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Nairaland Forum / Nairaland / General / Business / CBN Floats The Naira, The Implications For You And I (78964 Views)
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Re: CBN Floats The Naira, The Implications For You And I by Rilwayne001: 3:58pm On Jun 15, 2016 |
naijamd: 9 Likes 3 Shares
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Re: CBN Floats The Naira, The Implications For You And I by okirahaj: 3:58pm On Jun 15, 2016 |
any economist or business administrator or accountant here to break those terms down to our understanding because I don't understand it at all. pls I need the breakdown 2 Likes 1 Share |
Re: CBN Floats The Naira, The Implications For You And I by repogirl(f): 3:58pm On Jun 15, 2016 |
joseph1013: Modified. |
Re: CBN Floats The Naira, The Implications For You And I by Image123(m): 3:58pm On Jun 15, 2016 |
This one na coup d'etat oh. All Buhari gragra, na travel dem dey take settle am. Baba, old age abi wetin? Anyway, a paralyzed Buhari is better than thieving Jonathan. 1 Like |
Re: CBN Floats The Naira, The Implications For You And I by wellmax(m): 3:58pm On Jun 15, 2016 |
macanu: where exactly? Tell us you don't understand the news or you just STFU 6 Likes |
Re: CBN Floats The Naira, The Implications For You And I by Nobody: 3:59pm On Jun 15, 2016 |
Inception:......! 1 Like
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Re: CBN Floats The Naira, The Implications For You And I by agitator: 4:00pm On Jun 15, 2016 |
blackpanda: No wonder we are where we are, when people like this are the intelligent people ruling us. 3 Likes |
Re: CBN Floats The Naira, The Implications For You And I by wellmax(m): 4:00pm On Jun 15, 2016 |
Segunbills: Stale 1 Like |
Re: CBN Floats The Naira, The Implications For You And I by repogirl(f): 4:00pm On Jun 15, 2016 |
okirahaj:CBN will not fix the price at N197 but will allow the demand for the forex determine what the exchange rate will be. 1 Like |
Re: CBN Floats The Naira, The Implications For You And I by anonimi: 4:01pm On Jun 15, 2016 |
Maxymilliano: When you have a confused illiterate in charge, this is the outcome. www.nairaland.com/attachments/3780335_mugabe_jpegb6d6da38e8b22a0fc4198629955fb6f1 3 Likes 1 Share |
Re: CBN Floats The Naira, The Implications For You And I by Nobody: 4:02pm On Jun 15, 2016 |
Ibo boys be reading this thread like.... how much will my container land... 8 Likes 1 Share
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Re: CBN Floats The Naira, The Implications For You And I by wristbangle: 4:03pm On Jun 15, 2016 |
I really don't understand the complexity of the article but it seems they want to cut the enormous cluster of official foreign exchange pegging it at a fixed rate that will discourage 3rd parties hence pave way for forex traders to buy what they can afford just like the fuel subsidy case. Wetin I dey type sef . Make Monday come, make we know the official rate 3 Likes 1 Share |
Re: CBN Floats The Naira, The Implications For You And I by buJu234: 4:03pm On Jun 15, 2016 |
yemmight: Bro.. am not against this move oo...; am very happy for the news.. But assuming we did the right things via :- (1) selecting the right technocrat as ministers on time (2) Devalue the Naira to a reasonable level (3) submitting the budget on time and by now spend over 5months on budget implementation we wouldnt have entered into this recession irrespective of how Jonathan & his looters stole our money. 6 Likes |
Re: CBN Floats The Naira, The Implications For You And I by Onegai(f): 4:03pm On Jun 15, 2016 |
For those wondering what it means, follow @tunjiandrews on Twitter. He's a smart and objective Economist who analyses Nigerian economy on the radio. And he and other economists are all saying this is a good decision. Even some economists who are totally against Buhari are for this policy. One even said that this was what should have been done since last year. From all indications, this is a good policy. It will apparently break the hoarding and speculation. And most people didn't see it coming (they assumed CBN couldn't keep fighting). Basically, if you're hoarding dollars to speculate in the hopes of reaping a windfall, better go and dump them now. Because dollar will be open for competition. 16 Likes 1 Share |
Re: CBN Floats The Naira, The Implications For You And I by badonkadonk: 4:03pm On Jun 15, 2016 |
[quote author=brixton post=46599907]Bubu the deaf and certificatelesa emperor from Daura has done it again![/quote I can't remember when last I saw five naira... The lowest wey I don see na ten naira.... |
Re: CBN Floats The Naira, The Implications For You And I by Theonlyway: 4:04pm On Jun 15, 2016 |
INSTEAD OF US TO WORK AND MAKE MONEY, MONEY NOW USING US TO WORK |
Re: CBN Floats The Naira, The Implications For You And I by ziccoit: 4:04pm On Jun 15, 2016 |
If you have dollars in custody you had better go and sell now before you get your fingers burnt. 5 Likes |
Re: CBN Floats The Naira, The Implications For You And I by auxyn1: 4:07pm On Jun 15, 2016 |
feature11:exactly wat it means but like in the case of subsidy where they said its not subsidy removal but price modulation, they are also trying to deceive themselves wit grammar calling naira devaluation "fx floating". Good move though, but they like to decieve and confuse themselves with grammar. Call a spade a spade 2 Likes |
Re: CBN Floats The Naira, The Implications For You And I by Brainy007: 4:07pm On Jun 15, 2016 |
Lescalier:You no kuku understand wetin dem write 4 Likes |
Re: CBN Floats The Naira, The Implications For You And I by Nobody: 4:08pm On Jun 15, 2016 |
For those people complaining to not understand, let me break it down. CBN has now allowed the banks to trade/exchange dollar with naira the way mallam would do it for you and not a tailored rate for all banks like before. And again, they also said, they might step in sometime to regulate if some banks wants to be doing calo calo or 419. That's it ooooo my people. 12 Likes 1 Share |
Re: CBN Floats The Naira, The Implications For You And I by truthspeaks: 4:08pm On Jun 15, 2016 |
because he was able to decipher all dat d Op said, na him pain u like dis. U zombies tink evry1 is like u. Shameless ppl. Ur buhari jst devalued d naira meaning he jst packed his vomit aftr destroyin d economy wit his control n command policies. It's nw he z jst wakin up wit d CbN n realised dis is not 1985. Buhari = cluelessness blackpanda: |
Re: CBN Floats The Naira, The Implications For You And I by erico2k2(m): 4:09pm On Jun 15, 2016 |
Pavore9:If I send one pound frm the UK to my baking I get 505 in my bank. By Monday it might be 510 or 520 not good. |
Re: CBN Floats The Naira, The Implications For You And I by afroditte(f): 4:09pm On Jun 15, 2016 |
Image123:I remember you staunchly defending buharinomics last year.... so this is all you have to say now? 1 Like
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Re: CBN Floats The Naira, The Implications For You And I by lafuria1(m): 4:09pm On Jun 15, 2016 |
Nuahall2k14: Each bank will tell you, by Monday we will know, the good thing is no difference between the bank and the aboki BDC, you probably will go to where it's cheaper. No short term benefits now, long term is Naira will be stable and might come down because some might decide to sell their dollars cheaper, competition for customers. The policy is aimed at saving the economy in general at this moment and not to make the exchange rate go down immediately. 2 Likes |
Re: CBN Floats The Naira, The Implications For You And I by Tintinnoty(m): 4:10pm On Jun 15, 2016 |
feature11:nop is just that the forces i.e demand and supply determine the value of exchange |
Re: CBN Floats The Naira, The Implications For You And I by Tintinnoty(m): 4:11pm On Jun 15, 2016 |
feature11:nop is just that the forces i.e demand and supply determines the value of exchange |
Re: CBN Floats The Naira, The Implications For You And I by abiscoeducation: 4:11pm On Jun 15, 2016 |
aa |
Re: CBN Floats The Naira, The Implications For You And I by DisGuy: 4:11pm On Jun 15, 2016 |
oneitalia: That's what many came here to read not line for line policy of the cbn. Nigerian Journalists sha so so copy and paste no details David come and explain the implications for students. transporters. mama basiras. adamu the goat seller etc 1 Like 1 Share |
Re: CBN Floats The Naira, The Implications For You And I by anonimi: 4:11pm On Jun 15, 2016 |
Onegai: Indeed it is a good policy. Let's hope that implementation will be just as good without too many EXCEPTIONS as with their CBN recruitment scandal. 1 Like 1 Share |
Re: CBN Floats The Naira, The Implications For You And I by Temmytea70(m): 4:11pm On Jun 15, 2016 |
wristbangle: Park well johr... .. Wey i don dey think say u wan break am down for me |
Re: CBN Floats The Naira, The Implications For You And I by shehuolayinka(m): 4:11pm On Jun 15, 2016 |
Wetin him kon do now, if no be devaluation of the country currency. Stubbornness won't surely get you anywhere only backward. Let wait and see how this one will pan out sha 1 Like |
Re: CBN Floats The Naira, The Implications For You And I by erico2k2(m): 4:13pm On Jun 15, 2016 |
busolakun:When it says 400 then we will know we are in soup Or we can blame GEJ which is much easier 1 Like |
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