Stella Dimoko Korkus.com: Bloomberg Naira Report ...

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Monday, June 20, 2016

Bloomberg Naira Report ...



Somebody should please explain this devaluing ISH in layman's language...


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35 comments:

  1. GALORE20 June 2016 at 12:24

    Ok o




    @Galore

    ReplyDelete
    Replies
    1. Miss Ferragamo20 June 2016 at 13:48

      I don't understand, is it now 254=$1? Pardon my ignorance.

      Delete
  2. Miss Ess20 June 2016 at 12:26

    I tire, does it mean aboki and bank rate would be the same?

    ReplyDelete
    Replies
    1. Heefeh20 June 2016 at 12:40

      Kikikiki ,u really cracked me up.pls help us ask them.

      Delete
    2. stranger20 June 2016 at 13:15

      The most important question of all. I am yet to understand all these eco terms.

      Delete
    3. Ina20 June 2016 at 21:25

      Yes o. Na the aboki rate concern us

      Delete
  3. Jan20 June 2016 at 12:28

    Waiting pls!

    ReplyDelete
  4. Yori Yori Princess20 June 2016 at 12:31

    We would be buying dollars at the black market and official market at N254. This is not good. It should be N1.00 to a dollar

    ReplyDelete
  5. Mao Akuh (Oriflame)20 June 2016 at 12:37

    This regime can't do anything about our economy threfore Bubu should resign.

    ReplyDelete
  6. Unknown20 June 2016 at 12:37

    We simply switched between exchange rate regimes. Rather than stick to our 'traditional' fixed exchange rate (an exchange rate regime where the government through its institution in this case the CBN) plays a major role in determining the currency's exchange value against other currencies, we (Naija) adopted a flexible exchange rate policy where the value of our naira is determined by market forces-demand and supply. So, na demand and supply dey correct the whole gbege.

    ReplyDelete
  7. James20 June 2016 at 12:39

    It means that the value of the naira has depreciated further.
    According to the report, the value of the naira will drop by 22%
    Dat means Nigerians should expect an increase in the price of goods not less than 22% of their current prices .

    ReplyDelete
    Replies
    1. Anonymous20 June 2016 at 19:55

      Men are definitely smarter than ladies,if na one useless thing you Will see a mil comments, dumb girls

      Delete
    2. Anonymous21 June 2016 at 02:14

      James wtf..keep quiet jooor

      Delete
  8. Anonymous20 June 2016 at 12:41

    Stella olodo rabata. I can see you are not bright.

    ReplyDelete
  9. Collin Emeka20 June 2016 at 12:43

    Its not that complicated. The central bank and the Nigerian government has finally agreed to let the Naira float according to the laws of demand and supply. Forget the "devalue" term. It'll just confuse you more.

    In the next few days we would know what the real value of Naira is. 254 is just a start and wont be stable if its now truly totally floating .

    ReplyDelete
  10. BELLA'S @cakes_by_bellas 20 June 2016 at 12:43

    I need explanations too abeg

    ReplyDelete
  11. I am the queen and the boss of this blog(CHIEF)20 June 2016 at 12:46

    You won't see those idiots correcting people's written English on this blog here...
    Where are they?...they should come out and explain the meaning of this....
    Educated illiterates!...

    ReplyDelete
    Replies
    1. la effizy20 June 2016 at 14:23

      Calm your fallen titties.
      Economics is different from english...

      Delete
    2. Anonymous20 June 2016 at 15:19

      Ouch!...why does 'fallen titties' sound more brrrrutal than if @La effizy had said 'fallen breast'

      Delete
    3. Anonymous gangster.20 June 2016 at 16:00

      "Fallen breast" still leaves hope for d nipples, "fallen titties" is absolute, d entire boobs are hopeless! This is a deep yab, almost like they know each other!

      Delete
    4. Anonymous20 June 2016 at 21:02

      Who gave birth to this thing called the Linda eze?i feel so sorry for it when I see its comments.

      Delete
    5. Anonymous21 June 2016 at 00:45

      Lol. This blog ehhn

      Delete
  12. Unknown20 June 2016 at 12:54

    Okay

    ReplyDelete
  13. excited courtesy20 June 2016 at 12:54

    Brb

    ReplyDelete
  14. babyeyez izzy20 June 2016 at 12:54

    Someone should please explain o..thank u

    ReplyDelete
  15. abril20 June 2016 at 13:13

    It means that naira value will be determined by forces of demand and supply.

    ReplyDelete
  16. Unknown20 June 2016 at 13:13

    Hipee! I hope this turns out well. Naira against dollar will now be determined by the forces of demand and supply.

    ReplyDelete
  17. reemah20 June 2016 at 13:19

    Please explain. I just keep getting confused.

    ReplyDelete
  18. @amOwen20 June 2016 at 13:40

    biko we are waiting for d explanations oh...cos me ba nor understand too...

    ReplyDelete
  19. that igbo girl20 June 2016 at 14:17

    NO THE 254 IS NOT A FIXED RATE AS THAT EXCHANGE SYSTEM IS NO LONGER PRACTISED. THIS WHOLE FLOATING EXCHANGE SYSTEM SIMPLY MEANS THAT U CANT REALLY PREDICT THE EXCHANGE RATE OF A NAIRA TO THE DOLLAR BOTH AT THE PARALLEL AND OFFICIAL MARKETS BECAUSE THIS RATE WILL NOW BE DETERMINED BY THE MARKET FORCES. MARKET FORCES OF DEMAND AND SUPPLY IMPLYING THAT THE FINANCIAL INSTITUTIONS WONT BE ABLE TO PEG THE PRICE AT ONE FIXED RATE CUS IT WILL BE FLUCTUATING ON A DAILY BASIS DEPENDING ON HOW MANY DEMANDS FOR FOREX THE MARKET HAS AND HOW MANY FOREX ARE AVAILABLE TO BE SOLD...HOPEFULLY THIS WILL HELP STABILIZE THE NAIRA AND ENCOURAGE AVAILAIBILTY OF MORE FOREX....

    ReplyDelete
  20. Anonymous20 June 2016 at 14:24

    My own is we should be receiving our dollars and pounds from western Union and co like before so we can go and change it ourselves. Not this they will change it for us in the bank already with their very low rate

    ReplyDelete
  21. Tefe20 June 2016 at 15:43

    Y'll should keep waiting for people to explain exchange rate of dollar for u,the value of the dollar still stands at 355 at,these new so-called flexible rate will only in banks and ur gutter cbn,clueless mofos dat ought to have done these a long time ago.

    ReplyDelete
  22. Anonymous20 June 2016 at 17:39

    Well, Simply said in layman's language, the official exchange rate will stop being determined by CBN and instead determined by the Market.
    So, just like price of Petrol and Diesel that moves, so will the exchange rate move.
    Ideally, the exchange rate will be based on number of dollar being sold and amount the sellers want to sell and number of it being bought and amount buyers want to buy.

    Ideally, the black market should be eliminated.

    Notice the words ideally as nothing ever works as expected and the CBN have refused to realize this. Ideally, bank interest rates should not be more than 10-15% under any circumstance, but it is currently between 25-30%. Anything you leave to be determined by the banks that want to declare mega profits with lame monitoring, will be abused. So, as you can see, black market still exists, which means there will be round tripping, e.t.c.

    So, currently, it is "Siddon Look" policy that CBN has implemented so.

    ReplyDelete
  23. Anonymous20 June 2016 at 22:21

    It means that with naira at N365 at the parallel market. I am officially a multibillionaire by Nigerian standard because N1bn is just $2.74million.

    ReplyDelete
  24. Anonymous21 June 2016 at 13:07

    Linda eze shut up inugo. explain to SDK now. Uneducated illiterate.

    ReplyDelete

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