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Nairaland Forum / Nairaland / General / Business / Naira Gains 5.2 Percent After CBN Intervenes (18724 Views)
As Naira Gains, Neighbouring Countries Ease Rush For Nigerian Goods / Naira Surges As CBN Intervenes In Interbank Market / Speculators Get Burnt As Naira Gains Value (2) (3) (4)
Re: Naira Gains 5.2 Percent After CBN Intervenes by onatisi(m): 8:29am On Aug 20, 2016 |
booz:Unfortunately the dollar may become the currency ppl will be using more . Dont be surprised if many companies that depend on imported raw materials start asking their customers to pay in dollars ,airlines have already started. And just like u said ppl have started spraying dollars at parties instead of naira notes |
Re: Naira Gains 5.2 Percent After CBN Intervenes by Hillarie(m): 8:31am On Aug 20, 2016 |
SurePresident: This is not Jerusalem, This is N-I-G-E-R-I-A :p 1 Like |
Re: Naira Gains 5.2 Percent After CBN Intervenes by Paseus(m): 8:41am On Aug 20, 2016 |
Pprovost:you just cant blame some pple for lack of sense even if you offer them one...hes dumb u knw |
Re: Naira Gains 5.2 Percent After CBN Intervenes by smileysmiley(f): 8:43am On Aug 20, 2016 |
Amah70:haba bros our weed is not strong enough to hypnotize the president in that manner he was probably on warri weed or oshogbo weed, not our weed |
Re: Naira Gains 5.2 Percent After CBN Intervenes by BekeeBuAgbara: 8:54am On Aug 20, 2016 |
kov624665:Coming from mr ''Integrity'' supporter. 1 Like |
Re: Naira Gains 5.2 Percent After CBN Intervenes by grandstar(m): 9:18am On Aug 20, 2016 |
onatisi: They can close it but they don't want to. The naira fell to about 365 at the official rate which reduces the gap to less than 10% . Government has a desired exchange rate and that is what is causing the problem. As long as the massive gap between the official rate and parallel rate persist, dollar supply will remain scarce as no one will sell dollars at 310 when it near 400 at the black market 1 Like |
Re: Naira Gains 5.2 Percent After CBN Intervenes by dermmy(m): 9:25am On Aug 20, 2016 |
jazinogold: Hehehe...Funny man |
Re: Naira Gains 5.2 Percent After CBN Intervenes by Nobody: 9:29am On Aug 20, 2016 |
Pprovost: are they building infrastructure 2wards dat? Whr are d refineries atleast 2 curb importation of fuel, whr is the road network 2 make smooth movement of items if produced locally and whr is the constant electricity 2 reduce cost of manufacturing, all these are nt in place, and they want 2 stop importation, it is like cutting the supply of oxygen through the nose and not using the mouth 2 back it up, u want make d person suffocate 2 death ni? |
Re: Naira Gains 5.2 Percent After CBN Intervenes by onatisi(m): 10:18am On Aug 20, 2016 |
#000000 |
Re: Naira Gains 5.2 Percent After CBN Intervenes by bobo65(m): 10:20am On Aug 20, 2016 |
kov624665: Lmao |
Re: Naira Gains 5.2 Percent After CBN Intervenes by onatisi(m): 10:21am On Aug 20, 2016 |
grandstar:i dont think you have a full picture of what is happening . The cbn simply doesn't have the dollars to support the nations international trade,that is why they are trying to push every deal and transaction to the parallel market and that is what is causing the high pressure in the black market. The demand for dollars at the black market simply outstrips the supply by almost a ratio of 5:1. Many traders at chasing the few dollars. Now we have 2 markets ,and this is caused because the nation isn't getting dollars from oil revenue as before. If hostilities in the Niger delta seize today and oil is even sold for 40$ believe me things will improve if there is a prudence government in place . |
Re: Naira Gains 5.2 Percent After CBN Intervenes by Localamos(m): 1:06pm On Aug 20, 2016 |
joey150: No I didn't. I am also a product of Nigeria's failed education system. I'm drained out right now and as such cannot share with you some concepts of economy and currency pricing. And I'm sorry for negative remarks I made earlier. But try and brush up on your knowledge about socio-economic issues. It do all of us a while lot of good. |
Re: Naira Gains 5.2 Percent After CBN Intervenes by joey150(m): 1:13pm On Aug 20, 2016 |
Localamos:Yeah i know all the crude oil price drop and how it qffects forex and how we rely too much on importation,pressure on naira bla bla bla... We all know the problem..but i doubt those folks have a clue about how to solve it. 1 Like |
Re: Naira Gains 5.2 Percent After CBN Intervenes by Localamos(m): 1:33pm On Aug 21, 2016 |
joey150: Solution is multifaceted and complex. It involves commercial, industrial, political, military and monetary strategies. And what about the players? Those include Buhari, his economic team, captains of industry, the political class, the citizenry, international community and NDA & other pressure/terrorist groups. The factors that would ultimately improve the value of our currency is industrialization and non-oil exports. These two goals are long termed, and not something that can be achieved even in the next 4 years. |
Re: Naira Gains 5.2 Percent After CBN Intervenes by hucienda: 9:20am On Sep 09, 2016 |
onatisi: Dis man, I ask again. You and Nostradamus. Una bi relation? 2 Likes |
Re: Naira Gains 5.2 Percent After CBN Intervenes by kov624665(m): 9:23am On Sep 19, 2016 |
BekeeBuAgbara:why are you so mad, try to understand, that i do want you as a fan... (In Eminem's voice) |
Re: Naira Gains 5.2 Percent After CBN Intervenes by kov624665(m): 9:29am On Sep 19, 2016 |
Amah70:you can call me whatever. The issue is, "why are you in tears?". |
Re: Naira Gains 5.2 Percent After CBN Intervenes by Ken4Christ: 9:49am On Sep 19, 2016 |
All the news about Naira gains or loses are absolute rubbish. Our Government is not serious. They know what brought us to this level. They are unwilling to do something about it because they are benefiting from it. How can will be celebrating a gain in Naira value that still keeps it as high as over N300 to one USD? The Naira exchanged for One Naira to One dollar until oil came. So, what happened? 1. We got too much into borrowing because of corruption. Monies borrowed are usually mismanaged. 2. The government took his hands off farming and the foreign exchange from it stopped. 3. The government became purely administrative and not productive. 4. Our porous borders gave room for importations of all kinds of goods. Import far exceeds export. What does it cost to fence the country round and only have legitimate route into the country? If they can dig pipes from South to north even under water, the country can be fenced round. 5. Regions and states weakened by the federal government controlling the resources. |
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