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Nairaland Forum / Nairaland / General / Politics / What Cardoso And CBN Need To Do To Rescue The Naira (1236 Views)
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Re: What Cardoso And CBN Need To Do To Rescue The Naira by lastkingsman: 9:31am On Dec 10, 2023 |
ednut1: People are speaking grammar sha. When I first head the term de-dollarization, I discovered that the us dollar is 60% of global reserve. Add USA allies like Euro, CAD, pounds, AUD, Yen, won and it's over 85%. Economy is a confidence game built on rule of law. That's what these countries have that others don't. Like PO always says, rule of law is the intangible asset that drives Western economy. People don't understand this. You can't have a system where people buy elections and expect miracles. Naira will continue to slide gradually |
Re: What Cardoso And CBN Need To Do To Rescue The Naira by kingsways: 9:50am On Dec 10, 2023 |
tommy589:Yes price of crude fluctuates but a country should not allow the value of their currency be fluctuating with the price of crude. This why you have a Central Bank. It is their job to achieve relative stability of prices and exchange rate. You build up reserves when prices are high cause you know prices may not always be high |
Re: What Cardoso And CBN Need To Do To Rescue The Naira by tommy589(m): 10:43am On Dec 10, 2023 |
kingsways: How do you engage market forces in fluctuations, stability of prices,exchange rate and build up of reserves. Tell us in practical terms what you are going to do as Nigeria's President or CBN governor. Explain in a way that an average Joe would understand and get to experience some form of Naira stability in 36 months |
Re: What Cardoso And CBN Need To Do To Rescue The Naira by kingsways: 2:14pm On Dec 10, 2023 |
tommy589: Maybe you shld read the original post again. If a market is free enough, prices and exchange rate will be determined by market forces, i.e. forces of supply and demand....I clearly highlighted what needs to be done to improve FX supply and also moderate demand. Crude is a major but not Nigeria's only source of FX inflows. There's inflow from other exports and remittances |
Re: What Cardoso And CBN Need To Do To Rescue The Naira by SavageMaster: 6:54am On Dec 30, 2023 |
Where is that FreeStuffs guy? I'm sure he will avoid threads like this like a leper. Engage in intellectual discussion for just five minutes. Nice thread by the way. |
Re: What Cardoso And CBN Need To Do To Rescue The Naira by SalamRushdie: 7:03am On Dec 30, 2023 |
Unfortunately most of what you have written shows you don't understand the problem at all |
Re: What Cardoso And CBN Need To Do To Rescue The Naira by kingsways: 10:37pm On Dec 31, 2023 |
SalamRushdie: Ok so you understand the problem. Help me out, what is the problem? |
Re: What Cardoso And CBN Need To Do To Rescue The Naira by SalamRushdie: 1:17am On Jan 01 |
kingsways:.. GTFOH |
Re: What Cardoso And CBN Need To Do To Rescue The Naira by SalamRushdie: 1:17am On Jan 01 |
kingsways: If you think I have your time then your are mad ni |
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