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Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig (21694 Views)

Naira Exchanges ₦400 To A Dollar. How True? / Money Supply Jumps To N49 Trillion / Top 10 Weakest Currency In Africa (See List) (2) (3) (4)

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Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by naijacentric(m): 5:13pm On Jul 31, 2018
Opinionated:
Sai Baba Worldwide has another achievement.

Even if we hate on him, we cannot deny this one.

Let love prevail.
why is dere still hunger in d land?

1 Like

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by frugal(m): 5:15pm On Jul 31, 2018
OBAGADAFFI:
Its will soon get to N100 since demand will increase.
Before it gets to this, dollars would have fallen drastically.

1 Like

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by Buffalowings3(m): 5:19pm On Jul 31, 2018
Las las
Na 100naira when dey spoil am

1 Like

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by atobs4real(m): 5:19pm On Jul 31, 2018
Good one. At least things like electronics will get cheaper instead of this dollar wahaala. Americans can't do without China but will only give specification.

1 Like

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by atobs4real(m): 5:22pm On Jul 31, 2018
Please let us know the old exchange rate between Nigeria and China

1 Like

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by atobs4real(m): 5:23pm On Jul 31, 2018
frugal:

Before it gets to this, dollars would have fallen drastically.
Thanks. I pray so. That's what I feel too.

1 Like

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by Horus(m): 5:24pm On Jul 31, 2018

https://www.youtube.com/watch?v=9C0PXPkm_4k

CBN woos importers to trade Chinese yuan
Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by Nobody: 5:24pm On Jul 31, 2018
OBAGADAFFI:
Its will soon get to N100 since demand will increase.
before this week runz out it will get to 300 naira to a yuan. Is it not nigeria again?

1 Like

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by Nobody: 5:25pm On Jul 31, 2018
aolawale025:
This should reduce pressure on local dollar demand.

Sorry, your naira is not a convertible currency and not a major currency, the CBN will settle the Chinese in dollar equivalent, does not make any difference.

4 Likes 1 Share

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by Nobody: 5:25pm On Jul 31, 2018
BigSarah:
Will Clothing Industries and Shipping Companies Accept to be paid in Yuan in Place Of Dollars?


Meanwhile check my signature wink
Yes
Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by Nobody: 5:26pm On Jul 31, 2018
OBAGADAFFI:
Its will soon get to N100 since demand will increase.
It will but the price of dollar will crash

1 Like

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by atobs4real(m): 5:29pm On Jul 31, 2018
BigSarah:
Will Clothing Industries and Shipping Companies Accept to be paid in Yuan in Place Of Dollars?


Meanwhile check my signature wink
Yas why noy

1 Like

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by Zdoh(m): 5:29pm On Jul 31, 2018
It is well chwck my signature for contact to exchange your ecurrency instantly to Naira
Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by OyiboOyibo(m): 5:34pm On Jul 31, 2018
super stories to deceive the masses

2 Likes

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by Neutrality: 5:44pm On Jul 31, 2018
flyca:
I see many foolish people rejoicing over nothing on this thread! Call me wailer or any other thing you wish. I use yuan directly and I know how it bites!

Immediately Buhari took over power, my parents couldn't pay my school fees anymore. Same with thousands on self-sponsored students here in China. Feeding and living allowance became war! The consolation is that "we had to suffer first and gain later". Is this eventually what it is

I'm really sad at this developement after two long years of waiting for Buhari's miracle.

You met yuan at 33 per naira. You pushed it up to 57, 58, at some point it was 60RMB per naira! Now we are supposed to be singing and clapping and jumping at 49 and 50naira? Is that madness

Please kindly bring it back to where you met me and don't tell me any oil prices nonsense!
Try appreciate someone's efforts 4 a while

7 Likes 1 Share

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by erico2k2(m): 5:46pm On Jul 31, 2018
Neutrality:
Try appreciate someone's efforts 4 a while
what was the effort??

1 Like

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by flyca: 5:46pm On Jul 31, 2018
Neutrality:
Try appreciate someone's efforts 4 a while
You are crazy! So this is what you can type after all my explanation? Effort? Effort? How much effort did he put to push naira up from 33 to 57 in a space of 3 months? Get lost!

1 Like

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by nextstep(m): 5:46pm On Jul 31, 2018
Opinionated:
Sai Baba Worldwide has another achievement.

Even if we hate on him, we cannot deny this one.

Let love prevail.

For what? ... why is this an achievement? To increase the ease of importation? How is that an achievement? I'll quote flyca, who said it best:

flyca:
I see many foolish people rejoicing over nothing on this thread! Call me wailer or any other thing you wish. I use yuan directly and I know how it bites!

Immediately Buhari took over power, my parents couldn't pay my school fees anymore. Same with thousands on self-sponsored students here in China. Feeding and living allowance became war! The consolation is that "we had to suffer first and gain later". Is this eventually what it is

I'm really sad at this developement after two long years of waiting for Buhari's miracle.

You met yuan at 33 per naira. You pushed it up to 57, 58, at some point it was 60RMB per naira! Now we are supposed to be singing and clapping and jumping at 49 and 50naira? Is that madness

Please kindly take naira back to where you met me and don't tell me any oil prices nonsense!

2 Likes

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by prinsam30: 5:48pm On Jul 31, 2018
flyca:
I see many foolish people rejoicing over nothing on this thread! Call me wailer or any other thing you wish. I use yuan directly and I know how it bites!

Immediately Buhari took over power, my parents couldn't pay my school fees anymore. Same with thousands on self-sponsored students here in China. Feeding and living allowance became war! The consolation is that "we had to suffer first and gain later". Is this eventually what it is

I'm really sad at this developement after two long years of waiting for Buhari's miracle.

You met yuan at 33 per naira. You pushed it up to 57, 58, at some point it was 60RMB per naira! Now we are supposed to be singing and clapping and jumping at 49 and 50naira? Is that madness

Please kindly take naira back to where you met me and don't tell me any oil prices nonsense!


exactly what I'm thinking, I still don't understand this exchange

3 Likes

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by rusher14: 5:55pm On Jul 31, 2018
Jonathan's project.
Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by rusher14: 5:56pm On Jul 31, 2018
flyca:
I see many foolish people rejoicing over nothing on this thread! Call me wailer or any other thing you wish. I use yuan directly and I know how it bites!

Immediately Buhari took over power, my parents couldn't pay my school fees anymore. Same with thousands on self-sponsored students here in China. Feeding and living allowance became war! The consolation is that "we had to suffer first and gain later". Is this eventually what it is

I'm really sad at this developement after two long years of waiting for Buhari's miracle.

You met yuan at 33 per naira. You pushed it up to 57, 58, at some point it was 60RMB per naira! Now we are supposed to be singing and clapping and jumping at 49 and 50naira? Is that madness

Please kindly take naira back to where you met me and don't tell me any oil prices nonsense!

Maybe you haven't learnt anything in your studies over there.

5 Likes

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by malakasea(m): 6:06pm On Jul 31, 2018
OBAGADAFFI:
Its will soon get to N100 since demand will increase.
Expect good and you will see good,by the time you expect bad you will see shurly see bad!
Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by Lordave: 6:08pm On Jul 31, 2018
rusher14:


Maybe you haven't learnt anything in your studies over there.
Shut up there!

How does this even affect the dollar?

Is CBN swapping the Yuan with Naira or with Dollar?

Is CBN paying China in Naira or dollar equivalent?

This is a total bullshït designed to increase importations from China as a “Thank You” for all the misappropriated loans this government has taken from China.

3 Likes

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by Barzinime(m): 6:14pm On Jul 31, 2018
You should stop disgracing yourself on here.. If you were so wise, they should have made you minister of finance na...descendants of hate undecided
Lordave:
Shut up there!

How does this even affect the dollar?

Is CBN swapping the Yuan with Naira or with Dollar?

Is CBN paying China in Naira or dollar equivalent?

This is a total bullshït designed to increase importations from China as a “Thank You” for all the misappropriated loans this government has taken from China.

2 Likes 1 Share

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by boxypane(m): 6:17pm On Jul 31, 2018
We need more and better economic policies. 1 ¥=N20 or so in 2015.
Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by Icon79(m): 6:23pm On Jul 31, 2018
A brain-dead economic policy, as always, by Buhari. Or shall we say Buhari's voodoo economics.

According to the report, "the Central Bank of Nigeria signed a bilateral currency swap agreement with the People’s Bank of China (PBoC) worth about $2.5 billion". So how is that gonna be enough? The black market operators and bureau de-changers would soon purchase all the Yuan and hoard them and we would return back to status quo.

There's ONLY ONE way to improve the value of your currency: that is by increasing your foreign reserves. Or in a layman's terms: exporting more goods than you import. Anything else is a joke!



O pari

BigSarah:
Will Clothing Industries and Shipping Companies Accept to be paid in Yuan in Place Of Dollars?


Meanwhile check my signature wink

4 Likes

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by rusher14: 6:33pm On Jul 31, 2018
Lordave:
Shut up there!

How does this even affect the dollar?

Is CBN swapping the Yuan with Naira or with Dollar?

Is CBN paying China in Naira or dollar equivalent?

This is a total bullshït designed to increase importations from China as a “Thank You” for all the misappropriated loans this government has taken from China.

You are a complete ignoramus.

Nigeria's largest trade partner is China.

In the past, should you need to make Chinese purchases you would have bought the dollar to buy the Yuan.

Now, a direct purchase of the yuan means less pressure on the dollar which means closer parity of related currencies.

Now go and hawk your gala.

2 Likes

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by malakasea(m): 6:40pm On Jul 31, 2018
naijacentric:
why is dere still hunger in d land?
There are those who are behind it,the same people are also behind those present killing in the nation.My brother let us not allow those people to brainwash our tinking two days ago an agency in the UK have just pointed out those responsible to those killing.Belive me brother this man has the country on his mind he is working for our good,eg look at the capitals projects his is awarding and commissioning,lastly you talk about hunger,most of our people have gon back to farm,befor then this man have gave out billions of naira in the form of bell-out to state governors for the country not experiences such pains but those people squnderd and misuse those fund because of the blody impunity the enjoy.Brother just investigate carefully and arrive at the true,we are in a nation were the rich get richer and poor get poorer everyday.

2 Likes 1 Share

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by Almaiga: 6:42pm On Jul 31, 2018
Buhari is working.


Sai Baba.

1 Like

Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by brightleave(m): 6:51pm On Jul 31, 2018
Solomonudofia:
Nigeria’s Central Bank (CBN) sold yuan at a range of N49 and N51 at its first auction of the Chinese currency last week under the swap agreement with the People’s Bank of China.

Traders told Reuters on Monday, July 30, 2018, that the CBN sold Chinese yuan at immediate value for a 15-day settlement.

According to the report, some lenders got as much as 60% of the volume they applied for, while a bank got just 5%. They said the volume sold was based on the price quoted for the yuan at the auction.

The Acting Director, Corporate Communications at the CBN, Isaac Okorafor, confirmed the sales.

He explained that bids received from authorised dealers were only attended to, adding that the availability of Renminbi will ease pressure on the foreign exchange market.

Okorafor further assured that the bank was committed to ensuring that all the sectors continue to enjoy access to the foreign exchange required for their business concerns, be it the U.S. dollar or Chinese yuan.

On May 3, 2018, the Central Bank of Nigeria signed a bilateral currency swap agreement with the People’s Bank of China (PBoC) worth about $2.5 billion.

The currency swap deal is valued at 16 billion Renminbi (RMB) and about 720 billion in Naira. The deal is expected to reduce the demand for US dollar by Nigerians importing goods from China, and consequently strengthening the value of the Naira.


https://www.clintgist.com/naira-exchanges-at-n49-n51-per-yuan-at-first-auction-id8676391-html/



Na Jonathan start am grin angry grin
Re: Naira Exchanges At N49-N51 Per Yuan At First Auction Of Chinese Currency In Nig by Gordonz07(m): 6:51pm On Jul 31, 2018
Hope we won't make the Yuan stronger soon Before it will be 1000naira to 1 Yuan.

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