₦airaland Forum

Exchange Rate Of Dollar To Naira,11th Friday December 2015

http://www.nairausd.com/?m=1

Exchange Rate for B Pound-Naira, 11th Friday December 2015

http://www.nairausd.com/?m=1

By Myra P. Saefong

Crude-oil prices have lost more than half their value since their peak in June 2014

Here’s a detailed look at the key reasons behind crude-oil prices’ recent descent:



1.OPEC
To be sure, OPEC has played an oversize part in oil’s price plunge.

Prices have fallen every day since the cartel on Friday decided to continue pumping oil at its current output level, which essentially legitimizes production of roughly 31.5 million barrels a day, which was running above OPEC output ceiling of 30 million barrels a day.

On Thursday, a report from OPEC showed an increase in its November production to 31.695 million barrels a day, the largest monthly level in three years. But OPEC also cuts its forecast for non-OPEC production in 2016, citing the impact of low oil prices and falling investments in the oil industry.

“The low prices may force enough private oil companies out of business, which then will help OPEC,” said Charles Perry, chief executive officer of energy-consulting firm Perry Management. Still, he believes that “OPEC is immediately hurt the most by this overproduction of oil,” as most members’ economies depend on oil income.

2.U.S. shale output
U.S. oil production has started to buckle under the pressure of low prices, but it hasn’t shown a steady descent.

Domestic shale-oil output is expected to fall to 4.861 million barrels a day in January, down 116,000 from December, according to a report from Energy Information Administration released earlier this week.

Total U.S. oil production fell 38,000 barrels to 9.164 million barrels a day for the week ended Dec. 4, according to the EIA, but that is still above the year-ago level of 9.118 million.

Based on current drilling costs, Perry estimates that a break-even price for shale-oil production would be at “something less than $40 a barrel because there is still a lot of drilling going on at this price.”

The “’drop dead’ price when it gets low enough to stop all significant drilling is probably down at $25 to $30 a barrel,” he said. Even then, drilling will merely “taper off as it approaches the absolute break-even.”

3.Global supplies
The International Energy Agency said that the world’s stockpile of oil sits at a record 3 billion barrels and it has been growing.

“Demand growth has risen to a five-year high of nearly 2 [million barrels a day]…but gains in demand have been outpaced by vigorous production from OPEC and resilient non-OPEC

4.The dollar
A rise in the U.S. dollar and expectations for further strength as the Federal Reserve meeting approaches also have played their part in oil’s drop.

Since OPEC’s decision back in 2014 to keep, its production unchanged, the decline in oil prices “was more a result of a strengthening U.S. dollar than any calls around an ‘oil glut’,” Carl Larry, Frost & Sullivan’s director of oil & gas, said in a statement.

“OPEC countries are producing a barrel of crude that is losing value because it’s based in [U.S. dollars],” said Larry.

Source:http://www.nairausd.com/2015/12/4-reasons-crude-oil-prices-are-in-nasty.html?m=1

Twitter@naira usd

Barki you are just too right.

Keep the good work

madenigga:
that Edo tout told u he is abroad nd u believed?

I have no option

madenigga:
see mumu

Why bro

Pidggin:
Why the alarm? What with will you do when it gets to N300/dollar, because it will

Hmmm

SillyeRabbit:
How much is western union now ?

Sorry I don't know about it

Fp

gists:
And What is my business with black market?
If you have genuine need for forex, there are legal ways to do that and you will get the real official rate

For your information l give information based on the 4 market rates (CBN, OFFICIAL, BDC & PARALLEL)use in the country.

What did you mean by legal way.

Please explain

Emekamex:
Sai body odour

Hmmm Nigerians again

modath:
He didn't inherit at 160,it was way way lower..

Please do your findings, he came in @ around 128-130,


As long as Crude oil price refuses to leave the dungeon, & we operate a mono export economy.....


& all you people about to rejoice, chill, you don't touch USD, anyone that does, irrespective of political leaning will not see this as a cause to feel "vindicated " & joyful for not voting Dear Bubu..

Hmmm nice sis

gists:
That must be your Biafran dollar.
My Nigerian Naira has selling below N200/$
Even that is as a result of the last clueless administration who inherited the dollar at N160 but left it at over N200/$
Other than the civil war, GEJ admin is the worst thing to happen to this country in recent memory

Funny bro. You are displaying OFFICIAL RATE.

What l typed is PARALLEL RATE A.K.A BLACK MARKET.

Got it you know. ....

Exchange Rate for B Pound-Naira, 10th Thursay December 2015

http://www.nairausd.com/2015/12/exchange-rate-for-b-pound-naira-10th.html?m=1

Extom:
So you actually think Emefiele is calling all the shots?
Has it occurred to you that the President is running a semi-autocratic governance system, stifling the economic funds, and almost driving the economy under?

Thanks for your explanation

googlepikin:
I don't understand why Nigerians decided to vote for a certificate less man as a President. And expecting to develop like Malaysia and Singapore. You can't buy a bushrat and expect it to act like a dog.

What did you expect

It seems you were not in Nigeria before election if not you wouldn't be typing this.

APC use sweet tongue to get Nigerians vote

undercurrent:
Off course. I'd like to read your opinion.

Partially supported. Bubu have not yet present is economic work

EasternLeopard:
Nigerians never consulted God's view before voting Buhari

Give us a King, the Israelites shouted

Hmmmmm

undercurrent:
This CBN Governor should be sacked.

You cant stifle businesses and claim to be propping up the economy.

Our currency is currently sky high against the dollar.

He seems to be confused like his boss.

Your opinion bro

mulattoclaro:
bro they need not to bother cos I send them enough cash.

How did you know that they have a comfortable life as you are comfortable over there

https://www.nairaland.com/2792234/cbn-allays-fears-dollar-scarcity

CBN Allays Fears Of Dollar Scarcity

By BusinessNews Staff

The Central Bank of Nigeria (CBN) on Monday maintained that it has enough dollar cash to meet demand by operators of Bureau De Change (BDCs) who sell to retail end-users for eligible transactions.

Director, Communications, CBN, Mr. Ibrahim Muazu, who said this in a telephone chat with THISDAY on Monday, said the naira remains stable.

While the naira closed at N197/$1 at the official market, was sold at N246/$1 at some parallel market points at Marina, Lagos in the evening.

But responding to a question on insinuation that there was scarcity of the greenback at the BDC segment of the market,Muazu explained that only operators that render appropriate returns would be allowed to buy forex from the central bank’s auction.

The CBN last week suspended about 1,600 BDC operators from participating in its forex auction. The regulator’s hammer fell on the currency dealers over their failure to render appropriate returns on the sale of the greenback. The CBN recently warned banks and the forex dealers to ensure they render effective returns on dollars purchased from its official window or they would be punished. Most of those affected were firms that allegedly gave false bank verification numbers of those they said purchased forex from them.

However, Muazu said: “Some of them were not able to buy from the CBN because they did not rendered appropriate returns. If they comply, by giving us appropriate BVNs of those they sold dollars to for proper verification, then they would be sold to. Only those that render appropriate returns would be attended to.

“All genuine demands are met and the market has been stable since last month,” he added.

A BDC operator, who spoke to THISDAY on condition ofannonymity however said BDCs that were fortunate to purchase the greenback have been hoarding it, thereby creating room for scarcity in the market.

A CBN circular dated November 25, 2015, had stated: “It has been observed that a number of the BDCs purchased foreign exchange from the CBN without rendering returns on theirutilisation. Consequently, all BDCs must comply with the following pre-conditions before accessing forex from the CBN window: Rendition of returns on previous week purchases through e-FASS; and physical submission of returns on utilisation.

“In addition, all BDCs that purchased forex on November 25 without submitting their returns for the previous week ending November 20 should return the total amount purchased for the week to the bank not later than November 26, 2015, failing which appropriate sanction will be imposed.”


Source:http://www.nairausd.com/2015/12/cbn-allays-fears-of-dollar-scarcity.html?m=1

Twitter@nairausd

EasternLeopard:
If you were in the days of King Saul, you will have understood better

I don't understand, please explain

mulattoclaro:
what's my business with nigeria? Who nigeria don help? I'll keep sending more dollars to my people in benin city cos as it is the country isn't moving forward.

If l may ask. Did you think your people back here will be happy about the the situation of Nigeria.

Think bro.

You know........

EasternLeopard:
Your prayer will only protect you and not Nigeria

Nigerians must suffer for knowing the truth and still going against it.

This is the problem with human race.

Stop this mentality of just my own but the progress of the community at large.

That's one secret of the developed world.

You know. ... .

mulattoclaro:
Pls let it continue falling. I'll have more money to send to Nigeria.

Are you making mockery of Nigeria

EasternLeopard:
Thank God I voted Jonathan

This is not longer the part of l voted Jonathan or Buhari.

Our country need serious divine intervention

What is Naira turning to.
What is PMB doing about this. May God help us.

Exchange Rate Of Dollar To Naira,10th Thursday December 2015

http://www.nairausd.com/2015/12/exchange-rate-of-dollar-to-naira10th.html?m=1

Twitter@nairausd

saintandsinnerz:
The Gypsy King will only fight Wladmir Klithscho in a rematch not a nobody. IBF can F*** off with their title. I really don't understand all these fuss around Fury. Is it because he is homophobic? Everybody in Britain are now demanding for his head just for speaking up against homosexuality, abortion and Peadophilia. From launching a petition against his nomination for the BBC SPOTY award to the Greater Manchester Police (GMP) investigating him for hate crime and exposing homosexuals to hate attacks as well as the media laying a siege in his house just because he had an opinion against what he saw as abnormalities. Really, it is now true that freedom of speech is just a ruse

True talk.

Hypocrite everywhere, they preach what they want you to hear but hate what you want to speak against their view.

Were is the freedom of speech

irunooboo:
South east straight. They should be taken to onitsha to fight the IPOB youths who believes they have monopoly of violence

Your foolishness has no bound

Hmmm what can I say