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Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 7:49pm On Apr 17, 2016 |
ChoCandyDiamond:That's waht I just said and someone was arguing. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by KingGBsky(m): 7:50pm On Apr 17, 2016 |
sensible youths shud come 2geda 2 bring transforning ideas for this country instead of being negative in blaming and fighting oppositn govt. We can only help each other. #WereIsTheLove |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 7:53pm On Apr 17, 2016 |
989900:Are we not missing something here,the Yuan is heavily regulATED, EVEN THE CHINESE EXPORTERS do not trust it hence the rather sell in Dollars WHo here has ever bought a container load of any goods in YUAN if you buy from shops and do weigh Bill to Lagos then yeah, but if you go to factory where minimum purchase in 1x20 ft container then I am afraid its dollars. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 7:55pm On Apr 17, 2016 |
KingGBsky:Govt are wicked they have always been to the youths, they dont care about you and me rather themselves only.If this govt really cares why not freeze tax on goods we export at least eh chinese have this kinda freeze |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 7:56pm On Apr 17, 2016 |
ChoCandyDiamond:Oyeha we forget Zimbabwe, that's waht they did. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by amtaken(f): 7:57pm On Apr 17, 2016 |
This is exactly how people sound when they are caught red handed. haywire1: |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by BodyKiss(m): 7:58pm On Apr 17, 2016 |
amtaken:Do you also ask for proof when the news favours you? Hypocrite. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by cardoctor(m): 7:58pm On Apr 17, 2016 |
China is trying to break the dollar jinx. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Nobody: 7:58pm On Apr 17, 2016 |
amtaken:...........Go to the BDCs the proof dey inside dem office! |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 7:59pm On Apr 17, 2016 |
Heffalump:Since we are directly under our state government it would be nice for us to ask our state governors what they did with their share B4 we go to federal govt |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 8:00pm On Apr 17, 2016 |
BodyKiss:The proof is in Zimbabwe |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by igwegeorgiano(m): 8:02pm On Apr 17, 2016 |
SamuelAnyawu:hmmmmm watching from an iroko tree in daura forest. when the naira appreciates against da dollar i will come down. meanwhile, am suspending myself on this iroko tree till 2019. damboroba shege biu |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 8:02pm On Apr 17, 2016 |
MENTORCH:SO you think they are going to hold physical YUAN |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 8:03pm On Apr 17, 2016 |
igwegeorgiano: dont worry in 2019 you will hit teh ground running |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 8:04pm On Apr 17, 2016 |
amtaken: |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by MENTORCH(m): 8:09pm On Apr 17, 2016 |
erico2k2: No they will hold spiritual YUAN, is it not a currency? 2 Likes |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Jacko1(m): 8:17pm On Apr 17, 2016 |
dustmalik: Wailers you so dumb.... U very dumb any dude wif a joystick knows we ought to trade with yuan as well as dollar Maybe its big news for your illiterate self To me its long overdue Guess fuel selling for 87 at this kain times that oil price per barrel has drop wil amaze u as well Again u dumb u very dumb |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 8:19pm On Apr 17, 2016 |
MENTORCH:I suggest we visit the terms of the swap agreement. what happened to the PAY THE SUPPLIER ON OUR BEHALF part of the deal?or you are forgetting is loaned? or mayB Im the one not getting the gist right |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Deadlytruth(m): 8:26pm On Apr 17, 2016 |
SamuelAnyawu: And when crude oil prices appreciates in addition to that the Dollar will fall still further. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Sant1m: 8:29pm On Apr 17, 2016 |
Flets:Hate, can be very devastating. Its a Swap deal, China I.e advance Nigeria 4B Yaun. CBN sell the Yaun to importers at a mark up, China buys from us and pay in Dollars. Remember the balance of payment is in China favour. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by 989900: 8:29pm On Apr 17, 2016 |
erico2k2: Chinese manufacturers will always quote in dollars, no doubt . . . neither did we have a choice than oblige them. That helps them cook the books, like you rightly mentioned earlier . . . they will tell you, for larger transactions you'll have to pay to their Hong Kong dollar account and yada, yada, yada . . . But, like I said earlier, it's up to you to tell them and insist you have only yuan, especially since that should favour us now. There are tons of suppliers in China, you have to know your way around. Worst case scenario, transfer your Yuan to China and change it to dollar (the loss is negligible) -- I have done transactions in excess of $100k (probably that's not big enough to qualify for your scenario) with companies in China -- you need to know your way around the city and around the system, the Chinese themselves will tell you the mutually beneficial thing to do. What the Yuan deal affects directly is, the artificial pressure on the dollar in Nigeria, especially BM and parallel market rates (such as you will see the BM rate move closer to the CBN rate -- it won't automatically make the Naira gain more than 5-10% against the Yuan at the CBN rate, until the Naira appreciates against the dollar for real at official rate (that takes more than a Yuan deal to achieve, that takes earning more from exports,and reducing imports by manufacturing, refining our own oil, and smart-out-of-the-box monetary policies). P.S. I know you won't still agree, but like always, in few days or weeks as usual between you and I, my position on the matter will be practically re-confirmed for you to verify. 1 Like |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by erico2k2(m): 8:59pm On Apr 17, 2016 |
989900:I am not disputing what you said, however Im considering the Zimbabwe factor.I think most of us Nigerians will still prefer to buy Yuan in Nigeria convert it to Dollars in China as sales in Dollars give them the Chinese factories forex and tax rebate.Also bear in mind the vast majority of goods we buy from china own their parent companies outside of china, ie the major phones,Electronics and car parts.They where attracted to china cos of cheap labour less robots more manpower.I think the owners too would prefer dollars to the yuan.Anyway like you say, let us see waht the coming months bring but i n all with the present state of affairs, something got to give ooh or else we are in deep poo.Everybody is holding on to their physical cash. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Nobody: 9:10pm On Apr 17, 2016 |
"if" but even China keeps their reserves in dollars.... International Trade and Finance Econs 702. SamuelAnyawu: |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Omobolaji20(m): 9:25pm On Apr 17, 2016 |
modath: Bros, u are not a finance person. Speculation effect |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by capnies: 9:26pm On Apr 17, 2016 |
that move will flood the country with dollars and any appreciation of the dollar against the yuan will depreciate naira. Nigerians buy the yuan travelling to China Chang the yuan to dollar buy from anywhere in the world or better come home with the dollars. scarcity of dollar in China will depreciate the yuan affecting the naira |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by agabaI23(m): 9:27pm On Apr 17, 2016 |
I used my ATM just yesterday and I was charged 357 for 1 euro.... So what are they saying? |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Flets: 9:30pm On Apr 17, 2016 |
Sant1m: We buy items worth billions of dollars monthly from china, so what does china buy from you to balance out payments? |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by fareed69(m): 9:34pm On Apr 17, 2016 |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by slizzyvera(f): 10:07pm On Apr 17, 2016 |
Should we see this as negative or positive change? |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by okanla: 10:13pm On Apr 17, 2016 |
amtaken:continue asking Thomas |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Splinz(m): 10:14pm On Apr 17, 2016 |
I've heard enough propaganda and outright lies, I say enough! Implement the policy that I may benefit, only then will I commend the good work. |
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Dblpleasure(f): 10:16pm On Apr 17, 2016 |
Silly post, doesn't matter what currency u use, a naira wil only be worth what it's worth |
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