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Nairaland Forum / Nairaland / General / Business / Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ (22217 Views)
Naira Gains On Better Than Expected Economic Growth / Naira Improves On Parallel Market, Sells At N501/$ / Naira Maintains Gain On Parallel Market (2) (3) (4)
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Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by Incrizz(f): 8:59am On Feb 25, 2017 |
seunmsg:That's the point. Buhari was building reserve. Osibanjo is flooding the economy. It's a matter of PMB, PYO Please, I never insinuated that reserve shouldnt be built but PYO's tilt is far better than PMB's 1 Like |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by martineverest(m): 8:59am On Feb 25, 2017 |
unclezuma:not true....this will give investors more confidence to invest...dont also forget that crude oil price is increasing surprisingly.this will increase our foreign reserve,which has been increasing astronomically since last december |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by Nobody: 9:02am On Feb 25, 2017 |
martineverest: My opinion. |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by kolaaderin: 9:02am On Feb 25, 2017 |
martineverest: Haba, how much is $500. Is Yakubu not a Nigerian. $9.8m just from one bunker na beans. 1 Like |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by Truth234(m): 9:04am On Feb 25, 2017 |
Bevista: You still do not understand how this works. We are talking about forex generation here, not the total revenue generated. Taxes, commissions, etc are used for fiscal spending since they are generated in Naira, whereas foreign loans are used to cushion the economy and finance capital projects via interbank forex market which exchange it at 305/$ for contractors. Also, when you calculate expenditure always remember to exclude 'amount exchanged/auctioned' by the CBN. Except when it is used to clear backlogs. Please note that oil revenue is just 10 percent of the GDP. Another thing is that the CBN has been adding about $100 million to reserves on a daily basis for the past one week. So they have plans and clearly know what they are doing. |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by wristbangle: 9:04am On Feb 25, 2017 |
I have learnt a lot from the economists in this thread. Thanks for the insightful and diplomatic arguments. I just pray that the positive impact on the foreign exchange hence less pressure on the naira is sustainable (continuum process). Though some credit should be given to PYO for his diplomatic/peaceful dialogue with oil producing states communities as militants attack on oil facilities has reduced drastically albeit contributing oil production increase. With the crude price above $50 per barrel against the bench mark of $37 for our budget leaving minimum of $13, such difference is being reflected today as foreign reserve is getting fat, naira gaining value and more forex available for manufacturers,traders to import raw materials, machinery, etc, to meet their production needs. Also, we also need to know that non oil sectors are improving though at a snail speed and if these trends continues, I believe before 2020, Naira may exchange at N150 per dollars, resulting to reduction in inflation rate with employment rate higher, improve power generation and other positive trends, I just pray corruption will not ruin this trend. 3 Likes |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by Proudlyngwa(m): 9:04am On Feb 25, 2017 |
mars123:The current rise in oil price has led to the surplus in FX, even with the peace talks, if we had low crude price, we won't have achieved this, not forgetting he was appointed to lead the peace talks by the President as well as made the head of economic team by the President. I hope the refineries can come on stream, then you will know the real power of the Naira. 2 Likes |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by Proudlyngwa(m): 9:12am On Feb 25, 2017 |
Incrizz:Osibanjo is not flooding the economy, the reserve has been built to a level that gives foreign investors hope. Don't forget that when dollobecomes so low, investors might not want to come in, A big mistake was made in agreeing to devalue, for investors to come in, when we still had boko haram in the north and militancy in the south, as well as funny herds men everywhere, who would have wanted to invest in such a situation. We have relative peace now, let's hope investors will come, so we can push the dollar down further. 2 Likes |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by nwabobo: 9:18am On Feb 25, 2017 |
martineverest: We are nit talking about recession here, we are talking about exchange rate. |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by xpiranza: 9:19am On Feb 25, 2017 |
YOU GUYS SAID NIGER DELTA IS NOT IMPORTANT SO EVERY THING IN IS DEPENDENT ON THE OIL....IF THEY BLOW UP PIPE LINE NOW MEANS WE ARE BACK TO SQUARE ZERO....SO THE NORTH NOR THE WEST DO NOT MOVE OUR ECONOMY GOD BLESS THE SOUTH SOUTH AND SOUTH EAST IF NOT NIGERIA WILL BE LIKE ZIMBABWE 2 Likes 1 Share |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by kaboninc(m): 9:25am On Feb 25, 2017 |
2dugged: The most important thing is stability. Ones that is settled then we know the direction |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by Nobody: 9:27am On Feb 25, 2017 |
Truth234:OK, I'm an economist. 1 Like |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by AminuRano87(m): 9:27am On Feb 25, 2017 |
emmabest2000:is that what you like? |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by martineverest(m): 9:30am On Feb 25, 2017 |
kolaaderin:my guy,na u dey look am dat way....if 10,000 ppl hoard 5OO dollars and another hoard 200 dollars,do u know the implication? 1 Like |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by achieverme(m): 9:32am On Feb 25, 2017 |
seunmsg: If you insist osinbajo has no hand in this policy, why not ask yourself why such policy was never put in place when Buhari was around? And have you forgotten that osinbajo is the head of the Presidential Economic Team? Why are you so angry? This link below may help enlighten your ignorance. Even if you lack the sense of reasoning to apologise, you may have the morality to stop spreading lies and bad blood around the place. https://www.nairaland.com/3649241/how-naira-went-n525-1 1 Like |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by gabrielniy(m): 9:43am On Feb 25, 2017 |
HAH:Exactly. It happened in the era of soludo, where the diff with parallel market was not up to #5. Welcome development 1 Like |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by BizBayo: 10:10am On Feb 25, 2017 |
Truth234:Hello bro, I sent u a message. |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by Truth234(m): 10:42am On Feb 25, 2017 |
BizBayo: Replied. |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by Incrizz(f): 10:43am On Feb 25, 2017 |
Proudlyngwa:Sorry, did you read the OP? That CBN announced a new forex policy on Monday And you still haven't seen this on FP right now? Here's the link: https://www.nairaland.com/3649241/how-naira-went-n525-1#54035035 It's about PMB, PYO!!!! |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by Nobody: 10:51am On Feb 25, 2017 |
bayelsaowei:Dey there na wen him cum back just no sa naira don die. |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by damoneymag(m): 11:29am On Feb 25, 2017 |
Truth234:you have earned my admiration with the above economic analysis. most peps don't understand hw this things work. they just jump into shallow conclusions 1 Like |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by oteikwu16(m): 11:51am On Feb 25, 2017 |
Since prof became the acting president, the Nigerian Naira has been steadily gaining strength against the USSD. Well we are hoping for better things to come. God bless the prof. |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by Proudlyngwa(m): 11:51am On Feb 25, 2017 |
Incrizz:And how is that flooding 1 Like |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by Incrizz(f): 12:19pm On Feb 25, 2017 |
Proudlyngwa:That's the PMB, PYO thingy I've been trying to tell you about. As for how it's flooding, Aww..'can't help ya with copying and pasting. You will need to re-read the Original Post. If you like |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by Nobody: 12:34pm On Feb 25, 2017 |
kaboninc:thanks to our trial and error government for the instability |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by wyqay: 12:37pm On Feb 25, 2017 |
Nigerians are behind the problem of dollar,if the transaction is well checked Naira will still appreciate the more. Good job the VP |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by kayo80(m): 12:43pm On Feb 25, 2017 |
Truth234: Good bless you for this explanation. 1 Like |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by emmaelectelect(m): 12:58pm On Feb 25, 2017 |
989900: So it means NigerDelta should be treated speacially, since we all seem to agree that region sustains this marriage!!! 2 Likes |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by emmaelectelect(m): 1:03pm On Feb 25, 2017 |
xpiranza: well said SS/SE sustains this marriage somehow! that region should be treated with some respect 2 Likes |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by Proudlyngwa(m): 1:56pm On Feb 25, 2017 |
Incrizz:Read and reread E be like say sun no hot reach for your side This one wey u dey give me work 1 Like |
Re: Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ by stonemind(f): 2:11pm On Feb 25, 2017 |
how much is it now? |
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