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Naira Extends Gains As Dollar Glut Hits Market - Business (2) - Nairaland

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Naira Gains As Politicians Pump ‘election Dollars’ Into Economy / Naira Gains As CBN Injects $210m Into FX Market / Naira Strengthens To N435/$ On CBN Dollar Glut (2) (3) (4)

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Re: Naira Extends Gains As Dollar Glut Hits Market by Nobody: 8:02am On Apr 21, 2017
HungerBAD:
Nice
.
Re: Naira Extends Gains As Dollar Glut Hits Market by samintegrity(m): 8:02am On Apr 21, 2017
Powerful
Re: Naira Extends Gains As Dollar Glut Hits Market by joey150(m): 8:12am On Apr 21, 2017
Why do Nigerian journalists call dollar green back??

Why not call it what it is already..Nigerian media will never report a story in clear and precise words.
Re: Naira Extends Gains As Dollar Glut Hits Market by martineverest(m): 8:14am On Apr 21, 2017
PapiSmith:
We are surely getting there... cheesy

$1 = 200 naira is still very much possible, let's do this cheesy


Tomorrow is the pool party by the way
cheesy
how will this small hotel that's not u to 2plots contain nairaland?
Re: Naira Extends Gains As Dollar Glut Hits Market by PHILipu1(m): 8:25am On Apr 21, 2017
sankky:
Ok
From N216 per dollar before this govt of many presidents came in, to N380/$. Next week we hear it has lost N50 to the dollar and so on and so forth. Back and forth story.
The funny thing is, you will hear the unscrupulous BMC internet crooks pretentiously hail this.
This govt's argument that if they had not come to power, naija would have been worse off is analogous to this my story:

MR JOHN IS TRAVELING FROM LAGOS TO ABUJA IN A PUBLIC BUS. HALF-WAY INTO THE JOURNEY WHICH HAD SO FAR GONE SMOOTHLY WITH NO ACCIDENTS OR TRAUMAS TO ANY PASSENGER, ANOTHER DRIVER COMES IN AND TAKES CONTROL OF THE STEERING WHEEL WITH THE ARGUMENT THAT HE CAN DRIVE BETTER THAN THE FIRST DRIVER.
SO, THE JOURNEY CONTINUED WITH THE SECOND DRIVER WHO CLAIMED TO KNOW HOW TO DRIVE MUCH BETTER BEING IN CHARGE OF THE WHEELS. SOMEWHERE ALONG THE ROAD, HE HAS AN ACCIDENT WHICH CAUSED A LOT OF CASUALTIES AND INJURIES TO THE PASSENGERS.
AS THE PEOPLE WAILED, HE TELLS THEM HOW LUCKY THEY WERE TO HAVE HIM AS THE DRIVER AT THE VERY TIME THE ACCIDENT HAPPENED BECAUSE HAD IT BEEN THE FIRST DRIVER WAS IN CHARGE, THE ACCIDENT WOULD HAVE BEEN MUCH MORE DEADLY. THIS IS THE ARGUMENTS AND LOGIC THAT THE BMCs ARGUE DAILY ALL OVER THE INTERNET.
.

THE FIRST DRIVER GOT THE CAR IN A GOOD WORKING CONDITION AND TOOK THE CAR ON A JOURNEY AND BECAUSE OF HIS ROUGH DRIVING (LOOTING) THE CAR WAS ALREADY DEVELOPING SOME FAULTS AND RUNNING OUT OF FUEL (FOREIGN RESERVE) BEFORE HE HANDED IT OVER TO THE NEXT DRIVER AND THE NEXT DRIVER CHECKED IT AND SAW ALL THE FAULTS AND DECIDED TO MANAGE IT SLOWLY TILL HE GETS TO THE NEXT AVAILABLE MECHANICS AND FUEL STATION TO REPAIR IT AND REFUEL IT.

WHEN CRUDE OIL WAS SELLING FOR $140,A GOOD PRESIDENT WOULD HAVE RAISE OUR RESERVE SO HIGH THAT A DOLLAR WOULD HAVE BEEN N100 THEN

6 Likes

Re: Naira Extends Gains As Dollar Glut Hits Market by mightyhaze: 8:25am On Apr 21, 2017
RIPEnglish:
Still rubbish, brought it back to how you met it on 140 for 1 dollars. undecided
lol!


I like the creativity behind ds moniker!
Re: Naira Extends Gains As Dollar Glut Hits Market by millionboi(m): 8:29am On Apr 21, 2017
PapiSmith:
We are surely getting there... cheesy

$1 = 200 naira is still very much possible, let's do this cheesy


Tomorrow is the pool party by the way
cheesy
the hustle is real.
Re: Naira Extends Gains As Dollar Glut Hits Market by MarieSucre(f): 8:29am On Apr 21, 2017
PapiSmith:
We are surely getting there... cheesy

$1 = 200 naira is still very much possible, let's do this cheesy


Tomorrow is the pool party by the way
cheesy

Why are women paying less, are they not eating as much and flexing as much.
Re: Naira Extends Gains As Dollar Glut Hits Market by frugal(m): 8:32am On Apr 21, 2017
sankky:
Ok
From N216 per dollar before this govt of many presidents came in, to N380/$. Next week we hear it has lost N50 to the dollar and so on and so forth. Back and forth story.
The funny thing is, you will hear the unscrupulous BMC internet crooks pretentiously hail this.
This govt's argument that if they had not come to power, naija would have been worse off is analogous to this my story:

MR JOHN IS TRAVELING FROM LAGOS TO ABUJA IN A PUBLIC BUS. HALF-WAY INTO THE JOURNEY WHICH HAD SO FAR GONE SMOOTHLY WITH NO ACCIDENTS OR TRAUMAS TO ANY PASSENGER, ANOTHER DRIVER COMES IN AND TAKES CONTROL OF THE STEERING WHEEL WITH THE ARGUMENT THAT HE CAN DRIVE BETTER THAN THE FIRST DRIVER.
SO, THE JOURNEY CONTINUED WITH THE SECOND DRIVER WHO CLAIMED TO KNOW HOW TO DRIVE MUCH BETTER BEING IN CHARGE OF THE WHEELS. SOMEWHERE ALONG THE ROAD, HE HAS AN ACCIDENT WHICH CAUSED A LOT OF CASUALTIES AND INJURIES TO THE PASSENGERS.
AS THE PEOPLE WAILED, HE TELLS THEM HOW LUCKY THEY WERE TO HAVE HIM AS THE DRIVER AT THE VERY TIME THE ACCIDENT HAPPENED BECAUSE HAD IT BEEN THE FIRST DRIVER WAS IN CHARGE, THE ACCIDENT WOULD HAVE BEEN MUCH MORE DEADLY. THIS IS THE ARGUMENTS AND LOGIC THAT THE BMCs ARGUE DAILY ALL OVER THE INTERNET.
We would never know now, would we?
Re: Naira Extends Gains As Dollar Glut Hits Market by Mintek: 8:41am On Apr 21, 2017
sankky:
Ok
From N216 per dollar before this govt of many presidents came in, to N380/$. Next week we hear it has lost N50 to the dollar and so on and so forth. Back and forth story.
The funny thing is, you will hear the unscrupulous BMC internet crooks pretentiously hail this.
This govt's argument that if they had not come to power, naija would have been worse off is analogous to this my story:

MR JOHN IS TRAVELING FROM LAGOS TO ABUJA IN A PUBLIC BUS. HALF-WAY INTO THE JOURNEY WHICH HAD SO FAR GONE SMOOTHLY WITH NO ACCIDENTS OR TRAUMAS TO ANY PASSENGER, ANOTHER DRIVER COMES IN AND TAKES CONTROL OF THE STEERING WHEEL WITH THE ARGUMENT THAT HE CAN DRIVE BETTER THAN THE FIRST DRIVER.
SO, THE JOURNEY CONTINUED WITH THE SECOND DRIVER WHO CLAIMED TO KNOW HOW TO DRIVE MUCH BETTER BEING IN CHARGE OF THE WHEELS. SOMEWHERE ALONG THE ROAD, HE HAS AN ACCIDENT WHICH CAUSED A LOT OF CASUALTIES AND INJURIES TO THE PASSENGERS.
AS THE PEOPLE WAILED, HE TELLS THEM HOW LUCKY THEY WERE TO HAVE HIM AS THE DRIVER AT THE VERY TIME THE ACCIDENT HAPPENED BECAUSE HAD IT BEEN THE FIRST DRIVER WAS IN CHARGE, THE ACCIDENT WOULD HAVE BEEN MUCH MORE DEADLY. THIS IS THE ARGUMENTS AND LOGIC THAT THE BMCs ARGUE DAILY ALL OVER THE INTERNET.

An incisive analogy!
Re: Naira Extends Gains As Dollar Glut Hits Market by VirginFinder: 8:45am On Apr 21, 2017
Speculators modath and EgunMogaji, over to you.
Una go hear wen!
Now I know the FG will never allow the Naira to cross the N400 red line.
Hahahahahaha
Re: Naira Extends Gains As Dollar Glut Hits Market by lilytender: 8:49am On Apr 21, 2017
RIPEnglish:
Still rubbish, brought it back to how you met it on 140 for 1 dollars. undecided


This is pathetic, your English lexis and structure is worse than Mama Piss' own. The reason is simple, Jonathan and his gang of 40 thieves have embezzled the money that should have given you sound education.

1 Like

Re: Naira Extends Gains As Dollar Glut Hits Market by dajan03: 8:49am On Apr 21, 2017
But as this naira dey strong nothing dey drop 4 market. Nigerians why? The citizens and leaders are combining to make the country miserable
Re: Naira Extends Gains As Dollar Glut Hits Market by ozoemenaca: 8:55am On Apr 21, 2017
This Government is not serious at all. Imagine where you want to encourage export you now force exporters to open NXP account with the banks and at the same time the export you are not financing and you are not able to control the expenditures of the exporters but you are here instructing the banks to buys the export proceeds at bank rates thereby making exporters not to even break-even. I don't understand, is Buhari trying to kill this country or revive it ?
Re: Naira Extends Gains As Dollar Glut Hits Market by 2shur: 9:08am On Apr 21, 2017
Dollar when will u reach 800 pls.
Re: Naira Extends Gains As Dollar Glut Hits Market by Tisham20(m): 9:13am On Apr 21, 2017
wehdone sir
Re: Naira Extends Gains As Dollar Glut Hits Market by Harbay0101(m): 9:13am On Apr 21, 2017
RIPEnglish:
Still rubbish, brought it back to how you met it on 140 for 1 dollars. undecided

Your moniker is enough to make one overlook your comment, you even said they met it 140 it's not only English you don't understand
Re: Naira Extends Gains As Dollar Glut Hits Market by modath(f): 9:27am On Apr 21, 2017
HungerBAD:
Nice.

Good News from the Government of Buhari.

To the writer below me,please be patient. The $ will soon be N120 by the time we finish locating all the Dollars your hero Jonathan and his 40 Thieves Stole.

We just recovered $43 Million.

So be patient.



sent you a mail...
Re: Naira Extends Gains As Dollar Glut Hits Market by Fourwinds: 9:58am On Apr 21, 2017
RIPEnglish:
Still rubbish, brought it back to how you met it on 140 for 1 dollars. undecided
nonsense...y are u people lying.? was it #140/$1 when GEJ left office....be true to urself for once after all ur English is RIP
Re: Naira Extends Gains As Dollar Glut Hits Market by Saxifrage12(m): 10:16am On Apr 21, 2017
sankky:
Ok
From N216 per dollar before this govt of many presidents came in, to N380/$. Next week we hear it has lost N50 to the dollar and so on and so forth. Back and forth story.
The funny thing is, you will hear the unscrupulous BMC internet crooks pretentiously hail this.
This govt's argument that if they had not come to power, naija would have been worse off is analogous to this my story:

MR JOHN IS TRAVELING FROM LAGOS TO ABUJA IN A PUBLIC BUS. HALF-WAY INTO THE JOURNEY WHICH HAD SO FAR GONE SMOOTHLY WITH NO ACCIDENTS OR TRAUMAS TO ANY PASSENGER, ANOTHER DRIVER COMES IN AND TAKES CONTROL OF THE STEERING WHEEL WITH THE ARGUMENT THAT HE CAN DRIVE BETTER THAN THE FIRST DRIVER.
SO, THE JOURNEY CONTINUED WITH THE SECOND DRIVER WHO CLAIMED TO KNOW HOW TO DRIVE MUCH BETTER BEING IN CHARGE OF THE WHEELS. SOMEWHERE ALONG THE ROAD, HE HAS AN ACCIDENT WHICH CAUSED A LOT OF CASUALTIES AND INJURIES TO THE PASSENGERS.
AS THE PEOPLE WAILED, HE TELLS THEM HOW LUCKY THEY WERE TO HAVE HIM AS THE DRIVER AT THE VERY TIME THE ACCIDENT HAPPENED BECAUSE HAD IT BEEN THE FIRST DRIVER WAS IN CHARGE, THE ACCIDENT WOULD HAVE BEEN MUCH MORE DEADLY. THIS IS THE ARGUMENTS AND LOGIC THAT THE BMCs ARGUE DAILY ALL OVER THE INTERNET.
Is funny but thats the truth.

1 Like

Re: Naira Extends Gains As Dollar Glut Hits Market by iaatmguy(m): 10:20am On Apr 21, 2017
sankky:
Ok
From N216 per dollar before this govt of many presidents came in, to N380/$. Next week we hear it has lost N50 to the dollar and so on and so forth. Back and forth story.
The funny thing is, you will hear the unscrupulous BMC internet crooks pretentiously hail this.
This govt's argument that if they had not come to power, naija would have been worse off is analogous to this my story:

MR JOHN IS TRAVELING FROM LAGOS TO ABUJA IN A PUBLIC BUS. HALF-WAY INTO THE JOURNEY WHICH HAD SO FAR GONE SMOOTHLY WITH NO ACCIDENTS OR TRAUMAS TO ANY PASSENGER, ANOTHER DRIVER COMES IN AND TAKES CONTROL OF THE STEERING WHEEL WITH THE ARGUMENT THAT HE CAN DRIVE BETTER THAN THE FIRST DRIVER.
SO, THE JOURNEY CONTINUED WITH THE SECOND DRIVER WHO CLAIMED TO KNOW HOW TO DRIVE MUCH BETTER BEING IN CHARGE OF THE WHEELS. SOMEWHERE ALONG THE ROAD, HE HAS AN ACCIDENT WHICH CAUSED A LOT OF CASUALTIES AND INJURIES TO THE PASSENGERS.
AS THE PEOPLE WAILED, HE TELLS THEM HOW LUCKY THEY WERE TO HAVE HIM AS THE DRIVER AT THE VERY TIME THE ACCIDENT HAPPENED BECAUSE HAD IT BEEN THE FIRST DRIVER WAS IN CHARGE, THE ACCIDENT WOULD HAVE BEEN MUCH MORE DEADLY. THIS IS THE ARGUMENTS AND LOGIC THAT THE BMCs ARGUE DAILY ALL OVER THE INTERNET.
your basis for comparism shows how shallow minded you are.SMH

2 Likes

Re: Naira Extends Gains As Dollar Glut Hits Market by Nobody: 10:34am On Apr 21, 2017
RIPEnglish:
Still rubbish, brought it back to how you met it on 140 for 1 dollars. undecided
As you're quick to insult, are you quick to check your grammar?
Re: Naira Extends Gains As Dollar Glut Hits Market by Sylva2147: 10:39am On Apr 21, 2017
championer:
That was how we were happy when it was coming down, next thing we know it returned to 410 to 1dollar.

Please let's stop celebrating their mess that they are trying to clean.
Nigerians are never grateful, the dollars rose up to 590 /$ and now is #380/$ yet you can not pray for it to continue appreciating. I wish the dollar continue to gain value till it becomes #1000/$ and see if there is anything you can do apart from grumbling NONSENSE!!!
Re: Naira Extends Gains As Dollar Glut Hits Market by Sylva2147: 10:40am On Apr 21, 2017
iaatmguy:
your basis for comparism shows how shallow minded you are.SMH
seconded, I thought I am the only person that notice that.

1 Like

Re: Naira Extends Gains As Dollar Glut Hits Market by Sylva2147: 10:56am On Apr 21, 2017
Fourwinds:
nonsense...y are u people lying.? was it #140/$1 when GEJ left office....be true to urself for once after all ur English is RIP
please allow the young man to continue fooling himself with his Cambodian English, this are the type of people who like criticism but will not want to go to school.
Re: Naira Extends Gains As Dollar Glut Hits Market by pelumi001(m): 11:16am On Apr 21, 2017
olujastro:
Let me use this medium to school the not-so-smart brains in the CBN on how to force down the black market rate really close to the official value of the $ which is 306 once and for all.
1. As the CBN is giving Nigerians fx at 360 for overseas fees, PTA/BTA, manufacturers, etc. The black market cannot go below 365. The CBN should gradually reduce their rate for these invisibles to say 315 till they achieve a black market rate of say 320.
2. The CBN should never officially devalue the naira which is my suspicion at the moment. Wait till we become a somewhat productive economy and have lesser import demands(petroleum products and rice) after year 2020 to float the naira. Instead of further unnecessary devaluation, float the currency now instead.
3. Lastly, as oil price is still around $50-55bbl, use a 50/50 approach to continually increase the foreign reserves and give out fx to Nigerians who genuinely need it.
Educate me more on those boded words
Re: Naira Extends Gains As Dollar Glut Hits Market by olujastro: 11:25am On Apr 21, 2017
pelumi001:

Educate me more on those boded words
PTA- Personal Travel Allowance
BTA- Business Travel Allowance
Given by the banks to those who need foreign currencies for good reasons when travelling abroad.

fx- foreign exchange

1 Like

Re: Naira Extends Gains As Dollar Glut Hits Market by ISTANDWITHBUHAR: 1:03pm On Apr 21, 2017
RIPEnglish:
Still rubbish,[b] brought it back to how you met it on 140 for 1 dollars. [/b] undecided


I can bet my life you type that thrash from you dream
Re: Naira Extends Gains As Dollar Glut Hits Market by Sylva2147: 4:29pm On Apr 21, 2017
PHILipu1:
.

THE FIRST DRIVER GOT THE CAR IN A GOOD WORKING CONDITION AND TOOK THE CAR ON A JOURNEY AND BECAUSE OF HIS ROUGH DRIVING (LOOTING) THE CAR WAS ALREADY DEVELOPING SOME FAULTS AND RUNNING OUT OF FUEL (FOREIGN RESERVE) BEFORE HE HANDED IT OVER TO THE NEXT DRIVER AND THE NEXT DRIVER CHECKED IT AND SAW ALL THE FAULTS AND DECIDED TO MANAGE IT SLOWLY TILL HE GETS TO THE NEXT AVAILABLE MECHANICS AND FUEL STATION TO REPAIR IT AND REFUEL IT.

WHEN CRUDE OIL WAS SELLING FOR $140,A GOOD PRESIDENT WOULD HAVE RAISE OUR RESERVE SO HIGH THAT A DOLLAR WOULD HAVE BEEN N100 THEN
I owed you some chicken and cool drinks to chill. in fact three gbosa for you gbosa!! gbosa!!! gbosa!!!!!!!

2 Likes

Re: Naira Extends Gains As Dollar Glut Hits Market by championer: 3:18am On Apr 24, 2017
Sylva2147:
Nigerians are never grateful, the dollars rose up to 590 /$ and now is #380/$ yet you can not pray for it to continue appreciating. I wish the dollar continue to gain value till it becomes #1000/$ and see if there is anything you can do apart from grumbling NONSENSE!!!

How did the dollar got up to 590? Who was in charge wen in it got up to 590? What was their promise before it got up to 590? How much was the dollar when they took charge?

So when u poo and u are cleaning up ur poo, I should b grateful and b prayerful so u can clean it all. Lol

Madam prayerful and grateful, its obvious u are a gullible fellow and u know nothing.
Re: Naira Extends Gains As Dollar Glut Hits Market by classicTutor(m): 5:46am On Apr 24, 2017
olujastro:
Let me use this medium to school the not-so-smart brains in the CBN on how to force down the black market rate really close to the official value of the $ which is 306 once and for all.
1. As the CBN is giving Nigerians fx at 360 for overseas fees, PTA/BTA, manufacturers, etc. the black market cannot go below 365. The CBN should gradually reduce their rate for these invisibles to say 315 till they achieve a black market rate of say 320.
2. The CBN should never officially devalue the naira which is my suspicion at the moment. Wait till we become a somewhat productive economy and have lesser import demands(petroleum products and rice) after year 2020 to float the naira. Instead of further unnecessary devaluation, float the currency now instead.
3. Lastly, as oil price is still around $50-55bbl, use a 50/50 approach to continually increase the foreign reserves and give out fx to Nigerians who genuinely need it.

Kudos to you bro!
I agreed with some of your points. But Nigeria has not riped to adopt floating/ flexible Exchange Rate. We are still underdeveloped or Developing Country with over 89% corrupt people. A mono economy with over dependence on import products.
The recent economic downturn experiencing by every Nigerians are man-made and should be tackled with man-made economics approach! If government devalues Naira today as advised by IMF more speculators, economic saboteurs and cabals will have access to penetrate the market and mop up the available FOREX leaving the economy to grumble in abject poverty.

My submission!
1. CBN need to work on their exchange rate before we can have a meaningful convergence between official rate and parallel market rate.
2. CBN needs to emback on 50/50 saving and spending mechanism.

Do you agree with me that No Theoretical Economics Policy has ever worked to solve Nigeria Economic Problem.

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