likata:
barcanista is an asset to this country.Respect man

arsetalks:
Some saying Barcanista must be a prophet, prophet of what? Prophet of doom? If you know use your brains you will know the sudden decline and appreciation are all artificial. It is created the mallams for their own gain.

Curiously Barcanista and co have refused to debate why the naira fell from 154 at the beginning of the last quarter of 2014 to 200+ the retardeen left it.

soe:


Hello...can we please be reasonable here.

The United States is not running a stagnant economy...their currency value would definitely rise and fall at some points...the influence of a capitalist economy cannot be over-ruled.

On the other hand, what we are doing is to have a nation that is less dependent on the US economy, Mynd44 had asked a very salient question yesterday for which no one could answer.

he asked, Why did the Naira fall so badly from 160 to 200 in 2014/2015 ? If you can answer that, then we can reason with your cock and bull theory

The answer is so simple. A number of factors contribute to the rise or fall of a country's currency; We have the stock market/foreign investments, tourism and international trade. But basically, and speaking in lay man terms, if you have more people replacing their currencies with your currency, then your currency will rise in value. If you have more people dealing in your currency than their currency, then your value will rise. Sadly as the reverse implies, if you have more people dumping your own currency for the other currency, your value will nose dive.

If you look at the above relation, you will notice that it all falls back to a demand/supply chain rule, but not explicitly.

The only back door approach to a rise/fall currency value is the so called "de-valuation or denomination" of the currency which has to do with the Central Bank physically reducing the supply of your own currency so as to make it seem as though it is scarce again.

So what do you think happened in 2014/2015, Corrupt polithiefians knew it was the season of campaign and stealing and stashing and looting. It was the season to keep monies at home. They all withdrew in USDollars and replaced our Naira with Dollars. So, the dollar became increasingly more sought in our local market, almost competing with the Naira. Hence the crash of the Naira in the local (black) market.

What CBN is doing now, as part of the change program, is to force the polithiefians to return to the need and use of Naira and dispose their ill gotten USDollars stashed in their personal and underground vaults. The moment USDollars is not acceptable to our local banks. That will reverse the 2014/2015 trend and restore the Naira value to 160.

But as I said...the US Govt. has an economy to run also, and until we successfully reduce the dependency of our economy on theirs, our Naira value will also rise and fall intermittently....the good news however is that the USDollars is no longer competing with the NAIRA in our loal market...we are shifting the battle back to the International FOREX MARKET

Obiagelli:
This only proves that the fall of the naira is artificial based on speculations, the naira will find its true value soon.

dougivilla:
That is what the ''try your luck'' aka ''Baba Ijebu'' or ''Lotto'' Economics of PMB is bequeathing to Nigerians.

iykedare:
[s][/s]

Crap. Now go read what barcanista wrote then modify this.

Firefire:

Longest time sister.
How are you ?

INTROVERT:
Barcanista must be a prophet.
I pray naira comes back to 160 170 sha coz my business is being affected.

Obiagelli:

I am fine and you?

Tbillz:
Change is constant!

RichDad1:

He's just a prophet of doom that will be shamed very soon.

soe:


Hello...can we please be reasonable here.

The United States is not running a stagnant economy...their currency value would definitely rise and fall at some points...the influence of a capitalist economy cannot be over-ruled.

On the other hand, what we are doing is to have a nation that is less dependent on the US economy, Mynd44 had asked a very salient question yesterday for which no one could answer.

he asked, Why did the Naira fall so badly from 160 to 200 in 2014/2015 ? If you can answer that, then we can reason with your cock and bull theory

The answer is so simple. A number of factors contribute to the rise or fall of a country's currency; We have the stock market/foreign investments, tourism and international trade. But basically, and speaking in lay man terms, if you have more people replacing their currencies with your currency, then your currency will rise in value. If you have more people dealing in your currency than their currency, then your value will rise. Sadly as the reverse implies, if you have more people dumping your own currency for the other currency, your value will nose dive.

If you look at the above relation, you will notice that it all falls back to a demand/supply chain rule, but not explicitly.

The only back door approach to a rise/fall currency value is the so called "de-valuation or denomination" of the currency which has to do with the Central Bank physically reducing the supply of your own currency so as to make it seem as though it is scarce again.

So what do you think happened in 2014/2015, Corrupt polithiefians knew it was the season of campaign and stealing and stashing and looting. It was the season to keep monies at home. They all withdrew in USDollars and replaced our Naira with Dollars. So, the dollar became increasingly more sought in our local market, almost competing with the Naira. Hence the crash of the Naira in the local (black) market.

What CBN is doing now, as part of the change program, is to force the polithiefians to return to the need and use of Naira and dispose their ill gotten USDollars stashed in their personal and underground vaults. The moment USDollars is not acceptable to our local banks. That will reverse the 2014/2015 trend and restore the Naira value to 160.

But as I said...the US Govt. has an economy to run also, and until we successfully reduce the dependency of our economy on theirs, our Naira value will also rise and fall intermittently....the good news however is that the USDollars is no longer competing with the NAIRA in our loal market...we are shifting the battle back to the International FOREX MARKET

In a most dramatic reversal in fortune, the naira fell N235 to US$1 in the parallel market on Tuesday evening, despite appreciating to N209 barely 24 hours earlier.

“The naira had reached a record low of N260 to a dollar. But since banks started rejecting cash deposits of foreign currencies, BDCs are now flooded with foreign currencies,” he said. “Right now the naira is selling at N210 to a dollar. In fact we buy at N200 and sell at that amount. So business is good.”

godoluwa:
4 ur mind ryt?

neocortex:
When barcanista gave a sound analysis of the foreign exchange problems, APC zombies
attacked him like vultures not knowing that as reality is different from make believe so
is real change different from cosmetic one.

Sai Buhari is working

SeverusSnape:
Buhari is a curse.

Barcanista is a good prognosticator . No wonder they (the zombies) hate him with passion. He's their main nightmare

BARCANISTA you're the man.

**waiting for $1=#1**

RichDad1:
PDP and their winchi winchi.
Those lots don't want the best for this country.I weep for my country

RichDad1:
PDP and their winchi winchi.
Those lots don't want the best for this country.I weep for my country

SenseiX:



https://www.thecable.ng/dramatic-reversal-naira-falls-n2351

Firefire:
APC robotic supporters are the most useless elements on the planet earth.

You rush to glorify a short term measure without considering the long term effect.

At this juncture, I declare all myopic supporters of "BUBU" brainless.

Well done Barcanista, over to children of hate and anger!

Pidggin:
"1dollar=1naira" is not a statement that can be actualized by govt. policy alone. Pmb should have thought of this before making promises.

INTROVERT:
Barcanista must be a prophet.

I pray tomorrow we will wake up and it's 170 again

“The naira had reached a record low of N260 to a dollar. But since banks started rejecting cash deposits of foreign currencies, BDCs are now flooded with foreign currencies,” he said. “Right now the naira is selling at N210 to a dollar. In fact we buy at N200 and sell at that amount. So business is good.” Garba Mohammed, another BDC operator, said the gap between the price of dollar at the interbank and parallel bank might be bridged if banks continued to reject forex

jaybee3:


When exactly did he make the promise

Provide a direct quote of him making that statement and receive N100K from moi

INTROVERT:



Am am yet to see your argument that counters what he has said....I don't think you are an economist.