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Nairaland Forum / Nairaland / General / Politics / Where Is Impact Of China Currency Swap/deal? (691 Views)
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Where Is Impact Of China Currency Swap/deal? by Linzo(m): 12:53pm On Sep 10, 2018 |
Since the China/Nigeria currency deal/swap I have waited to see a slight change in exchange rate but what I see everyday is Naira losing more value or remained stagnant. Please someone should enlighten me on how to measure the impact or is this another scam? |
Re: Where Is Impact Of China Currency Swap/deal? by iammo(m): 1:20pm On Sep 10, 2018 |
Linzo: its only $2.5bn worth of yuan (16bn rmb) that CBN got from Peoples bank of china and total trade volume between Nigeria and China is $13.8bn a year, this can't really have drastic impact, as not all nigerian traders can access the Chinese currency from CBN only few people that qualifies for it if what you want to import is only CBN approved list. In reality if you still want to travel to china, you would be wise to get yourself your dollars from an aboki, because your chances of getting Yuan from CBN may be slim |
Re: Where Is Impact Of China Currency Swap/deal? by Linzo(m): 1:29pm On Sep 10, 2018 |
iammo:So you mean the deal will not force exchange rate of Naira to appreciate against the dollar? And price of common commodities will not fall? |
Re: Where Is Impact Of China Currency Swap/deal? by deomelo: 1:31pm On Sep 10, 2018 |
Another ipob and anti Nigerian lamentation thread. Next>>>>>>> 2 Likes 1 Share |
Re: Where Is Impact Of China Currency Swap/deal? by iammo(m): 1:38pm On Sep 10, 2018 |
Linzo:no it wouldn't, has we need dollar complete the $2.5bn (CBN swap deal) - $13.8bn (total yearly trade)= $11.3bn (trade deficit). besides we need dollars for all of our other trades with other countries like Japan(cars) Dubai(tourism/shopping) India ( medical tourism) UK/US (education) Germany(Cars, construction and machinery). However it would slightly give convenience to few lucky traders that access it from CBN. |
Re: Where Is Impact Of China Currency Swap/deal? by Linzo(m): 1:50pm On Sep 10, 2018 |
iammo:Hmmmmm you just weaken my moral because I shifted certain international payments I needed to make to December believing on this deal, that it will weaken dollar to atleast N150/$ |
Re: Where Is Impact Of China Currency Swap/deal? by Linzo(m): 4:21pm On Sep 10, 2018 |
So in it give no significant impact na? |
Re: Where Is Impact Of China Currency Swap/deal? by osazeeblue01: 4:56pm On Sep 10, 2018 |
Linzo: Nigerians are in a wrong hands. |
Re: Where Is Impact Of China Currency Swap/deal? by Linzo(m): 9:12pm On Sep 10, 2018 |
osazeeblue01:Bro you're right |
Re: Where Is Impact Of China Currency Swap/deal? by Softhands(m): 3:13pm On Sep 14, 2018 |
Contact me if you need RMB... don't go and be stressing yourself too much. iammo: |
Re: Where Is Impact Of China Currency Swap/deal? by Linzo(m): 11:45pm On Oct 07, 2018 |
We are waiting |
Re: Where Is Impact Of China Currency Swap/deal? by gabng(m): 1:23am On Oct 08, 2018 |
Approach your bank if you are in need of RMB (Yuan) Stop lamenting in something you have not made any effort to access. |
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