Friday, 30 November 2018

NAIRA MORE CONCERNED WITH FALLING OIL THAN POWELL

Emerging market currencies could remain supported after dovish remarks from Federal Reserve Chairman Jerome Powell weighed heavily on the US Dollar.

However, the Nigerian Naira may struggle to reap the full benefits of a weakening Dollar due to heavily depressed Oil prices. Although expectations of the Fed raising interest rates less than expected may reduce capital outflows, the Naira remains heavily influenced by Oil markets.

With Oil prices sinking to a fresh yearly low today, this not only impacts government revenues, but economic growth and the nation’s ability to enact the 2019 budget which pegged the Oil price at $60 per barrel. If falling reserves result in the CBN being unable to defend the Naira, this will weigh heavily on the local currency.

Have you heard this? Many Nigerian exporters have been defrauded of huge amount of money in the process of exporting commodities to foreign countries. Do you know why? They were not trained on export operations, management, documentations and the best methods of payment in export trade. This is terrible!!! Nigerians cannot continue to lose money to foreigners in the course of export business. Exporters, why don’t you get a practical manual that teaches the stages of export trade from processing and packaging of commodities to receipt of payment by the foreign buyers. It teaches export operations, export management, export documentations and methods of payment in export trade? It is a contemporary step-by-step guide to export trade. It tells all the contemporary dynamics in export trade. To get it, click on the link below:
http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html