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Naira Appreciates Across Forex Market - Business (2) - Nairaland

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Re: Naira Appreciates Across Forex Market by ifyalways(f): 7:48am On Mar 14, 2017
JustinSlayer69:


So what's the solution according to you, oga World Bank?

What you guys don't know is that Soludo and Sanusi took these same measures during the global recession. How do you think forex rates remained relatively constant 2009-2014?

Temporary ***

When primary school drop-outs feel funky.

2 Likes

Re: Naira Appreciates Across Forex Market by gidado14(m): 7:49am On Mar 14, 2017
Jengem:
Rubbish


Buhari needs to permanently resign
get out ewo
Re: Naira Appreciates Across Forex Market by Femillionz(m): 7:52am On Mar 14, 2017
homotayo11:
the only time I can acknowledge a progress in the exchange rate is when dollar to naira rate is lesser than what PMB and PYO met when they took the mantle.

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Re: Naira Appreciates Across Forex Market by buchilino(m): 7:56am On Mar 14, 2017
JustinSlayer69:


So what's the solution according to you, oga World Bank?

What you guys don't know is that Soludo and Sanusi took these same measures during the global recession. How do you think forex rates remained relatively constant 2009-2014?

Temporary ***


AM NOT A FINANCIAL EXPERT, BUT BOTH SOLUDO N SANUSI DIDN'T OFFER ANY LONG TERM SOLUTIONS. DATS Y WE R WHERE WE R. D PRESENT ADMINISTRATION, HAVE DECIDED TO TOE D SAME LINE. MY FEAR IS, IN D SHORT DISTANT TIME, DIS DECISIONS WILL LATER COME TO HUNT US.
Re: Naira Appreciates Across Forex Market by Nobody: 8:07am On Mar 14, 2017
ifyalways:

When primary school drop-outs feel funky.

Harvard graduate. ... first your economic solution

Second.... it's temporary in that context. wink

Third .... @ ifalways, you definitely didn't win any awards in English for Harvard.

"Relating to the temples" vs "non-permanent". It's time to go school grin grin grin

Re: Naira Appreciates Across Forex Market by Nobody: 8:10am On Mar 14, 2017
buchilino:


AM NOT A FINANCIAL EXPERT, BUT BOTH SOLUDO N SANUSI DIDN'T OFFER ANY LONG TERM SOLUTIONS. DATS Y WE R WHERE WE R. D PRESENT ADMINISTRATION, HAVE DECIDED TO TOE D SAME LINE. MY FEAR IS, IN D SHORT DISTANT TIME, DIS DECISIONS WILL LATER COME TO HUNT US.

I agree with you that their palliatives were short-term fixes....

But considering we don't even have a solid economic framework on ground, non-existent power supply etc. All we can do is short term patches for now and set up the long-term measures that are sustainable.

For a President who is in power for 8 years, in the first 3 years, he would set up the framework for long-term, using short-term measures for the meantime, by the 5-6 years, the effects should start showing, by the end of his reign, tangible evidence. (sorry for the terrible punctuation)

See the examples of Singapore and UAE.

1 Like

Re: Naira Appreciates Across Forex Market by Oblang(m): 8:15am On Mar 14, 2017
homotayo11:
the only time I can acknowledge a progress in the exchange rate is when dollar to naira rate is lesser than what PMB and PYO met when they took the mantle.

Did ur hero left it where he met it?
Re: Naira Appreciates Across Forex Market by AngelicBeing: 8:19am On Mar 14, 2017
tongue
Re: Naira Appreciates Across Forex Market by twosquare(m): 8:24am On Mar 14, 2017
Wayo Government...propaganda here and there...after banning our cards for international transactions...those who need to run their business online can't..what a fake appreciation. No wonder investors are still not impressed. Remove the plug and see if it can withstand it. Whatever you get is the actual value.
Re: Naira Appreciates Across Forex Market by Slimmos(m): 8:29am On Mar 14, 2017
The prices if goods and services are going up every day even with the fall of dollar and rise of naira..Should we now conclude that, we Nigerians are the enemies of ourselves..
Re: Naira Appreciates Across Forex Market by Amoto94(m): 8:35am On Mar 14, 2017
With sustained efforts to diversify our mono product economy and peace in the ND region we shall get there.
God bless Nigeria
Re: Naira Appreciates Across Forex Market by smartty68(m): 8:49am On Mar 14, 2017
All I can say for now is hmmmmcry
In other news garri is 3cups for #200 since Bababu came backlipsrsealed
At the mention of Bababu everything shall drastically rise in the marketsad
Na sipping sure pass nowgrin

Re: Naira Appreciates Across Forex Market by deflover(m): 8:52am On Mar 14, 2017
If u ve dollars
Don't panic
Keep it
The economy is still import dependent
So this window dressing of the naira won't last long
There is still a plan to devalue the naira
So it will get worse
Do you notice it has not gone beyond 440naira
So we have a support and soon we should be heading to 520naira retest
I see 700naira soon
So wear your seat belt
The foreign reserves can't support this dollar intervention as oil is going down for a straight three days now cool
Re: Naira Appreciates Across Forex Market by Nobody: 8:54am On Mar 14, 2017
adecz:
Wetin be difference btw Bureaus De Change & Parallel ( black) market?
Bureau de change are the registered operators who have the license to trade gotten from CBN. To get that license is Over 10 million naira. There are about 3200 registered Bureau de change in Nigeria and they are under the leadership of ABCON. - Association of Bureau de Change Opertors in Nigeria. They are found in Airports, and other places and they usually have a registered office. Examples of Bureau de change is Travelex. While Black Market / Parralel Market are all those illegal northerners standing on the road with calculator, saying "dollar, pound, gold....u wan buy abi, u wan sell" any random AB0KI can just wake up one day and wear their signature baba Riga and cap and start the business. Their rates are usually very high. Bank rate=306 Bureau de change rate=400 Black Market=455

1 Like

Re: Naira Appreciates Across Forex Market by TeamSimple(m): 8:55am On Mar 14, 2017
godfatherx:
Not until it gets to N200 to 1USD, there's nothing to be happy about.



My dear, why can't you just wait till 2019?
There's nothing you can do now about PMB!
Don't mind those idiotas..even the death they wish for didn't come sooner..

Sure some of them already lost loved ones while awaiting a 76 year old Buhari's death.
Re: Naira Appreciates Across Forex Market by DLuciano: 8:58am On Mar 14, 2017
Jengem:
Rubbish


Buhari needs to permanently resign
I concur. It is obvious Buhari is the brain behind the recession the nation is passing through. Osinbajo is simply applying the law of demand and supply in economics. The higher the supply, the lower the price. The lower the supply and the higher the demand which will create scarcity and a sharp increase in price. what Osinbajo did was to pump more forex into CBN and in turn the commercial banks and this greatly strengthen the Naira. Baba will not understand this principle even though he is advised by Madam Adeosun, all his thought is why will they release such huge money, they are corrupt, they want to steal it, "CBN release it small small". By his thinking of fighting corruption he is creating scarcity of forex and just damaging the economy. Imagine our foreign reserve has greatly increased, yet we are talking of recession because of poor economic policies.
Re: Naira Appreciates Across Forex Market by smartty68(m): 9:10am On Mar 14, 2017
ifyalways:

When primary school drop-outs feel funky.
The TEMPORAL a true Nigerian understands is PERMANENT
In Nigeria everything has always been on the increase even during the acclaimed good governance years back
Re: Naira Appreciates Across Forex Market by ifyalways(f): 9:15am On Mar 14, 2017
smartty68:

The TEMPORAL a true Nigerian understands is PERMANENT
In Nigeria everything has always been on the increase even during the acclaimed good governance years back
Lol.

Okiez

1 Like

Re: Naira Appreciates Across Forex Market by Clone2020(m): 9:54am On Mar 14, 2017
If you are in the US or have relatives in the US trying to send money to naija, I will exchange the funds at 400/$, simply deposit into my US bank account and receive instant funding into your Nigerian account. Don't bother with western Union and co, they exchange at 375/$ with fees and the exchange rate drops to around 345/$.

Contact in signature..
Re: Naira Appreciates Across Forex Market by Mummyejire(f): 9:56am On Mar 14, 2017
Alexkene:
Bureau de change are the registered operators who have the license to trade gotten from CBN. To get that license is Over 10 million naira. There are about 3200 registered Bureau de change in Nigeria and they are under the leadership of ABCON. - Association of Bureau de Change Opertors in Nigeria. They are found in Airports, and other places and they usually have a registered office. Examples of Bureau de change is Travelex. While Black Market / Parralel Market are all those illegal northerners standing on the road with calculator, saying "dollar, pound, gold....u wan buy abi, u wan sell" any random AB0KI can just wake up one day and wear their signature baba Riga and cap and start the business. Their rates are usually very high. Bank rate=306 Bureau de change rate=400 Black Market=455
Please how do one buy from the bureau de change people,do you know of anyone.
Re: Naira Appreciates Across Forex Market by adecz: 10:20am On Mar 14, 2017
Alexkene:
Bureau de change are the registered operators who have the license to trade gotten from CBN. To get that license is Over 10 million naira. There are about 3200 registered Bureau de change in Nigeria and they are under the leadership of ABCON. - Association of Bureau de Change Opertors in Nigeria. They are found in Airports, and other places and they usually have a registered office. Examples of Bureau de change is Travelex. While Black Market / Parralel Market are all those illegal northerners standing on the road with calculator, saying "dollar, pound, gold....u wan buy abi, u wan sell" any random AB0KI can just wake up one day and wear their signature baba Riga and cap and start the business. Their rates are usually very high. Bank rate=306 Bureau de change rate=400 Black Market=455

You missed my point.
What I'm saying is, parallel market & BDC are like saying girl & female. They are basically the same in their operations & exchange rates. In fact BDCs are black market operators who have put on a toga of officialdom by registering with govt. They are themselves the black market & it is them that dictate the 'true' exchange rate of the naira, not CBN.
Re: Naira Appreciates Across Forex Market by guychidile: 10:30am On Mar 14, 2017
permanent solution pls,I need this dollar to be dropping continuously.
Re: Naira Appreciates Across Forex Market by kabawa(m): 10:35am On Mar 14, 2017
Things are getting better day by day grin
Wailers cry me a DAM grin
Re: Naira Appreciates Across Forex Market by kabawa(m): 10:38am On Mar 14, 2017
smartty68:
All I can say for now is hmmmmcry
In other news garri is 3cups for #200 since Bababu came backlipsrsealed
At the mention of Bababu everything shall drastically rise in the marketsad
Na sipping sure pass nowgrin

Na gari you go drink die,while Nigeria go dey progress.
zomo grin
Re: Naira Appreciates Across Forex Market by tundejoseph4(m): 11:22am On Mar 14, 2017
Anything that buari touches will become dust, he is completely a badluck, let dis man just leave that Aso Rock, and let osinbajo continue jawe
Re: Naira Appreciates Across Forex Market by murmee: 11:26am On Mar 14, 2017
adecz:
Wetin be difference btw Bureaus De Change & Parallel ( black) market?
Good Question!
Re: Naira Appreciates Across Forex Market by teamobanabo(m): 11:38am On Mar 14, 2017
This dollar dey tire me.... stay one MBA..... na to go up and down...

Re: Naira Appreciates Across Forex Market by adecz: 11:40am On Mar 14, 2017
Alexkene:
Bureau de change are the registered operators who have the license to trade gotten from CBN. To get that license is Over 10 million naira. There are about 3200 registered Bureau de change in Nigeria and they are under the leadership of ABCON. - Association of Bureau de Change Opertors in Nigeria. They are found in Airports, and other places and they usually have a registered office. Examples of Bureau de change is Travelex. While Black Market / Parralel Market are all those illegal northerners standing on the road with calculator, saying "dollar, pound, gold....u wan buy abi, u wan sell" any random AB0KI can just wake up one day and wear their signature baba Riga and cap and start the business. Their rates are usually very high. Bank rate=306 Bureau de change rate=400 Black Market=455

My point is that they are basically one & the same ppl. BDC rate is black market rate.

1 Like

Re: Naira Appreciates Across Forex Market by 989900: 12:06pm On Mar 14, 2017
N452 this morning.
Re: Naira Appreciates Across Forex Market by Nobody: 12:12pm On Mar 14, 2017
Mummyejire:

Please how do one buy from the bureau de change people,do you know of anyone.
It's usually hard to buy from BDC. They usually sell to mostly those planning to travel out etc. Make ur enquiries.
Re: Naira Appreciates Across Forex Market by Funjosh(m): 1:16pm On Mar 14, 2017
Dyt:
Ema tan ra yin



embarassed embarassed embarassed

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