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CBN Signals End To Official Rate Regime For Naira - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN Signals End To Official Rate Regime For Naira (25153 Views)

Dollar Official Rate Today $1 Equals N182.16 / Buying USD At Official Rate / Dollar Cheaper At Parallel Market Than Cbn Official Rate (2) (3) (4)

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Re: CBN Signals End To Official Rate Regime For Naira by grandstar(m): 7:11am On Jun 13
This is good news.

I suspect Buhari may now be more market friendly now that he's in his last term as president

2 Likes

Re: CBN Signals End To Official Rate Regime For Naira by Nbote(m): 7:13am On Jun 13
nwanneni:
you are not alone bro.i can't wait for the naira to somersault once more so we start hitting that mad dough again.
grin

Baba I don inbox U ooo.. Abeg gist me how
Re: CBN Signals End To Official Rate Regime For Naira by funsho75(m): 7:14am On Jun 13
cool
Re: CBN Signals End To Official Rate Regime For Naira by SonsOfLiverpool(m): 7:14am On Jun 13
This is bad oh
Re: CBN Signals End To Official Rate Regime For Naira by nwanneni(m): 7:15am On Jun 13
Nbote:


Baba I don inbox U ooo.. Abeg gist me how
na export na.When my money dey return to the country e go large scatter grin
Re: CBN Signals End To Official Rate Regime For Naira by NwaJozi: 7:15am On Jun 13
I hope they know they are doing
Re: CBN Signals End To Official Rate Regime For Naira by aaronson(m): 7:15am On Jun 13
This actually means they want to flood the economy with dollars again.
Re: CBN Signals End To Official Rate Regime For Naira by nwanneni(m): 7:16am On Jun 13
aaronson:
This actually means they want to flood the economy with dollars again.
how
Re: CBN Signals End To Official Rate Regime For Naira by dingbang(m): 7:18am On Jun 13
Going to buy dollars
Re: CBN Signals End To Official Rate Regime For Naira by Joromi12: 7:19am On Jun 13
After i sold my dollars. Una dey mad
Re: CBN Signals End To Official Rate Regime For Naira by contigiency(m): 7:19am On Jun 13
dadavivo:
When will Buhari return the price of dollar to where Goodluck Jonathan left it for him.

I wanted to concur with you but I had to do a small research and found out that Jonathan too could not return a lot of things including the exchange rate, prices of commodities, foreign reserve etc to the level the previous regime before him handed over to him.

And that no president since 1999 left anything better or even the same when they took over except foreign reserve which Obasanjo took to 65 billion dollars but got squandered by Yara dua and Jonathan's governments. Buhari is now building the reserve now as it has gotten to 45 billion dollars as against the 28 billion dollars Jonathan left it.

7 Likes

Re: CBN Signals End To Official Rate Regime For Naira by aaronson(m): 7:20am On Jun 13
nwanneni:
how
how can naira find it's value when they lift it's pegged rate on some sectors?

This will only depreciate the naira and appreciate the use of dollar more hence flooding the economy with dollars.

1 Like

Re: CBN Signals End To Official Rate Regime For Naira by aaronson(m): 7:21am On Jun 13
Joromi12:
After i sold my dollars. Una dey mad
start buying them back, i see crisis looming. Now i believe CBN is the cause of our problems not the economy.

1 Like

Re: CBN Signals End To Official Rate Regime For Naira by Joromi12: 7:23am On Jun 13
Sinach0191:
Economist pls hw do u make naira appreciate
increasing the earning power of naira. Lets say we export oil 10m. We buy products 12m. Per year. The value drops. Now lets begin to export more things and buy less foreign products. To make it 15m to 10m. The value rises

6 Likes

Re: CBN Signals End To Official Rate Regime For Naira by adanny01(m): 7:24am On Jun 13
dadavivo:
When will Buhari return the price of dollar to where Goodluck Jonathan left it for him.

If your post is in good fate, do the same comparison of 2010-2015 as well as the crude oil price in both periods since our economy is oil dependant. Also, dont forget the FX reserve which is the back bone of this import dependant country.

When you do that, lets come back and talk.

1 Like

Re: CBN Signals End To Official Rate Regime For Naira by aaronson(m): 7:25am On Jun 13
bigstan11787:
Why can't it fall back to N85/doller?
dummy it can't! That's why they playing games with it for the elites to rake in money via cbn and bureau de change, then when dollar saturates the economy and causes inflation, we kick out dollar again, Naira will appreciate again by then they would have made money off dollar sales. Can you now understand the game?
Re: CBN Signals End To Official Rate Regime For Naira by bigpicture001: 7:27am On Jun 13
Sinach0191:
Economist pls hw do u make naira appreciate

Simply increase your forex supply to surpass forex demand....forex means foreign currency

2 Likes

Re: CBN Signals End To Official Rate Regime For Naira by bigpicture001: 7:28am On Jun 13
aaronson:
dummy it can't! That's why they playing games with it for the elites to rake in money via cbn and bureau de change, then when dollar saturates the economy and causes inflation, we kick out dollar again, Naira will appreciate again by then they would have made money off dollar sales. Can you now understand the game?

All u said are ur personal propaganda....u didn't answer the question

2 Likes

Re: CBN Signals End To Official Rate Regime For Naira by Sinach0191(m): 7:28am On Jun 13
Joromi12:
increasing the earning power of naira. Lets say we export oil 10m. We buy products 12m. Per year. The value drops. Now lets begin to export more things and buy less foreign products. To make it 15m to 10m. The value rises





Nice I don't think this government will listen
Re: CBN Signals End To Official Rate Regime For Naira by yinkeys(m): 7:29am On Jun 13
I just won't be surprised if the cabal have bureau de change business across the country.

2 Likes

Re: CBN Signals End To Official Rate Regime For Naira by lastempero: 7:30am On Jun 13
At the other side we wait for it to reach 500 naira,we must hammer this yr
Re: CBN Signals End To Official Rate Regime For Naira by mankand(m): 7:31am On Jun 13
Reality just dawn on Nigeria between 2019-2023. Brace up, Las Las sense go come the head of 16, 671,430 who voted for him again
Re: CBN Signals End To Official Rate Regime For Naira by nwanneni(m): 7:32am On Jun 13
bigpicture001:


All u said are ur personal propaganda....u didn't answer the question
he kept on spitting crap.i thought I was the only one who noticed. undecided

1 Like

Re: CBN Signals End To Official Rate Regime For Naira by tiwiex(m): 7:32am On Jun 13
contigiency:


I wanted to concur with you but I had to do a small research and found out that Jonathan too could not return a lot of things including the exchange rate, prices of commodities, foreign reserve etc to the level the previous regime before him handed over to him.

And that no president since 1999 left anything better or even the same when they took over except foreign reserve which Obasanjo took to 65 billion dollars but got squandered by Yara dua and Jonathan's governments. Buhari is now building the reserve now as it has gotten to 45 billion dollars as against the 28 billion dollars Jonathan left it.

He also increased our debt by over 20b dollars which makes the foreign reserve argument pointless.

4 Likes 1 Share

Re: CBN Signals End To Official Rate Regime For Naira by aaronson(m): 7:32am On Jun 13
Sinach0191:
Economist pls hw do u make naira appreciate
Ok here is what you don't understand, it's appreciating now but FG is about to make it compete with the US dollar in our own economy, that is the meaning of that news you just read.

When USD competes with naira, USD always wins but before you know it people who can only access these dollars cheaply from CBN would have made billions, so can you understand how the game is being played.

One time sanusi said, he can make billions with just his laptop from the comfort of his sitting room manipulating forex, this is what he meant.

2 Likes

Re: CBN Signals End To Official Rate Regime For Naira by nwanneni(m): 7:35am On Jun 13
aaronson:
Ok here is what you don't understand, it's appreciating now but FG is about to make it compete with the US dollar in our own economy, that is the meaning of that news you just read.

When USD competes with naira, USD always wins but before you know it people who can only access these dollars cheaply from CBN would have made billions, so can you understand how the game is being played.

One time sanusi said, he can make billions with just his laptop from the comfort of his sitting room manipulating forex, this is what he meant.
of course we know there would be lots of round tripping amongst a selected few.
But is that the reason for the incoming float ?I guess not.
Re: CBN Signals End To Official Rate Regime For Naira by Sinach0191(m): 7:35am On Jun 13
aaronson:
Ok here is what you don't understand, it's appreciating now but FG is about to make it compete with the US dollar in our own economy, that is the meaning of that news you just read.

When USD competes with naira, USD always wins but before you know it people who can only access these dollars cheaply from CBN would have made billions, so can you understand how the game is being played.

One time sanusi said, he can make billions with just his laptop from the comfort of his sitting room manipulating forex, this is what he meant.



I understand the game
Re: CBN Signals End To Official Rate Regime For Naira by bigpicture001: 7:36am On Jun 13
This can be achieved with good results ONLY with consultation with dangote....he holds the ONLY key to nairn stability. not the president!
Re: CBN Signals End To Official Rate Regime For Naira by nwanneni(m): 7:37am On Jun 13
bigpicture001:

This can be achieved with good results ONLY with consultation with dangote....he holds the ONLY key to nairn stability. not the president!
what is that key ?the refinery right ?
Re: CBN Signals End To Official Rate Regime For Naira by Billy0naire(m): 7:37am On Jun 13
This is the best time to join the Yahoo Yahoo Boys Incorporated (YYBI). I know the Yahoo Boys will smile when reading this news.

Now I envy them, cos the naira is about to hit 500 naira per dollar in a few months. And they just make money while wearing only boxers in their rooms.

grin


Buhari is tired of experiments. Now is the time to know the true state of our economy. The FDIs will increase, and the economy will be better for it, but our consumer goods will face certain inflation. But we will get used to it, because it is the best thing to do.

Float the currency, and force people to consume locally made products.

6 Likes

Re: CBN Signals End To Official Rate Regime For Naira by Sinach0191(m): 7:37am On Jun 13
bigpicture001:


Simply increase your forex supply to surpass forex demand....forex means foreign currency


Why can't they do it na
Re: CBN Signals End To Official Rate Regime For Naira by aaronson(m): 7:37am On Jun 13
nwanneni:
of course we know there would be lots of round tripping amongst a selected few.
But is that the reason for the incoming float ?I guess not.
I also was the "i guess not" like you until some one let me in on it, this person does thier dirty work for them.

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