Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,159,125 members, 7,838,863 topics. Date: Friday, 24 May 2024 at 10:31 AM

Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association (56361 Views)

41 Items Still Banned Under Nigeria-china Currency Swap Deal / What Happened To Nigeria China Currency Swap Deal? / Nigeria – China Currency Deal – The Biggest Winners And Losers (2) (3) (4)

(1) (2) (3) (4) (5) (6) (Reply) (Go Down)

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by kennydee05(m): 6:09pm On Apr 17, 2016
Simple Secondary School economics will explain th logic behind the fall in dollar but for the of wailers let me explain in simple economics term :
1. The higher the demand the higher th price
2. The lower the demand, the lower the price.
* * * * all things being equal.

2 Likes

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Nobody: 6:11pm On Apr 17, 2016
Heffalump:
Association of Wailers will hear this and suddenly develop Heart attack!

#IstandwithBuhari

Wailers can go to jail!! undecided
Employ ur God-given brain! Leave sentiments for low-class animals. undecided

1 Like

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by olaodun: 6:11pm On Apr 17, 2016
Solar Light and solar charger for any type of phone for all students pls contact ecstasytreasuresltd@gmail.com
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by diegwu01: 6:11pm On Apr 17, 2016
Pidggin:
Show evidence instead of posting false information grin

Buhari just came back yesterday and dollar is already down even when no evidence of the China deal is on ground? Smh
You should remember how the Naira Strengthened when Ifeanyi Uba only made a pronouncement

1 Like

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by fjjc(m): 6:11pm On Apr 17, 2016
This is a speculative thing, once it takes effect surely Naira will appreciate as against dollar.' LAW OF SUPPLY AND DEMAND"

1 Like

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by millionaireman: 6:12pm On Apr 17, 2016
POLITICAL DECEPTION; PROMISES AND PROMISES. THAT'S WHAT APC HAS NOW ADOPTED TO FOOL NIGERIANS.
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by 4nobody4every1: 6:12pm On Apr 17, 2016
grin grin
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by popcykaylah(m): 6:12pm On Apr 17, 2016
Fayose and his fellow wailers won't like this..

2 Likes

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by AntiWailer: 6:15pm On Apr 17, 2016
ki02020:



You need common sense to understand

That will be hard for him ooo.

where will it get that ?

1 Like

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by repogirl(f): 6:15pm On Apr 17, 2016
The dollar goes down as the Yuan goes up.

Congratulations to China.

1 Like

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Heffalump(m): 6:16pm On Apr 17, 2016
shamsuRana:
SULODO TO OKONJO-IWEALA

"... I hereby challenge your attempt to blame others for not saving for the rainy day. It is not a virtue when you are quick to appropriate all the credit when things are going well, but shift the blame when they go wrong.

You blame the state governors— who, according to you, have taken the Federal Government to the Supreme Court—not that a Supreme Court judgement forced your hands. For your information, the governors have never agreed to savings and always threatened court action even under Obasanjo. Why did we save under Obasanjo but not under Jonathan?.

Two keywords explain it: leadership and integrity. Governor Amaechi said the governors insisted on sharing the funds because they found out that you were illegally fiddling with the savings.
So, as Nigerians still wonder, if billions of dollars are now ‘missing’ under your nose, why should governors trust you to keep their money?. Do the states that have taken the federal government to the Supreme Court and refused to save also include the PDP governors—who are in the majority? If so, then it is fatal: even governors of your own party, PDP, do not trust you to keep their money!.

Furthermore, did the governors also stop the Federal Government from saving part of its share? If you ran a surplus budget at the Federal
level, you would have had credibility to blame others or to say they did not listen to your advice.
The key point is that since you were running huge deficits yourself, it was also in your own interest to share the ECA. You did not show
leadership or credibility, full stop!..."

----Dr. Chukwuma Soludo
(Replying Dr. Okonjo Iweala)

Counties that have left dollar for yen

Soludo, you have nailed it, period. Wailers will not believe what you said, they will rather seek to crucify you. GEJ was the baddest thing that ever happen to Nigeria. It will take more than a decade to reel out of the pain inflicted on Nigeria by this son of a man call Ebele Jonathan, Not Goodluck!!!

6 Likes 1 Share

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by shamsuRana(m): 6:20pm On Apr 17, 2016
Heffalump:


Soludo, you have nailed it, period. Wailers will not believe what you said, they will rather seek to crucify you. GEJ was the baddest thing that ever happen to Nigeria. It will take more than a decade to reel out of the pain inflicted on Nigeria by this son of a man call Ebele Jonathan, Not Goodluck!!!

Well written.. wink
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by AntiWailer: 6:20pm On Apr 17, 2016
popcykaylah:
Fayose and his fellow wailers won't like this..

Amen.

2 Likes 1 Share

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by shamecurls(m): 6:22pm On Apr 17, 2016
masterblogger:
This is a very good move. Though am not from any political party, I support Buhari and Ifeanyi Uba on this.

From what I heard from reliable source, it was IFEANYI UBA (CAPITAL OIL) that single handedly initiated and made sure the idea was implemented by Buhari. He said he was ready to risk his investment if the idea did not work.

I think he should appoint Ifeanyi Uba as one of his special adviser especially on economic issues thats if he will accept it. He did brilliantly with the advise.

Let's all give kudos to him.

Click like if u agree and share if you disagree



Lie

1 Like

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by creativity4real: 6:28pm On Apr 17, 2016
modath:


Bros, but the yuan to naira regime hasn't even commenced yet, so effects shouldn't be felt yet...

Are you with me? Is trade not supposed to be in full force before big drops begin to happen?

Which if one can take a wild guess points to specularion manipulation, & Sabotage..

The crash from 390 to its 320 band convinced me that even in the throes of forex scarcity, sharp practices abound..

Naija for show!!! cool
The imminent implimentation and possible adverse effect on the USD plus speculation might be responsible for the sudden drop i guess!
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by solid3(m): 6:29pm On Apr 17, 2016
This N10 appreciation is a fraud by BDC operators. There should be more gain than that.
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by saintaustine(m): 6:29pm On Apr 17, 2016
Proud of Nigeria
Proud of my president.
Proud of the current change in my country.
For i know, that suffering may endure for the night but JOY comet in the morning.
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by TheGoodJoe(m): 6:30pm On Apr 17, 2016
modath:


Bros, but the yuan to naira regime hasn't even commenced yet, so effects shouldn't be felt yet...

Naija for show!!! cool

If you are familiar with currency trading, you will know that the announcement of a big news can have an immediate effect on currency price.

3 Likes

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by MENTORCH(m): 6:30pm On Apr 17, 2016
ChoCandyDiamond:
This wont work, it will surely backfire because Yuan is not a stable currency like dollar, some people will get their fingers burnt at the end of the day, even China have the biggest dollar reserve in world with US

I think it will work because 60percent of the people who always need dollar are the importers; they import most of their goods from China,so what will they be doing with dollar when they can change to Yaun directly.
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Nobody: 6:34pm On Apr 17, 2016
This is what I call classic move, Americans been living large on the rest of the world for sometime now, this ought to stop.

God punish middle man.

1 Like

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by wexyee: 6:35pm On Apr 17, 2016
modath:


Bros, but the yuan to naira regime hasn't even commenced yet, so effects shouldn't be felt yet...

Are you with me? Is trade not supposed to be in full force before big drops begin to happen?

Which if one can take a wild guess points to specularion manipulation, & Sabotage..

The crash from 390 to its 320 band convinced me that even in the throes of forex scarcity, sharp practices abound..

Naija for show!!! cool
yes u re ryt .. But it make the traders to stop changiNg the dollar at least, and that brings abt the appriaciation of naira
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by banmee(m): 6:38pm On Apr 17, 2016
SamuelAnyawu:
Might be true tho..

If demand for dollar decreases surely naira will appreciate...

Simple Econs101

for it to mean anything, what is the exchange rate of the the dollar to the yuen?
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Maski87: 6:38pm On Apr 17, 2016
Good when next you travel to dubai or Europe carry your yuan or rehimbi and see who will take it from you the only people who will benefit are onitsha traders you will still use nigeria money to support Chinese business

2 Likes

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by modath(f): 6:38pm On Apr 17, 2016
TheGoodJoe:


If you are familiar with currency trading, you will know that the announcement of a big news can have an immediate effect on currency price.

I know nah, na today... wink

Just reiterating that the BM rate that some "experts" have been using as point of ref when calling for devaluation is not devoid of myriads of speculative & sharp practices...

Probably, if we didn't have billions in septic tanks & bedroom safes, maybe it would have been at 220-250 band? My 2k.

2 Likes

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by free2blast(m): 6:40pm On Apr 17, 2016
masterblogger:
This is a very good move. Though am not from any political party, I support Buhari and Ifeanyi Uba on this.

From what I heard from reliable source, it was IFEANYI UBA (CAPITAL OIL) that single handedly initiated and made sure the idea was implemented by Buhari. He said he was ready to risk his investment if the idea did not work.

I think he should appoint Ifeanyi Uba as one of his special adviser especially on economic issues thats if he will accept it. He did brilliantly with the advise.

Let's all give kudos to him.

Click like if u agree and share if you disagree
Lol....carry your Ubangidi comot here jare. Who Uba don epp? Trying to claim credit where there is none.

1 Like

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by lumeneng22: 6:41pm On Apr 17, 2016
Alli express here I come.
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by mumbasa: 6:42pm On Apr 17, 2016
If it is swap deal fine but i heard that it was Loan plea.

If it was a loan then people who believe everything from APC should sit and think.


Only a fool will go to China to negotiate terms and conditions to borrow $2billion when:
1) We are expecting $200billion from looted money starched away in Dubai.
2) America is helping us repatriate $6billion kept by former PDP Governor's and ministers in the USA.
3) Loads of thieves under Jonathan have returned millions of dollars.
4) Trillions of Naira raked in by the Nigeria custom service.
5) Millions of Dollars saved by the TSA and all leakages blocked.

Even if you are very dumb, you must ask questions of this government.

Let's pray it is not loan negotiations cos d truth neva come awt finish.

1 Like

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by Jlow2: 6:43pm On Apr 17, 2016
i pray my igbo brothers can at least say thank u 2 buhari for dis great move which dey wld be the most beneficiary.

1 Like

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by StarMogul(m): 6:44pm On Apr 17, 2016
Will this solve our problem,we as a nation are trying to be more of an exporting based economy nd less of an importing one.This will only give room for less pressure on d dollar nd more pressure on the yuan....Becus we still import....Simple economics.We still don't hv a budget hw will d loan given by China be appropriated and accounted for if not through a well detailed budget...I don't trust dat money will be effectively utilized,soon we will hear stories dat touch...
BOOSIT MEHNNN undecided

2 Likes 1 Share

Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by masterblogger(m): 6:45pm On Apr 17, 2016
free2blast:
Lol....carry your Ubangidi comot here jare. Who Uba don epp? Trying to claim credit where there is none.

Uba don give scholarship to soo many people, built low cost houses for the masses, created thousands of jobs, build churches, hospitals, health care units, schools etc.
Who APC as a whole done epp?
Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by PurpleHouse(m): 6:48pm On Apr 17, 2016
It's a big scam for Dollar to be selling above 250 in the parallel market and even innmost Banks... A big Scam!

2 Likes

(1) (2) (3) (4) (5) (6) (Reply)

Picture Of New Naira Note :A Nairalander Withdraw This Morning At The Atm / 15 Lucrative Business Ideas That Will Take Center Stage In 2017 / Businessman Recovers Some Gas Cookers Looted From His Warehouse (Video)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 44
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.