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What We Should Know About The Current Exchange Rate. by MONEY247: 12:36pm On Mar 26 |
This is why the Naira is gaining The CBN is selling at N1,251 so no trader locks in large transactions above N1,251 In essence, the Naira has floated but the CBN is intervening to strengthen the Naira by selling its FX reserves to BDCs are a price below the willing buyer/ willing seller price Implementations? The Naira will gain value but FX reserves are paying for it This is a band aid, the CBN is attempting to fix a problem it can’t fix without a high war chest of FX reserves The long-term fix is to export.. The CBN is subsidizing $ flow to the BDCs Who are these BDCs? Who owns them? What is their contribution to GDP or job creation? I would prefer the CBN subsidize exporters If you export and remit back to CBN you buy your dollars at $1:N1251 © Kalu ujah The best way is massive production especially in areas with comparative advantage, and cutting down exchange rate manipulation... |
Re: What We Should Know About The Current Exchange Rate. by DaniellaDokubo(f): 12:39pm On Mar 26 |
MONEY247: Perfect! Except our balance of trade is fixed we go no where... |
Re: What We Should Know About The Current Exchange Rate. by nawaforyouo: 1:21pm On Mar 26 |
MONEY247: GBAM! Lets see how long this would last. |
Re: What We Should Know About The Current Exchange Rate. by ClimaxHerbalixt(m): 1:23pm On Mar 26 |
Sure |
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