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Nairaland Forum / Nairaland / General / Business / I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban (21214 Views)
Naira Falls To Record Low At I&E Window, Trades ₦993/$ / CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals / Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window (2) (3) (4)
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by Nicepoker(m): 7:14pm On Oct 14, 2023 |
DeLaRue:what is the country exporting that will bring in the dollars. The crude oil has even been sold up front. 1 Like |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by Loverboi2cute(m): 7:16pm On Oct 14, 2023 |
u no go see Jennyclay & Siofra dem for dis kind thread 😌😎😎... awon físh bráin dem 2 Likes |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by lordm(m): 7:16pm On Oct 14, 2023 |
Please accountants explain this to me in layman's terms 2 Likes |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by eteebanky: 7:21pm On Oct 14, 2023 |
bennybuhari: Do not mind the evil Man |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by donbrowser(m): 7:28pm On Oct 14, 2023 |
DeLaRue: There was enough dollars for like 2 to 3 weeks now with no one picking them up, I think the FG is doing their best |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by Philosophia91(m): 7:31pm On Oct 14, 2023 |
Amen🙏🙏🙏 DrAkpamudehe: |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by Nobody: 7:33pm On Oct 14, 2023 |
Good development |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by abbey621(m): 7:39pm On Oct 14, 2023 |
The only way to save the Naira is for us to balance exports with imports, turning from a consumption economy to a producing one. It is not easy and tough decisions must be made but even if government no get sense and their eyes are full of blindness causing cataracts, we can't dismiss the simple fact that we need stable electricity and working refineries in order to truly empower the economy! All these short and manipulative strategies won't WORK! 9 Likes 1 Share |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by McLizbae: 7:44pm On Oct 14, 2023 |
The last time Comercial banks agreed they have dollar was immediately after the civil war🤣🤣😂. I believe they sell all their dollar through black market now. JuanDeDios: 1 Like |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by rex21: 7:46pm On Oct 14, 2023 |
nototribalist:You and who dey stand with who ?? Abeg, I'm just a spectator |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by BoldBrainz(m): 7:56pm On Oct 14, 2023 |
DeLaRue: Your first and second paragraphs are contradictory. Government cannot increase funding to the I&E window except FDIs flow in immediately or BDCs are eliminated. The CBN does not print dollar notes. Foreign investors can bring them in and that translates to an injection of that FX into the official window for importers to access. OR, Bureau De Change merchants can be eliminated from the system so they can push their FX to the official channels and boost our FX reserve. You cannot say government can ignore BDCs and their rates and then expect same government to magically inject FX into the official CBN determined window. |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by Truths9ja: 7:58pm On Oct 14, 2023 |
Another lies and propaganda again from Tinubu government 1 Like 1 Share |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by BoldBrainz(m): 7:58pm On Oct 14, 2023 |
donbrowser: Enough dollars where? And the rate kept going up against the naira? Are you sure some of you even know anything about the words you vomit as contributions to issues? 1 Like |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by Elliotwaveforec: 8:01pm On Oct 14, 2023 |
Paraman:You're a good analyst! Naira will depreciate at official and appreciate at black. |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by donbrowser(m): 8:04pm On Oct 14, 2023 |
BoldBrainz: Did you do any dollar transaction in the past 3 weeks? |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by millhouse: 8:07pm On Oct 14, 2023 |
BoldBrainz:leave all these genz wey still Dey eat rice for their papa house . They know nothing about what’s going on in the economy |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by IMAliyu2: 8:25pm On Oct 14, 2023 |
JuanDeDios:Yeah, this was caused by the previous administration when they closed off all meaningful official channels to acquiring forex, because they were dead set on maintaining the controlled naira price at the time. This ended up bolstering the black market, and the artificially enforced naira rate meant some people which might have had access to dollar at the official rates were incentivized to cheat the system and make money off arbitraging further draining our forex reserves. |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by coleon(m): 8:35pm On Oct 14, 2023 |
JuanDeDios:Are you minding the ignoramus. The black market is what sustains the Nigerian economy. That I and E rate you are seeing there is artificial. I even heard from an official source that you pay higher rate in the I and E market. It's just to make the government feel good that they report that rate. 2 Likes |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by Jlow2: 8:41pm On Oct 14, 2023 |
Apc policies only work on the media , newspapers and national tvs 1 Like |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by JuanDeDios: 8:45pm On Oct 14, 2023 |
IMAliyu2:Well, it's an old problem. It probably started with Abacha who pegged the dollar at N22 throughout his reign. When market realities changed, he refused to budge and a significant difference emerged between the official market and the black market. Arbitrage has been a problem since then. It got worse under the Buhari-Emefiele administration when the difference became so huge and politicians and traditional rulers got involved. |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by LZAA: 8:50pm On Oct 14, 2023 |
jmoore:You are explaining to someone who does not have a clue what you are talking about 😄 |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by ade4real2016: 8:50pm On Oct 14, 2023 |
The naira however appreciated slightly as it exchanged at 764.86/$ from 766.70/$ on Thursday. This is not possible.. What are those mechanism put in place at d close of business on Wednesday..This is misguided information... |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by BreconHills(m): 9:04pm On Oct 14, 2023 |
DeLaRue: There is precious little USD to fund anything which is why we have this challenge. A reserve level of $70bn for example or import cover for 6 months plus will see USD crash to say 500/600. I am happy that people are discussing this rather than taking the easy way out and throwing stones. |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by Saintinoo(m): 9:12pm On Oct 14, 2023 |
DeLaRue: |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by ebuks4ever(m): 9:14pm On Oct 14, 2023 |
bennybuhari: Have they reopened the borders? It was a very silly move. Good intentions, worst of timing. |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by Saintinoo(m): 9:17pm On Oct 14, 2023 |
lordm: What does an accountant know about exchange rate? An economist will explain better. |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by Tareq1105: 9:33pm On Oct 14, 2023 |
Paraman: You've seen well |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by BoldBrainz(m): 11:14pm On Oct 14, 2023 |
donbrowser: I do FX transactions at least once a week. I monitor exchange rates windows on a daily basis. But my individual transactions are not a teller as to the abundance of FX in our system or otherwise. Anybody who comes to vomit the nonsense about a surplus of FX in our market space in the last three weeks is an idiot of unequal proportions. |
Re: I&E Window Records $53.02m Turnover After CBN Lifts Forex Ban by chachanga: 4:59am On Oct 15, 2023 |
bennybuhari: A man that should have been lynched publicly like the foolish common thief that he was. He destroyed everything. |
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