It's still useless

Still on their Favour not for the masses

Wow , how did it work? I mean I don't even know the it that was put in place in the first place .anyways,let's observe more

But I saw #460 on abokifx where the parallel market rate is always published

Dis tin d drop slowly lik low sperm count

It's going to 400 believe me

Now I see buhari iz the probz

Femsmart:
Fall today rise tomorrow dollar. Abeg I tire.

my brodaaa no b small tin

shamecurls:


Bank rate is different from parallel market

He quoted parallel on his post...



I saw it clearly ...my good sir.

This is what Nigeria needs, a leader with a brain

It seems Osinbajo will be better than PMB

seunmsg:
I hope they can sustain this policy of flooding the market with forex. A little fall in the price of crude oil or drop in crude production as a result of renewed violence and we will be back to square one.

you are the only one among the apc guys that always say something smart.

unclezuma:


This is the clearest and close to home explanation anyone has ever given me instead of that

"Four Legs Good Two Legs Bad" they chant whenever you ask an important question.

Yea he did justice to it.

Welldone Truth234

Until the Naira returns back to atleast, 170 per dollar, i don't see any improvement or gain.

Nigeria itself is a scam. That is how bank refused to pay me in dollars when my friend sent some money for his housing project. They insisted in paying me in Naira.

Dollar is 460 though and might even reduce further today

Let's hope militants won't go on rampage.

Such an unserious country...

Multiple exchange rate!
Emefiele

now this is what i call bad news. i was expecting 530 before end of today. hope it increases soo though

buhari should just remain in that place or rather get stroke. do not get well till 2019 and beyond. we are enjoying osinbajo progress.

Splashme:
Please, tell Bubu to bring back our naira to 200/$ or resign.


We have suffered enough

Hurry go make him resign.

MutantMetahuman:
Dollar is 460 though and might even reduce further today


Let's hope militants won't go on rampage.

It surely will as fear is into the market now.

Truth234:


There is nothing like flooding the market with dollars, you just need to understand how the CBN works. Currently, the institution is generating about $2.4 billion-$2.8 billion in forex a month, and since this new policy was introduced a total of $610 million ($370+$240) has been auctioned.

Meaning, the CBN is saving more than its spending, and don't forget our output is near all time low 1.6mbpd but once the trans forcado pipeline is open by the second quarter, we should be able to up our production to about 1.8mbpd-1.9mbpd and increase our revenue generation even more.

Once the manufacturers can access forex at a moderate rate, the consumer prices (inflation rate) will cool and job creation will increase. So will consumer spending and gradually the economy will once again come alive. There is no point saving all the money while the economy dies of scarcity.

Are you an economist?

Gains #10 depreciates by #50, the gain will only be significant if it's gains by atleast #100

This thread was opened early morning yesterday(5.32am on 24/02/2017) before the massive Naira appreciation yesterday.

Which mod placed it on FP today(25/02/2015) when it has become stale and misleading. Some people no get sense at all.

The death of buhari wil bring joy to Nigerians, both Economically & Democratically, Buhari is a curse to Nigeria !

Following.........

unclezuma:


This is the clearest and close to home explanation anyone has ever given me instead of that

"Four Legs Good Two Legs Bad" they chant whenever you ask an important question.

You pretty much summed up the Zombie in Chief of Nairaland.

seunmsg:



It is not a matter of Buhari or Osinbajo. CBN is simply flooding the market with dollars and naturally, the market will respond to the laws of demand and supply.

With this policy, we are back to the era of throwing our forex around to defend the naira so, it is nothing new or magical. The down side is that CBN may likely stop building the reserve in order to sustain this policy and any slight drop in crude production, sustainability will become an issue.

Oga So why did all this not happen when bubu was around?
Am sure he wud hav killed the idea If he was around .
Pls bubu continue Your leave till 2019.
Notin do u .

powerfulsettingz:
breaking news

The Now Acting president have just appointed the then president muhamodu buhari as the new Nigeria ambassador to United Kingdom.
This has really help strengthen our naira our the new ambassador he's busy sourcing for dollar in UK since he assume office

Are you talking about the prodigal president?

ToriBlue:
Are you an economist?

Foreign exchange research analyst