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Nairaland Forum / Nairaland / General / Business / We Can’t Float Naira, Cbn Tells Imf (25686 Views)
We Have Enough FOREX, CBN Tells Investors / It Is A Criminal Act To Deface Naira – CBN Warns Nigerians / Recession: It’s Up To You, CBN Tells Government (2) (3) (4)
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Re: We Can’t Float Naira, Cbn Tells Imf by Fluidelvis(m): 7:47am On Apr 22, 2017 |
Most times these foreign economists don't take in d dynamic peculiarities of each independent nation. They just sit back within the confines of their own good economies & generally speculate.. ThankGod we still have some level-headed directors at CBN! Wey don sire 8 Likes 3 Shares |
Re: We Can’t Float Naira, Cbn Tells Imf by Victornezzar: 7:48am On Apr 22, 2017 |
alizma:U 4 just speak pidgin na 4 Likes |
Re: We Can’t Float Naira, Cbn Tells Imf by donbenie(m): 7:49am On Apr 22, 2017 |
Allowing the Naira to float is not in the best interest of a country with little or no economic diversity,a Naira at #700 to the dollar benefits only the speculators and economic Saboteurs.. IMF and Co are living in a synthetic bubble without putting the country's practical situation into account,l say kudos to the CBN for rejecting this half baked advice..Who IMF epp? 5 Likes 1 Share |
Re: We Can’t Float Naira, Cbn Tells Imf by Nobody: 7:50am On Apr 22, 2017 |
You don't float your local currency! Not with so much foreign exchange speculators and holders! You will make them too rich! 6 Likes |
Re: We Can’t Float Naira, Cbn Tells Imf by Adagba01: 7:51am On Apr 22, 2017 |
Good actions from team Emefiele. But, he was there Buhari came and I have never seen him being meticulous like this. 1 Like |
Re: We Can’t Float Naira, Cbn Tells Imf by breezeng: 7:51am On Apr 22, 2017 |
Our Government will be so foolish to float Naira again with d bad result from previous one. I know this government is using trial and error method. They have tried it,and it didn't work. Why going back to d policy |
Re: We Can’t Float Naira, Cbn Tells Imf by menxer: 7:51am On Apr 22, 2017 |
nairaman66:That syncs well with your moniker. |
Re: We Can’t Float Naira, Cbn Tells Imf by breezeng: 7:52am On Apr 22, 2017 |
Please don't float Naira if you don't want to kill the poor. The semi floating d cbn did did no good but raised dollar to over 500. Kudos to cbn for their intervention. Those crying for floating are doing it for there business and selfish intrest. 1 Like |
Re: We Can’t Float Naira, Cbn Tells Imf by Abagworo(m): 7:52am On Apr 22, 2017 |
No oil dependent economy is doing as well as Nigeria. 7 Likes |
Re: We Can’t Float Naira, Cbn Tells Imf by rottennaija(m): 7:52am On Apr 22, 2017 |
Basically, Nigeriana are so wicked even to themselves 2 Likes |
Re: We Can’t Float Naira, Cbn Tells Imf by Nobody: 7:54am On Apr 22, 2017 |
Keemy88:They float the dollar last year! It naira couldn't get strength in the market tho... Well they didn't think it well in the first place. You cant float the dollar with the factors around our market, where you have more than one or two exchange rate! It was a no brainier from start! |
Re: We Can’t Float Naira, Cbn Tells Imf by donbenie(m): 7:54am On Apr 22, 2017 |
YelloweWest:It means allowing the Naira to be BATTERED by the forces of Demand and Supply without government interference,in other words giving Speculators a field day to finish off the Naira.. 3 Likes |
Re: We Can’t Float Naira, Cbn Tells Imf by sweetilicious(f): 7:59am On Apr 22, 2017 |
breezeng:Exactly 1 Like |
Re: We Can’t Float Naira, Cbn Tells Imf by alizma: 7:59am On Apr 22, 2017 |
Keemy88:Hatred has destroyed you so much that you don't even understand what you read before you make comment any more. your statement about CBN dollar intervention also shows that you don't even have knowledge as to how the economy functions. |
Re: We Can’t Float Naira, Cbn Tells Imf by maasoap(m): 7:59am On Apr 22, 2017 |
KingLennon:At least, you're smart enough to see where the four tyres are facing. That's the direction. 3 Likes
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Re: We Can’t Float Naira, Cbn Tells Imf by alizma: 8:01am On Apr 22, 2017 |
Victornezzar:lol, I won occupy space ni |
Re: We Can’t Float Naira, Cbn Tells Imf by Victornezzar: 8:02am On Apr 22, 2017 |
alizma:kai u no go make heaven cos of all dis tinz ooo |
Re: We Can’t Float Naira, Cbn Tells Imf by verygudbadguy(m): 8:03am On Apr 22, 2017 |
kitaatita: The IMF, World bank and other international agencies see Nigeria as a normal country. Hence, the reason for their frequent advice on currency floating. All things being equal, float will make a normal country's currency to find its place, its through value. But in an abnormal setting like Nigeria, float will sink the Naira. This Oyinbos no dey see wetin we dey see. Those Fiscal and Monetary policies we studied as an economics grad can never work in this country if we remain abnormal. When some people stashed million of dollars somewhere and created artificial scarcity of the currency, Oyinbo sabi dat one. Kudos to CBN, they have learnt their lessons.. Do whatever works to save our Naira.. 8 Likes 2 Shares |
Re: We Can’t Float Naira, Cbn Tells Imf by davidif: 8:03am On Apr 22, 2017 |
YelloweWest: It means letting market forces (demand and supply) determine the value of your currency as opposed to pegging it to the dollar as we are doing now. What naija is doing is that it is artifically trying to boost the value of the naira which doesn't sound so bad to the average person but in reality it makes no sense because in other to do this, you have to dig into your foreign reserves to do so. That's why foreign govts, organizations and outside investors have continually told the CBN to let the naira float instead of trying to artifically prop up the naira but our govt does not want to do so. 6 Likes |
Re: We Can’t Float Naira, Cbn Tells Imf by nkemma54(m): 8:04am On Apr 22, 2017 |
fatymore:A floating exchange rate is a regime where the currency price is set by the forex market based on supply and demand compared with other currencies. This is in contrast to a fixed exchange rate, in which the government entirely or predominantly determines the rate. |
Re: We Can’t Float Naira, Cbn Tells Imf by Rogersmith(m): 8:04am On Apr 22, 2017 |
Abagworo:It is a miracle I tell you. Look at the sorry state of Venezuela... 3 Likes |
Re: We Can’t Float Naira, Cbn Tells Imf by davidif: 8:05am On Apr 22, 2017 |
MabraO: What they are simply saying is that the fed govt should stop artificially trying to prop up the naira and let the market determine its true value. 3 Likes |
Re: We Can’t Float Naira, Cbn Tells Imf by verygudbadguy(m): 8:06am On Apr 22, 2017 |
Fluidelvis: Exactly... The naira sank under 1 yr with the semi float they did. If they agree again, na 1000 we dey go. 2 Likes 1 Share |
Re: We Can’t Float Naira, Cbn Tells Imf by davidif: 8:07am On Apr 22, 2017 |
Hawlahscho: What they are simply saying is that the fed govt should stop artificially trying to prop up the naira and let the market determine its true value. 1 Like |
Re: We Can’t Float Naira, Cbn Tells Imf by davidif: 8:07am On Apr 22, 2017 |
sammyscholar: What is an apex bank? |
Re: We Can’t Float Naira, Cbn Tells Imf by alizma: 8:09am On Apr 22, 2017 |
Victornezzar:hahaha, if God de reason like you, your entire family go burn for grave before the judgment day. |
Re: We Can’t Float Naira, Cbn Tells Imf by AdeniyiA(m): 8:11am On Apr 22, 2017 |
emmanuel2015: Confusing Bulk of Nigerians 2 Likes |
Re: We Can’t Float Naira, Cbn Tells Imf by davidif: 8:12am On Apr 22, 2017 |
Rogersmith: Trust me, Nigeria is not that far off from Venezuela. In fact, we are doing almost the same thing Venezuela is doing. The only difference is that they are a socialist state and we are sort of a capitalist/oligopoly 3 Likes 1 Share |
Re: We Can’t Float Naira, Cbn Tells Imf by mrvitalis(m): 8:12am On Apr 22, 2017 |
YelloweWest: It means allowing the value of ur currency to be determined by only forces of supply n demand ...government will remove their hands from defending the naira 2 Likes |
Re: We Can’t Float Naira, Cbn Tells Imf by Nobody: 8:12am On Apr 22, 2017 |
How can foreign investors come into the country in the absence of electricity supply,security,government incompetency and political instability? 5 Likes |
Re: We Can’t Float Naira, Cbn Tells Imf by Temptee101(m): 8:13am On Apr 22, 2017 |
blackpanda: blackpanda: |
Re: We Can’t Float Naira, Cbn Tells Imf by obailala(m): 8:15am On Apr 22, 2017 |
Guyman02:Is this particular self adulation/encomium/patronisation really necessary?.... This is the exact sort of supremacist statements that fuels tribal envy/hate and the needless tribal fights. 1 Like |
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