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Nairaland Forum / Nairaland / General / Business / We’ll Push Dollar To N305—CBN Boasts (27965 Views)
Kerosene Decreased To N305.55 In February 2019 From N306.28 In January 2019 / Naira Gains Against Dollar To N375/$ / Manufacturer Cautions CBN Over Sale Of Dollar To Bdcs (2) (3) (4)
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Re: We’ll Push Dollar To N305—CBN Boasts by abhosts(m): 5:22pm On Mar 29, 2017 |
Naira lost some ground today. That means that many importers are now creating high demand. Lower FX rates automatically means more imports. I hope the CBN is ready for continuous FX onslaught. 1 Like |
Re: We’ll Push Dollar To N305—CBN Boasts by LordAdam16: 5:35pm On Mar 29, 2017 |
989900: Oga stop confusing yourself. The language is diaspora remittances which can also be called remittances inflows. And now, you are shifting goalpost from 15b to 11b. World bank is not referring to total capital inflows. If they are referring to total capital inflows, they'll state it very clearly. A-list media organizations are not arm chair economists. They are often economists or journalists with decades of experience in following the economy. Inward transfers--$22b. Remittances--$20.1b. It is very clear there. Now look at this link -- http://data.worldbank.org/indicator/bx.trf.pwkr.cd.dt It is clearly called Personal Remittances not total capital inflows. In fact World Bank clearly defines personal remittances on their own website--https://datahelpdesk.worldbank.org/knowledgebase/articles/114950-how-do-you-define-remittances. Personal remittances is the sum of personal transfers and compensation of employees. How can you say you know more about what personal remittances are than the World Bank and CBN? What kind of arrogance is that? See, no let me vex, no body is paying me to educate you. -Lord 7 Likes |
Re: We’ll Push Dollar To N305—CBN Boasts by menama(m): 5:43pm On Mar 29, 2017 |
LordAdam16: lol LordAdam16: lol 4 Likes |
Re: We’ll Push Dollar To N305—CBN Boasts by 989900: 5:45pm On Mar 29, 2017 |
LordAdam16: L L The personal remittances link you posted was for 2015, which is correct. The data images from CBN I posted was for 2011, and total capital inflow was $22b. 1 Like |
Re: We’ll Push Dollar To N305—CBN Boasts by LordAdam16: 5:56pm On Mar 29, 2017 |
989900: Seriously, 989900 I shame for you. I am ashamed of you. Kai! So, you want me to show you how to browse a website too? Oya, since I'm a kind-hearted fellow, let me help a brother. Adjust your glasses, if you no get glasses, tomorrow go and get glasses. For now you can wash your eyes. Now open this link: http://data.worldbank.org/indicator/bx.trf.pwkr.cd.dt?end=2015&start=2011&year_high_desc=false I no need explain how I use tk convert the first link to that link, your small sized brain no go fit understand am (na joke o). There is a slider under the chart on the desktop version of the site. Move it from 1970 to 2011, it'll show you Nigeria's personal remittances for 2011. -Lord 3 Likes |
Re: We’ll Push Dollar To N305—CBN Boasts by 989900: 6:00pm On Mar 29, 2017 |
LordAdam16: 1 Like |
Re: We’ll Push Dollar To N305—CBN Boasts by LordAdam16: 6:03pm On Mar 29, 2017 |
[quote author=989900 post=55074380][/quote] No be my fault say your argument no gel. Only you na World Bank President cum CBN President. No wonder BMC never employ you (na joke oo)... -Lord 2 Likes |
Re: We’ll Push Dollar To N305—CBN Boasts by 989900: 6:22pm On Mar 29, 2017 |
LordAdam16: You simply don't get the drift: Why does the world bank's data for 2011 not match with CBN's financial report for 2011? BTW, they do match for the year 2015. |
Re: We’ll Push Dollar To N305—CBN Boasts by LordAdam16: 6:35pm On Mar 29, 2017 |
989900: Oga, your eye dey real pain you... Look at the link again -- http://data.worldbank.org/indicator/bx.trf.pwkr.cd.dt?end=2015&name_desc=false&start=2011 and look at my earlier screenshot. In fact, no worry, I'll help you. Mate, whatever it is you're smoking should be deemed contraband. -Lord 3 Likes
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Re: We’ll Push Dollar To N305—CBN Boasts by 989900: 6:39pm On Mar 29, 2017 |
LordAdam16: I'd say the same for you, but that's what people do when they're avoiding the core issues. BTW, go to my earlier posts and check CBN's financial report for 2011. It is online too. |
Re: We’ll Push Dollar To N305—CBN Boasts by LordAdam16: 6:43pm On Mar 29, 2017 |
989900: Oga look at the screenshots again in the post you quoted. In fact let me post the screenshots again for the last time. World bank say $20.6b, CBN say $20.6b. No use your own confusion kon rub me. I don hands off for your matter. Your economics and mathematics teachers try. Them need to give them award. Even though they abysmally failed, I'm pretty certain they did their best. Even with graph and charts and definition and links, you still carry strong head, your case is special. Very special. -Lord 5 Likes
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Re: We’ll Push Dollar To N305—CBN Boasts by romeoetin(m): 6:46pm On Mar 29, 2017 |
DON'T |
Re: We’ll Push Dollar To N305—CBN Boasts by rmx1: 6:47pm On Mar 29, 2017 |
LordAdam16: At the bolded , told people then and since ,we could have taken the bullet once in July 2016 when the official rates were moved from 199 to 280 then ,I strongly felt if a true float had been done then ,it would have shot up to 380 max and subsequently settled BTW 320 to 350,black market or speculators would have been no more relevant This protracted battle would not have been necessary The govt is between the devil and the sea ,hard choices will be made sooner or later .I Pray gods wisdom is given to them and that am wrong |
Re: We’ll Push Dollar To N305—CBN Boasts by LordAdam16: 7:06pm On Mar 29, 2017 |
rmx1: That is the major problem. The FG and CBN knows what to do. But they don't want to for political reasons. If you read the EGRP they just released. Nice economic plan by the way, but according to the plan, they'll float the Naira completely in 2020. Really, 2020. So, they know a float is inevitable, but Buhari does not want to float the Naira until he's elected again. That's the issue, they want to manage the rate doing protracted depreciations until election time, it's all politics. Which is why the long-term outlook for the USD/NGN rate is poor. Another round of interventions to drive the rate to N306 will not change the outlook. Poor is poor. Anyways, there's dollars in the reserve, let them keep wasting it. At least Nigerians don't mind. -Lord 2 Likes |
Re: We’ll Push Dollar To N305—CBN Boasts by modath(f): 8:09pm On Mar 29, 2017 |
LordAdam16: I refuse to panic!!! I'm going to believe CBN has 9lives. 3 Likes |
Re: We’ll Push Dollar To N305—CBN Boasts by onatisi(m): 1:54am On Mar 30, 2017 |
rmx1:I have stopped commenting much on many issues. Nigerins will learn with experience 3 Likes 1 Share |
Re: We’ll Push Dollar To N305—CBN Boasts by olujastro: 6:26am On Mar 30, 2017 |
I don't understand this CBN at all. I don't think smart people work there. Why not go all out in this fx war at once since you've chosen this path? You want to achieve 305. Black market fell to 365 on Tuesday, instead of reducing your rate for invisibles further on a daily basis from 360 while continuously injecting fx into the system till you attain 305 to further for crash the black market to between 310-315, you stay quiet for 48hrs and allowed the black market to rise to 375 again. Is the CBN not smart enough to know that at their price of 360 + bureaucracy, Nigerians will throng the black market instead at 365, and their increased demand will make them raise their rates? Or is there a plan to further devalue to 350? Mbok, they should just float the Naira at once if so. 3 Likes |
Re: We’ll Push Dollar To N305—CBN Boasts by Nobody: 7:44am On Mar 30, 2017 |
please they should bring it back to $250 where they met it before. |
Re: We’ll Push Dollar To N305—CBN Boasts by Nobody: 7:45am On Mar 30, 2017 |
STUPID PEOPLE .. Was it there before...? They should take it to where it was before they ascended that throne. We need PRE-BUHARI dollar price 1st |
Re: We’ll Push Dollar To N305—CBN Boasts by lonelydora: 7:45am On Mar 30, 2017 |
Good one but we need it below N200/$ |
Re: We’ll Push Dollar To N305—CBN Boasts by Nobody: 7:45am On Mar 30, 2017 |
dumo1:Don't mind the ingrates |
Re: We’ll Push Dollar To N305—CBN Boasts by AntiWailer: 7:45am On Mar 30, 2017 |
Until it gets to where you met it. Nothing to commend you for. 2 Likes 2 Shares |
Re: We’ll Push Dollar To N305—CBN Boasts by abescom: 7:46am On Mar 30, 2017 |
They should stop the madness if the impact is not going to be felt by us. What's the point of the naira gaining grounds over the dollar if prices of commodities aren't going down? Everyone especially people from certain regions in this country were shouting the rate of naira vs dollar was appalling which I agree ( even though I personally benefited from it). Now the dollar is now between N340 and N360 to a naira from the N520 record high but nothing has changed. Unfortunately we still have prices of things in the market as high as anything but no one is talking about it? Many were quick to hurl abuses at the government and especially Buhari now the needful have been done but no one is criticising the disgusting marketers and market women who are our real problem. Don't tell me for a minute that two weeks is not enough to crash down prices of stuffs that had gone up. Two weeks would certainly have been enough for them to skyrocket. And don't tell me they need to sell what they have in stock before bringing new prices, they never had to wait before increasing their prices when prices was shooting up as if they were heading for the moon. If only we can get on the back of the idiotas call importers, retailers, market women and etc as we do the government, maybe, just maybe things will change. Am I angry? Yes, I am angry, it is obvious. £100 now has less value in naira terms which is what we want but the buying power is still as small as before when reverse should be the case. bleeping disgusting and rretarded bastados dem marketers, importers and market women. 5 Likes |
Re: We’ll Push Dollar To N305—CBN Boasts by Andrewkinggg: 7:46am On Mar 30, 2017 |
NO!!!! Dollar should still sell @ 375 abeg oh!!!!! |
Re: We’ll Push Dollar To N305—CBN Boasts by donfemo(m): 7:48am On Mar 30, 2017 |
AntiWailer: Thank you very much. The Idiots met dollar at 185 and are boasting that they will push it to 305. just imagine the idiots. we will only commend CBN if dollar is NGN 120 1 Like |
Re: We’ll Push Dollar To N305—CBN Boasts by abescom: 7:49am On Mar 30, 2017 |
donfemo:You guys should stop fooling around already. Is crude price the same as it was in the world market when it was 185? Under whose regime did the naira started crashing due to the OIL factor? Use your head, it doesn't hurt. 5 Likes |
Re: We’ll Push Dollar To N305—CBN Boasts by Nobody: 7:51am On Mar 30, 2017 |
EVILFOREST:after deceiving the masses that they will make $1 = 1 naira just to get votes and we fell for the worst ponzi scheme ever. |
Re: We’ll Push Dollar To N305—CBN Boasts by Nobody: 7:52am On Mar 30, 2017 |
tspun: of what use is bringing dollar to N1 when it does not bring down prices of goods neither does it affect the life of ordinary nigerians living in the village. This is the mistake we made before using reserve to shore up Naira instead of using reserve to lift the standard of living. Bringing dollar down only benefit a section of the country 3 Likes |
Re: We’ll Push Dollar To N305—CBN Boasts by olamilekside2: 7:54am On Mar 30, 2017 |
Ok CBN |
Re: We’ll Push Dollar To N305—CBN Boasts by Nobody: 7:54am On Mar 30, 2017 |
tspun:Lol....... See Epic reply mehn! O boy! Nothing like return leg o.... Infact na C.RON Okocha go finish dem with Leg over... The game still dey on. |
Re: We’ll Push Dollar To N305—CBN Boasts by Akon419(m): 7:56am On Mar 30, 2017 |
So is no longer crude oil price that made this dollar 520# as defenders of dullard made us to believe. Chaii 1984 policy |
Re: We’ll Push Dollar To N305—CBN Boasts by Rayton(m): 7:58am On Mar 30, 2017 |
Mediocrity should not be celebrated.... Its a welcome development for the country but they will be applauded when we get to less than 200 or at that range.... |
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