this is serious

stagger:

The reason why the exchange rate did not drop to N200 in 2009 was because the CBN began to intervene to prop up the Naira at N150.

All it takes is for the CBN governor to wake up one morning and declare that the Federal Govt can no longer keep depleting foreign reserves to support the currency, and that they want an "appropriate value" for the Naira. Then you will see a free fall to the true value of the Naira based on the state of our economy.

It is true but in any place in the world the central bank is supposed to intervene preventing the local current either from over depreciation or even appreciation (as in Japan) there must be limits to protect the interest of the masses. I feel that Dr, Iweala is in favour of this strategy, actually I pray so

^^^
Hopefully I hope it will with this our messed up consumer economy

^^^
Lol

RMB into Africa will become the reserve currency in Nigeria


RMB internationalization process has progressed to the second-largest economy in Africa - Nigeria announced that its foreign exchange reserves of 5% -10% for the yuan.

Nigerian central bank governor 拉米多萨努西 (Lamido Sanusi) 6 in Beijing, said the country will diversify currency reserves, the reserves of 5% -10% for the yuan. Nigeria into

Led to announce the yuan into foreign exchange reserves of African countries.

拉米多萨努西 pointed out that China in terms of trade or commodity transactions account for a large share, but the important position of trade are not reflected in the currency, the yuan has never been an international trading currency or transaction currency.

Situation in the past year has changed.拉米多萨努西 feel that China's central bank has gradually abolished restrictions on the use of RMB, the yuan can now more easily convertible for trade settlement or investment.

拉米多萨努西 said that China's huge foreign exchange reserves, the world's second largest economy, but also has economic development potential. He believes that the internationalization of the RMB will continue to advance and reserve-based.

拉米多萨努西 that the yuan as part of the foreign reserves is a strategic decision, but also deal with the U.S. sovereign rating was downgraded, in Europe as a means of deep debt crisis. "In Europe the case of economic uncertainty, we see a lot of countries have begun to consider the use of RMB as a reserve currency, but as far as we know, many countries have started contacts with China's central bank, including some Asian, Latin American countries. "

It is reported that Nigeria has 320-360 billion U.S. dollars foreign exchange reserves, of which 79% are U.S. dollars, while the euro, British pound, there is a small part of the gold. The reserves of Nigeria consider the 5% -10% for the yuan.

In general, the Government should consider the currency of foreign exchange reserves mainly consider varieties of mobility, security, must also give due consideration to the rate of return.拉米多萨努西 that Chinese inter-bank bond market in the short-term rate of return of not less than U.S. bonds.

How to get the technical aspects of the RMB, 拉米多萨努西 expressed the following ways: First, China's central bank to apply for central Nigeria, the direct purchase of Chinese inter-bank bond market, bond; two offshore market in Hong Kong for the RMB; three by oil exports to China, the Nigerian government can accept RMB.

Statistics show that Nigeria is Africa's second largest economy in the past ten years has maintained an average annual economic growth of 7%. Last year, China exported to the country about $ 1 billion of oil, China's merchandise exports to the country mainly in the manufacturing, infrastructure-based, export volume last year reached 70 billion U.S. dollars.
(Source: Shanghai Securities News)

Times without number we might have found ourselves at difficult financial positions which could be eerily frustrating and embarrassing to some extent.
Brilliant business ideas, unprecedented market opportunities that even a blink will see whisked away, untimely SOS calls such as school fees for your kids,their monthly pocket money,or emergency cash calls from relatives. Unbelievable market offers at cash strapped periods especially when pay day is still a couple of weeks out is always frustrating and mostly negates growth. Securing loan from friends, neighbours or colleagues could often lead to disappointment and turning towards banks that would demand all sorts of collateral and documentation to secure a paltry loan could leave you drained and more still,opportunity lost.
Neocash finance enterprise is an emergency fund rescue option proffered to help manage and salvage the above mentioned situations and many more with uniform minimal interest rate on loans. For more info,call 07044891654

yahla:

Times without number we might have found ourselves at difficult financial positions which could be eerily frustrating and embarrassing to some extent.
Brilliant business ideas, unprecedented market opportunities that even a blink will see whisked away, untimely SOS calls such as school fees for your kids,their monthly pocket money,or emergency cash calls from relatives. Unbelievable market offers at cash strapped periods especially when pay day is still a couple of weeks out is always frustrating and mostly negates growth. Securing loan from friends, neighbours or colleagues could often lead to disappointment and turning towards banks that would demand all sorts of collateral and documentation to secure a paltry loan could leave you drained and more still,opportunity lost.
Neocash finance enterprise is an emergency fund rescue option proffered to help manage and salvage the above mentioned situations and many more with uniform minimal interest rate on loans. For more info,call 07044891654

dollar of to day rate is about 150 to 153.

brymon007:

dollar of to day rate is about 150 to 153.

Where was that?! in your dreams or No-whereland

The rate was N159 to $1 at wuse zone4 abuja as at yesterday.

brymon007:

dollar of to day rate is about 150 to 153.

I don't know why some people just wake up and talk plenty of rubbish here. Many guys use the rate for business, so if you do not have information about the exchange rate, take your itchy fingers to another thread and type your gooey. Mschew!

mama bought for 158 today in delta state

One can't really say exactly the exchange of dollar to naira due to it incisant fluctuation.

The rate today was 158 - 158.5 N. I got it 158.3, hope my Mallam didnt cheat me 

Fhemmmy:

Seems like the rate is having fun around 158 and 159 Naira . . . .Hope it will go down further.

For me I am contented of what we have now, coming down from 167 N, is ok for me and I wouldnt dream of hard catchings, just let them stablize it for a while

What is the rate for pounds - GBP

benin-man:

What is the rate for pounds - GBP

256 - 258 sell and buy rate, sabo, yaba, Lagos yesterday.

where do you exchange us dollars for niara

Anyone know the rate for selling USD in Abuja

My manager bought USD @ N158 today - Lagos,