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Nairaland Forum / Nairaland / General / Business / Central Bank Injects $210 Million Into Currency Market (10207 Views)
Why The Traders Are Looking Into Currency Pairs That Rapidly Change Prices? / ➜ ➜ ➜Currency/E-currency Market Deals 2020 ➜ ➜ ➜ / Naira Climbs To N360.55/$ As CBN Injects $210 Million (2) (3) (4)
Re: Central Bank Injects $210 Million Into Currency Market by debolayinka(m): 12:23pm On Feb 13, 2018 |
Bluffly:As much as I support local production, I love to admit that it is impossible in a short time, and will probably remain low even in the the long run. This is because the use of foreign products in Nigeria is not because there are no Nigerian counterparts, it's just an inferior mentality that foreign are better. The government itself has not been helping matters. It's about making policies only, it's by leading by example. We have Innoson motors, how many top government officials has purchased one of them? We have local rice in some states, I can bet some of their governors have never tasted them. All these will not encourage local production. On the exchange rate issue, if we're to produce locally now, we'll either have to import some of the necessary inputs or process some of the outside the shores of the country. Due to the high exchange rate, at the end of production the prices of the products are almost equal with ones imported. I can bet even you will purchase the imported ones in this case. I met a guy last week who was advertising bow ties he made to me for N700. The imported one of the same quality costs about N1,300 with cufflings, and this small suit napkin. Which do you think I'll go for? In a nutshell, you have spoken the truth, but the exchange rate matters a lot to a developing country. |
Re: Central Bank Injects $210 Million Into Currency Market by Bluffly: 12:42pm On Feb 13, 2018 |
debolayinka:Our perception and refusal to be world class through works is a major challenge as well. Nigerians sill have issues with some foreign products because they are not sure of the quality. I want to believe that if it works for the foreign countries it will for us too, if we take absolutely safety measures in what we do. I'm sure that innoson motors has no Research & development and even if they have its just an office. Without showcasing of works and testing no one we believe a product and their will be no faith |
Re: Central Bank Injects $210 Million Into Currency Market by Proudlyngwa(m): 1:29pm On Feb 13, 2018 |
tetralogyfallot: It is not the responsibility of the government to build refineries, running a refinery is a buisness, while we have state owned businesses,it should be in the hands of administrators. |
Re: Central Bank Injects $210 Million Into Currency Market by Ogaonos: 1:41pm On Feb 13, 2018 |
efesodje:bro is it possible 4 naira 2 b peg wit let say singapore or uae dt their currency is strong 2 a dollar or euro.so dt nigeria can start cheap import dt we can re export 2 w.africa |
Re: Central Bank Injects $210 Million Into Currency Market by Mayolad(m): 9:45am On Aug 10, 2018 |
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Re: Central Bank Injects $210 Million Into Currency Market by Embito(m): 7:09am On Jul 31, 2019 |
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Re: Central Bank Injects $210 Million Into Currency Market by damdam995(m): 4:12pm On Aug 09, 2019 |
It's not a good one |
Re: Central Bank Injects $210 Million Into Currency Market by dvkot(m): 8:45am On Oct 31, 2019 |
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Re: Central Bank Injects $210 Million Into Currency Market by chibuzormichael(m): 1:05pm On Dec 08, 2019 |
I hope this will contribute in the growth of the economy |
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Re: Central Bank Injects $210 Million Into Currency Market by NaijaCuzin: 5:38pm On Sep 05, 2022 |
Tinubu And Dangote : Who Has More Money? / COVID-19: Wike Reopens Markets In Rivers State / Naira Trades 1,498/$ At Official Market, CBN Tackles Racketeers
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