₦airaland Forum

Obiagelli,

I give it to you, you are a strong woman. I admire your fighting spirit.

Keep it up.

See you at the Top!.

Goodluck to you now and in the future.

Shalom

Firefire!

Please let us not forget the take home message.

During GMB (1983 - 1985) USD was heavily devaluated compare to GEJ (2014)

Obiagelli:
Since the table isn't showing Parrellel rate for 2005 - 2013, is it safe to say there was no parallel market like datolee is claiming before 1985.

2nd official rate for 2013 on that table and the one on cbn's website do not tally.

Therefore there is no way you or datolee can tell me that i can't get 0.894 from the bank in 1985.

Finally this was clearly written on the Wikipedia page datolee got his figures from

This table shows the historical value of one U.S. Dollar in
Nigerian naira - PM = Parallel Market. [ citation needed ]

Your certify response below:

datolee:
For example, the 2015 budget, the FG is exchanging at 165 to a dollar but you know, that is not market determines.

About your other observations, you are right, in that it is difficult to find exchange rates information from 1980... However, whichever you looked at it, Naira lost value during Buhari 20 months regime even at a relatively stable oil price.

Everyone is learning.

Now I extract your link.

What is your question again Obiagelli?

Obiagelli:
Fantastic, just what i want to hear. Go back to my links and check 2013 cbn rates and our source, how come they don't tally since they are both official rates.

www.cenbank.org/rates/ExchRateByCurrency.asp?beginrec=2401&endrec=2500&currencytype=

en.m.wikipedia.org/wiki/Nigerian_naira

What did not tally ?

Official rate is official rate

Parallel market rate is parallel market rate.

So ?

Obiagelli:
You definitely know i am not asking for definition.

From that same source, are saying there was no parallel market from 2005- 2013? You just trying to be clever

2001 99-106 (104-122 PM)
2002 109-113 (122-140 PM)
2003 114-127 (135-137 PM)
2004 127-130 (137-144 PM)
2005 132-136
2006 128.50-131.80
2007 120-125
2008 115.50-120
2009 145-171
2010 148.21-154.8
2011 151.05-165.1
2012 155.09-161.5
2013 153.21-162.9

Batolee is different from Datolee. Ok?

Now, I will like to understand what you wish to achieve with your question.

- Do you want to invalidate datolee submission of the 107% devaluation or want to know if there is no parallel market from 2005- 2013?

What will be your point at the bolded ?

dexpendable:
I believe if any of you Jonathan supporters have daughters who were kidnapped by terrorists and you see the President is practically doing nothing about it... you won't be deluded in this way.. The fact is Jonathan has ruled for 4 years and the situation has only gone worse.. I mean why do people complain that it's his enemies that are behind all this when whom we are talking about here is the President and Commander in Chief of the armed f***ing forces? Are we saying Jonathan's enemies are more powerful than he is? who is incharge in Nigeria?
-Nigeria doesn't have its own national air career? you all are jokes. ...
-Some places have not seen government electricity for close to 3 years. ...
-We still transport our fuel through the roads when the rails can be constructed. ...
-Nigeria doesn't have its own refinery. ...
- All the aircrafts used by the Nigerian airforce are trainer aircrafts abroad. ...
-The Nigerian police do not have patrol helicopters yet...


So what exactly are we talking about?

You miss road

Obiagelli:
I am not asking you for definitions, my question and links are quite clear. The rate we are quoting for 1983 - 1985 is not from the CBN website and does not match 2013 on the cbn website.

Btw the exchange rate at the bank is different from the blackmarket, what is the black market rate called?

Black Market rate is not subjective to this calculation, you can't find any black market rate anywhere than from the vendors.

Our presentation only showcase Official Rate & Parallel Market and nothing more.

Economist will never use black market rate as a subject of discussion.

Obiagelli:
My question Is that official rate the same thing as cbn rates?

I gave 2013 as an example, the rate says 153.21-162.9 while cbn rate was 154.75.

www.cenbank.org/rates/ExchRateByCurrency.asp?beginrec=2401&endrec=2500&currencytype=

en.m.wikipedia.org/wiki/Nigerian_naira

Ok.

1. Official rate of the currency is the declared amount by the Central Bank of Nigeria (This does not mean you will get the fx at the official rate)

2. The applicable rate to get your fx is in parallel market also called interbank rate.

Hope this answers your question ?

berem:
All these Jonathanians praising Datolee,does it mean you can't engage in debates? Firefire,tell Datolee to help you in the thread you created about Tinubu. You must not run away from it.

Madam,

Datolee is on a Special Mission on International League. Please leave am out of our Local League.

Obiagelli:
Datolee, according to cbn, at no point in 2013 was the naira above 154.72

www.cenbank.org/rates/ExchRateByCurrency.asp?beginrec=2401&endrec=2500&currencytype=

But the chart we have been quoting for 1983 - 1985 puts exchange rate for 2013 at 153.21-162.9.

There in no way those could have been official cbn rates so barcanista is right.

All you twist can't work here except you post cbn official rate for 1983 - 1985

Obiagelli,

Honestly, what is your point let me address it.

If I understand you correctly you were asking datolee the rationale of using parallel market price as a checkout point and benchmark it against input of Official rate ?

Official Rate at the beginning of GMB was 0.724 / $
Official Rate at the end of GMB is 0.894 / $
Paralled market rate was 1.5 / $

But datolee stated that he used the parallel market rate of 1.5 / $ being the amount you can get dollar at the time.

So what is your augment, please

Now the matter can continue to rest in peace...


APC stop lying so that we don't see anything to burst again.

You can't get to power through Fabrication, Caricature, and Media Propaganda.

CyberWolf:
At this point, I confer on datolee a chieftancy title of OGBUNIGWE 1 of Nairaland..who is with me?

Confirmed Ogbunigwe I what ever that means

Scatterboss:
Which truth? I still dont understand how you want change in Lagos but want GEJ to continue. You said we should manage him, imagine!

DO you have any better alternative to GEJ

APC LIES BUSTING mechanism discovered.

If you need the blueprint show interest here:

Scatterboss:
You are here again with your hypocrisy. Hehehehehehe. Lagos need a change, GEJ is a failure but we should manage GEJ. FireFire 2014

The truth must be told without fabrication

This is my story...

Martins301:
Bros your lies just got busted here
https://www.nairaland.com/2055648/how-stable-naira-under-gen

and see your response here

https://www.nairaland.com/2055452/exchange-rate-under-buhari-truth/2#29082619

Bon Voyage!

omenka:
"Did Buhari said this?". Once an illiterate....

bros,

Now literate,

Maybe

banki:
@op how come you never talk about the performance of GEJ as governor of bayelsa, you guys are just funny.... you want lagos to be given to PDP so you can ruin it like you've done to the rest of the country

banki moon,

be objective now, are you not tired of Tinubu style of privatizing our common wealth ?

God bless Nigeria and Nigerians.

Goodluck to the remaining viewers...


Peace!

berem:
official i think

http://ngn.fxexchangerate.com/usd/

My sister no let Obiageli dey push you anyhow.

GMB is a BAD MARKET already. Believe me, I cant deceive you.

Fellow Nigerians,

Once again the truth has been told about Major General Mohamodu Buhari Rtd. lies about his economic policy during his draconian rule of 1983-1985.

The record is now set straight

God bless the Federal Republic of Nigeria.

Shalom

Firefire!


N:B: Every other factor(s) is debatable.

E&OE

Thatdave:
Tinubu is one major suspicious figure in APC. All others a votable.

absolutely,

Tinubu is holding the rest to ransom to do his bidding

Nebo Nebo, how about the witches and wizard troubling our power sector ?

Good move, Nigeria shall surely arrive at the destination.

Slow and steady win the race...

Goodluck to Nigeria.

datolee:
Because there was no parallel market (yet to be reported anywhere).. Haven you forgotten that during Abacha there was 2 different exchange rates? My emphasis is how much your dollar will be exchanged at the bank not what the government is exchanging on it's own

I will repeat my question, what is the exchange rate of naira to dollar today?

what is the exchange rate of naira to dollar today


Obiageli, any response

major466:
Exactly. The value of the naira had always been artificially supported by crude oil prices. That has always been the case since 1970s.
The way forward is for government to increase its diversification drive and allow market forces determine the true value of the naira. Its better to have a strong economy and a weak naira than have a weak economy with a strong naira supported by the nation's reserve.

absolutely!

Obiageli do you have any objection to my submission above and below?

chemali:
You cannot make that comparison.

I made comparison likes for likes and in whatever form, GMB era is full of harsh economic woes.

check the percentages in relative terms

Obiagelli:
It funny how datolee quoted official exchange rate for 1983 against parallel rate for 1985. It's just plain evil

Anty Oby

Firefire:
see that Buhari government is worst and Buhari is a very bad economic manager

GMB (1983-1985)
Official Rate 0.724
Official Rate 0.89 23% Devaluation
Parrellel Mrkt 1.5 40% Official Rate @ devaluation vs Parrallel Market
107% Initial Official Rate vs Parrallel Market


GEJ (2014)
Official Rate 155.0
Official Rate 168.0 8% Devaluation
Parrellel Mrkt 185.0 9% Official Rate @ devaluation vs Parrallel Market
19% Initial Official Rate vs Parrallel Market

so what the datolee have shown represent the facts and nothing but the facts.