |
That is a good move at the right time. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Mayflowa(m): 6:53pm On Apr 17, 2016 |
ChoCandyDiamond: Did they say, we are going to do away with dollar reserve? It's just a fraction of our reserve that will be in Yuan. This is so good to create option and dampen the anxiety of naija-china import which is huge. My only encouragement would be Chinese buying our mineral resources and crude oil to great a corresponding balance of trade between the two country. In true sense, the policy will lower dollar value |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by 989900: 6:53pm On Apr 17, 2016 |
modath: I was reading this ^^ then I stopped to check who was photocopying my mind . . . voila, Mo'! #mytelepathictwin Profiteers, racketeers, speculators, and hoarders are largely responsible for the aberration happening . . . from individuals to corporations, banks and the CBN. 1 Like |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by modath(f): 7:01pm On Apr 17, 2016 |
989900: Yes boss!! ![]() |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by 989900: 7:02pm On Apr 17, 2016 |
When people say the Yuan is unstable, I wonder if the Dollar or any currency for that matter is totally immune to instability. Look at what happened to the dollar some years back, or what is happening to the Euro now. And since the yuan reserves will be largely for yuan purchases, I don't think we have any major issues there if it depreciates, actually it works in our favour when making purchases, it may not work in our favour if we have to pay back yuan debts in dollars (if we have a strong dollar). However, if we have a strong economy and a strong Naira it still works in our favour. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by ChoCandyDiamond(f): 7:03pm On Apr 17, 2016 |
LAGOS PARALLEL MARKET RATES Quotes: * morning **midday ***evening NAIRA DOLLAR POUND EURO (NGN) (USD) (GBP) (EUR) BUY / SELL BUY / SELL BUY / SELL 15/04/16 320 / 323*** 445 / 450*** 361 / 365*** 15/04/16 320 / 323** 445 / 450** 361 / 365** 15/04/16 320 / 323* 445 / 450* 360 / 365* 14/04/16 320 / 323 445 / 450 360 / 365 13/04/16 320 / 323 445 / 450 360 / 365 12/04/16 320 / 323 445 / 450 362 / 365 11/04/16 319 / 322 445 / 450 360 / 365 08/04/16 320 / 323 445 / 450 355 / 362 |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Nobody: 7:05pm On Apr 17, 2016 |
This is a great news,am loving it...wailers can rot in hell for all I care. 1 Like |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by miqos02(m): 7:09pm On Apr 17, 2016 |
ok |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Flets: 7:10pm On Apr 17, 2016 |
What will china be doing with a swapped naira? What market will they trade the swapped Naira? What is our volume of export to reciprocate supposed chinese yuan import? In its simplest term, Nigeria needs yuan but does china need naira? Behind the answer to this question lies the gullibility of Nigerians. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by loomer: 7:11pm On Apr 17, 2016 |
Wetin concern me and dollars? When na euro me dey deal on. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by 989900: 7:13pm On Apr 17, 2016 |
Flets: You've not been following, have you? |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 7:14pm On Apr 17, 2016 |
laurel03:This where the vast majority of you get it wrong, In China you buy in DOllars not yuan, |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by 989900: 7:17pm On Apr 17, 2016 |
erico2k2: Just ask them you want to pay in Yuan. I do it anytime I have to. 1 Like |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by hardeydara213(m): 7:18pm On Apr 17, 2016 |
Naa tru oooo DOLLAR Don enter wan chance, CHINESS yen will do the magic |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by laurel03(m): 7:18pm On Apr 17, 2016 |
erico2k2:u can buy in dollar anywhere in the world 1 Like |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by ChoCandyDiamond(f): 7:22pm On Apr 17, 2016 |
Mayflowa:what will be the outcome at the long run and the benefit, will they buy our crude oil in yuan, who will buy excess yuan, dollar will end up been more expensive for other users because the forex market which is traded in dollars will collapse, in flow of dollar to Nigerian economy will stop, only people living abroad will be sending dollar home, Zimbabwe that try that how far for them, at the end of it, if Yuan fluctuate as usual inflation will skyrocket in Nigeria. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by vigasimple(m): 7:25pm On Apr 17, 2016 |
You have been buying fake goods before now will be buying fake currency. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by ChoCandyDiamond(f): 7:27pm On Apr 17, 2016 |
Flets:Chinese businesses dont even want yuan because they dont trust it, they prefer USD |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Nobody: 7:28pm On Apr 17, 2016 |
LionInZion: Right on bro! When people talk about we import from China as bad, stating that we need to also export they mostly forget the fact that we don't import only consumables but as Fabricators and related businesses we import machines for production and can move on to export the end product. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by FOLLEY20(m): 7:28pm On Apr 17, 2016 |
SamuelAnyawu:Thank u! U are very correct. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Boss13: 7:31pm On Apr 17, 2016 |
masterblogger: This man that is yet to pay AMCON |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Kingspin(m): 7:32pm On Apr 17, 2016 |
For how long will it last? |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by solacong: 7:38pm On Apr 17, 2016 |
Let it go down fast, and may God disgrace all the saboteurs |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Nobody: 7:39pm On Apr 17, 2016 |
its true oo! one dollar is now 199 naira. ![]() |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by sanusidabo: 7:42pm On Apr 17, 2016 |
Breaking News USD has further crashed as to USD $1 is #210 sourced BDC Lagos suppose by Zenith. 1 Like |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 7:43pm On Apr 17, 2016 |
989900:The you are talking about goods under 1M naira.Cos they don't get tax breaks,they pay more tax wen you pay i n local currency, just don't take my word for it ask them this too. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by globalresource: 7:44pm On Apr 17, 2016 |
ChoCandyDiamond: Here they come. Prophet of doom ![]() |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Bgorgeous: 7:46pm On Apr 17, 2016 |
This is real change.see economic policies that gets to the middle class table right from the top.not the robost economy on paper. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 7:46pm On Apr 17, 2016 |
laurel03:Not at all, try and buy in Dollars in the UK or EU.no deal and this is fact.your money get converted |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 7:47pm On Apr 17, 2016 |
Bgorgeous:How does this effect you and more so gets to the middle class table?wanna face reality ![]() ![]() |
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