Your small business can be moved forward by learning tips on http://www.lekkibusinessjournal.com/be-innovative/

naijaguy123456:
[Part copied]
What makes a currency strong ?

1. Interest rates. High interest rates help promote a strong currency, because foreign investors can get a higher return by investing in that country.

2. Economic policies. Tight fiscal discipline and anti-inflationary monetary policies help promote a strong currency.

3. Stability. A strong government with a well-established rule of law and a history of constructive economic policies are the type of things that attract investment and thus promote a strong currency.

4.Reduce inflation. If inflation is relatively lower than competitors, then the countries goods will become more attractive and demand will rise.

Chinas plan is to rule the world and Nigeria is helping them achieving this. When China sell goods and services to you, you pay them in dollars, it doesn't help Chinese economy as they have to take the dollars to the Americans in exchange for gold for example, but with this move they boycott the Americans.

So would you say it is better for the buyer (Nigeria) and the seller (China) to keep depending on a third party/middleman's currency (American Dollar) when they can trade directly in their respective currencies?

lastempero:
Long process, everything in Nigeria is Complicated.I thought this was targeted at business men. which businessman will have time for this kind of beaucracy.

Nigeria is running a wayo govt.

leading the world has been based on ideas - America c.

FriendNG:
Not well explained. Where is the role of commercial banks?

They are the authorized dealers.

ZUBY77:


Rmb is not 57.

How much is it?

they have sense. now that yuan is falling, at an all time low. in their trade war with the usa. i was speculating on the currency but i had to sell it yesterday. china is manipulating their currency to make exports stable

flyca:
I just exchanged at 57, so kini big deal
This government wayo! Always telling lies

Contact me for rates BTW 54-55 depending on volume. You pay naira on confirmation of receipt of RMB usually not more than 30 minutes.

franzis:
its between 58- 60 Naira

Contact for rates BTW 54-55 depending on volume. 2m RMB daily trading available. Friendly naira payment pattern.

flyca:

How much is it?

Rates change everyday now. So maybe you can add me on whatsapp if you buy rmb regularly.
+8613544479311

naijaguy123456:
[Part copied]
What makes a currency strong ?

1. Interest rates. High interest rates help promote a strong currency, because foreign investors can get a higher return by investing in that country.

2. Economic policies. Tight fiscal discipline and anti-inflationary monetary policies help promote a strong currency.

3. Stability. A strong government with a well-established rule of law and a history of constructive economic policies are the type of things that attract investment and thus promote a strong currency.

4.Reduce inflation. If inflation is relatively lower than competitors, then the countries goods will become more attractive and demand will rise.

Chinas plan is to rule the world and Nigeria is helping them achieving this. When China sell goods and services to you, you pay them in dollars, it doesn't help Chinese economy as they have to take the dollars to the Americans in exchange for gold for example, but with this move they boycott the Americans.

High interest rates does not promote a strong currency. And certainly does not encourage real investment in an economy. The top economies in the world with strong currencies manage less than 5% interest. While the economies with weak currency manage double digits. And the reason is simple. Real investors don't play in the money market.


Therefore, high interest rates sends a bad signal to real investors because if they are to borrow funds along the line in other to support their investments in an economy it's going to impact on their investments negatively.

omenziate:


How does high interest rate stimulate growth or make your currency strong ?As a manufacturer , I want interest rate on my borrowings to be low . While high deposit rates which is what you mean is okay for an investor which he sees as high return on equity , it is a lazy man’s way of making which doesn’t stimulate growth in anyway. I would rather just plunge my money in TBills or Time deposit doesn’t really add value to the economy by creating jobs or anything .

If I am not mistaken ,taxation and government spending ,when the government spends less and taxes More which is tight , how does that strengthen the Naira??

Mayb I am missing something ??

Thank you for this response. Real investors don't play in the money market. High interest rates drive away investors.

ZUBY77:


Rates change everyday now. So maybe you can add me on whatsapp if you buy rmb regularly.
+8613544479311

Oh, it was all for advert afterall?
Weh done sa!

RMB is 56-57 currently. If you are changing from Naira.

flyca:

Oh, it was all for advert afterall?
Weh done sa!

RMB is 56-57 currently. If you are changing from Naira.

The way some of you see things baffles me.
Advert for what?
Rmb is currently 54 and going down fast too.
Maybe I should come here to give you new rate everyday.