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Nairaland Forum / Nairaland / General / Business / Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate (42556 Views)
FOREX: CBN Introduces New Rules, Naira Closes At 367/$ / Forex: CBN Sanctions 12 Banks For Frustrating Small Businesses / Forex: CBN Pumps Additional $100m Into Market (2) (3) (4)
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Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by daddyrich: 7:48am On May 25, 2016 |
SamuelAnyawu:As in? you don't know what to say or you didn't understand the article? 5 Likes 1 Share |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by zeusdgrt(m): 7:50am On May 25, 2016 |
TPAND:You be really Zombie for life! 2 Likes |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by Saintp(m): 7:55am On May 25, 2016 |
tweetsme: My friend channel your hate to your present and past govt. You people always like to hold the man very far way from your shores accountable instead of your own govt who has the direct responsibility of making things better for you. Stay there the call IMF. 2 Likes |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by anigold(m): 7:55am On May 25, 2016 |
ijija:i seems to agree with your view, but why take up a job where you wont be allow to exercise your mental ability and discretion.. 1 Like |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by gratiaeo(m): 7:58am On May 25, 2016 |
Who are the beneficiary of "special window" and what qualifies one? Buhari and his team are jokers 4 Likes |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by Nobody: 7:58am On May 25, 2016 |
priceaction: Bros your wrong, the first day the CBN gave up hand to the bureau de change as against our national bank to handle dollar exchange was the day the national economic problem got worst. I said it here, how can NNPC decide to sell petrol to black marketers as against our normal fuel stations. That is an abuse and every abuse has a dangerous consequence which is what we are seeing. Now let assume the CBN had used the banking system and pegged the dollar then at 230 naira. It means if you must buy from bank it must be 230 nationwide and if you must sell it must be below 230. As you and me know that 90% of dollar entering the nation goes through the bank. Therefore, the bureau de cahnge will adjust to be at par with the bank. But instead of that happening it is the bank that are adjusting now to that black market. 1 Like 1 Share |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by dalaman: 8:00am On May 25, 2016 |
chigoizie7: Which marketers are you talking about pls. Black marketers or what? 1 Like |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by biggie73(m): 8:00am On May 25, 2016 |
adenine02:....you should know the ordinary people will sweat it out... 1 Like |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by redcliff: 8:00am On May 25, 2016 |
Pangea:Lmao!!! |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by Nobody: 8:00am On May 25, 2016 |
THEY HAVE SIMPLY DEVALUED THE NAIRA BUT ARE ASHAMED OF SAYING IT CLEARLY. THEY KNOW THAT THE ZOMBIES WILL KEEP FOLLOWING THEM UNTILL APC BURRIES NIGERIA. Buharis is indeed a nepa bill certificate holder. CONGRATS TO THOSE YORUBAS WHO NEARLY GOT KILLED FIGHTING TO INSTALL THIS DEAF, DUMB AND CRIPPLE PRESIDENT. 1 Like |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by anigold(m): 8:03am On May 25, 2016 |
ibedun: am not saying that jona was perfect but things were better in his socalled bad administration.. Sometimes the devil you know is better than the angel you dont know... Buhari is not a good economic planner and the nation is currently suffering cos of that,dont tell me about low oil prices because its not only Nigeria that is experiencing low prices.. The problem is that since 1960 most of our leaders have been stealing and stealing with no plan for the future, so its hypocritical to blame all Nigeria's corruption-driven-problems on Jona's 8 years rule... Nigerians forgets so easily,remember we have 3 leaders called Abacha,ibb and obj please take a few minutes and look at how much monies went missing unaccounted for,yet today they are now saints.. Iso right... 5 Likes |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by 4nobody4every1: 8:05am On May 25, 2016 |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by JAkpayen(m): 8:07am On May 25, 2016 |
The country has finally slided into recession. This is so so painful. 1 Like |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by knightsTempler: 8:08am On May 25, 2016 |
Analysts questioned the wisdom of announcing a major shift in policy without spelling out how to implement it. 1 Like |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by OFFICIAL336: 8:09am On May 25, 2016 |
segalex:Constitutionally, the VP is the head of the national economic team by virtue of being the Chair of the NEC. |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by obailala(m): 8:13am On May 25, 2016 |
blackpanda:It has alread started happening. They've already littered the thread with their emptiness, all they care about is just to wail and oppose, they've got absolutely nothing in their skulls. Govt refused to devalue, they complained; govt has now devalued, they still complain and curse. Such daft twerps. 2 Likes 1 Share |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by Terror666(m): 8:15am On May 25, 2016 |
In three sentence, somebody should please summarize 1 Like |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by caesaraba(m): 8:17am On May 25, 2016 |
Uduak2019: Walahi my brain froze on the second paragraph. |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by Adeniyimi: 8:19am On May 25, 2016 |
obailala: That's Nigeria my friend. Too many dumbs |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by sanusidabo: 8:20am On May 25, 2016 |
On no account should the CBN legalized the illegality, we challenge them in court. Concern Citizens for Better Nigeria |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by Dam5reey(m): 8:21am On May 25, 2016 |
soulpeppersoup: Thank you for this comments seems the government and banks are doing something behind... If you are making online payment Bank will charge at parrallel market rate N320 whereas when you receive money in foreign currencies banks credit you using CBN rate of 197.. about N120 difference... God is watching anyways.. I was banned for some hours na wa oo... In this economy status anything just dey happen... |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by Nobody: 8:23am On May 25, 2016 |
TechRev:for politicians children school fees. |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by Dam5reey(m): 8:23am On May 25, 2016 |
Terror666: If you had this time to comment... You would have read one thing or the other... The Topic says everything.. |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by basingstoke: 8:24am On May 25, 2016 |
chigoizie7:my broda, now we know who is the fool. God help us |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by luckylucky: 8:25am On May 25, 2016 |
Chai exponential hardship on innocent Nigerians. I think this old man called Buhari should just resign before things finally carved out. He needs to settle home with his grandchildren. Nigerians have bleed hard under this useless government called APC PARTY. |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by Nobody: 8:26am On May 25, 2016 |
...... |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by lexyclasy: 8:28am On May 25, 2016 |
Pangea:When Gov Fayose told you guys to devalue Naira you responded that he is a tout....now you are devalued it indirectly......Experimental Government................Yaradua came with 11-piont agenda, GEJ comes up with 7-point agenda......this government till now we don't know your agenda 1 Like |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by asids55: 8:28am On May 25, 2016 |
Harrisonwo: please answer this question. ...how much was a barrel of crude during GEJ'S regime,and how much is it now?please do you even have an idea of what's behind this scarcity at all?I doubt that cause for u to suggest that we invite gej of all people to come help out means you dont |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by chigoizie7(m): 8:29am On May 25, 2016 |
dalaman: Commercial banks inclussive. |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by kay4all(m): 8:29am On May 25, 2016 |
I really pity this country for lack of proper planning and lack of proper policy implementation. Instead of putting in place infrastructures such as good roads, electricity, good policies to encourage investors to come in and invest in our economy, they are there making policies that will worsen the current hardship Nigeria is facing. Some of you might argued that allowing forex to free market would turn things around for better but trust me it won't. Reason being that the fact that Nigeria hardly export, so there would be an unfavourable balance of trade as our import will definitely be greater than export. And by this, the naira tends to become weaken and dollar tends to gain more strength. So expect dollar to naira at$1- #450 and above . And do u know what that means? Virtually all all our usable goods are going to be on the hike price(hyper inflation) without corresponding increment in salaries of workers. So my advice for the large populace of Nigeria is that everyone should try and prepare ahead for a expectations of economic hardship. This can be done by saving and investing your little resources in agriculture in one way or the other to survive this hardship provided this policy isn't revised and reviewed |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by Nobody: 8:29am On May 25, 2016 |
Dam5reey: That is robbery. Imagine a nation no one cares. |
Re: Forex: CBN Throws Naira Into Open Market, Nullifies N197/$ Exchange Rate by skyhighweb(m): 8:33am On May 25, 2016 |
Nelkoko:i tell u, n i dey read mass comm, i thought news was suppose to b flexible |
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Sani Dangote's Burial In Pictures / Shoprite Shutdown In Owerri As Police Takeover Premises / GTBank's Internet Banking Services...totally OVER-HYPED!
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