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Nairaland Forum / Nairaland / General / Business / Speculators Lose N100m As CBN Pumps Dollars Into Interbank (20657 Views)
Currency Speculators ‘to Lose N700m / CBN Pumps $195Million To Boost Forex Market, As Naira Firms Up / Naira Plunges At Interbank Market (2) (3) (4)
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Speculators Lose N100m As CBN Pumps Dollars Into Interbank by Islie: 6:05am On Mar 06, 2017 |
Foreign exchange (forex) speculators have lost over N100 million in the last three days after the Central Bank of Nigeria (CBN) injected fresh dollars into the interbank market. http://thenationonlineng.net/speculators-lose-n100m-cbn-pumps-dollars-interbank/ lalasticlala 2 Likes 2 Shares |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by Nobody: 6:10am On Mar 06, 2017 |
It simply won't work. At some point the well that they're getting the dollars from will run dry because we know that we're not earning nearly enough in exports. +++++++++++ FTC Numero Dos. Muy caliente cabron y cabrones 15 Likes 1 Share |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by Businessideas: 6:41am On Mar 06, 2017 |
EgunMogaji:I am not sure your pessimism allowed you to give a honest view. With our daily oil output of over 2.1m barrels of oil (fetching Nigeria a whopping over $50m dollars daily!) and rising non oil exports from recent data, sustained anti-corruption fight in public finance, you will soon realize what terrible fate await you if you are one of the unpatriotic speculators. Government is clearly not sleeping with it's eyes closed and when the full reality of what Kemi Adeosun said last year hits some of the speculators,they will consider suicide or declare bankruptcy. These are the four factors that will eventually kill the speculators: 1.Rising oil output , price and sales. 2. Rising non oil sector export forex earnings. 3. Transparency and honest management of public finance by fighting corruption. 4. The apparent political will to fight and defeat these unpatriotic speculators. 182 Likes 17 Shares |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by Nobody: 6:45am On Mar 06, 2017 |
Businessideas: It's my opinion. Trust me, my fate is bountiful riches because I don't depend on one economy. 2.1m barrels at destitute price? I have empathy for you though as you're unable to reason intelligently in a debate, at least in a financial sense. Too bad. 12 Likes |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by Nobody: 6:48am On Mar 06, 2017 |
Businessideas: Help me tell them. Dem never see chin chon chun. Mugus 20 Likes 2 Shares |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by Businessideas: 6:56am On Mar 06, 2017 |
EgunMogaji:Apparently,you didn't know or refer to the current price of crude oil.Perhaps if you do,you will know that the joke is on you.Do your simple maths of the current price of crude and Nigeria makes 60% gross earnings on a barrel and if this currently exceeds our daily US dollars demand and still left to save up in our foreign reserves and the money not looted 43 Likes 3 Shares |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by Nobody: 7:02am On Mar 06, 2017 |
Businessideas: Nope, you have no way of knowing what research I did. The policy simply won't work, hence why the naira falls shortly after they pump dollar into the economy in a lame duck manner. 3 Likes |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by jeeqaa7(m): 7:21am On Mar 06, 2017 |
Hahaha |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by agboskipool(m): 7:22am On Mar 06, 2017 |
ok |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by forayfleo(m): 7:23am On Mar 06, 2017 |
I so faith in God |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by babyfaceafrica: 7:23am On Mar 06, 2017 |
Nice one..I believe in Nigeria |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by DollarAngel(m): 7:23am On Mar 06, 2017 |
Good Decision but how consistent will they be |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by Spidermon: 7:23am On Mar 06, 2017 |
Make I still dey observe. Okafor's law seems to be deeply rooted in our national matters. If i could buy the new range rover Velar for 50,000 naira, Boy!!! Wont that be something... 1 Like |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by Nobody: 7:23am On Mar 06, 2017 |
Skelewu |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by Mightyraw(m): 7:24am On Mar 06, 2017 |
Businessideas:Wetin be Ur problem, E affect u ? 1 Like |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by johnjay4u2u(m): 7:24am On Mar 06, 2017 |
Enemies of the land go shock! 1 Like 1 Share
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Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by babatee126(m): 7:24am On Mar 06, 2017 |
Hummm? |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by Karlman: 7:25am On Mar 06, 2017 |
GOOD |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by IMASTEX: 7:25am On Mar 06, 2017 |
Okay |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by AngryNigerian(m): 7:26am On Mar 06, 2017 |
Please, what is dollar? Never heard of that word 1 Like |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by jemby: 7:26am On Mar 06, 2017 |
Ok |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by olaxx: 7:26am On Mar 06, 2017 |
CBN seems determined to defend the naira at this time. The only set of people willing to keep their dollars at this time are those who got dollars cheap. Those who got it at higher rate can't afford to lose so much money anymore. These set of people rather sell out asap and count their losses. 7 Likes |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by Dshocker(m): 7:27am On Mar 06, 2017 |
Provided it would help the masses |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by sapientia(m): 7:27am On Mar 06, 2017 |
I hope its sustainable... defending the naira is part of what got us here. |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by seunlly(m): 7:27am On Mar 06, 2017 |
CBN in action nice one |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by AngelicBeing: 7:29am On Mar 06, 2017 |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by fulaniHERDSman(m): 7:31am On Mar 06, 2017 |
All hail OSINBAJO! Down with the Dulllardd and his BMC DWELLERS |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by Nobody: 7:31am On Mar 06, 2017 |
lol |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by paschu: 7:32am On Mar 06, 2017 |
Don'tmind them. They are just using propaganda to drive the market. But propaganda can only go so far until reality hits with hard cold numbers. EgunMogaji: 2 Likes |
Re: Speculators Lose N100m As CBN Pumps Dollars Into Interbank by sureheaven(m): 7:32am On Mar 06, 2017 |
This method adopted to further crash the dollar won't end well for now. Our export doesn't worth it, for how long will the CBN does this? The only best way to boost the naira is to increase production and export more. 3 Likes 1 Share |
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