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Nairaland Forum / Nairaland / General / Business / Forex Scarcity Persists As CBN Resumes Intervention (22393 Views)
Banks Push Out Dirty, Mutilated Notes As New Naira Scarcity Persists / Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs / Dollar Sells For N445 As Forex Scarcity Persists (2) (3) (4)
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Re: Forex Scarcity Persists As CBN Resumes Intervention by patrickcollins: 8:25pm On Jun 26, 2023 |
SendoSendal:There is no market to dictate anything, it will continue to fall and as it falls more people are thrown Into poverty |
Re: Forex Scarcity Persists As CBN Resumes Intervention by onlinediva: 8:33pm On Jun 26, 2023 |
Broadmind: You go cash out when e reach 3N |
Re: Forex Scarcity Persists As CBN Resumes Intervention by iyke2frankeze: 8:46pm On Jun 26, 2023 |
Tinubu actually continued where Buhari stopped as he promised. Everybody knows that the whole decision Tinubu took was taken at the wrong time and time will tell. Nigeria might not recover from the effect anytime soon. |
Re: Forex Scarcity Persists As CBN Resumes Intervention by PoliteActivist: 8:48pm On Jun 26, 2023 |
masseratti: This is the most ridiculous thing written here yet. There are countless apps you can use to transfer dollars instantly from US to Nigeria! |
Re: Forex Scarcity Persists As CBN Resumes Intervention by Gilgil: 8:50pm On Jun 26, 2023 |
All these things you are saying is wishful thinking if the govt doesnt provide enabling environment for businesses to thrive. How do you expect all these your dreams to work when there is 1. Poor electricity supply and expensive 2. Poor or non-existentrail track, water ways, roads and air freight = Logistics to move goods 3. High insecurity for farmers to ven produxe or people and good to even move 4. Multiple taxation on small business from local govt, state govt, fed govt, Omoniile etc. 5. Injustce everywhere whereby you cant even be assured of fair hearing and the evil doers including security personnel know they can get away with crime, 6. Poor healthcare to improve workers productivity 7. Poor utilities that drive industrialization like water supply, gaa supply etc 8. Nepotism that kills merit based excellence 9. Overpaid politicians who do absolutely nothing byt enrich themeselves with zero care for the citizens We can go on and on on what the govt should have done that would make all these your dreams come through Reference: 1 Like |
Re: Forex Scarcity Persists As CBN Resumes Intervention by Fujiyama: 8:51pm On Jun 26, 2023 |
oluwaseyi0: ^^^ Since we are doing root cause analysis, why are we not producing much? Your reference to an 'opposition' is strange. What exactly do you mean? |
Re: Forex Scarcity Persists As CBN Resumes Intervention by Kukutenla: 8:58pm On Jun 26, 2023 |
Not even one zombie on fp Not one |
Re: Forex Scarcity Persists As CBN Resumes Intervention by baralatie(m): 9:01pm On Jun 26, 2023 |
patrickcollins:Well It does not have to fall they way you put itππ It will cost govt to very disciplined but it can sustainably get itself in a stable dollar regime but it require serious work on the part of govtπ€·π€· |
Re: Forex Scarcity Persists As CBN Resumes Intervention by masseratti: 9:02pm On Jun 26, 2023 |
PoliteActivist:at what rates? And charges, stop demonstrating your lack of knowledge in financial sector online.. If you can not understand the simple thing I said, ask so that it will be clear.. Most of if not your apps don't belong to the international swift system, they do their monetary transactions for you through a commercial banks.. One in their country other on the receiving countries.. They use 3rd parties.. Nig gov can limit amount of dollar cash been withdrawn on the counter and encourage FX transfer on the counter or bank app at rate cheaper than on the street. If you flood the street with dollars, people will simply buy and keep.. Which in turns makes it's scares.. If you have any legitimate transaction, go to the bank and transfer or use your atm card abroad for your transactions. Also the government need to sell the naira more to the IOCs or other companies Government get dollars from.. Find one or two reason to tax them for it.. It's our legal tender.. Oga I use to work in the sector I know the game well.. So please think before goy type next time.. Not everyone online is a juve 2 Likes |
Re: Forex Scarcity Persists As CBN Resumes Intervention by baralatie(m): 9:04pm On Jun 26, 2023 |
masseratti:Does e transact remove supply and demand constraints? |
Re: Forex Scarcity Persists As CBN Resumes Intervention by abibun: 9:05pm On Jun 26, 2023 |
Is it not same dollar they will you to buy the refined products SendoSendal: |
Re: Forex Scarcity Persists As CBN Resumes Intervention by Incredible128: 9:05pm On Jun 26, 2023 |
Why didn't Seun post this? |
Re: Forex Scarcity Persists As CBN Resumes Intervention by baralatie(m): 9:08pm On Jun 26, 2023 |
Incredible128:Leave oga seun o!πππ Senior bris is working on flying highβοΈπ€·π€·π€· |
Re: Forex Scarcity Persists As CBN Resumes Intervention by miceroms: 9:18pm On Jun 26, 2023 |
This is absurd. That new CBN acting governor should be removed immediately. The parallel rate were driven by supply. They ought to have fixed the supply issues and the dollar would have settled with the CBN rate. |
Re: Forex Scarcity Persists As CBN Resumes Intervention by lexy2014: 9:19pm On Jun 26, 2023 |
baralatie: how then is it working? |
Re: Forex Scarcity Persists As CBN Resumes Intervention by lexy2014: 9:21pm On Jun 26, 2023 |
Brendaniel: Renewed hope This scarcity will favour me and family Tinubu has hit (smashed) the ground running |
Re: Forex Scarcity Persists As CBN Resumes Intervention by lexy2014: 9:21pm On Jun 26, 2023 |
ambale: Renewed hope This scarcity will favour me and family Tinubu has hit (smashed) the ground running |
Re: Forex Scarcity Persists As CBN Resumes Intervention by Incredible128: 9:26pm On Jun 26, 2023 |
I just thought since he posts appreciation, it'd be appropriate if he posts depreciation too so everything would balance . Although on a serious note, I'm not happy with what's going on on the country presently as suffering has skyrocketed, the little middle class the country was managing is being wiped off with each passing day leaving everyone poor. May God help us baralatie: |
Re: Forex Scarcity Persists As CBN Resumes Intervention by waveman2: 9:27pm On Jun 26, 2023 |
He took important decision s although without plan has it would have been done gradually but tinubu behave as if he had score to settle with the nigerian people. iyke2frankeze: |
Re: Forex Scarcity Persists As CBN Resumes Intervention by HNICEARTH: 9:32pm On Jun 26, 2023 |
Tinubunomics is just vibes and propaganda. Somebody wey say "na statistics we go chop?" |
Re: Forex Scarcity Persists As CBN Resumes Intervention by baralatie(m): 9:32pm On Jun 26, 2023 |
lexy2014:It is working because supply is limited and demand is unrestricted therefore dollar willπππ |
Re: Forex Scarcity Persists As CBN Resumes Intervention by baralatie(m): 9:36pm On Jun 26, 2023 |
waveman2:He has no chooseπππ It is either he makes these decisions or else βοΈβοΈβοΈβοΈ They are part of the surfac of problems plaguing his govt. There are other things that he need to d Al withπ€π€π€ As the man is trying to solve one another one pops up because the root cause we're left unattended toπ€·π€·π€·π€· |
Re: Forex Scarcity Persists As CBN Resumes Intervention by Eriokanmi: 9:40pm On Jun 26, 2023 |
PUSSYHOE:It will never work. USD rate today scared me. Those in government today are criminals. They are only using the medium to transfer their stuck dollars overseas |
Re: Forex Scarcity Persists As CBN Resumes Intervention by ambale(m): 9:58pm On Jun 26, 2023 |
baralatie: Is peoples purchasing power not part of what strengthens an economy If there is high purchasing power, wont we be able to buy Nigeria made goods? Abi u sef just wan talk |
Re: Forex Scarcity Persists As CBN Resumes Intervention by senatordave1(m): 10:00pm On Jun 26, 2023 |
mrvitalis:Tinubu better pass obi |
Re: Forex Scarcity Persists As CBN Resumes Intervention by baralatie(m): 10:02pm On Jun 26, 2023 |
ππππ π€·π€·π€· |
Re: Forex Scarcity Persists As CBN Resumes Intervention by hush15: 10:20pm On Jun 26, 2023 |
PUSSYHOE: The reason it will never work is very simple. Lack of sincerity and transparency, not to mention accountability of the very government that brought the policy and executed the same policy. Simply put, the very dishonesty of the government that brought this government into power who is seriously compromised. They can't speak truth to themselves and they would never admit their wrong but be shouting let the poor breathe when their actions says otherwise. |
Re: Forex Scarcity Persists As CBN Resumes Intervention by hush15: 10:28pm On Jun 26, 2023 |
senatordave1: Isn't it obvious, the economy is still trending downwards, only smart people can bring such results. So lets us continue to equate deception and lies with being smart and intelligent. That man doesnt understand jack about Nigeria and Nigerians. If he did, his approach will be different and his strategies will suggest otherwise but this is just a man who is happy he is rewarded for his years of mischieves and compromise and just exercising his authority based on lies. A house built on pack of lies and deceits will just continue to fail not matter the good ideas. What culture does his character bring to governance? Nothing because he himself is shrouded in secrecy. |
Re: Forex Scarcity Persists As CBN Resumes Intervention by masseratti: 10:33pm On Jun 26, 2023 |
baralatie:in a way.. A very good way.. It will.. Dollar cash on the street will never stop for hoarders.. If its transfers, they have no reason to hoard, it will be left strictly for genuine business transaction, the pressure on the dollar will go down, if we continue to have this useless currency traders in the street.. Our currency will never be stable, have you seen any black market in a stable develop country? Ours is even worse, what goes up hardly comes down. The restrictions should stay, but it should be very easy to transfer dollar, simple. |
Re: Forex Scarcity Persists As CBN Resumes Intervention by shimolv: 10:50pm On Jun 26, 2023 |
Re: Forex Scarcity Persists As CBN Resumes Intervention by yakson123: 11:16pm On Jun 26, 2023 |
shortgun:God will continue to bless you You have spoken my mind |
Re: Forex Scarcity Persists As CBN Resumes Intervention by PoliteActivist: 12:00am On Jun 27, 2023 |
masseratti: You OBVIOUSLY don't know what you are talking about. At what rates? Asking this question tells me you know NOTHING about this. My man, you send $1, the receiver in Nigeria receives exactly $1. The transaction fees are minimal - $1 per $100, not to exceed a small set amount. And you obviously don't know how forex works. No one hoards dollars more than Chinese govt, so what? There is more than enough available. The thing is to bring it into Nigeria, not preventing people from hoarding dollars. You can make Naira scarce - like Emefiele tried to do. That will definitely dramatically increase the exchange rate of the Naira - but it will also likely lead to serious recession and eventually lowering of wages! |
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