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Nairaland Forum / Nairaland / General / Business / CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate (60275 Views)
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Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by JaskanFactor: 1:11pm On Jun 14, 2023 |
translation they want to devalue the naira, straight on the back of removing petrol subsidy. This may be bad time to be keeping lots of naira in the bank, better change your money to forex. 6 Likes 2 Shares |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by VeeVeeMyLuv(m): 1:13pm On Jun 14, 2023 |
Lyrics269:it will bring compound interest hardship This one na "inescapable" dole. Sure banker hardship 1 Like |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by TheGoodJoe(m): 1:13pm On Jun 14, 2023 |
Egypt has incorporated social welfare and development programs aimed at improving the standard of living in its poorest governorates and providing a permanent path out of poverty for future generations. After Egypt floated its currency, it did the above and things worked for the better. If the Government is not investing in the poorest set of people massively, the gains of a floated currency will hardly be felt by locals. 12 Likes 3 Shares |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by itsene: 1:13pm On Jun 14, 2023 |
Tntsi:Renewed hope, my friend. Out of 4 major contestants he came first, what's the problem? 6 Likes 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by shegra58: 1:14pm On Jun 14, 2023 |
Tntsi:ómo Ibo see as you dey foam for mouth 11 Likes 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by dondo83(m): 1:14pm On Jun 14, 2023 |
Redoil: You’re not making sense stop spamming every message. You asked if people understood economics and your own understanding is this rubbish you wrote ? Tinubu’s dollar will get to 2000 lol nonsense 3 Likes |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by gragz8701: 1:14pm On Jun 14, 2023 |
Banks will not just be in the service of mostly cash storage and exchange/transfer, but will also be in the business of sourcing for FX globally and selling to the Nigerian market. Since we have many banks, this will introduce competition which is good for our economy. The major challenge will be carter price fixing amongst the banks and the CBN should be prepared to fight that. 7 Likes 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by treatise: 1:14pm On Jun 14, 2023 |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by Nfora: 1:15pm On Jun 14, 2023 |
Good, if true. The forex arbitrage would disappear automatically. 8 Likes 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by JuanDeDios: 1:15pm On Jun 14, 2023 |
Tntsi:Floating the naira will positively impact the common man. 4 Likes 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by COMPAQ(m): 1:16pm On Jun 14, 2023 |
Redoil: You that you know, kindly educate us of the implications instead of asking everybody the same question. 4 Likes |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by alobright17(m): 1:18pm On Jun 14, 2023 |
Tntsi: So you’ll remain like this for 4yrs the burden is really ranting and wailing burden is on you . 6 Likes 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by occfx: 1:18pm On Jun 14, 2023 |
Globad: I don't want to rejoice yet because, APC has shown me shege. Let's hope all these works... Because aboki will fight back and corruption will retaliate. Devil don't want peace 6 Likes 2 Shares |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by damkin24(m): 1:18pm On Jun 14, 2023 |
Tntsi:Who are the people you are talking about? Biafrans or Jews? 7 Likes 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by windvane(m): 1:20pm On Jun 14, 2023 |
Tntsi:how old are you?Do you know Jerry Rawlings of Ghana?go and read how he got into power and changed the life of Ghana...most of you are just children born out of hate,your parents never showed you love,so it is very different you to know what it feels like 11 Likes 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by PARADIZEPRIEST: 1:21pm On Jun 14, 2023 |
I pray t works well for me the hopes it works and those that believe 4 Likes |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by bluefilm: 1:22pm On Jun 14, 2023 |
Tntsi: Of course. All these ones na sponsored post. |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by BloomingDale(f): 1:22pm On Jun 14, 2023 |
Jd10k: Peter Obi came out with a third class in philosophy. What does he know? 8 Likes 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by Nasir123(m): 1:22pm On Jun 14, 2023 |
TheGoodJoe: This is true. I just want to believe they know what they're doing. Probably some kind of fx managerial support/directives from the CBN. 3 Likes |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by occfx: 1:24pm On Jun 14, 2023 |
OfoIgbo: LOL, Peter Obi changed the narratives... They have to work hard to please goodness. Darkness is no longer an option in Nigeria. I want the court proceedings to continue it will keep tinubu in check. Nonsense and ingredients 2 Likes 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by PARADIZEPRIEST: 1:25pm On Jun 14, 2023 |
PARADIZEPRIEST:AFTERRALL DANGOTE REFINERY THAT WAS BUILT WITH NIGERIA RESIURCES WILL REFINE CRUDE FOR WEST AFRICAN COUNTRIES AND ATTRACT FOREX INTO NIGERIA BANK VIA DOMESTIC FREE TRADE ZONE. Hmmmmm. naija youth,una brain needs serious economics updates, make una dey read ooo,no be only skelewu or asake muziks una go dey listen to. |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by tinsel: 1:25pm On Jun 14, 2023 |
Globad:Don't mind the idiots 4 Likes 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by mipeesoft(m): 1:26pm On Jun 14, 2023 |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by tinsel: 1:26pm On Jun 14, 2023 |
Redoil:Tell us since you know well. 2 Likes |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by Poske95(m): 1:29pm On Jun 14, 2023 |
Lyrics269: Do you know one reason why the education system is poor here..... Students vare taught by teachers who inturn help them do expo...... Tinubu may wanna try, question is, is that the way the Nigerian people want it....?! Think 1 Like |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by SLOVFO(m): 1:31pm On Jun 14, 2023 |
Globad: Really? But read somewhere in the article that the rate could go as high as N800 by the end of today? 1 Like |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by Nfora: 1:32pm On Jun 14, 2023 |
Redoil: It's a 50/50 scenario. Speculators too, are risk averse. There is also the risk to speculators, that the Naira could appreciate to say 590, instead of depreciating to 2000. So, it is not very hoarder that will refuse to off load. And that's what makes the free market interesting. The Naira will automatically find its level, with or with out hoarding. The value of the Naira is not something that should be cosmetic. The more our exports over imports, the more the value of the Naira. No need to be scared of the Dollar exchanging for N2000! Africa Union should consider a regional currency for international trade among member countries. This would reduce the unnecessary craze for the dollars, that is pushing its value up. 8 Likes 3 Shares |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by abufadllullah(m): 1:32pm On Jun 14, 2023 |
Tntsi:When are you going to stop displaying your bitterness publicly? It's sad and pathetic! 1 Like 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by Teddy0147(m): 1:32pm On Jun 14, 2023 |
Tntsi: Wow so bitter 1 Like 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by abuhusna1: 1:36pm On Jun 14, 2023 |
Tntsi:You can cry from now till tomorrow Tinubu is gonna be your president for 8 years. Do you think obi has the capacity to rule Nigeria and take us to greater height. Compare his administration as governor to Tinubu in Lagos. Low iq always supports low iq reason you are supporting a third to become first 2 Likes 1 Share |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by Barywhyte(m): 1:38pm On Jun 14, 2023 |
Tntsi: They are deceivers. Nothing can help naira stabilize without manufacturing, production of goods and services in Nigeria. Oh manufacturing in a country where there is no electricity in 2023 😲 Jobs jobs jobs jobs are the only thing that can help Naira. And btw, I agree with you assertion! Spot on! 3 Likes |
Re: CBN Floats Naira - Allows Banks To Trade FOREX Freely At Any Rate by Musaspp(m): 1:39pm On Jun 14, 2023 |
Is your "baba tinubu" not one of the worms Lyrics269: 3 Likes |
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