Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,165,928 members, 7,863,277 topics. Date: Monday, 17 June 2024 at 02:18 PM

CBN Injects Another $190m Into Forex Market - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN Injects Another $190m Into Forex Market (5452 Views)

CBN Injects $482.6m Into Forex Market, Naira Gains / CBN Injects Another $100 Million Into Forex Market / 24 Hours After New Policy, CBN Injects $371m Into Forex Market (2) (3) (4)

(1) (2) (Reply) (Go Down)

Re: CBN Injects Another $190m Into Forex Market by Nobody: 9:24am On Jun 20, 2017
Artificial floatation will lead us no where ooo...
Re: CBN Injects Another $190m Into Forex Market by bejeria101(m): 10:08am On Jun 20, 2017
Doctor CBN! Inject well o.
Re: CBN Injects Another $190m Into Forex Market by iokpebholo: 10:22am On Jun 20, 2017
Is it sustainable? The answer is hell No
Re: CBN Injects Another $190m Into Forex Market by egbetokuns(m): 11:30am On Jun 20, 2017
Our next 2  Days Profitable Pig farm Training is in September
 
Date : 15th & 16th      September in Lagos
 
Date:  22nd & 23rd   September in Ibadan
 
The training will be handled by Mr Yemi Adesina  and along with other experienced farmers.
 
This training is designed  for
1. proprietor, manager and supervisor  of a pig farm,
2. those who are new to pig farming and needed the technical know-how of  starting a successful pig farm
3. and those who are already rearing pig but would like to turn their farm into a  commercial pig farming.
 
The maximum number of participants is 30.
 
Day one will be in conducive environment that would allow participants to digest the fundamental theory and technical know how of running a profitable commercial pig farming and to ask questions.
 
Day two will be full hands-on on our farm, participants will be involved in  the key day to day operational activities.
 
Due to popular demand the number of space left is fast going so you will need to confirm your interest by replying back to this by texting us for payment details to book your own slot.
Or  contact  us on  Deacon Seyi  +2348060585352  or  WhatsApp Yemi Adesina on +234 803 918 2732
The training is  N35,000 per participants.
 

https://www.youtube.com/watch?v=fS9igA534GE
 
Below are the topics that will be covered
 
1.     Introduction to pig production national and worldwide Pig Production
2.     Why should you venture into commercial pig production now
3.     Is pig farming profitable ~the economics of pig production? - Where is money made or lost in pig farming.
4.     Benefits of pig farming
5.     The attitude of a profitable pig farmer
6.     Planning, locating and constructing a pig farm
7.     Selecting and transporting pigs to your farm
8.     Care and management of pigs
9.     Daily Farm Hygiene
10.   Breeding – Heat detection, pregnancy management
11.   Feed management &  Feed Formulation
 
Handout and certificates will be given to each participants
 
Refreshments and lunch will be provided
 
We will be glad to give you details of hotels that are available in the area, if you require one.
 
We look forward to meeting with youWe get there one day






uote author=Truth234 post=57677224]The Central Bank of Nigeria, CBN, on Monday sold another $190 million to meet customers’ requests in various forex segments.

The apex bank which injected $831.5 million into the interbank forex market last week said it would soon introduce a new forex retail option.

Speaking on the disbursement, the acting Director, Corporate Communications, Mr Isaac Okorafor, said in a statement in Abuja that the apex bank sold $100 million to authorised forex dealers through the interbank market, while $50 million was offered to Small and Medium Enterprises window.

Accordingly, the invisibles segment was appropriated $45 million to meet demands for business/personal travel allowances, school tuition and medicals.

The CBN reaffirmed its commitment to the ongoing forex policy and insist on transparency to guarantee stability in the foreign exchange market.

Since the Investors and Exporters forex window was launched in April, the CBN has aided transactions by contributing 30 percent of the total forex volume traded on the window, boosting total volume of trade to $2.2 billion.

This has helped increase forex liquidity and subsequently improved consumer prices which measure inflation to 12 months low of 16.25 percent in May from 17.24 percent in April.

Also, in an effort to further reduce inflation rate, the CBN last week announced a plan to mop up N200.32 billion from the banking system through Open Market Operation.

However, the Statistician General of the Federation, Dr. Yemi Kale said the economy will be out of recession in 2018, provided oil prices do not collapse and Niger Delta remains stable.

While his projection is more conservative than other experts, the statistician said; “Inflationary slowdown does not mean prices are coming down. Inflation by definition is always a rise in price. All we are saying is that the increase is decelerating.”

“Before it rose by 100 percent, but this time it went up by 50 per cent. As such, having double-digit inflation figure is still a huge problem. The fact that it went down from over 18 per cent to 17 per cent and now to 16 per cent shows improvement. But I can tell you 16 percent is not good,” he said.

The Naira appreciated to N364 against the dollar from N370 it traded last week.

http://investorsking.com/cbn-injects-another-190m-into-forex-market/
[/quote]
Re: CBN Injects Another $190m Into Forex Market by onatisi(m): 12:15pm On Jun 20, 2017
iokpebholo:
Is it sustainable? The answer is hell No
At the rate at which they are going by December they would have spent a whooping 15billion dollars just to protect the naira. Spending 6 billions dollars within 3 months to protect the currency of a nation with a total external reserve of mere 30 billion dollars is absolute madness.
Re: CBN Injects Another $190m Into Forex Market by InvertedHammer: 1:54pm On Jun 20, 2017
LionDeLeo:
Yeah, they should increase the tempo.

But when are they increasing withdrawal from Naira-denominated account from $100?

Oil price is collapsing againt. Brent @ $45/barrel and USoil @ 43/barrel. I am just watching to see how long more CBN can keep the injection up. Very wealthy countries with huge external reserves tried interventions and failed woefully. The naira will be going for N600/$ by the end of this year.
Re: CBN Injects Another $190m Into Forex Market by LionDeLeo: 2:00pm On Jun 20, 2017
InvertedHammer:


Oil price is collapsing againt. Brent @ $45/barrel and USoil @ 43/barrel. I am just watching to see how long more CBN can keep the injection up. Very wealthy countries with huge external reserves tried interventions and failed woefully. The naira will be going for N600/$ by the end of this year.

God forbid.
Re: CBN Injects Another $190m Into Forex Market by kowalsky: 2:38pm On Jun 20, 2017
LionDeLeo:


God forbid.

God forbid for you. Amen for me cheesy
Re: CBN Injects Another $190m Into Forex Market by twosquare(m): 2:47pm On Jun 20, 2017
When FG is ready to do the right thing, they should call me. Just checked now...dollar Naira rate today has jumped to N467/$...moving towards 500.....keep on hailing failed policies, my people....


Cc onatisi
Re: CBN Injects Another $190m Into Forex Market by Konnektions146(m): 2:48pm On Jun 20, 2017
onatisi:

I am overly glad and excited that i am chatting with someone who knows about economics mnd I can see u understand my points. the instability is still there because the fdis too are watching and they know that the rates been used today are there because of government internvention not as a result of economic growth. What happens if there is a slash in oil prices and the fx isnt coming in again? That is why we need to develop fast areas we know we can use as an economic base and diversify from oil. The same mistake the previous governments made is what this government too is making .


How willing in real sense are those direct investors?

Making a comparative analysis, and weighing options, they are rather using this as immediate solution to better the lot of the masses by bringing down rates than allowing the so called "market forces* to take over waiting for FDIs and the the .masses wallow high cost of living.

Nigeria is not ripe for uncontrolled FX market

Check what's going on in BTC space in Naija, other rates are coming down, USD is coming down, ours is going up.

All your suggestions are right in a sane clime, not Nigeria
Re: CBN Injects Another $190m Into Forex Market by onatisi(m): 3:37pm On Jun 20, 2017
Konnektions146:


How willing in real sense are those direct investors?

Making a comparative analysis, and weighing options, they are rather using this as immediate solution to better the lot of the masses by bringing down rates than allowing the so called "market forces* to take over waiting for FDIs and the the .masses wallow high cost of living.

Nigeria is not ripe for uncontrolled FX market

Check what's going on in BTC space in Naija, other rates are coming down, USD is coming down, ours is going up.

All your suggestions are right in a sane clime, not Nigeria
Baba mi, nigeria is the largest black nation in the world with a population of over 180 million ppl,nigeria is the biggeat and largest market in africa ,nigeria is the 9th largest oil producing nation in the world. this is a country with huge human and natural resources to become a world economic super power if only she has sensible vibrant leaders. despit all these potentials fdis wont pour their valuable cash into an economy fu of inconsistent economic policies and government controlled economy. floationg or devaluation of the nation currency will enable the nation economy become exportation based as our goods will be cheaper than other nations goods. propping up the naira all in a bid of political ego showing is totally detrimental. once production picks up, and trade balances ,the exchange rate will automatically stabilise itself. we should ask ourselves this question,if the exchange rate is the nation problem then why hasnt the economy improved since they started all their interventions? fdis are watching and the truth is for any nation to develop in this modern day global economy ,such economy needs investors. now the currency is strong and it only makes importation attractive and lucrative,local manufacturing companies are still groaning and closing down daily. so what is the point? the 6 billion so far thrown into the market could have been used to even develop the agric sector of our nation . right now what everyone is doing is to make as much money as possible before the whole thing crashes. relying on dangote refinery to solve the nation oil refinery problem and fx leakage is even a big shame on this government.

1 Like

Re: CBN Injects Another $190m Into Forex Market by onatisi(m): 3:42pm On Jun 20, 2017
Konnektions146:




All your suggestions are right in a sane clime, not Nigeria
baba you are too much. it really pains me when I see the huge potentials of this nation been wasted daily. but just like you have wisely said the situation in nigeria isnt sane
Re: CBN Injects Another $190m Into Forex Market by ugbengasin34: 4:46pm On Jun 20, 2017
Folks Visit


WWW.MALOOFX.COM

These guys “Quality Check” their rates and ensure it aligns with the 3 sources they get rates from.

Maloofx collect rates from Lagos, Abuja, & PH. They do this as a way of Quality Control. Most at times they are close with a difference of N5 to N15 at most.

Maloofx is the new kid on the block, I know the guys who develop it, and they have good experience with Forex trade. Not only do they bring you information from the parallel/black market rates across 3 cities (Abuja, Lagos & PH) in Nigeria, they also show you the comparison of the rates in the Diaspora (Abroad folks).


London folks no need to call Peckham.


Know the true rate after removing “Dealers” commission


Have fun.

(1) (2) (Reply)

How Good Is Carbon Loan / Requirements (gtb Individual Current Account)? / Ringo "Ringoshops" - A Promising Upcoming Telecom Franchise?

(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. 37
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.