Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,165,298 members, 7,860,730 topics. Date: Friday, 14 June 2024 at 03:03 PM |
Nairaland Forum / Nairaland / General / Business / How Much Did You Exchange The Dollar For Today? (1130236 Views)
Naira Appreciates Against The Dollar / How Much Did You Exchange The Pound For Today? (2) (3) (4)
(1) (2) (3) ... (169) (170) (171) (172) (173) (174) (175) ... (362) (Reply) (Go Down)
Re: How Much Did You Exchange The Dollar For Today? by ITBusinessGuy(m): 8:11am On Feb 27, 2016 |
tumababa:No Na. |
Re: How Much Did You Exchange The Dollar For Today? by ibnjarir93(m): 8:37am On Feb 27, 2016 |
toluxa1:I want to sell Netteler. |
Re: How Much Did You Exchange The Dollar For Today? by toluxa1(m): 11:14am On Feb 27, 2016 |
Re: How Much Did You Exchange The Dollar For Today? by ucman1(m): 11:51am On Feb 27, 2016 |
Greetis to you bro... [quote author=stagger post=43271093] I am not a forex trader. I do business with companies abroad, including an international development orgamization. I get paid in dollars and pounds sterling and my business is subject to exchange rate risks. Therefore when I get paid, I need to know when I should sell my foreign currency for local use here, or if I should hold on to it. Some of my procurement has to be made in foreign currency as well. |
Re: How Much Did You Exchange The Dollar For Today? by ucman1(m): 11:55am On Feb 27, 2016 |
modath: |
Re: How Much Did You Exchange The Dollar For Today? by Bevista: 12:21pm On Feb 27, 2016 |
stagger:@ the text in bold. Curiously, the nature of intervention you referred to is somewhat different from that of the CBN. Those countries wanted to weaken their currencies, so all they needed to do was to print more of their currencies to mop up Euros/Dollars. Even at that, the intervention has largely been unsuccessful. --- The case of CBN intervention is DOA. They are trying to strengthen the Naira, yet they cant print dollars or have dollar Reserves to intervene. --- Bottom line: CBN rhetoric cannot move the market on a sustained basis. It can cause some parabolic movements, but sooner or later, the market will return to where it came from. The underlying economic fundamentals (oil price) and structural issues (import-dependency) has not changed. If the Naira strengthens, importers and online buyers will simply resume purchases (demand) pushing the exchange rate up once again. ***Modified*** I have noticed after reading down the line that most of the issues have been discussed. The bashing you received was done in bad taste. Folks need to learn how to get their points across in a decorous manner, without denigrating others. 2 Likes |
Re: How Much Did You Exchange The Dollar For Today? by Bevista: 12:46pm On Feb 27, 2016 |
grandstar:Correct, but what you wrote does not paint the full picture. You did not take into account that oil price soon rallied above $100 and stayed there for more than 3 years. You also did not take into account that we had sufficient Reserves to continue to meet import demand. --- I can assure you that if oil price had stayed below $40 for a sustained period and if at that time our Reserves was below $30b, then the rate would have depreciated steadily from N120/$ to above N200/$. Even during GEJ, the CBN had to devalue twice from N150 - N168 - N197 (even with oil price at over $60 & Reserves at over $32b) --- As it stands, if CBN devalues to - say - N300/$, government revenue will increase fuelling inflation added to the already imported inflation. CBN will be forced to increase interest rate to curb inflation. In the meantime, note that even after devaluation, FX inflow to the Reserves may not increase by much, so the CBN might not re-enlist those de-listed items. As long as these items still chase dollars at the parallel market, the parallel rate might still diverge from the official rate, except the devaluation forces importers to cut down on their import demands. 2 Likes |
Re: How Much Did You Exchange The Dollar For Today? by stagger: 1:23pm On Feb 27, 2016 |
Bevista: Well said. We can't all have the same views or approach to issues. But my response is: bash the issue/standpoint and back it up with your reasons. I really did not mind the 1st person's response. It was Jazes's response that baffled me more because he has been around here, and I think has even appeared on Channels TV's Business Morning program (I am not sure and I stand corrected if I have made a mistake). So I expected a lot more than the response he gave. |
Re: How Much Did You Exchange The Dollar For Today? by ENRYDVYNEENT: 3:08pm On Feb 27, 2016 |
Please who does Exchange in the format of: I Pay Naira into your Nigerian bank account, while you pay me British Pounds.. I can receive my exchange in UK via any format. As I am in UK and have naira in my Nigerian account. Please get back to me with reasonable rates of exchange. Thanks. |
Re: How Much Did You Exchange The Dollar For Today? by ENRYDVYNEENT: 3:08pm On Feb 27, 2016 |
ENRYDVYNEENT: |
Re: How Much Did You Exchange The Dollar For Today? by Arteta99(m): 3:39pm On Feb 27, 2016 |
ibnjarir93:how many and at what rate? |
Re: How Much Did You Exchange The Dollar For Today? by agarawu23(m): 3:50pm On Feb 27, 2016 |
Please, Has anyone tried sending money using Ria money (first bank) or xpress money from Nigeria to other countries? |
Re: How Much Did You Exchange The Dollar For Today? by kaycodes: 4:54pm On Feb 27, 2016 |
Carshopper: Sorry man I didn't see this on time.. Sold to someone else @315 yesterday. |
Re: How Much Did You Exchange The Dollar For Today? by kaycodes: 4:56pm On Feb 27, 2016 |
Bookiemart01:Sorry ma'am already sold @315 I'll get some more this week, hopefully we can deal then. |
Re: How Much Did You Exchange The Dollar For Today? by Nobody: 5:32pm On Feb 27, 2016 |
I have USD here in US and can use Naira in Nigeria. Maybe $5k for now. PS: Please state the rate you are willing to pay (via Nairaland email) and I'll let you know if any interest. I'll be on the ground in couple of weeks so I can change it at home myself, but this is just in case someone needs something urgentish. |
Re: How Much Did You Exchange The Dollar For Today? by modath(f): 5:41pm On Feb 27, 2016 |
... |
Re: How Much Did You Exchange The Dollar For Today? by toluxa1(m): 5:55pm On Feb 27, 2016 |
stagger: Are you sure that is not Jarus? I watched Jarus on Channels |
Re: How Much Did You Exchange The Dollar For Today? by toluxa1(m): 5:57pm On Feb 27, 2016 |
ENRYDVYNEENT: Contact me at my signature. |
Re: How Much Did You Exchange The Dollar For Today? by grandstar(m): 6:29pm On Feb 27, 2016 |
Bevista: My point was that Sanusi had least respected market forces. Now, we have a president who has taken over as CBN governor and whose understanding of economics bothers on the pitiful. I don't think the naira will hit 300. I suspect 250 at worst for it to hit equilibrium. If other proactive steps are taken such as fully deregulating the prices of petrol and kerosene and perhaps even taxing it(The tax is a bit of a tall order), will be helpful in the short and long run as it will spur both local and foreign investment in the downstream sector. Also, if company tax should be slashed to 16-18% and withholding tax on dividends abolished, will spur massive portfolio investments into stocks which will boost stockmarket and forex inflows into the country. The dollarisation of the monthly allocations as advocated by Henry Boyo (which you disagree with) will boost the value of the naira. Government should also slash the wage bill and heavily cutting down the size of the civil service. They should make it lean and mean As Sanusi said, the many regulations and laws that stifle business in Nigeria should be done away with also. All these measures will help cushion the effect of any devaluation and put the economy on the path to rapid growth in little or no time 1 Like |
Re: How Much Did You Exchange The Dollar For Today? by Bevista: 6:41pm On Feb 27, 2016 |
grandstar:Slashing CIT by more than half will have two consequences. First it will reduce government revenue in an era of already declining revenue. Secondly, it will make companies have more funds to spend which will not only fuel inflation but also drive up exchange rate since most of those funds might be used for some sort of imports. Macroeconomics is a really delicate balancing act where you need to consider all the variables and moving pieces carefully. |
Re: How Much Did You Exchange The Dollar For Today? by ENRYDVYNEENT: 6:44pm On Feb 27, 2016 |
toluxa1:We can talk here... Who knows... others might be interested in this kind of my venture , thus this might be a good way to sell yourself. Thanks. |
Re: How Much Did You Exchange The Dollar For Today? by grandstar(m): 6:56pm On Feb 27, 2016 |
Bevista: Only a microscopic number of companies pay tax, probably less than 5% of companies. As at 1990, the companies on the stock market accounted for 84% of all company tax paid. These companies account for about 0.1% of all registered companies. Also, lower taxes actually encourage more companies to pay tax and formalise operations. India found out that anytime it reduced corporate tax, revenue increased If the FIRS, does a good job by increasing the tax base, revenues should actually increase and not go down. I doubt it will increase inflation. Over 90% of Nigerians companies don't pay tax so it doesnt matter What is most important is that it will really spur investment. 1 Like |
Re: How Much Did You Exchange The Dollar For Today? by makzeze: 6:59pm On Feb 27, 2016 |
i want 1000 USD to buy. who has? |
Re: How Much Did You Exchange The Dollar For Today? by Nobody: 7:14pm On Feb 27, 2016 |
Who has tried stanbic today? |
Re: How Much Did You Exchange The Dollar For Today? by Nsonaso(m): 7:14pm On Feb 27, 2016 |
GTB is live on air....
|
Re: How Much Did You Exchange The Dollar For Today? by Rooneyboy(m): 7:32pm On Feb 27, 2016 |
EgunMogaji: Studying my options keenly , we might just be bizz partners. Hope I can send naira into ur local acc "here in Nigeria" while u send its equivalent to China from the US ? |
Re: How Much Did You Exchange The Dollar For Today? by Carshopper(m): 8:02pm On Feb 27, 2016 |
EgunMogaji: Let's talk |
Re: How Much Did You Exchange The Dollar For Today? by oribi(m): 8:21pm On Feb 27, 2016 |
please who has an idea what gtbank is charging per dollar want to buy an item online please |
Re: How Much Did You Exchange The Dollar For Today? by D1O(m): 8:52pm On Feb 27, 2016 |
ENRYDVYNEENT: Whereabouts in the UK are you mate? How much Sterling are you looking for? Who are your UK bankers? |
Re: How Much Did You Exchange The Dollar For Today? by Mftivi: 9:07pm On Feb 27, 2016 |
(1) (2) (3) ... (169) (170) (171) (172) (173) (174) (175) ... (362) (Reply)
Football (+/Other Sports) Betting Season 15 / ➜ ➜ ➜Currency/E-currency Market Deals 2020 ➜ ➜ ➜ / EXCLUSIVE : How To Make Level 2 Seller On Fiverr In A Month As A Nigerian Seller
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 61 |