Mindfulness:


I think you are confusing depreciation and devaluation.

Depreciation
the currency is determined by the demand and supply and the central bank (or the president) doesn't intervene in it.

Devaluation
central bank decides what should be the value of its currency compared to other countries. The Central bank intervenes by buying or selling government securities to keep its exchange rates (relatively) fixed.

989900:


Pedantic.

Mindfulness:


Whether a currency is artificially determined by the government / the central bank or not is pedantic?
Small difference, right?

And you want to discuss macroeconomics and monetary policies. SMH.

989900:


[i]In the scope of this discussion, it is.

Our exchange rate has always been more or less determined by the CBN.

Mindfulness:


We are talking about monetary politics and policies and you want to ignore the HUGE difference between depreciation and devaluation and you call the HUGE difference pedantic? Nonsense!



So?

989900:


So, it's as dumb as saying the sky is blue, but well 'greyish' at times when it is kinda cloudy. #obvious

So the difference between depreciation and devaluation is as slight as the difference between the words "greyish" and "cloudy"?

You are hopeless.

Now, count back 1,2,3 to 10 (your last comments), all you've done so far is perambulating without saying anything of substance (practical) in relation to the subject matter.

1,2, 3 means in your logic counting back?

More like 'air'.

My questions to you are:

Why do we need to devalue the Naira?

And to what value?

What factors are responsible for the 'falling Naira'?

Answer those without heading in a tangent, and I'll take you serious.

Mindfulness:


So the difference between depreciation and devaluation is as slight as the difference between the words "greyish" and "cloudy"?

You are hopeless.



1,2, 3 means in your logic counting back?



Why explain anything to anyone with an IQ below average? I mean it!

989900:


I guessed as much --- you're nothing but 'air' -- an empty cranium.

I suspected this from the 'get-go', just wanted to be sure . . . glad you didn't disappoint.

It's a shame though, '[size=18pt]cause I would have loved a more robust/intelligent exchange. [/size]

I guess you can't give what you don't have.

Mindfulness:


[s]I would have loved it too IF you were able / willing to learn and understand instead of arguing blindly instead of arguing like a plumber who thinks that he can explain to a doctor how surgeries on a open heart are performed.

Do your homework and get thorough understanding of the difference between devaluation and depreciation and then come back showing more respect to someone who has profoundly researched and OBJECTIVELY analyzed the issue, THEN we can talk.

Thank you.[/s]

989900:


The Naira was N0.65 to $1 in 1985.

It was N155 to $1 in 2014.

199 to $1 in 2016.

That's some lot of devaluation over time, how come it has not fostered your proposed benefits?

If 'devaluation is not the answer to the all problems', why are you pushing for taking paracetamol as a curative for cancer -- treating symptoms in lieu of 'causes'?

gists:
The truth is most of them just want PMB to devalue the naira so they can turn around and blame him for ruining the currency.
I am yet to see any of them telling us what we stand to gain by devaluing the naira with this our present scenario. They just want to say GEJ left the dollar for PMB at N199 and now PMB has killed it at NXXX. As if that will bring GEJ back

gists:

The truth is most of them just want PMB to devalue the naira so they can turn around and blame him for ruining the currency.
I am yet to see any of them telling us what we stand to gain by devaluing the naira with this our present scenario. They just want to say GEJ left the dollar for PMB at N199 and now PMB has killed it at NXXX. As if that will bring GEJ back tongue