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Nairaland Forum / Nairaland / General / Politics / Exchange Rate Under Buhari, The Truth. (11357 Views)
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Re: Exchange Rate Under Buhari, The Truth. by Firefire(m): 8:06pm On Dec 21, 2014 |
berem: Madam, Datolee is on a Special Mission on International League. Please leave am out of our Local League. 3 Likes |
Re: Exchange Rate Under Buhari, The Truth. by Batolee: 8:06pm On Dec 21, 2014 |
Obiagelli: There was no visible parallel market pre Buhari era apart from 1980 due to the global recession of 1980. The market picked up afterwards. It was during Buhari's regime that Parallel Market/Black Market became constant. GEJ is still trying to fix the black market mess Buhari created in 1984. Comprende? 4 Likes |
Re: Exchange Rate Under Buhari, The Truth. by Descartes: 8:09pm On Dec 21, 2014 |
Firefire: Obviously, she is not aware of the dude's mission. 4 Likes |
Re: Exchange Rate Under Buhari, The Truth. by Firefire(m): 8:09pm On Dec 21, 2014 |
Obiagelli: Ok. 1. Official rate of the currency is the declared amount by the Central Bank of Nigeria (This does not mean you will get the fx at the official rate) 2. The applicable rate to get your fx is in parallel market also called interbank rate. Hope this answers your question ? 2 Likes |
Re: Exchange Rate Under Buhari, The Truth. by Nobody: 8:10pm On Dec 21, 2014 |
atlwireles:Why not wait for datolee to answer my question, just keep cheering, don't go beyond your capacity |
Re: Exchange Rate Under Buhari, The Truth. by Descartes: 8:14pm On Dec 21, 2014 |
Obiagelli: See how your comrades have abandoned you. The cheering Datolee gets from the crowd is what gingers him to fire on without minding the casualty rate 7 Likes |
Re: Exchange Rate Under Buhari, The Truth. by CyberWolf: 8:14pm On Dec 21, 2014 |
Batolee:boss..what happened to your moniker 1 Like |
Re: Exchange Rate Under Buhari, The Truth. by Nobody: 8:16pm On Dec 21, 2014 |
Firefire: I am not asking you for definitions, my question and links are quite clear. The rate we are quoting for 1983 - 1985 is not from the CBN website and does not match 2013 on the cbn website. Btw the exchange rate at the bank is different from the blackmarket, what is the black market rate called? |
Re: Exchange Rate Under Buhari, The Truth. by CyberWolf: 8:16pm On Dec 21, 2014 |
Descartes:easy on her bro..I really like the babe sha tho she do goof sometimes but I no send..she is just earning a living you know ...street red you no understand? 1 Like |
Re: Exchange Rate Under Buhari, The Truth. by Batolee: 8:19pm On Dec 21, 2014 |
Firefire: She cannot understand, your explanation might be too technical for her. Type it in igbo language abeg 2 Likes |
Re: Exchange Rate Under Buhari, The Truth. by Nobody: 8:19pm On Dec 21, 2014 |
Batolee: Oh, i didn't know you switched moniker, that does not answer my question but what evidence do you have that buhari created the parallel market in 1985, he left office in August. What evidence do you have that the parallel rate was not for the last quarter of 1985 |
Re: Exchange Rate Under Buhari, The Truth. by atlwireles: 8:20pm On Dec 21, 2014 |
Obiagelli: , as long it's not your capacity, then I have many reasons to cheer in this Country. Knowing, almajiris and liars like you will never get close to the corridors of power again. Yep, I will keep cheering for datolee, as you make the usual ediot of yourself. 3 Likes |
Re: Exchange Rate Under Buhari, The Truth. by Descartes: 8:21pm On Dec 21, 2014 |
CyberWolf: I guess the Antispambot at work 3 Likes |
Re: Exchange Rate Under Buhari, The Truth. by Batolee: 8:21pm On Dec 21, 2014 |
1 Like |
Re: Exchange Rate Under Buhari, The Truth. by Firefire(m): 8:21pm On Dec 21, 2014 |
Obiagelli: Black Market rate is not subjective to this calculation, you can't find any black market rate anywhere than from the vendors. Our presentation only showcase Official Rate & Parallel Market and nothing more. Economist will never use black market rate as a subject of discussion. 6 Likes |
Re: Exchange Rate Under Buhari, The Truth. by dexpendable(m): 8:23pm On Dec 21, 2014 |
I believe if any of you Jonathan supporters have daughters who were kidnapped by terrorists and you see the President is practically doing nothing about it... you won't be deluded in this way.. The fact is Jonathan has ruled for 4 years and the situation has only gone worse.. I mean why do people complain that it's his enemies that are behind all this when whom we are talking about here is the President and Commander in Chief of the armed f***ing forces? Are we saying Jonathan's enemies are more powerful than he is? who is incharge in Nigeria? -Nigeria doesn't have its own national air career? you all are jokes. ... -Some places have not seen government electricity for close to 3 years. ... -We still transport our fuel through the roads when the rails can be constructed. ... -Nigeria doesn't have its own refinery. ... - All the aircrafts used by the Nigerian airforce are trainer aircrafts abroad. ... -The Nigerian police do not have patrol helicopters yet... So what exactly are we talking about? |
Re: Exchange Rate Under Buhari, The Truth. by Descartes: 8:23pm On Dec 21, 2014 |
Firefire: Gbam!!! Anyone who does that is a certified Pseudo economist #Fact |
Re: Exchange Rate Under Buhari, The Truth. by Firefire(m): 8:24pm On Dec 21, 2014 |
dexpendable: You miss road 2 Likes |
Re: Exchange Rate Under Buhari, The Truth. by Descartes: 8:25pm On Dec 21, 2014 |
Batolee: Chai... diaris... |
Re: Exchange Rate Under Buhari, The Truth. by Nobody: 8:26pm On Dec 21, 2014 |
Batolee: You definitely know i am not asking for definition. From that same source, are saying there was no parallel market from 2005- 2013? You just trying to be clever 2001 99-106 (104-122 PM) 2002 109-113 (122-140 PM) 2003 114-127 (135-137 PM) 2004 127-130 (137-144 PM) 2005 132-136 2006 128.50-131.80 2007 120-125 2008 115.50-120 2009 145-171 2010 148.21-154.8 2011 151.05-165.1 2012 155.09-161.5 2013 153.21-162.9 |
Re: Exchange Rate Under Buhari, The Truth. by CyberWolf: 8:26pm On Dec 21, 2014 |
Batolee:you wan obi to run mad ..firing her from all corner..abeg oo...I wonder why all other progressives abandoned her ...anyway do we really have northerners in this forum .. 1 Like 1 Share |
Re: Exchange Rate Under Buhari, The Truth. by Batolee: 8:28pm On Dec 21, 2014 |
Descartes: We have typed 5 pages to educate Madam Oby and she is still not getting the point, so I thought we should switch to her native language. 1 Like |
Re: Exchange Rate Under Buhari, The Truth. by major466(m): 8:29pm On Dec 21, 2014 |
Batolee:Who be this? Datolee is that you? |
Re: Exchange Rate Under Buhari, The Truth. by Nobody: 8:29pm On Dec 21, 2014 |
Firefire: Fantastic, just what i want to hear. Go back to my links and check 2013 cbn rates and our source, how come they don't tally since they are both official rates. www.cenbank.org/rates/ExchRateByCurrency.asp?beginrec=2401&endrec=2500¤cytype= en.m.wikipedia.org/wiki/Nigerian_naira |
Re: Exchange Rate Under Buhari, The Truth. by Firefire(m): 8:29pm On Dec 21, 2014 |
Obiagelli: Batolee is different from Datolee. Ok? Now, I will like to understand what you wish to achieve with your question. - Do you want to invalidate datolee submission of the 107% devaluation or want to know if there is no parallel market from 2005- 2013? What will be your point at the bolded ? |
Re: Exchange Rate Under Buhari, The Truth. by Firefire(m): 8:31pm On Dec 21, 2014 |
Obiagelli: What did not tally ? Official rate is official rate Parallel market rate is parallel market rate. So ? |
Re: Exchange Rate Under Buhari, The Truth. by Batolee: 8:31pm On Dec 21, 2014 |
major466: Boss, this is not Datolee. |
Re: Exchange Rate Under Buhari, The Truth. by Batolee: 8:33pm On Dec 21, 2014 |
Datolee, Datolee, Datolee, please come and quench this fire that you started. Oby needs to be put out of her misery. |
Re: Exchange Rate Under Buhari, The Truth. by Descartes: 8:34pm On Dec 21, 2014 |
Batolee: Yea it can be cos the initials are different and so of different entities |
Re: Exchange Rate Under Buhari, The Truth. by Firefire(m): 8:34pm On Dec 21, 2014 |
Everyone is learning. Now I extract your link. What is your question again Obiagelli? 1 Like
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Re: Exchange Rate Under Buhari, The Truth. by Nobody: 8:36pm On Dec 21, 2014 |
Obiagelli: Disclaimer, I only one moniker online. I do not need evidence when Buhari himself said that the exchange rate was about 1.2 to 1.5 by the time he left office, and my calculation was based on 1.5, not 1.7 found in the other website. Parallel market is different from black market. Parallel marker is more prevalence in developing countries where in most cases, they will have PEGGED exchange rate and market determine exchange rate. For example, the 2015 budget, the FG is exchanging at 165 to a dollar but you know, that is not market determines. About your other observations, you are right, in that it is difficult to find exchange rates information from 1980... However, whichever you looked at it, Naira lost value during Buhari 20 months regime even at a relatively stable oil price. I'm done and ready to sleep. 10 Likes 3 Shares |
Re: Exchange Rate Under Buhari, The Truth. by Nobody: 8:37pm On Dec 21, 2014 |
Firefire: Since the table isn't showing Parrellel rate for 2005 - 2013, is it safe to say there was no parallel market like datolee is claiming before 1985. 2nd official rate for 2013 on that table and the one on cbn's website do not tally. Therefore there is no way you or datolee can tell me that i can't get 0.894 from the bank in 1985. Finally this was clearly written on the Wikipedia page datolee got his figures from This table shows the historical value of one U.S. Dollar in Nigerian naira - PM = Parallel Market. [ citation needed ] |
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