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Naira Surges As CBN Intervenes In Interbank Market - Business (2) - Nairaland

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Speculators Lose N100m As CBN Pumps Dollars Into Interbank / Naira Finally Improves At The Interbank Rate / Naira Quoted At 253/$ As Interbank Market Opens (2) (3) (4)

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Re: Naira Surges As CBN Intervenes In Interbank Market by SycophanticGoat: 7:05am On Aug 12, 2016
Help! The dollar needs a surge protector!!

Clueless CBN, clueless Buhari! undecided

1 Like

Re: Naira Surges As CBN Intervenes In Interbank Market by TrollTrap: 7:05am On Aug 12, 2016
I dunno jack shít about policies and government and ok that yea, but I do know this government got no policy or strategy at all......heck on a good day I think I could do a better job than them lot angry angry

2 Likes

Re: Naira Surges As CBN Intervenes In Interbank Market by atirolu(m): 7:05am On Aug 12, 2016
chemicalDisease:


you called this goodnews

but were calling Gej names when
it was 214.

Calm down, judgement day is near.


The only judgement for this govt is via our pvc come 2019
Unless they improve if not I ll rather vote corrupt pdp with food on the table
Than incorruptible apc witout food on the table

2 Likes 1 Share

Re: Naira Surges As CBN Intervenes In Interbank Market by abes(m): 7:06am On Aug 12, 2016
onatisi:
there is no magic the cbn can perform if the political leadership of the nation is clueless and empty headed. To be honest the cbn has been trying with all sorts of experiment but what has the nation political leaders been doing? Nothing , and they even keep scaring investors away by their negative comments and dumb policies.

Please, which oil producing country's currency is doing better than the Naira?

1 Like

Re: Naira Surges As CBN Intervenes In Interbank Market by onatisi(m): 7:07am On Aug 12, 2016
9jii:

The worst CBN governor ever.since his coming there from Gej to Buhari things are getting bad at CBN.

1 Like

Re: Naira Surges As CBN Intervenes In Interbank Market by hucienda: 7:09am On Aug 12, 2016
Trial and Error.

Try your luck.

anywhere-belè-face govment


TrollTrap:
I dunno jack shít about policies and government and ok that yea, but I do know this government got no policy or strategy at all......heck on a good day I think I could do a better job than them lot angry angry

cheesy grin cheesy

As in ehn, the government of the day look so confused and disorganised it's obvious to all including fools.
Re: Naira Surges As CBN Intervenes In Interbank Market by slap1(m): 7:09am On Aug 12, 2016
Zombies don't want to rejoice because they know it won't last. At most before 48 hours it will be back to where it was.

3 Likes

Re: Naira Surges As CBN Intervenes In Interbank Market by ChappyChase: 7:11am On Aug 12, 2016
🎯
Re: Naira Surges As CBN Intervenes In Interbank Market by teacherbim(f): 7:11am On Aug 12, 2016
abes:


Please, which oil producing country's currency is doing better than the Naira?
,

Kuwait,Omar,Saudi Arabia,hope no be sey you wan run leave us?
Re: Naira Surges As CBN Intervenes In Interbank Market by biggie73(m): 7:12am On Aug 12, 2016
Surge and appreciate of Naira indeed! Even if $ is #700 on Monday,then one acquire it on Tuesday @ #699, you still tag that surge or whatever.

1 Like

Re: Naira Surges As CBN Intervenes In Interbank Market by teacherbim(f): 7:14am On Aug 12, 2016
slap1:
Zombies don't want to rejoice because they know it won't last. At most before 48 hours it will be back to where it was.

Let be optimistic abeg
Re: Naira Surges As CBN Intervenes In Interbank Market by onatisi(m): 7:15am On Aug 12, 2016
abes:


Please, which oil producing country's currency is doing better than the Naira?
Many countries are doing well even in the face of this oil price crash . Even buhari party members that sponsored his campaign and elections have come out to say that he isn't performing up to expectation,so lets stop all these comparisons of which oil producing country is doing what. Only dumb president will allow 8 solid months of no economic policy or direction in the face of impending recession. The tall dullard was busy junketing all over the world Las year when he should have sat his lean ass down ,appoint a solid economic team and sprung into action action. Rather he was saying that he doesn't know why Nigerians are in a hurry for him to appoint his cabinet. The oil prices didn't fall or crash overnight and repeated warnings were given to Nigeria last year by many economist and economic bodies to brace up for it,but the dull deaf president was busy taking selfies pictures and chasing pdp members instead of doing his job.lets not find any excuse for this government cluelessness because there is none

3 Likes

Re: Naira Surges As CBN Intervenes In Interbank Market by Tinyemeka(m): 7:21am On Aug 12, 2016
chemicalDisease:
And he promised us
1$ = 1N

And we are still counting 314.

God pls help Cassandra and CBN
give them wisdom.

What's the origin of that name Cassandra? smiley

Who is Cassandra? How did the name come about?
Re: Naira Surges As CBN Intervenes In Interbank Market by palsenator(m): 7:21am On Aug 12, 2016
orisa37:
The CBN is surely endeavoring to improve the Naira, but should try harder. The CBN should take a bold Denomination Move to bring down Inter Banks Rates to N100/$1 so that its application of the 1.5 and 2 percent margin would trade Dollar at not more than N135/$1 to the End Users. The CBN can do this and has the power to do it to impress PMB and Nigerians. And thanks for ensuring that, henceforth, all forex imports from Oil, goods and services enter Nigeria only through the Deposit Money Banks(DMBs). That's the spirit.
Few people have got brains on this nairaland and you are one of them. Good analysis
Re: Naira Surges As CBN Intervenes In Interbank Market by alexarelano(m): 7:26am On Aug 12, 2016
I'm not convinced. Even if it's N197 to $1
All d market dat has been bought with huge amount of Naira must be koko sold b4 every price come down. And u see dat naira? It's as volatile as what would I call it undecided
Re: Naira Surges As CBN Intervenes In Interbank Market by abes(m): 7:36am On Aug 12, 2016
onatisi:

Many countries are doing well even in the face of this oil price crash . Even buhari party members that sponsored his campaign and elections have come out to say that he isn't performing up to expectation,so lets stop all these comparisons of which oil producing country is doing what. Only dumb president will allow 8 solid months of no economic policy or direction in the face of impending recession. The tall dullard was busy junketing all over the world Las year when he should have sat his lean ass down ,appoint a solid economic team and sprung into action action. Rather he was saying that he doesn't know why Nigerians are in a hurry for him to appoint his cabinet. The oil prices didn't fall or crash overnight and repeated warnings were given to Nigeria last year by many economist and economic bodies to brace up for it,but the dull deaf president was busy taking selfies pictures and chasing pdp members instead of doing his job.lets not find any excuse for this government cluelessness because there is none


Many countries like? Please name them and tell us their exchange rate against the US dollars prior to the oil price crash in 2014 and also the current exchange rate against the USD as at now (2016). Please save us the "dullard" epistle, I'm not interested.

3 Likes

Re: Naira Surges As CBN Intervenes In Interbank Market by wildchild1: 7:40am On Aug 12, 2016
Help oooo pls CBN



2016/2017 Jerseys available, order now
https://www.nairaland.com/3204752/2016-2017-jerseys-available-affordable
Re: Naira Surges As CBN Intervenes In Interbank Market by 1stdammy: 7:42am On Aug 12, 2016
BIGTinfotech:
Na wa o, Please How far are we to 2019? angry
Very very far ma guy, very very.........
Re: Naira Surges As CBN Intervenes In Interbank Market by onatisi(m): 7:43am On Aug 12, 2016
Many still don't realize the problem the nation is facing. Many businesses are closing shop and moving to neighboring countries ,the economic problem can be managed with confidence boosting measures from the political leadership ,but in a situation where the political leadership itself is scaring investors away,it becomes terribly difficult for the economists to proffer a workable solution. The nation political leadership has failed woefully in giving adequate support to the measures of the cbn.

2 Likes

Re: Naira Surges As CBN Intervenes In Interbank Market by SharkTank(m): 7:43am On Aug 12, 2016
GudluckIBB:
Emefiele is Confused and clueless

Why Stop the activities of Bdc's in the first place.

Emefiele caused this problem right from the day he capitalised BDC's

The juju he's using to hold buhari from not sacking him is very strong.
that's a yoruba thing. Even pastors and GOs use voodoo
Re: Naira Surges As CBN Intervenes In Interbank Market by greggng: 7:43am On Aug 12, 2016
What else is Nigeria producing aside oil? Until we move from consuming nation to producing nation, our economy will never improve.

1 Like

Re: Naira Surges As CBN Intervenes In Interbank Market by onatisi(m): 7:46am On Aug 12, 2016
BIGTinfotech:
Na wa o, Please How far are we to 2019? angry
By December 2016,Nigerians go know how far.

Re: Naira Surges As CBN Intervenes In Interbank Market by zikter(m): 7:48am On Aug 12, 2016
onatisi:
there is no magic the cbn can perform if the political leadership of the nation is clueless and empty headed. To be honest the cbn has been trying with all sorts of experiment but what has the nation political leaders been doing? Nothing , and they even keep scaring investors away by their negative comments and dumb policies.
Even the current ruling political class has no magic band to wand in the face of crashed oil prices, this is what you get in a mono economy which is importation based. The major blame the past ruling class, both military and civilian have is they did not save enough during the windfall, just like the case of venezuala. The only way out in a long run is economic diversification which again is a time consuming process. Any other measure taken now will not yield the desired result in a time that people expect. For now, every person should brace up for hard times and pay the price of CORRUPTION perpetrated by our past leaders.

3 Likes

Re: Naira Surges As CBN Intervenes In Interbank Market by SharkTank(m): 7:49am On Aug 12, 2016
9jii:

The worst CBN governor ever.since his coming there from Gej to Buhari things are getting bad at CBN.
like the minister of Finance
Re: Naira Surges As CBN Intervenes In Interbank Market by BobJames1(f): 7:50am On Aug 12, 2016
The Republicans in America say Obama has failed.
The Labour party in the UK says the Tories have failed
The pdp pigs in Nigeria say Buhari has failed
The list is endless
Re: Naira Surges As CBN Intervenes In Interbank Market by onatisi(m): 7:54am On Aug 12, 2016
zikter:
Even the current ruling political class has no magic band to wand in the face of crashed oil prices, this is what you get in a mono economy which is importation based. The major blame the past ruling class, both military and civilian have is they did not save enough during the windfall, just like the case of venezuala. The only way out in a long run is economic diversification which again is a time consuming process. Any other measure taken now will not yield the desired result in a time that people expect. For now, every person should brace up for hard times and pay the price of CORRUPTION perpetrated by our past leaders.
please what concrete plans or policies does this present government has for diversification of thebnatio economy?

2 Likes

Re: Naira Surges As CBN Intervenes In Interbank Market by zikter(m): 7:55am On Aug 12, 2016
teacherbim:
,

Kuwait,Omar,Saudi Arabia,hope no be sey you wan run leave us?
did you bother to check their currency reserve at all? these country were no selling and looting as we do here and that is why they are comfortable. No person not even Obama can preside over this country and change things as people expect within a short time. As long as oil prices are down for now, we are just going to bear the brunt of looting in the past till when prices are up or economy diversified.

2 Likes

Re: Naira Surges As CBN Intervenes In Interbank Market by bigtt76(f): 8:01am On Aug 12, 2016
There's too much liquidity in the system which why Nigerians can still afford to buy the dollar at the current rate. Bring down the rates and they will mop up all the forex hedging against the rainy day. Floating it won't help either.



orisa37:
The CBN is surely endeavoring to improve the Naira, but should try harder. The CBN should take a bold Denomination Move to bring down Inter Banks Rates to N100/$1 so that its application of the 1.5 and 2 percent margin would trade Dollar at not more than N135/$1 to the End Users. The CBN can do this and has the power to do it to impress PMB and Nigerians. And thanks for ensuring that, henceforth, all forex imports from Oil, goods and services enter Nigeria only through the Deposit Money Banks(DMBs). That's the spirit.
Re: Naira Surges As CBN Intervenes In Interbank Market by onatisi(m): 8:06am On Aug 12, 2016
zikter:
did you bother to check their currency reserve at all? these country were no selling and looting as we do here and that is why they are comfortable. No person not even Obama can preside over this country and change things as people expect within a short time. As long as oil prices are down for now, we are just going to bear the brunt of looting in the past till when prices are up or economy diversified.
This one promised to change Nigeria within 12 months ,he promised 3 million jobs in one year alone,he promised 5k naira for 25million ppl

Re: Naira Surges As CBN Intervenes In Interbank Market by shadeyinka(m): 8:07am On Aug 12, 2016
Nigerians expect some miracles from CBN which is impossible. CBN has the power to monitor the Naira but they have no power to regulate the REAL value of the Naira.

The real Naira value is determined by the ratio of Dollar Earned: Dollar Demand by the Nation.

Naira valuebwill be low if Dollar Demand is high.

The only way out is to either make more Dollar income or Reduce Importation.

Reduction of importation requires upgrade of local MANUFACTURING CAPABILITY!

I rest my case!

2 Likes

Re: Naira Surges As CBN Intervenes In Interbank Market by slap1(m): 8:09am On Aug 12, 2016
teacherbim:


Let be optimistic abeg

My sister, optimism no epp in this present situation.
Re: Naira Surges As CBN Intervenes In Interbank Market by Ucheosefoh(m): 8:19am On Aug 12, 2016
What rate are we going to be charged by banks when doing foreign transactions, interbank or parallel rate ?

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