Naira Maintains Gain On Parallel Market - Business (2)

Naira Maintains Gain On Parallel Market - Business (2) - Nairaland

Nairaland Forum › Nairaland General › Business › Naira Maintains Gain On Parallel Market (28651 Views)

Re: Naira Maintains Gain On Parallel Market by seunlayi(m): 6:56am On Oct 12, 2016

Iroyin ayo

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Re: Naira Maintains Gain On Parallel Market by yinkslinks(m): 6:57am On Oct 12, 2016

Even Travelex has no dollar to give. I went and was told to come back thursday. so if i have an emergency travel do, i will still go to black market. it really changed nothing. naira can never change in nigeria, trust me. there are people making huge profit from this in Nigeria. cbn and travelex No1 example.

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Re: Naira Maintains Gain On Parallel Market by Khalifa04: 7:02am On Oct 12, 2016

Thanks to buhari

Re: Naira Maintains Gain On Parallel Market by Greataausim(m): 7:04am On Oct 12, 2016

Naira has lost it values since 2013....

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Re: Naira Maintains Gain On Parallel Market by justmi1: 7:05am On Oct 12, 2016

chimauga:
Everything u people will say, it will take time..untill u die abi. Open ur brain,

ok, now that you are wailing, what solution will it bring, won't you still die after all? Bros receive positivity and optimism IJN...

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Re: Naira Maintains Gain On Parallel Market by elskillful: 7:09am On Oct 12, 2016

if d naira continue to appreciate with the 2N margin by december we'd be back at 150N to a dollar or it might even be lower.

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Re: Naira Maintains Gain On Parallel Market by macanu(m): 7:17am On Oct 12, 2016

wen it reaches 1k to $1,den I will know they r serious,470 to $1 is no news pls. wen u put empty brain and expect brainstorming ideas what do u call urselves

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Re: Naira Maintains Gain On Parallel Market by IgweBUIKE1(m): 7:18am On Oct 12, 2016

Pls can anybody tell me the price of euro in the parrel market

Re: Naira Maintains Gain On Parallel Market by HardMirror(m): 7:27am On Oct 12, 2016

raker300:
Waiting for 1 naira to equal a dollar.

Or better still #180 = 1 dollar like it was in the so called "past corrupt" regime

That wld take another 3 years o if not more

Re: Naira Maintains Gain On Parallel Market by Nobody: 7:29am On Oct 12, 2016

orlarbissy:
when will #1 = $1

Bae...wake up. Youve bn dreaming

Re: Naira Maintains Gain On Parallel Market by 989900: 7:29am On Oct 12, 2016

Adesiji77:
The illiquidity at the interbank market is the main headache now.

With oil doing $50+ and increase in production, one would expect better . . .

2 Likes

Re: Naira Maintains Gain On Parallel Market by tabithababy(f): 7:33am On Oct 12, 2016

Re: Naira Maintains Gain On Parallel Market by Truth234(op): 7:34am On Oct 12, 2016

989900:
With oil doing $50+ and increase in production, one would expect better . . .

The agreement reached by Saudi and Russia in Turkey yesterday will likely bolster oil prices to about $60 a barrel if follow through, and with Nigeria planning to increase her production per day, we should be good in the mid-long term since production cap will have minimal effect on our output considering our volume.

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Re: Naira Maintains Gain On Parallel Market by kabrud: 7:38am On Oct 12, 2016

Keneking:
Are travellers the cause of the huge demand of USD?

Travellers are partly responsible. About a month ago, Egypt Airlines operating in Nigeria accepted Naira but I made enquiries just yesterday about their fares and I was shocked to hear that they no longer accept Naira but Dollars. The meaning is that if I must travel with them, I must just get the Dollars which will put pressure on the Naira. Other airlines accept Naira but Egypt seems to be the cheapest when they accept payment in Naira.

Re: Naira Maintains Gain On Parallel Market by pat1612(m): 7:44am On Oct 12, 2016

Not permanent arrangement cbn will change its policy within no time.experimenting is what is new policy for cbn.
Inflow is less than outflow so its bound to increase.all pending transactions with bank are worth billions and cbn is holding on it to show that things are good if it starts giving dollars to importer within few week dollar will be finish.trying to avoid unavoidable.
if they really want things to improve they should not give absolute power to bank for distributing dollar to importer as it give rise to corruption and round tripping.

But then i am not cbn governor he knows best tongue

Dont quote me if not saying anything constructive or giving me insight to understand cbn policy.
My opinion my view no offence intended grin

Re: Naira Maintains Gain On Parallel Market by holyfather(m): 7:50am On Oct 12, 2016

raker300:
Waiting for 1 naira to equal a dollar.

Or better still #180 = 1 dollar like it was in the so called "past corrupt" regime

Imagine

Re: Naira Maintains Gain On Parallel Market by kabrud: 7:52am On Oct 12, 2016

yinkslinks:
Even Travelex has no dollar to give. I went and was told to come back thursday. so if i have an emergency travel do, i will still go to black market. it really changed nothing. naira can never change in nigeria, trust me. there are people making huge profit from this in Nigeria. cbn and travelex No1 example.

Very true. I was approached at the departure hall sometimes back by one of these BDC agents. He was asking me if I had purchased Dollars at the counter. From my little interaction with him, what I discovered was that there is a provision for each traveller to purchase a maximum of $4k at the official rate and he wanted to use my travelling document to buy some for himself although with a promise of paying me about 80k for that and since I wasn't aware of the likely implication, I declined.

Re: Naira Maintains Gain On Parallel Market by kabrud: 7:59am On Oct 12, 2016

tonio2wo:
Naira depreciated to d dollar from 197 to 470 in less than 2yrs. Now it has appreciated with just 2 naira and some idiots are rejoicing. Smh.

No need to rejoice over any appreciation. It is better the depreciation continues I guess. grin

Re: Naira Maintains Gain On Parallel Market by ColtPython(m): 8:02am On Oct 12, 2016

orlarbissy:
when will #1 = $1

When will u marry grin

Re: Naira Maintains Gain On Parallel Market by yinkslinks(m): 8:30am On Oct 12, 2016

That is cool business he wanted to do. you would have told him 150k or no deal grin

kabrud:
Very true. I was approached at the departure hall sometimes back by one of these BDC agents. He was asking me if I had purchased Dollars at the counter. From my little interaction with him, what I discovered was that there is a provision for each traveller to purchase a maximum of $4k at the official rate and he wanted to use my travelling document to buy some for himself although with a promise of paying me about 80k for that and since I wasn't aware of the likely implication, I declined.

Re: Naira Maintains Gain On Parallel Market by Myde4naija(m): 8:49am On Oct 12, 2016

raker300:
Waiting for 1 naira to equal a dollar.

Or better still #180 = 1 dollar like it was in the so called "past corrupt" regime

I hope u won't wait in vain, when all u people do is to sponsor militant to destroy all means of forex.

1 Like

Re: Naira Maintains Gain On Parallel Market by buchai: 10:18am On Oct 12, 2016

we shall see how it will be faired in febuary and march may God help us.

Re: Naira Maintains Gain On Parallel Market by Kaybaba5(m): 11:57am On Oct 12, 2016

God will help us in Nigeria

Re: Naira Maintains Gain On Parallel Market by JUBILEE2000: 2:00pm On Oct 12, 2016

dejavubobo1:
Guess the stiffness of the economy is what made this possible, most business men who deal with dollar and imported produce are out of biz or experiencing set back. also ppl paying for dollar services are also experiencing set back.
The Eurodollar market ll definitely favour the naira now in recession. But what ll happen if the recession is over. we ll be back to square one again, as long as we depend on the Ducci's over Ankara & prefer Leeds university over U.I, this story won't change.

simply going back and front. Which way naija

People have been buying Gucci and Schooling Abroad with ease even when oil was $30/barrel and with lower production output. The truth is that is either the Government is not telling Nigerians the truth or those running our Government are simply incompetent.

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