Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,156,125 members, 7,829,004 topics. Date: Wednesday, 15 May 2024 at 05:20 PM |
Nairaland Forum / Nairaland / General / Politics / Pmb, The Economist! (442 Views)
PMB The Only President That Can Whip People With Koboko & They Will Smile- Sani / Why Nobody Knows The Population Of Nigeria - The Economist / From ‘poorly Qualified’, The Economist Says Adeosun Is A ‘tenacious’ Minister (2) (3) (4)
(1) (Reply)
Pmb, The Economist! by eazy07(m): 8:48am On Apr 17, 2016 |
PMB, THE ECONOMIST! PMB has done it again. The school cert holder (?) has done what a PhD holder could not. Very simple economics. We buy most of our goods from China, so why must we pay the Chinese in dollars? The Chinese buy a lot of crude oil from us, so why must they pay us in dollars? So PMB made a deal with the Chinese. We pay for the goods we buy from China in Yuan, the Chinese currency. They buy our crude oil and pay in Yuan. The exchange rate is to be pegged at 30 Naira to one Yuan or RMB. So how does it favour us? Simple. The Yuan is now 6.48 to a dollar. So if you pay 30 Naira to the Yuan, that would be equivalent to 194.4 Naira to the dollar. Since the dollar exchanges for 199 Naira, you save N4.6. 199 - 194.4 = 4.6. Simple, huh? In simple terms, PMB has just strengthened the Naira by 9.15%! And that's not the end of the story. As we begin to deal in the Yuan, the demand for dollar would plummet and this in turn would weaken the dollar. It would crash to around 140 Naira to the dollar. May God bless PMB. Can I hear an amen?! 1 Like 1 Share |
Re: Pmb, The Economist! by Mrfahaz(m): 9:13am On Apr 17, 2016 |
amen.....even though this will kill some tout... |
(1) (Reply)
Is It Constitutionally Possible To Abolish The Nigerian Senate? / Current Economic Crises Also Affected Nairaland Ads Placement / Bailout Funds Not Diverted In Benue State
(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. 8 |