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Stats: 2,738,518 members, 6,493,220 topics. Date: Friday, 17 September 2021 at 05:55 AM
|Decreasing External Reserve And Exchange Rate by doofanc: 2:03pm On Nov 29, 2014|
we are told the reason the external reserve is decreasing is because the CBN uses it to create artificial demand for naira.
what I'm yet to understand is who buys the dollars from CBN? and when did this practice start, after all there was a time, I believe, that our currency was higher than the dollar.
secondly why do we need to keep the naira rate high in the first place?
|Re: Decreasing External Reserve And Exchange Rate by podosci(m): 2:46pm On Nov 29, 2014|
doofanc:Booked a seat.....also waiting for some1 to explain
|Re: Decreasing External Reserve And Exchange Rate by doofanc: 7:06pm On Nov 29, 2014|
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