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Nairaland Forum / Nairaland / General / Business / Naira Rebounds, Gains Across Markets (36221 Views)
After Record Loss, Nigeria’s Equities Market Rebounds / Naira Rebounds From One-week Low / Naira Steady Against Dollar, Rebounds Slightly Against Euro And Pounds (2) (3) (4)
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Re: Naira Rebounds, Gains Across Markets by pacino2626: 6:35am On Nov 09, 2016 |
kingcomet: My brother nothing bright there. 3 Likes |
Re: Naira Rebounds, Gains Across Markets by seguno2: 6:36am On Nov 09, 2016 |
mercichoco: ......or you hate knowledge, information and the related imagination for seeing beyond the immediately obvious. 1 Like |
Re: Naira Rebounds, Gains Across Markets by Truth234(m): 6:36am On Nov 09, 2016 |
shadeyinka: This is my last response to you, because you don't seems to have an in-depth understanding of the subject matter. Solution to all you said above is diversification, and we can't diversify without spending -- which we need oil revenue for. Because there is no economic structure does not mean there can't be, this administration is putting way too much in place. 1 Like 2 Shares |
Re: Naira Rebounds, Gains Across Markets by kingcomet(m): 6:40am On Nov 09, 2016 |
pacino2626:Hehe you no believe in naija sef |
Re: Naira Rebounds, Gains Across Markets by shadeyinka(m): 6:43am On Nov 09, 2016 |
DropShot: I am not happy with Nigerian economists because I believe that they leave the very simple economic theory to speak big economic grammers. The size of an economy or its strength shouldn't be measured in terms of GDP for instant. It should be measured in relation to real production/ consumption ratio AND I said reap production to exclude exportation of natural resources. Exportation of Natural resources gives a country foreign cash to spend at the expense of weakning the economy. Real economy is all about adding value to commodities. In exportation of crude for instance, what value has been added? If Nigeria in 2016 is behind Japan of 1920, there is a deep fundermental problem! Real Production is the back bone of Economic strength. [size=18pt]A consuming economy like Nigeria is no economy! We are living on lottery funds[/size] 7 Likes |
Re: Naira Rebounds, Gains Across Markets by pacino2626: 6:43am On Nov 09, 2016 |
kingcomet: I do just that we sleep a lot and leap for joy once there's power without staying awake to tackle fundamental problems. What the naira is experiencing is just speculative appreciation and nothing more. The dollar remains strengthened, we've not maxed up production, unemployment is in the high do what are we celebrating? |
Re: Naira Rebounds, Gains Across Markets by Banjo24: 6:44am On Nov 09, 2016 |
TRUMP WINNING BABYYYYY.... 1 Like
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Re: Naira Rebounds, Gains Across Markets by Truth234(m): 6:44am On Nov 09, 2016 |
Pavore9: Not really, the CBN already have plans in place, for instance, BDC rate was fixed recently at N385. And with more money transfer agents been licensed, people will naturally adjust to a more structure system. 1 Like |
Re: Naira Rebounds, Gains Across Markets by seguno2: 6:45am On Nov 09, 2016 |
Truth234: What has Buhari done in his past as military Head of State and since the mid-70s when he has been in power to "strategically diversify the economy"? |
Re: Naira Rebounds, Gains Across Markets by Majorking66(m): 6:51am On Nov 09, 2016 |
That's good news, we need an economy that will attract investors and local producers |
Re: Naira Rebounds, Gains Across Markets by Pavore9: 6:52am On Nov 09, 2016 |
Truth234: How many are getting it easily at N385 because it easily gotten at over N450. Here in Kenya, bank are selling dollar for 104-105 shillings while their BDCs sells at 102 shillings. 3 Likes 1 Share |
Re: Naira Rebounds, Gains Across Markets by hustla(m): 6:52am On Nov 09, 2016 |
chriskosherbal: Lol dnt be deceived, it's the US election in play Stock markets are currently going down in the US right now 3 Likes |
Re: Naira Rebounds, Gains Across Markets by Rozaystunna(m): 6:52am On Nov 09, 2016 |
Nooooo!!! My mmm bonus |
Re: Naira Rebounds, Gains Across Markets by seguno2: 6:52am On Nov 09, 2016 |
kingcomet: China has had a great past and a bright future by keeping its exchange rate very low STEADILY to encourage local businesses for consumption and exports while attracting foreign investment. How do you explain that? |
Re: Naira Rebounds, Gains Across Markets by Nobody: 6:54am On Nov 09, 2016 |
Kaybaba5:down. |
Re: Naira Rebounds, Gains Across Markets by shadeyinka(m): 6:54am On Nov 09, 2016 |
Truth234: I am sorry, I understand you very well. Maybe I am pouring out my anger on the "system". Diversification is the word everyone has been saying without any specifics being mentioned. If there would indeed be a diversification, the policy framework would have been apparent by now. Without that, I am sorry nothing concrete will happen. Don't forget that we have been talking about diversification since the time of IBB. I just see us as not serious. If you ask me, I believe that diversification of our economy will only make sense when we start with " Import Substitution Industrial is action" model of the economy. I am not seeing any government plan towards that hence my grouchiness. Forgive me. I just hate when we measure economic growth on paper and close our eyes to reality. Except for this year, the economy of Nigerians has consistently grown in terms of GDP yet, inflation and poverty is increasing at an exponential rate. You can understand why someone like me will scringe at our economic experts. 2 Likes |
Re: Naira Rebounds, Gains Across Markets by DropShot: 6:55am On Nov 09, 2016 |
shadeyinka:It's a complete self deceit to gauge your economy on a commodity you have no control over its price. Unfortunately and annoyingly is the fact that the money (billions of dollars) we earned through such windfall from crude was not judiciously utilized. The best time we could have diversified was during the windfall period. The next best time is now even though it must come with pains and sacrifice. We now must borrow our way out of recession since we didn't save our own windfall. Saudi with a population of about 32 million has over $570bn in reserves (actually over $600bn at the start of crude crash) and Qatar with under 2 million population has more than $36bn in reserves. Similar stories with all other oil-dependent countries who are able to weather the storm of crude crash. Nigeria with a population of over 170 million has a paltry $20 something billion dollars in her reserves, yet they said "GEJ left money". ![]() ![]() |
Re: Naira Rebounds, Gains Across Markets by greggng: 6:56am On Nov 09, 2016 |
So tb joshua has failed again in his prediction? So wole soyinka will tear his green card. So some nigerians in USA will be deported soon. Let's see how it goes 1 Like |
Re: Naira Rebounds, Gains Across Markets by redcliff: 6:57am On Nov 09, 2016 |
chriskosherbal: Lol. You must be high 1 Like |
Re: Naira Rebounds, Gains Across Markets by seguno2: 6:58am On Nov 09, 2016 |
Majorking66: China has shown that a developing country needs PERSISTENTLY low exchange rate to encourage local consumption and foreign investments. Therefore this is not good news if we are concerned about our long term development. |
Re: Naira Rebounds, Gains Across Markets by Truth234(m): 6:59am On Nov 09, 2016 |
Pavore9: These measures are being put in place right now, it will take awhile to filtered through all segments. We've seen how effective such measure can be with Travelex, at least some are getting at N385, with more money transfer agents coming into the picture, 2017/2018 will see a better Naira. |
Re: Naira Rebounds, Gains Across Markets by shadeyinka(m): 7:01am On Nov 09, 2016 |
DropShot: I agree perfectly with your submission. We should have used our "free money" from oil to develop our industrial capacity and free ourselves from the trap of importation. If a miracle happens now and Nigeria can produce internally 80% of what she consumes. The Naira will be super strong even at the current price of crude. Our economic leaders will rather have us find more oil for exportation rather than develop an industrial base. |
Re: Naira Rebounds, Gains Across Markets by Freegift75: 7:01am On Nov 09, 2016 |
I will make 1$ equals N100 says TRUMP |
Re: Naira Rebounds, Gains Across Markets by Nobody: 7:04am On Nov 09, 2016 |
shadeyinka:you don't owe anyone an apology for expressing your views. rather Buhari owes us an apology and a resignation with immediate effect.... |
Re: Naira Rebounds, Gains Across Markets by emsquare(m): 7:06am On Nov 09, 2016 |
That is a good news |
Re: Naira Rebounds, Gains Across Markets by Pavore9: 7:07am On Nov 09, 2016 |
Truth234: A better Naira should be tied to productivity not to money transfer agents. Local production is very key to a better Naira as we have so much local raw materials that beg for value addition but we have over time imported its finished products. |
Re: Naira Rebounds, Gains Across Markets by shadeyinka(m): 7:10am On Nov 09, 2016 |
NgcoboP: Even if he isn't an economic expert, as a President he could have called a National Economic Conference. Apart from the Nigeria Economic Forum in existence. We should by now know exactly how Nigeria will come out of recession. Economic theory says spend your way out of recession and I say "On What?" Obama spent on Ford and GM which directly impacted jobs, what is Nigeria spending on? |
Re: Naira Rebounds, Gains Across Markets by Nobody: 7:11am On Nov 09, 2016 |
shadeyinka:I disagree.... and am quoting you because your earlier views sounded more sane and intelligent. now that we need restructuring and diversification Buhari is committing billions to oil exploration in Chad basin and other northern regions.... attempting to borrow what unborn children will pay for..... if you like pump 10 zillion dollars into Nigeria it will not work unless there's a restructuring and aided by accountability and transparency with return of power to the LGAs with a termination of the feeding bottle federal system |
Re: Naira Rebounds, Gains Across Markets by Nobody: 7:14am On Nov 09, 2016 |
shadeyinka:that guy is not interested in anything not northern in nature.... especially not Fulani oriented. that my friend is the bitter truth |
Re: Naira Rebounds, Gains Across Markets by Truth234(m): 7:14am On Nov 09, 2016 |
Pavore9: So how do you get "capital importation" to source for raw materials in a mono-crude and import-depending economy currently in recession like Nigeria? Bro its a process, the money transfer agents and high interest rate (14%) to attracts FDI are means to an end, not the end in itself. |
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