bigtt76:
This is just a supply induced respite. For God's sake, the naira's true value is dependent on the country's exports and not from hand outs by the diaspora.

Don't forget that the diaspora helped bring down the value unintentionally because everyone was trying to cash in on the high dollar to naira exchange rate. With these rates crashing, trust me the inflows too will drop. This in turn will lead to the situation we were in before

Princewilla:
Are we supposed to celebrate?

DIKEnaWAR:
Quick measures are like quick sand. They wait for your leg to dig deeper, before collapsing on you.

Clerverly:
[s][/s]

kcnwaigbo:
lets hope that happens and brings respite to the economy!!! the current inflataion rate is killing.

Clerverly:
[font=Lucida Sans Unicode][/font]


Trust me, the true Value of the naira is between 280 to 300 naira to a dollar, every other thing is artificially fixed!

kcnwaigbo:


that is what the real value should have been.I wonder why it is taking the government so long to fix it.Lets hope they get it right,the current inflation is just too much

Clerverly:
[font=Lucida Sans Unicode][/font]


Trust me, the true Value of the naira is between 280 to 300 naira to a dollar, every other thing is artificially fixed!

plaetton:
Silly propaganda.

I can't help laughing at the article.

In which other country in the world , even third world basket cases, do we have 3 different exchange rates for the same currency in the same country ?

N304 is for whom or which sector of the economy ?

N385 is for whom or which sector of the economy ?

N450 is for whom or which sector of the economy ?

I can only shake my head .

bigtt76:
This is just a supply induced respite. For God's sake, the naira's true value is dependent on the country's exports and not from hand outs by the diaspora.

Don't forget that the diaspora helped bring down the value unintentionally because everyone was trying to cash in on the high dollar to naira exchange rate. With these rates crashing, trust me the inflows too will drop. This in turn will lead to the situation we were in before

989900D:


Inflow generally increases towards December. That said, even when the rate was N160-200 in 2014, the inflow was almost $20b per annum. The expected inflow this year though, is projected to exceed $30b slightly due to your reason (the emboldened), more Nigerians overseas sending money home than say 3-4 years ago, and SOS calls from home due to the comatose economy. Mind you, those overseas still need to work to get the money, pay bills, and e.t.c.

I need to add too that, as the FMDQ market progresses and more foreign investments (portfolio and real/FDI) are sought, there would be increased inflow, maybe not on the scale we would want, but there would be progressive increase in inflows, no matter how little. Also, the more the BM closes in with the 'interbank' the less unofficial inflows we would have, giving some boost to funds trickling in via official channels.

ATM, of the 'projected' estimated average inflow of $2.9b per month from diaspora remittance, less than $200m is currently being sold to BDCs per month, actually less than $150m.

To topic: I don't see any '280' in the article, bar the heading.

plaetton:
Silly propaganda.

I can't help laughing at the article.

In which other country in the world , even third world basket cases, do we have 3 different exchange rates for the same currency in the same country ?

N304 is for whom or which sector of the economy ?

N385 is for whom or which sector of the economy ?

N450 is for whom or which sector of the economy ?

I can only shake my head .