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Nairaland Forum / Nairaland / General / Business / CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" (41279 Views)
CBN Introduces BVN Lite For Minimal Financial Transactions / CBN Introduces New FX Rate For Bdcs / CBN Introduces New Charges On Bank Deposits And Withdrawals (2) (3) (4)
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Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Fourwinds: 6:16pm On Mar 27, 2017 |
erico2k2:don't tell me d world of Economics taught u by evil ones....who has increased d workers salaries to meet up with d change in price.? I repeat dat is d wickedness....Business men and women give a wide margin for their price increase....it is a known fact in Nigeria....just like increase in transportation last December when fuel price remain same 1 Like |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Koolking(m): 6:19pm On Mar 27, 2017 |
erico2k2: You mean the commonest things as groundnut, garri made in Ijebu, bush meats and some other stable foods produced locally have everything to do with forex? My brother, Nigerians are incurably greedy and would stop at nothing to take advantage of you at any given opportunity. Even if Naira to a Dollar today is 100, prices of things will never drop. An average Nigeria is enjoying the untold profits he's generating at the current situation of things. It's a modern Nigerian factor. God will help us. Transporters in Lagos will increase fare by 200% because of downpour and make untold profits for nothing. It's simply wickedness and greed |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by erico2k2(m): 6:21pm On Mar 27, 2017 |
Fourwinds:That's the ignorance right there.when the cost of importing brake pads and engine oil went up you xpect road traffic workers to keep a price mute ? Seriously . Is this not a classic example of rise in inflation ? .There is nowhere in the world where wages rise in direct proportion of increase in inflation . . |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Fourwinds: 6:26pm On Mar 27, 2017 |
erico2k2:now dat d dollar is down., I will wait to reply u in fews.....classic example of wickedness in Nigeria |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by erico2k2(m): 6:44pm On Mar 27, 2017 |
Fourwinds:How do you know it's truly down when you are sat here and hasn't made any forex purchase . Go to the banks and buy . Let us see howmuch they sell or if it's realy available at the said price . The you will know them thieves are toiling with the libest of 250m people . They don't givee a craaaaap |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Olamilekan08(m): 6:44pm On Mar 27, 2017 |
AngelicBeing:So after this na for CBN to make it '' trickles down to the cost of living becoming affordable'' before u take them serious Abi? My guy haba! 1 Like |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Fourwinds: 6:50pm On Mar 27, 2017 |
erico2k2:it is down....we know how d $100 million offered by d CBN laid waste last week...only $81 million were taken by d Banks |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by erico2k2(m): 6:54pm On Mar 27, 2017 |
Fourwinds:This is hear say . Where I come from seeing is believing . .I don't trust these guys up there . The guys who control BDC are king makers . They won't give up thier way of life just like that. PS . hope you know the idea of our ATM cards not being used abroad was vomittted by the Banks not the CBN . Question mark is why don't they reverse that ban . Since they claim they have forex in excess . Spot the tricks ? ? |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Fourwinds: 6:57pm On Mar 27, 2017 |
erico2k2:ok...all I know I need to see changes soon. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by ufumes(m): 7:07pm On Mar 27, 2017 |
Pls can someone shed more light on invisibles? Does it include money for importing raw materials for the industry? |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by ufumes(m): 7:10pm On Mar 27, 2017 |
If the invisibles does not target the largest demander of dollars, then the fall in dollar price is going to be short lived. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by erico2k2(m): 7:13pm On Mar 27, 2017 |
ufumes:Services I guess . |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by U1(m): 9:43pm On Mar 27, 2017 |
AngelicBeing: Could you at least try to be reasonable? Now, tell me how the government or CBN is responsible for the persistent high costs of those items you listed? These things are sold by average Nigerians. I hope you aren't expecting the government to force these people to bring down prices if they won't do so on their own. Let's be objective, please. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Emassive(m): 9:47pm On Mar 27, 2017 |
Do you at 1000ngn to 1$ you will call people's reaction "wailing". You need a therapist right away. Bari22: |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by kingxy(m): 9:48pm On Mar 27, 2017 |
nawa o |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by U1(m): 9:54pm On Mar 27, 2017 |
ufumes: Not exactly. The idea is that when demand pressure linked to invisibles is reduced on the black market, more money will be available to other players, including industries. This will also be at cheaper rate. It's simple demand and supply interplay. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Tinyemeka(m): 11:24pm On Mar 27, 2017 |
Bobo419:Oga, do you have any circumstancial evidence to show how Forex approved by CBN to be utilized for the stated invisibles would be diverted to BDC dealers? Can you please explain how they plan to do that? Please visit your nearest bank branch and enquire on the requirements and process flow of Form A applications and approvals. I find it libelous and extremely aggravating when a comment as yours is made in such banket manner. Please explain how a Form A invisible can be diverted to a BDC operator account? I'm curious. Leme learn. 2 Likes 1 Share |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Caseless: 11:26pm On Mar 27, 2017 |
erico2k2:too much dollar effect, my brother. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by erico2k2(m): 11:44pm On Mar 27, 2017 |
Tinyemeka:Has this not been the Norm?? |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Tinyemeka(m): 8:02am On Mar 28, 2017 |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Ugosample(m): 8:42am On Mar 28, 2017 |
bugativeron: Wasn't it immediately dollar went up that those wicked traders jacked up the prices of their goods? Don't defend rogues biko |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by otokx(m): 10:18am On Mar 28, 2017 |
Livebygrace: They will say that the old stock they bought at high dollar has to be exhausted. Government has to create price monitoring boards to force prices of goods and services down. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Bobo419: 11:19am On Mar 28, 2017 |
Tinyemeka: Form A abi. You stay there sir. I'll only give you one answer. The BDCs that are required to show documentary evident of PTAs and BTAs they sold to every week, how do they do it and yet still sell above the approved CNN rate? Maybe you're new in this country sir or just maybe your response has some political undertone. Only you know. What I know is what I've said. And to a large extent, I'm flurry familiar with the subject matter. But if you disagree, all well and good sir. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by SEEDORF441(m): 11:36am On Mar 28, 2017 |
martineverest:10k |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by martineverest(m): 12:14pm On Mar 28, 2017 |
SEEDORF441:lag? |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Hushee(m): 12:22pm On Mar 28, 2017 |
ItsQuinn:I believe we will be great, it might just not be in our lifetime.... I hope I'm wrong tho |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by martineverest(m): 12:25pm On Mar 28, 2017 |
deathwing:palm oil is imported?smh for u |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by SEEDORF441(m): 1:56pm On Mar 28, 2017 |
martineverest:ogun state |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Deeldorado: 3:29am On May 21, 2017 |
Fourwinds: Not defending them but any sensible business man would do that. It's basic street economics. If he sells at a price lower than current market value, where do you think he is going to get the money to restock given that he has to spend more money given that his own cost of purchase has also risen? You can't control that in a system where government fixes the price for petroleum. In a more liberalized and competitive system, the interaction between demand and supply will determine the price of fuel and competition may even ensure that the pump price is lower than what you have under a regulated regime. Next time, try and argue with facts and not curse like a mad man. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Fourwinds: 3:57am On May 21, 2017 |
Deeldorado:i don't think u are okay at all... U must be mad... I will say it any time dat Nigerians are wicked... If there is impending increasing in fuel price, while not sell d oil stock and buy a new one den increase ur price rather dan hoard it and wait for d increase... If u don't see wickedness in dat, i see it as social wickedness on d part of businessmen in Nigeria... When d dollar started falling from #500 to #380, why didnt their price fall immediately? But they can defend that because they bought it when dollar was high but they cannt do same when dollar was lower... Use ur common sense |
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