₦airaland Forum

Exchange Rate for Dollar-Naira, WEDNESDAY 1st April 2015

CBN $1 N197.00

OFFICIAL RATE $1 N199.05

BDC $1 N214.00

PARALLEL RATE $1 N214.50



Location Matters For BDC Market & Parallel Market

EnlightenedSoul:
I meant that it isn't good enough, not that it's bad.

Ok now I get it

EnlightenedSoul:
All things considered, we still have a long way to go.

What I want to understand is it a good thing for your country because I am not there.

And from your view it seems that this is a bad progress.

siraj1402:
It will soon come down.

Never Again. Bro

Nigeria shall be Great.

Thanke.

[quote author=ifyan post=32213801]Election really play a big part in DOLLAR TO NAIRA APPRECIATION.

As of now I don't think it reach $1 = N220

Unless we(NIGERIAN)don't put our house(NIGERIA) in order.

<>NEVER AGAIN shall $1=N220

<>NEVER AGAIN shall we(NIGERIAN) wait before we put our house(NIGERIA) in ORDER.

Believe Nigeria shall BE GREAT

Source:http://nairausd..com/[/quote

EnlightenedSoul:
If "ifs" and "buts" were candies and nuts, everyday would be a holiday.
These gung-ho positive articles on our economy are the last thing we need, lol.
The biggest US employers used to be the likes of GM, Ford, General Electric, and US Steel. New job-creating technologies used to rapidly create millions of highly-productive jobs, and support the working & middle class. General Motors alone once employed 850,000 people. Now, the combined workforces of the world's most valuable company and leader in consumer electronics (Apple), the world's biggest software company (Microsoft), and the most powerful company on the internet (Google) have a combined workforce - between the three of them - of just a quarter of those GM once provided on its own! Now, the large-scale employers are in the low-skilled, low wealth producing service jobs (ex. Walmart employs approx. 1.4 million in the US alone, & McDonalds comes in w/ another 1/2 million.)
The highly-increased global competition has also taken it's toll. The center for manufacturing has already shifted to Asia, leaving many Western nations with permanent trade deficits. Now, certain European countries in particular are destined to be relative minnows, with the US, China and India being the major economic "powers" for the time being. France, for instance, ran trade surpluses up to and all through the 1990s, but since the turn of the millenium has run constant deficits (reaching over 70 billion in recent years).
The rapidly aging population, i.e baby-boomers, have lead to enormous increases in retirement, SSI, health costs, and the continual fall in the share of the population that is of working age (increasing the ratio of workers to dependents). This trend is morally-imperative (no-one wants to see the elderly left untreated or destitute) but to be blunt, this isn't a 'high-yield' form of economic investment (the biggest beneficiaries are economically inactive), and there's only going to be an ever-increasing demand on the economy as time goes on.
It's a cost that some of the West's new competitors largely don't face, either because the populations are much younger (e.g. India), or have minimal social welfare (e.g. China). To take an example from Europe, the economic future of a country like Italy, which has one of the world's lowest birth rates, highest life expectancies, and one the highest government debt(s) already, is frankly bleak.
Anyway, I'll remain relatively un-gung-ho about this until the US re-learns the art of [relevant] investing, hits the brakes on spending, and our nightmarish outsourcing free-fall (vs. our dependence on wild-handed consumerism).

Sis I am wow by your explanation. But can you explain it further(This time make in a lay man term) .

Thanke

Good for America and

By Kingsley Jeremiah

Contrary to popular belief that China is the dominant Asian's investor across the Africa continent especially Nigeria, a research by global law firm- Linklaters, has said that over two thirds of all Japanese-led deals over the past decade have focused on Nigeria, making the Far East Asian country the biggest Asian investor in Nigeria.


According to the research published on its website last week, Japan now ranks as the most active Asian project finance sponsor in Africa as a whole, spearheading 160 per cent rise by Asian funds in African project finance.

The Managing Partner of Linklaters' Japan office said: "Japan has made slow but significant inroads in growing its influence across the continent.

This underpins why many in the market are expecting African countries to remain significant investment destinations for Japanese capital over the next decade"

"Over the last 10 years, the level of project finance investments sponsored by Asian funds in Africa has increased by over 160 per cent the amount of fresh capital poured into the continents' projects such as roads, water sanitation plants and oil and gas pipelines in the last year alone standing at $4.16 billion", Linklaters said.

Maxwell added: "It's no surprise to see Nigeria feature so prominently - the investment appetite is huge, with opportunities and a level of return on investment across the energy and infrastructure sectors to match."

The report revealed that the surge was attributable to Japanese investors, who have ramped up their project finance commitments in Africa by a overwhelming 576 per cent culminating with $3.54 billion invested in last year alone as a result of a large focus on projects in Morocco.

According to report, China ranks as the second biggest Asian sponsor into Africa, committing in excess of $11.9billion of project financing over the past decade.

The report said that about half of China's investment ($4.9billion) was focused on South Africa.

It added that it was closely followed by India which has bankrolled more than $10.5billion of project finance investments, half of which have been based in Mozambique where it stands as the country's leading investor.

This information is coming after a recent pledge by representative of Japanese investors who is the Trade Commissioner and Managing Director of Japan External Trade Organisation (JETRO), George Sato that Japan would invest more in Nigeria after the 2015 general elections.

JETRO reported earlier this year in its fact sheet that the recent Ebola issue that hit the nation as well as the insurgency in the Northern part of the country dwindled the interest of Japanese investors into the country.

The publication revealed that Japan's export to Nigeria was stagnating despite Nigeria's economic growth stating that trade between Nigeria and Japan stood at $4.2 billion for the year 2013.

Source:http://nairausd..com/

A new report from the National Association for Business Economics points to improved prospects in the U.S. employment market, a lower inflation rate, and additional consumer spending growth in the 2015 calendar year, as compared to the organization’s December 2014 report.


“Healthier consumer spending, housing investment and government spending growth are expected to make outsized contributions to the projected acceleration in overall economic activity.

Accordingly, recent labor market strength is expected to continue,” said NABE president John Silvia, who is also Wells Fargo’s chief economist.

The group also cited a few other variables behind March’s improved prospects, such as a stronger greenback, low oil prices, and improvements in the housing space.

Crude oil prices, which went down from $98 per barrel in December 2013 to $59 in December 2014, are forecasted to average $61 by the end of 2015 and $69 by the end of next year.

This is in contrast to December’s report, which had a forecasted oil price of $85 per barrel by December 2015.

There were, however, some potential headwinds pointed out in NABE’s March report.

The headwinds, according to the business economics group, include a larger U.S. trade deficit this year, reduced corporate profit growth forecasts for calendar 2015, and lower hourly compensation as compared to the December report.

Regarding the U.S. Federal Reserve’s inevitable raising of interest rates from near-zero levels, 88 percent of NABE’s prognosticators said that the Fed may start hiking rates in the June or September 2015 quarter.

Source:http://nairausd..com/

Exchange Rate for Dollar-Naira, MONDAY 30th March 2015

CBN $1 N197.00

OFFICIAL RATE $1 N199.05

BDC $1 N220.00

PARALLEL RATE $1 N221.00.



Location Matters For BDC Market & Parallel Market


Less Demand For Dollar Today,

You know Why.

You guys should just wait till Monday next week to see how the Naira will appreciate further against the Dollar.

Seriously election play a major role in Naira depreciation.

It was announced on Wednesday that BDC operator's should sell most or all their currency before election day by CBN.

I think this is a welcome development.

Exchange Rate for Dollar-Naira, FRFRIDAY 27th March 2015

CBN $1 N197.00

OFFICIAL RATE $1 N199.05

BDC $1 N221.00

PARALLEL RATE $1 N222.00.

Location Matters For BDC Market & Parallel Market

Source:http://nairausd..com/

As the Central Bank of Nigeria (CBN) struggles to meet demand for dollars in the foreign exchange market, its governor, Mr. Godwin Emefiele, has taken the well-worn path of his predecessors by declaring that the currency for transacting business in the country remains the naira, warning that it is illegal to carry out transactions using the US dollar.


He said the CBN would in due course go after those who violate the policy.

Addressing journalists in Abuja after the two-day meeting of the Monetary Policy Committee (MPC), he said: “We will be looking at areas where people are making demands for foreign currency; people who are landlords who are asking for rent in dollars; schools that are asking for school fees in dollars or transacting business in dollars.”

He stressed that it is illegal in Nigeria to transact business in foreign currency and advised those involved in the practice to desist from doing so, because the CBN would soon come after them.

Also, the CBN yesterday decided to retain the monetary policy rate (MPR), otherwise known as the interest rate, at 13 per cent as well as banks’ cash reserve requirement (CRR) on private sector deposits at 20 per cent and that of the public sector deposits also at 75 per cent.

Emefiele, who read the committee’s communiqué, said all 11 members unanimously voted to retain the rate, adding that its previous decisions needed time for their effects to fully permeate the economy.

However, he expressed the MPC’s concern over the phenomenon of currency substitution and partial dollarisation in the economy, a development, which he said might have significantly fuelled the high demand for foreign exchange.

Emefiele was emphatic that the naira remained the currency of transactions in the economy and advised commercial banks to take all possible measures to address this development.

He said the committee had also expressed satisfaction with the impact of the decisions taken to harmonise the foreign exchange market.

“As a consequence of those actions, the interbank exchange rate has stabilised after an initial adjustment. The committee, however, expressed concern about the wide divergence between the interbank and the bureau-de-change exchange rates, which provides an avenue for arbitrage and speculative activities in the market.

“The committee also expressed concern about the outlook for growth, which had moderated partly due to the effects of low oil prices, naira exchange rate depreciation, and election-related concerns,” he said.

Emefiele, nonetheless, said the CBN remained optimistic that the situation would improve once the elections are successfully conducted with the expected improvement in business confidence.

While refuting rumours that the central bank had prioritised foreign exchange sales to foreign investors, the CBN governor said: “There’s nothing like prioritising sale to foreign investors. CBN sells foreign exchange through intervention on a daily basis or as it deems it fit.

“It sells foreign exchange to people who have effective demand. But what we have done consistently is to make sure that we abide by our promise to foreign investors that there is free entry and free exit out of the (Nigerian) market.

“That if they do decide to come in and invest in Nigeria and whenever they do decide that they want to exit the market, that they should be unhindered.

“There should be unhindered access for them for foreign exchange so they can exit when they do decide to exit.

We’ve tried as much as possible and I know that the demand coming from foreign investors has been met.

But I don’t really think that amounts to prioritisation. It’s just that we want to make sure that they are happy and because of the promise that was made at the time they invested in the country.”

On what the CBN was doing to remedy the concerns raised by JP Morgan over liquidity in the market, he said: “Let me continue to repeat myself that the CBN remains committed to remaining on the JP Morgan index.

“The JP Morgan team has already told us what we need to do, and that is that we need to deepen the market, increase the level of transparency and liquidity in the market.

“We do not have to meet with them or talk with them once they’ve made clear the criteria that they want us to meet.

We’ve done a lot and there’s been a lot of liquidity that’s been injected and we believe the market is sufficiently deep today to the extent that all the demand is met in the market.

“In the area of transparency, part of the transparency is the closure of the official foreign exchange market.

We did that to remove the rent seeking activities or opportunities for people who wanted to take advantage of the vulnerabilities in the foreign exchange market.

“We took that bold move and I am happy that it was a statement that showed we are transparent in our dealings.

All foreign exchange transactions that are transacted today within the interbank market are recorded on the Reuters terminal for the world to see, and we believe that with this action that has been taken, the JP Morgan team will in due course remove Nigeria from the watch list.”

Commenting further on the activities of bureau de change operators and outlook for the naira, he said: “I’ll like to say that that remains a shallow market compared to the interbank market in terms of percentage in the foreign exchange market.

“But it is in my view very insignificant and that market mainly deals in translations that are not documented. For that reason, we would not be looking at the outlook for the naira by looking at the bureau de change rate.

But what is the rate at the interbank market.

Emefiele stated that the country’s foreign reserves currently stood at $30 billion, and “given the pressures and vulnerabilities that we have seen in the last couple of weeks, I think it is still a good level of reserves and can support at least close to about five to six months of imports and we believe this is still good enough to support businesses and the Nigerian economy”.

Source:http://nairausd..com/

Exchange Rate for Dollar-Naira, THURSDAY 26th March 2015

CBN $1 N197.00

OFFICIAL RATE $1 N199.05

BDC $1 N223.00

PARALLEL RATE $1 N223.50.



Location Matters For BDC Market & Parallel Market

Source:http://nairausd..com/

This one funny wela

Kai we don sufa mehn

I wouldn't lie Tv station should include Aisha Buhari in their advert.

While Patience Jonathan will be a role model for women rights.

Believe me.

500 to me this is pure exaggeration.

Be sincere

Produce proof

olaboy001:
GEJ wants to spend ten years in the presidency, are we owing his ancestors? 😳😳😳""

Bro but it not his fault .

It the constitution for you.

Let me ask you if you are in his shoes what will you do.

Remember your church mind.

Am waiting for your reply.

TheOtherview:
Some would resort to setting up blogs, using their newly acquired skills - cloning FB pages; producing pretty convincing photoshop images; spamming the blogosphere with meaningless rants - to blackmail their out-of-favour principals. Since they know where the bodies are buried, they would conclude that there is no better way to achieve ephemeral gains than using proof of wrong-doing to exact monetary favours. Others would of course resort to cyber crime.
I am afraid such would be the lot of the e-thugs who dare to walk the path of ignominy, in pursuit of illusory rewards.

Belive me, the reasonable once will make use of their lives while the foolish once will still look for the next prey.

Let this election come and go.

We pray for a right leader.

Nigerian please in the name of Almighty God don't castigate violence .

Remember notting is more precious than life.

Love live and laugh

Thanks

Odogwuskido:
Nice development

We all should be happy about this because it's for us.

By Ngozi Okonjo-Iweala


Ladies and gentlemen. I am excited to welcome you all to this event and I thank you for making out time to be here to mark this great moment with us. Some of you have travelled long distances to be here today and we are indeed, deeply grateful to you for that.


This is a very exciting day because it marks the momentous launch of the Development Bank of Nigeria (DBN), an initiative of President Goodluck Ebele Jonathan’s Administration, which is set to usher in a new era of robust private-sector led financing for our small businesses.

It is well known that lack of access to finance and the high cost of finance are a major deterrent to the growth and development of Micro, Small and Medium Sized Enterprises (MSMEs) in Nigeria.

This launch of DBN today is a result of Mr. President and Mr. Vice President’s concerted attempts to help the SME sector.

In 2013, Mr. Vice President set up a working group under the National Council on Privatization (NCP), this working group came up with the recommendation, in addition to several other recommendations, that Nigeria needs a strong Development Finance Institution that will further open up access to finance for our micro, small and medium enterprises.

All over the world, development banks are set up to provide long-term finance (debt or equity) which commercial banks and the capital market cannot, or will not provide.

Aside the development of small businesses and the encouragement of entrepreneurial activity, the broader aim of Development banks include the redistribution of income between social classes, diversification of industry, and of course, job creation.

As far as achieving these objectives are concerned, development banks have recorded mixed results but studies have also identified specific traits and characteristics that have allowed development banks to succeed.

These traits include: having a clear mandate, being held to high standards of transparency, having adequate initial capitalization, and having strong internal governance such as an independent board, amongst others.

We considered all these factors in setting up our development bank and I can assure you that our DBN not only took the best practices from global success stories, but improved on them.

Mr President, Distinguished Ladies and Gentlemen, I am pleased to say our DBN is one of a kind and has set a standard that will be replicated in years to come. This is confirmed by the quality of international institutions that are providing capital and participating in the DBN.

There is no other DFI launched in recent times that has attracted such interest.

All through the journey to set up the bank we have been supported by our various development partners.

I wish to use this opportunity to extend our profound gratitude and appreciation for the strong support that we have received from the DFID represented here today by , World Bank represented here today by , African Development Bank represented today by, Agence Française de Développement (AFD) represented by and KfW (Germany), ably represented here today by. We thank you all so much for standing with us, supporting us and also partnering with us on this project that will re-ignite growth of the most critical segment of our economy.

We would also like to thank our internal project teams from the Ministry of Finance, BPE, CBN, Budget Office, Commercial Banks and of course, our advisors, PricewaterhouseCoopers who all worked very hard to get us a Development Finance Institution that Nigerians, and indeed the rest of the world would be proud of.

I share in the President’s belief that the most valuable change we can make as a government is ensuring that we break this jinx so that small businesses can actually have a full-fledged institution that will provide this access.

Not just access, but access in a manner that does not stifle them but instead grows them; access that gives them space to afford a decent life while nursing their businesses; access in a manner that will not take substantial portions of their profits away from them; access to the sort of finance that empowers them and their communities.

Simply put, access to credit means financial inclusion, financial inclusion helps convert people’s dreams to reality.

This is the reason why we are here today, this is the reason why the President is also here, to launch the flagship bank that gives all Nigerians a chance not only to dream….but to also see that dream become reality!

Ladies and Gentlemen, as we await the launch by the President, I will like to say that our collective determination to see this vision succeed is evidence of our belief that the greatest wealth of this country is in the ingenuity of our people, the creativity of our youths, the industry of our women, the resilience of our men and the dynamism of the average Nigerian citizen who is out there, trying to take charge of his or her destiny.

I thank you all.

Dr. Okonjo-Iweala, Coordinating Minister for the Economy and Minister of Finance, delivered the address above at the launch of Development Bank of Nigeria (DBN) at the Presidential Villa, Abuja on March 23, 2015.

Source:http://nairausd..com/

Exchange Rate for Dollar-Naira, WEDNESDAY 25th March 2015

CBN $1 N197.00

OFFICIAL RATE $1 N199.05

BDC $1 N223.00

PARALLEL RATE $1 N223.50.

Location Matters For BDC Market & Parallel Market

Source:http://nairausd..com/

mibas:
I don't disagree with BDC travel research what i done is just giving my experience.

Ok . That good.

Exchange Rate for Dollar-Naira, TUESDAY 24th March 2015

CBN $1 N197.00

OFFICIAL RATE $1 N199.05

BDC $1 N223.50

PARALLEL RATE $1 N224.00.

Location Matters For BDC Market & Parallel Market

Source:http://nairausd..com/

mibas:
I have been there in 2013, and i was spending almost $600 a day while. Even Angola's visa is almost like US's visa

I have not been there before but that personal experience in which it can be disputed.

Please mibas can you present a better proof if you can't agree with BDC travel.

Sorry if my suggestion offended your view.

mibas:
Luanda-Angola is most expensive city ever seen even morethan Caracas.

If you can produce proof, you are free.

But I have hard of such.

pietre:
u soo on point.

Statement like this will encourage me to do more.

Thanks bro, I feel honoured.

Exchange Rate For Dollar-Naira On MONDAY 23th March 2015

CBN $1 N197.00

OFFICIAL $1 N199.05

BDC $1 N223.50

PARALLEL $1 N224.00

Location of BDC AND PARALLEL Is Different In Area

Source=http://nairausd..com/