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Naira Dramatically Recovers To N405/$1 After MPC Decisions - Business (3) - Nairaland

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Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by wristbangle: 3:11pm On Mar 22, 2017
989900:
It is inevitable if you're studiously studying the dynamics and parameters.

It will capsize dramatically once it converges with/near IMTOs rates.

Speculators . . . undecided

EDIT: it is N390@Dopemu right now.

You said yesterday it was N405 which turns out to be correct. I guess I hav to believe u on this @ N390. Well Godwin Emefiele said it's gonna be sustainable, so let's see.

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Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by samazagudu(m): 3:17pm On Mar 22, 2017
Npower : device selection second batch is on process. Those who got their 3 month
stipends should kindly visit the NPVN portal to select his device.

1 Like

Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by Amoto94(m): 3:17pm On Mar 22, 2017
Truth234 whatcha say?
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by postemail: 3:18pm On Mar 22, 2017
989900:
It is inevitable if you're studiously studying the dynamics and parameters.

It will capsize dramatically once it converges with/near IMTOs rates.

Speculators . . . undecided

EDIT: it is N390@Dopemu right now.

Hi 989900. Just a few questions for you and the house;

Excluding CBN's weekly intervention, Is there any other reason why the Naira is strengthening?

Do you think it will fall to the PTA / Bank rate -375?
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by TheSCRYPT: 3:20pm On Mar 22, 2017
I am still wondering why when the price of crude oil was $141/Bbl it was never mentioned that we needed a better exchange rate. Instead it was slowly increasing, N1 today, N2 tomorrow and best case stagnant until the price of crude oil dropped to under $30. This is just sad. 
May Karma meet those who have ruined this country before they reach their bus stops.
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by KKKWHITE(m): 3:20pm On Mar 22, 2017
Whats the point when the price of things are still going up
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by bigpicture001: 3:20pm On Mar 22, 2017
...where is d FG getting all its dollars supply?
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by nextstep(m): 3:20pm On Mar 22, 2017
Half the battle is psychological. If CBN can convince speculators that there's no money to be made from hoarding, then the dollar supply will ease. However, because of the high exchange, a lot of transactions were put on hold by importers, weakening demand. As the Naira gains, we should also see an increase in demand from pent-up orders. Where the equilibrium will be I don't know, but I hope it's around #330 - #370.

1 Like

Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by fergieboy: 3:22pm On Mar 22, 2017
smartty68:

Not impressed either but at least we should commend their efforts towards the fight put up against speculators so far and be optimistic that it appreciates more in the coming weeks.
Yeah... This is no news.. They promise us 1naira to 1dollar .. So nothing to commend here
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by decode55(m): 3:22pm On Mar 22, 2017
Omagago:



So from 550 down to 405 no be recovery abi??

I suspect you are one of the speculators too.


From ₦216? You and your government need medical help. Enjoy your change.

2 Likes

Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by TheSCRYPT: 3:23pm On Mar 22, 2017
bigpicture001:
...where is d FG getting all its dollars supply?

Majorly crude oil sales and some minor export commodities.

1 Like

Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by Amberon: 3:23pm On Mar 22, 2017
I checked. Who is wise now?
adem30:


If you are little bit wise, you would have check the website
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by charlove(m): 3:25pm On Mar 22, 2017
petux:
Yeah. We are moving...God Bless Nigeria.

moving backward to how GEJ left naija?
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by nextstep(m): 3:25pm On Mar 22, 2017
decode55:

From ₦216? You and your government need medical help. Enjoy your change.

I'm no hailer or wailer, but I celebrate that what cost around N500 last month is now N400. I can't refuse to celebrate because it once was #216. Afterall, in my lifetime N1 was once $1

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Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by Nobody: 3:25pm On Mar 22, 2017
Omagago:



So from 550 down to 405 no be recovery abi??

I suspect you are one of the speculators too.
Oboy if the oeater of that food mess here een, the radioactive emmission go kill all the living things around grin
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by martineverest(m): 3:26pm On Mar 22, 2017
postemail:


Hi 989900. Just a few questions for you and the house;

Excluding CBN's weekly intervention, Is there any other reason why the Naira is strengthening?

Do you think it will fall to the PTA / Bank rate -375?
no....it will fall below PTA rate..their initial plan is for black market to equal BDC rate.if it occurs,CBN will reduce the rate @which they sell to BDC further to bank rate...their next target will be equalisation of all rates

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Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by martineverest(m): 3:27pm On Mar 22, 2017
bigpicture001:
...where is d FG getting all its dollars supply?
crude oil sales especially...and little from loot recovery

1 Like

Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by TheSCRYPT: 3:33pm On Mar 22, 2017
A quick question to those who may be knowledgeable enough to respond. 
What happens when the laws of economics' diminishing marginal utility catches up with this policy?
Is there a possibility of it backfiring?
Because this seems to be the same policy Mr Jonathan employed when he was accused of using external
reserves to support the failing Naira before he was voted out.
It is a good thing that crude oil prices have stabilized, however, we may need
another source of foreign exchange sooner rather than later as we begin to find other
use for our external reserves instead of spending the bulk of it on cushioning the system.

Someone educate me biko.

2 Likes

Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by AngelicBeing: 3:33pm On Mar 22, 2017
cool
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by justjify(m): 3:34pm On Mar 22, 2017
Amberon:
Liar liar pants on fire.
Check to get your fact right before you come here and start masturbating. The guy is right afterall.

1 Like

Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by CellTabRepairs: 3:36pm On Mar 22, 2017
Lucozade boost always refreshes but leaves you high and dry, shaking the pack for more!

It's never enough...

Click My Name & View That Resource You Might Need
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by Dareomo(m): 3:39pm On Mar 22, 2017
So let the MPC meet every day and keep taking the same decision for it to keep gaining more.
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by Amberon: 3:39pm On Mar 22, 2017
Masturbating to what exactly. Buying price is different from selling price. Learn to have courtesy.
justjify:

Check to get your fact right before you come here and start masturbating. The guy is right afterall.
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by Nobody: 3:41pm On Mar 22, 2017
Government magic
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by Charly68: 3:42pm On Mar 22, 2017
Soludo where are you? I want to hear the economic formulae that has done this magic ooo! Am sure,the CBN Governor has gotten his groove back now. Forex speculators will vomit all they have swallowed
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by Electroweb(m): 3:48pm On Mar 22, 2017
I suspect there is so much dollars in the system. Speculators are having their fingers burnt. Now they want to offload their dollars. The sooner they offload it the better because this exchange rate is heading to N240 per dollar before third quarter of the year 2017. My projections...

3 Likes

Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by HAH: 3:56pm On Mar 22, 2017
Electroweb:
I suspect there is so much dollars in the system. Speculators are having their fingers burnt. Now they want to offload their dollars. The sooner they offload it the better because this exchange rate is heading to N240 per dollar before third quarter of the year 2017. My projections...
Amen to this your projection

3 Likes

Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by HAH: 3:57pm On Mar 22, 2017
Electroweb:
I suspect there is so much dollars in the system. Speculators are having their fingers burnt. Now they want to offload their dollars. The sooner they offload it the better because this exchange rate is heading to N240 per dollar before third quarter of the year 2017. My projections...
Amen to this your projection

It's now N400 but God willing tomorrow it be less

2 Likes

Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by Nasa28(m): 4:03pm On Mar 22, 2017
I hope it will be sustained.... Thanks to God.

Also waiting to see the effect on consumer Goods like rice
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by Truth234(m): 4:08pm On Mar 22, 2017
Amoto94:
Truth234 whatcha say?

My concern is sustainability of foreign exchange supply. The Shale has upped production following Donald Trump wins, disrupting OPEC successful consensus, hence, plunging oil below $50/barrel for the first time in three months.

Even though, oil was pegged at $45 a barrel in the 2017 budget, there is possibility of price slipping below that benchmark if OPEC failed to take into consideration US Shale production during September cut. However, our oil revenue will take a slight hit for now but I don't think it will have a significant impact on current progress considering the fact that just about $2.6 billion has been sold so far by the CBN, which is below what we generate in a single month. Therefore, the CBN still has enough arsenal to hurt speculators and close forex gap.

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Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by TGaines: 4:08pm On Mar 22, 2017
I can make my comment when naira back to 135naira to 1usd
Re: Naira Dramatically Recovers To N405/$1 After MPC Decisions by justjify(m): 4:09pm On Mar 22, 2017
Amberon:
Masturbating to what exactly. Buying price is different from selling price. Learn to have courtesy.
Hey, is calling someone a liar bring courteous? Remove the log from your eyes girl. You have nothing to tell me about courtesy. The guy said It is now N400 Check abokifx.com. Which some other people confirmed. Be it selling or buying, if you are smart enough you can get it for even less. You must have seen where a guy said its N390 somewhere in Lagos.
So babe, what's your pee? You should be celebrating since you want to travel to UAE, its working in your favour.
Take a chill pill sweetheart.
By the way, how far with your visa? Any progress? Good luck.

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