Naira Crashes To N285/$1 At Interbank Market - Business (3)

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Naira Crashes To N285/$1 At Interbank Market - Business (3) - Nairaland

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Re: Naira Crashes To N285/$1 At Interbank Market by perp(f): 4:57pm On May 31, 2016

Pyno30:
Where you trying to type English?

fault finder, the correct word is * were* and not where

6 Likes

Re: Naira Crashes To N285/$1 At Interbank Market by Onlymewakacum(m): 5:04pm On May 31, 2016

amtaken:
I wonder why APC didn't adopt this sentence during the election.

I wonder too oO

Re: Naira Crashes To N285/$1 At Interbank Market by Onlymewakacum(m): 5:06pm On May 31, 2016

erico2k2:

By then it might be N1000

Or it might not

Re: Naira Crashes To N285/$1 At Interbank Market by sambisa5: 5:26pm On May 31, 2016

vizkiz:
I don't think there is gonna be any "change" in the next 4years... Let's just face the truth. Nigeria is in deep shiit!!!

i thought, i thought that alone

Re: Naira Crashes To N285/$1 At Interbank Market by proprince(m): 5:36pm On May 31, 2016

Clueless APC

Re: Naira Crashes To N285/$1 At Interbank Market by Pyno30: 5:50pm On May 31, 2016

perp:

fault finder, the correct word is * were* and not where

Cut that Finger and give to me.

Re: Naira Crashes To N285/$1 At Interbank Market by judondasylva(m): 6:23pm On May 31, 2016

this is just the beginning. what do u expect when a dullard is your President?

Re: Naira Crashes To N285/$1 At Interbank Market by Peterwins(m): 6:29pm On May 31, 2016

However, a look on the apex bank official website, www.cbn.gov.ng has shown the naira is still pegged at N197.

Which rate will the FG use to implement the budget and share its Fx revenue to all the three tiers of government? N197, N285, N?.

The various States and local governments must ensure that the allocation given to them is based on N285 or the average floating rate. Anything short of this means that they are being short-changed by the FG.

If the FGN still insists on maintaining the official Fx rate at N197/N199 to the dollar then I suggest they create ''An Excess FX Account" accruable to the Consolidated Revenue Account.

However creating ''multiple official Fx rates" is never the solution.

1 Like

Re: Naira Crashes To N285/$1 At Interbank Market by erico2k2(m): 6:34pm On May 31, 2016

perp:

fault finder, the correct word is * were* and not where

Ahaha typical u catch a mm ITK people grin

Re: Naira Crashes To N285/$1 At Interbank Market by Peterwins(m): 6:54pm On May 31, 2016

In summary, the MPC voted to:
(i)Retain the MPR at 12.00 per cent;
(ii) Retain the CRR at 22.50 per cent;
(iii) Retain the Liquidity Ratio at 30.00 per cent; and
(iv) Retain the Asymmetric Window at +200 and -500 basis points
around the MPR
13
(v) Introduce greater flexibility in the inter-bank foreign exchange
market structure and to retain a small window for critical
transactions.

Thank you for listening.

Godwin I. Emefiele
Governor, Central Bank of Nigeria
24th May 2016

Source: https://www.cbn.gov.ng/

The CBN should let us know the items that are still considered as critical transactions. Transparency is required. Who and which organisations/transactions are the beneficiaries of these (N199/$) so called critical transactions.

Re: Naira Crashes To N285/$1 At Interbank Market by vigasimple(m): 7:04pm On May 31, 2016

EbukaLive:
It MUST get WORSE before it can get BETTER. If it doesn't get WORSE it cannot get BETTER. Nigerians should be patient with my President...

Well, that is your opinion and it sounded like that of a Zombie.

If Buhari has direction, the pain could be temporary. But from the evidence of the last 15 months, even majority of Zombies know that the country is on a wing and prayers

You should stop pretending that there is no fire on the mountain.

1 Like

Re: Naira Crashes To N285/$1 At Interbank Market by Chukzyfcb(m): 7:11pm On May 31, 2016

Everyone here is because talking about personal effect, nobody is looking at the bigger picture.
The negative effect it may have on banks, or airlines?

I fear for certain banks because these set of bank gave out loans to IOCs in foreign currency. If the loans default further like its been doing in previous months, it means higher loan losses o! Which will impact negatively on their financial standing.....well, If they (IOC) pay back = more money for the banks. But who dey wan payback kwanu?

Airlines "nko"? Some airlines in naija will be in deep deep shit. To convert the sold flight tickets back to foreign currency at the current rate means a huge loss o!
....E.g: Arik air sold ticket lag-london 200,000naira, Arik air was expecting to change it to dollars & get $1015 ($1=197) but with this news it mean arik air will get
$701 ($1 = 285)............about $300 loss!!! DAMN

Re: Naira Crashes To N285/$1 At Interbank Market by coldFLARES1(m): 8:36pm On May 31, 2016

VocalWalls:
Deceit
Why didn't it crash lower than that exact amount?
Looking for a reason to murder the naira at 285/Dollar.
These people don't even know how to lie... Shet mehn...
The same 285 customs chose to use... Same 285 oil marketers chose to use.
Check This Out

I'm not having an IQ of 300, but I'm no fool.

Re: Naira Crashes To N285/$1 At Interbank Market by coldFLARES1(m): 8:38pm On May 31, 2016

VocalWalls:
Deceit

Why didn't it crash lower than that exact amount?

Looking for a reason to murder the naira at 285/Dollar.

These people don't even know how to lie... Shet mehn...

The same 285 customs chose to use... Same 285 oil marketers chose to use.

Check This Out

I'm not having an IQ of 300, but I'm no fool.

Obviously, "flesh and blood didn't reveal this to you."

1 Like

Re: Naira Crashes To N285/$1 At Interbank Market by EbukaLive(m): 8:47pm On May 31, 2016

vigasimple:

Well, that is your opinion and it sounded like that of a Zombie.

If Buhari has direction, the pain could be temporary. But from the evidence of the last 15 months, even majority of Zombies know that the country is on a wing and prayers

You should stop pretending that there is no fire on the mountain.

Zombie. IPAD. etc. All those tags don't move me. If you can read properly. You will see where I wrote WORSE twice, I even placed it in caps. There is serious fire on the mountain and the only man that I think can quench it is Buhari.

Re: Naira Crashes To N285/$1 At Interbank Market by coldFLARES1(m): 8:49pm On May 31, 2016

[quote author=Peterwins post=46149097

The CBN should let us know the items that are still considered as critical transactions. Transparency is required. Who and which organisations/transactions are the beneficiaries of these (N199/$) so called critical transactions.

[/quote] Buhari's estacodes sure is one of such. I have never been wrong in making such guesses.

Just that they won't disclose it for confirmation.

Re: Naira Crashes To N285/$1 At Interbank Market by piagetskinner(m): 9:40pm On May 31, 2016

Is there anything that hasn't crashed in this regime. ?

1 Like

Re: Naira Crashes To N285/$1 At Interbank Market by MrRichy(m): 9:53pm On May 31, 2016

i don't have anything to say...
I weep for the Nation.
Pls God in heaven forgive us if its our sins that brought this whole problem on us.
on behalf of myself and I, i donate PMB and his ministers as burnt offerings to you.

Re: Naira Crashes To N285/$1 At Interbank Market by ancientbanana: 6:17am On Jun 01, 2016

EbukaLive:
It MUST get WORSE before it can get BETTER. If it doesn't get WORSE it cannot get BETTER. Nigerians should be patient with my President...

those waiting for it to get better in this dispensation is on a long thing. This situation actually favour those who deal on dollar, that is the abokis.

Re: Naira Crashes To N285/$1 At Interbank Market by ancientbanana: 6:19am On Jun 01, 2016

buzquet:
Nigeria will be back for real. Everything has it up and down time. Nigeria will be great again

yes it will, Dat is after apc govt has been kicked out. Because pmb is lik a dry well.

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