Naira Makes U-turn, Drops To N385 - Business (5) - Nairaland
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Nigeria: Inflation Rate Drops To 11.37% In January - NBS / Nigeria’s Inflation Drops To 16.25% In May - NBS / BREAKING: Naira Makes Further Gain, Returns To N500/$ (2) (3) (4)
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| Re: Naira Makes U-turn, Drops To N385 by LordAdam16: 12:38pm On Apr 04, 2017 |
southpawy2k3: You are a BASTARD. Is today MONDAY? STUPID, ARROGANT, DAFT, MORONIC F**L! -Lord 1 Like |
| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 12:42pm On Apr 04, 2017 |
LordAdam16: hahahaha...what a coward!!!! I swear you are retarde*...oya go and write 1 page of insults...Jobless man 1 Like |
| Re: Naira Makes U-turn, Drops To N385 by LordAdam16: 1:02pm On Apr 04, 2017 |
southpawy2k3: Say today is Monday na. UNINTELLIGENT MOFO! AMOEBA! You're quoting Tuesday rate for a Monday prediction. And I even offered you a chance to apologize, but stupidity is flowing in you like blood. New rate was not announced on Monday. Dollars was not sold to BDCs on Monday. Rate did not fall on Monday. And you have the guts to quote me. MAD turkey! -Lord 1 Like |
| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 1:14pm On Apr 04, 2017 |
LordAdam16: See it continue crashing like your brains 1 Like
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| Re: Naira Makes U-turn, Drops To N385 by LordAdam16: 1:18pm On Apr 04, 2017 |
1 Like |
| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 1:23pm On Apr 04, 2017 |
LordAdam16: See it continue crashing like your brains...Dollar is scarce nobeso mumu? 1 Like
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| Re: Naira Makes U-turn, Drops To N385 by LordAdam16: 1:27pm On Apr 04, 2017 |
southpawy2k3: Today is Monday nobeso GOAT? Shameless cow! -Lord 1 Like |
| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 2:05pm On Apr 04, 2017 |
LordAdam16: So on Monday is scarce but on Tuesday is not scarce  ?hahahaha...1 Like |
| Re: Naira Makes U-turn, Drops To N385 by LordAdam16: 2:07pm On Apr 04, 2017 |
southpawy2k3: Your brain is full of condensed milk. Is today Monday? Yes or No? -Lord 1 Like |
| Re: Naira Makes U-turn, Drops To N385 by 989900: 2:33pm On Apr 04, 2017 |
southpawy2k3: The situation is fluid at the moment . . . fingers crossed. P.S. Brent is above $50 again for some few days now, and for those who are conversant with Forex trading, Fridays and Mondays are higher demand days (and other logistics) = higher prices. Quit wasting time with 'Lord', he is just gon' waste your time running around in circles, he is better at exchanging insults, shifting goal posts, and dwelling on trivialities than ideas. 1 Like |
| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 2:52pm On Apr 04, 2017 |
989900: Bless you my brother...somebody that has common sense...ordinarily I would ignore idiots like this Lord...but it's these same people that go around Speculating against our Naira...that's why I just like people like this idiot to eat their words 1 Like |
| Re: Naira Makes U-turn, Drops To N385 by LordAdam16: 5:22pm On Apr 04, 2017 |
989900: Says the person who doesn't know what personal remittances are or the difference between BDCs and parallel market abokis. Stick to politics that isn't black or white. The dumbo you're quoting doesn't know zilch about FX trading. I could bet he doesn't even have a domiciliary account. Nor can he tell the size of the worldwide FX market without using Google. He started foaming in March this year when the CBN found their mojo. Yet he registered in 2012. From 2014 when the currency crisis started to 2017, he said nothing, and now he is a pseudo-expert. 3 whole years of nothing and now he's quoting me a Tuesday rate to justify a Monday prediction. Can you believe it? He is a kid around this block and he just got schooled on the very basics of FX trading. You couldn't make the kind of errors this guy made. And that's saying a lot. -Lord 2 Likes |
| Re: Naira Makes U-turn, Drops To N385 by LordAdam16: 6:05pm On Apr 04, 2017 |
southpawy2k3: The only person eating his words is you. You said rate would fall on Monday, it didn't! Simple st*pid failed prediction. Nothing more. Even 989900 wouldn't have made that kind of stupid prediction nor would he have made the multiple errors you shared. First you believed that a simple $2k increase in sales to BDCs would change the direction of the market, when the major thing that has upended the market every time there was a crash since Feb 20th was excessive sales to banks not BDCs. The CBN sold $240m yesterday ($150m for forwards when they normally sold $100m and $90m for invisibles when they normally sold an average of $80m, which is in the same pattern with the way they sold heavily on Feb 20th for example) and rate fell today. Your magical extra $2k per BDC the CBN sold today (note that they changed their mind from twice a week to once a week) had nothing to do with the fall today. Then you didn't notice that any sales by the CBN affected the market the next business day. Which means the only way rate could have fallen on Monday was if the CBN sold excessive dollars TO THE BANKS on Friday. These are very simple observations that any body who follows the market knows, but it was clearly lost on you. Every speculator worth his salt understands the recent volatility of the market and profits from it. CBN didn't update their reserve homepage last week, which was a sign that there's fire on the mountain and all sales was below $100m. That was a buy signal (rate was 360-370). CBN selling $240m yesterday was a sell signal (rate was 390-400). A smart speculator who purchased $10,000 made at least 200k within 6 days. You can't make that kind of profit buying bonds or T-bills or our current fluffy stock market. That's the big reveal and draw of the parallel market and why speculators are going no where. While you're here foaming in the mouth. The CBN would slow down again, which will present another opportunity that'll be exploited again. Speculators are not your average dumb people (plain hoarders may be). Listen to the person you quoted. There is much volatility now, so study the market very well before making predictions. The CBN said it wanted to push rates down to 306 last week, then said they'll announce a new BDC rate on Monday. They did neither in close proximity to their announcements. The market reacted in kind. The speculators are watching intently at these gaffes. Yet you're placing all your misplaced hope on the CBN that's simply on the leash of politicians who only protect their interest. Why do you think the CBN said they aren't going below N306 when some uninformed mofos think it'll go to 250 or less? Three words: Budget exchange rate. Rate goes below 305. Less money to share in Abuja, upheaval follows. Then you'd know that all of this intervention is about 2019 not about the wellbeing of some claw-faced degenerate called southpawy2k3 on Nairaland or any of the other 160m gullibles like you. Even in the EGRP Buhari is to flag-off tomorrow, there's a timeline for a full float to happen. Read it or dig harder to find out (I'm not going to share that valuable information with you although I've shared it in the past here on NL). I think the date they pegged is too far away and I've continually advocated for a free float now to end the speculation. But you keep having this pie in the sky dream that you are a Knight in shining armor trying to upend speculators... On Nairaland. How laughable. Speculators are out there making it large. They have no time to read the 2nd or 3rd page of a forgotten thread on NL. They are wolves with hands in many pies. First I made 989900 look stupid with his remittance argument, then I made you look stupid with your Monday prediction. You two mofos have no deep-down knowledge about how the market or economics works and are effectively government soundboards. Knowing the CBN website does not make you an economic expert. You don't know how to type or even express yourself clearly. Instead of saying I expect the rate to fall next week, you said it'll fall on Monday. Even Emefiele wouldn't have been so authoritative. Instead of saying the reserve has only been slightly affected by recent intervention, you said the reserve had been unchanged. Simple use of English. I could keep sampling all the copious errors you made and keep making. Having another loser prop you up doesn't make you a winner. It makes you a bitter loser. I've gone on long enough. I don't expect you to learn anything. That's like pouring water on a stone expecting it to be soaked. Now compare this exposition to the trash you've been writing (not even being able to format text properly). -Lord 2 Likes |
| Re: Naira Makes U-turn, Drops To N385 by 989900: 7:21pm On Apr 04, 2017 |
LordAdam16: |
| Re: Naira Makes U-turn, Drops To N385 by LordAdam16: 9:01pm On Apr 04, 2017 |
[quote author=989900 post=55265071][/quote] I wasn't expecting anything more. All the best. -Lord |
| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 12:21pm On Apr 05, 2017 |
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| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 12:24pm On Apr 05, 2017 |
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| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 12:26pm On Apr 05, 2017 |
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| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 12:26pm On Apr 05, 2017 |
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| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 12:27pm On Apr 05, 2017 |
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| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 12:30pm On Apr 05, 2017 |
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| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 12:30pm On Apr 05, 2017 |
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| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 12:31pm On Apr 05, 2017 |
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| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 12:31pm On Apr 05, 2017 |
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| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 12:31pm On Apr 05, 2017 |
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| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 12:34pm On Apr 05, 2017 |
LordAdam16: The only person eating his words is you. You said rate would fall on Monday, it didn't! Simple st*pid failed prediction. Nothing more. -Look at how moronic you sound. Even 989900 wouldn't have made that kind of stupid prediction nor would he have made the multiple errors you shared. First you believed that a simple $2k increase in sales to BDCs would change the direction of the market, when the major thing that has upended the market every time there was a crash since Feb 20th was excessive sales to banks not BDCs. - Mumu I never said the $2k increase on its own would crash the rate, slowpoke, the $2k increase is in addition to all existing interventions that are going to crash the rate. And try to think outside the box Mumu, the issue here isn't the $2k increase, it's a message being sent by the CBN to the BDCs and to the market, to the BDC's it is telling them if they help in stabilizing or appreciating the Naira, they will increase their allocations, and the message to the market, is that our interventions are "HERE TO STAY AND WILL BE SUSTAINED", thank God the market is not full of mumus like you. The CBN sold $240m yesterday ($150m for forwards when they normally sold $100m and $90m for invisibles when they normally sold an average of $80m, which is in the same pattern with the way they sold heavily on Feb 20th for example) and rate fell today. Your magical extra $2k per BDC the CBN sold today (note that they changed their mind from twice a week to once a week) had nothing to do with the fall today. Then you didn't notice that any sales by the CBN affected the market the next business day. Which means the only way rate could have fallen on Monday was if the CBN sold excessive dollars TO THE BANKS on Friday. These are very simple observations that any body who follows the market knows, but it was clearly lost on you. Every speculator worth his salt understands the recent volatility of the market and profits from it. CBN didn't update their reserve homepage last week, which was a sign that there's fire on the mountain and all sales was below $100m. That was a buy signal (rate was 360-370). CBN selling $240m yesterday was a sell signal (rate was 390-400). A smart speculator who purchased $10,000 made at least 200k within 6 days. You can't make that kind of profit buying bonds or T-bills or our current fluffy stock market. That's the big reveal and draw of the parallel market and why speculators are going no where. -Are these the same "Smart Speculators" who bought for 500 and sold for 400?? HAHAHA!! You see your problem mumu?? You think everything is black and white, who told you that these "Smart Speculators" that bought at a rate of 360-370, are going to find someone to sell to at 390? Which mumu (other than you) would take a risk of buying at 390 from a Speculator when the rate can again anytime crash below 390?? You see how you show how much of an amateur you are? Or do you think people are waiting in line to buy Dollars at high rates?? There is no longer any guarantee that any Speculator can buy low and sell high, the CBN has instilled fear in the parallel market segment and created a huge risk to anybody who wants to speculate and hoard. Do you know how much money Speculators lost from the Dollar crash from 520 to 370?? While you're here foaming in the mouth. The CBN would slow down again, which will present another opportunity that'll be exploited again. - So you admit that there is no scarcity but manipulation?? You see how you contradict yourself mumu, The CBN will not slow down again unless some disaster occurs, and even if it does, I will refer you mumu to the same comment above, the same way the Hoarder or Speculator will want to increase the Dollar rate to take advantage, people would want to wait till the CBN does another intervention and the rate crashes before they buy again. Don't forget Mumu Dollar is not Fuel or Food, where people need to buy immediately and urgently. Most People are always willing to wait to buy their dollars if they know after a week or two the rate will crash, and this is exactly what the CBN is doing. Ok mumu? If the dollar keeps going up and down, what will happen is that people will buy less when the dollar is Up, and people will buy more when the dollar is down, and before you know it, the volatility will reduce and confidence will be restored. Speculators are not your average dumb people (plain hoarders may be). -They are not as dumb as you are that is for sure, but they are dumb to be in this business in the first place, this business has a weak structure, no real fundamentals, and cannot be predicted. Mumus like you were saying the Naira was going to 1000 look at today. Listen to the person you quoted. There is much volatility now, so study the market very well before making predictions. - It is exactly because of this Volatility that I said the dollar may even get back to 450, the market is still adjusting,but ultimately, on the medium to long run there is only one direction for the dollar to go, and that is down, like your brains. Hoarding and Speculation is no longer as rewarding as it once was. The CBN said it wanted to push rates down to 306 last week, then said they'll announce a new BDC rate on Monday. They did neither in close proximity to their announcements. The market reacted in kind. The speculators are watching intently at these gaffes. Yet you're placing all your misplaced hope on the CBN that's simply on the leash of politicians who only protect their interest. -The speculators can watch all they like, I refer you to my above comments mumu. Why do you think the CBN said they aren't going below N306 when some uninformed mofos think it'll go to 250 or less? Three words: Budget exchange rate. Rate goes below 305. Less money to share in Abuja, upheaval follows. Then you'd know that all of this intervention is about 2019 not about the wellbeing of some claw-faced degenerate called southpawy2k3 on Nairaland or any of the other 160m gullibles like you. - Who said they aren't going to to go below N306?? Eh mumu? My guy if everybody reads and understands the way you do we are in deep trouble. They said their objective is to bring it down to N306, i.e. Reduce or completely eliminate the Spread between the Official and Parallel market, they are setting a target after that target is achieved, they can then set a new target. One step at a time Mumu. So all 160m people are gullible except you abi? Do you see how you show how retarded and arrogant you are? Even in the EGRP Buhari is to flag-off tomorrow, there's a timeline for a full float to happen. Read it or dig harder to find out (I'm not going to share that valuable information with you although I've shared it in the past here on NL). I think the date they pegged is too far away and I've continually advocated for a free float now to end the speculation. [b]-You see you are a mumu? Free float? Only someone that is either a mumu (like you) and has no clue about the Nigerian market or wants to destroy the Naira will suggest a free float. The reason is simple, a free float relies on basic market fundamentals i.e. Demand/Supply, in Nigeria that fundamental would never work because a lot of the Supply and Demand is being manipulated. Let me explain it to you in another way Mumu, so much of our Foreign exchange enters the market unofficially or illegally, and as such these traders are greedy and would want to get more Naira for their dollars, and as such they will also hoard and create artificial scarcity to induce a massive depreciation of the Naira. This will also encourage all people that have dollars, whether Nigerians in Diaspora, or exporters etc... to sell their dollars in the parallel market because the parallel market is again offering more naira for their dollars, we will then be back to square one,The only way a free float would work is if all our Foreign exchange enters the Market officially and in a fully transparent way, until that happens, a free float would be suicidal. It really pains me when I hear slowpoke suggesting a free float.[/b] But you keep having this pie in the sky dream that you are a Knight in shining armor trying to upend speculators... On Nairaland. How laughable. Speculators are out there making it large. They have no time to read the 2nd or 3rd page of a forgotten thread on NL. They are wolves with hands in many pies. -Yes I am sure they are making it large, especially when they bought for 500 and sold for 370 First I made 989900 look stupid with his remittance argument, then I made you look stupid with your Monday prediction. -You are only making yourself look stupid You two mofos have no deep-down knowledge about how the market or economics works and are effectively government soundboards. Knowing the CBN website does not make you an economic expert. -And you do? I may not be an economic expert, but I have common sense, you on the other hand are a retarded arrogant bloated mumu that knows a zero as big as your head You don't know how to type or even express yourself clearly. Instead of saying I expect the rate to fall next week, you said it'll fall on Monday. Even Emefiele wouldn't have been so authoritative. Instead of saying the reserve has only been slightly affected by recent intervention, you said the reserve had been unchanged. Simple use of English. - Since you are talking about reserves, here is the latest break down of our updated reserves mumu, so do you still think it is unsustainable mumu? but I still stand by my position that the reserve is unchanged I could keep sampling all the copious errors you made and keep making. Having another loser prop you up doesn't make you a winner. It makes you a bitter loser. I've gone on long enough. I don't expect you to learn anything. That's like pouring water on a stone expecting it to be soaked. - I told you, you should write down what I say and keep it for reference mumu Now compare this exposition to the trash you've been writing (not even being able to format text properly). - You aren't worth the effort of formatting text properly mumu
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| Re: Naira Makes U-turn, Drops To N385 by LordAdam16: 12:49pm On Apr 05, 2017 |
@southpawy2k3, Just look at how you've made a mess of the thread. Incoherent trash everywhere. Au revoir! FOWL! -Lord |
| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 1:08pm On Apr 05, 2017 |
LordAdam16: Good bye and Good riddance mumu...like I said write down what I say to educate yourself |
| Re: Naira Makes U-turn, Drops To N385 by LordAdam16: 2:24pm On Apr 05, 2017 |
southpawy2k3: Daft Deplorable! You can't educate yourself to format posts appropriately and you want to educate someone else. You've seen today's rate, now you're saying good bye. Reserve is fluctuating and you're still bold enough to say you stand by your word that it is unchanged. STUPID ILLITERATE! Why can't you answer the simple question, if yesterday is Monday? MAD APE! B*STARD! -Lord |
| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 3:08pm On Apr 05, 2017 |
LordAdam16: - How many questions did you answer idiot? Mumu Mumu Mumu...When I predict something it is based on certain actions that are expected to happen...for example mor*n when I say the rate will crash on Monday it is based on the CBN selling on Friday, if the CBN now delays the selling till Monday that doesn't mean my prediction was false idi*t...now the rate is back up because till now neither the banks nor the BDCs have been sold their dollars (I am giving a mumu like you inside information)...like a mumu like you said the speculators will try to exploit the situation and depreciate the Naira...when the sales goes through it will again crash like your brains...So Reserve is now fluctuating eh? I thought you said the reserves were going down maggot? |
| Re: Naira Makes U-turn, Drops To N385 by LordAdam16: 3:21pm On Apr 05, 2017 |
southpawy2k3: EXPENDABLE COCKROACH! You said rate will crash on Monday, it did not crash! You're here making a F**L of yourself. Answer the simple question, is yesterday Monday? Because that prediction was the basis for your use of expletives to me initially. Answer the damn question. Stop typing this trash that is an eye sore. Answer a simple question! GOAT! Can you prove the nonsense you wrote in bold? CBN sold $240m to banks on Monday (http://www.vanguardngr.com/2017/04/cbn-injects-another-240m-fx-market/), and sold $31m to BDCs on Tuesday (https://abokifx.com/news/naira-gains-as-cbn-sells-313-5m-to-bdcs-businessday). IDIOT. This is how you type rubbish every time. UNINFORMED ILLITERATE. -Lord |
| Re: Naira Makes U-turn, Drops To N385 by southpawy2k3: 4:01pm On Apr 05, 2017 |
LordAdam16: Idiot mumu on Paper and news the CBN said they sold...the accounts have been debited...but the money has not come in yet...idiot slowpoke mumu...if they indeed sold them..at what rate was it sold Ehhh idiot? The CBN has debited their accounts at rate of 360 and told them they will either refund or debit the balance based on the new rates the CBN actually uses... |
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