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Cbn “optimistic” Naira Will Settle At 250 Per Dollar - Business (3) - Nairaland

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‘Anyone Caught Abusing The Naira Will Face Jail Terms’ – CBN Warns Nigerians / Naira Declines By 0.82%, Settle At N370/$ / N200 Per Dollar Proposal: Ifeanyi Ubah Stakes N500bn Assets (2) (3) (4)

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Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by Spain007(m): 3:25pm On Jun 17, 2016
chucksbadt:
Is this New CBN policy only going to affect the dollar?.......what happens to pounds and Euros?

Someone should please explain this for me in a Layman's term
Once dollar drops,automatically d rest currencies drops aswel.
Lets see what will happen by monday
Still counting.
Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by TiriB12(f): 4:18pm On Jun 17, 2016
That is our prayers so that prices would go down. Everyone is now budgeting and checking expenses while savings are seriously going down.
Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by Oluwasola055: 4:29pm On Jun 17, 2016
[quote author=vicadex07 post=46632128]Make dem do quick abeg...this dollar bulshhhhi is really affecting my importation business[/quote Please I want u to put me through on the importation business. Please contact me tru this gfrancis687@gmail.com
Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by Nobody: 4:46pm On Jun 17, 2016
marv1:
What is the correlation?. U have made no point. Meaning?
u know whom i was referencing in that quote.....itx obvious even to a three year old.
Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by Nobody: 5:20pm On Jun 17, 2016
Spain007:

Once dollar drops,automatically d rest currencies drops aswel.
Lets see what will happen by monday
Still counting.

Please I'm not an economist but why does it seem like the U.S. Dollar is the controlling currency in the world? You just said that if the dollar drops other currencies drop. I don't understand. In terms of exchange rate pounds and euros are higher so why is it that the dollar is that powerful?
Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by ladyF(f): 6:14pm On Jun 17, 2016
These guys are confused sha. So it will miraculously jump from 370 to 250? I just weak abeg!
Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by 989900: 6:59pm On Jun 17, 2016
chistev12:


Please I'm not an economist but why does it seem like the U.S. Dollar is the controlling currency in the world? You just said that if the dollar drops other currencies drop. I don't understand. In terms of exchange rate pounds and euros are higher so why is it that the dollar is that powerful?

It is the world's 'vehicle currency' and 'reserve currency' (a common denominator or reference if you will). It is a largely fairly stable old big economy, with the largest gold reserves in the world as backup too.
Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by Spain007(m): 7:07pm On Jun 17, 2016
chistev12:


Please I'm not an economist but why does it seem like the U.S. Dollar is the controlling currency in the world? You just said that if the dollar drops other currencies drop. I don't understand. In terms of exchange rate pounds and euros are higher so why is it that the dollar is that powerful?

the US dollar is easily the most traded currency on the planet

1 Like

Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by tonquendo4u(m): 7:46pm On Jun 17, 2016
vicadex07:
Make dem do quick abeg...this dollar bulshhhhi is really affecting my importation business
custom duty is gonna get very high.Imagine when they punch ur Paar with 250 instead of 197
Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by erico2k2(m): 8:22pm On Jun 17, 2016
Spain007:

Once dollar drops,automatically d rest currencies drops aswel.
Lets see what will happen by monday
Still counting.
Not really, the Dollar rate has no bearing on teh Pounds
Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by 989900: 8:59pm On Jun 17, 2016
tonquendo4u:
custom duty is gonna get very high.Imagine when they punch ur Paar with 250 instead of 197

Customs is already at 285.
Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by Nobody: 9:29pm On Jun 17, 2016
989900:


It is the world's 'vehicle currency' and 'reserve currency' (a common denominator or reference if you will). It is a largely fairly stable old big economy, with the largest gold reserves in the world as backup too.

If that's the case and the U.S. Dollar is the currency of the world's largest economy then why does it lag behind the pounds and euros in exchange rates? Please forgive me if the question seems stupid. economics is not my field
Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by isnovic(m): 10:36pm On Jun 17, 2016
Baba oya come travel again O!!! as e bi like say na when you travel your Govt dey release their bombshells.

All the bomb shells released so far has been when you are away.

Now that you are in London, a lot has happened.

Now currency as been officially deregulated in disguise of floating the currency.

This bombshell will cause the economy to rise from the ashes of terrible currency management decisions that has battered the economy.

However, I like you delegation style with no guilt of pronouncing some of these hardship inducing policies.
Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by Spain007(m): 11:44pm On Jun 17, 2016
chistev12:


If that's the case and the U.S. Dollar is the currency of the world's largest economy then why does it lag behind the pounds and euros in exchange rates? Please forgive me if the question seems stupid. economics is not my field
It's difficult to answer your question definitively because there are many economic indicators which affect the value of a specific currency, eg interest rates, balance of trade, inflation, employment, manufacturing output, fiscal policy, foreign reserves, yields on government bonds, political environment and gross domestic product.

These indicators help the market determine the value of the currency relative to another to determine the fundamental supply/demand and ultimately the price.
Re: Cbn “optimistic” Naira Will Settle At 250 Per Dollar by 989900: 5:57am On Jun 18, 2016
chistev12:


If that's the case and the U.S. Dollar is the currency of the world's largest economy then why does it lag behind the pounds and euros in exchange rates? Please forgive me if the question seems stupid. economics is not my field

It is the agreed and dependable reference point for all other currencies so to speak.

It does not mean it will be the one with the highest value. The kuwaiti dinar for example is 3 times stronger than the dollar, and about 2 times stronger than the british pound. And it is pegged in value againt the dollar.

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