brownhawk:
u need a wake up slap. You didn't even say 1dollar to #100

Esseite:


These guys a natural liars.. if its foreign exchange from rice and beans, how come CBN just injected $141m to subsidize the exchange rate?

The increase is as a result of treasury bill and euro bonds sold of which when its time to pay, we start running pillar to post as Adeosun is already look to borrow $2.5b to pay off some local treasury bonds bought. That is why it seems the reserve has no effect on the economy.

https://www.nairaland.com/4335630/fec-okays-2.5-billion-external

https://www.nairaland.com/4336007/external-reserve-across-us-40bn

WorldRichest:



You will just die of hypertension and hatred. Since there is phobia for good news in your family, therefore your personal reserve will continue diminish till thy kingdom come.

omenkaLives:
No. It means a whole lot more than that.

1. It translates into an improvement in the country's credit rating.

2. It boosts investors' confidence in our economy.

When investors are confident in your economy, they feel very comfortable puting money in it and the more money they put in it, the more jobs they create for our teeming graduates and technicians/artisans. The more the people are employed, the less likely you are to encounter a robber out there, which means improvement in security.

The more folks are employed, the greater their means to take care of themselves and their families. Kids can be sent to better schools, they can afford better medicare, eat better food, drive better cars and live in better houses. When they purchase these things, they patronise other people therefore improving other people's lives as well, and the chain reaction goes on and on and on.

The reciprocal effect of this is more than a single comment box can contain.

God bless Nigeria.

AnodaIT:

1. Increase in GDP, purchasing power and low inflation should have more priority than credit rating.
Credit rating just means, we can borrow you money.

Investors rely more on the basics, vis security, raw materials and cheap skilled labor

If you like grow reserve to $100bn, if robbers, herdsmen and Boko Haram are still on rampage, no one is investing

AnodaIT:

1. Increase in GDP, purchasing power and low inflation should have more priority than credit rating.
Credit rating just means, we can borrow you money.

Investors rely more on the basics, vis security, raw materials and cheap skilled labor

If you like grow reserve to $100bn, if robbers, herdsmen and Boko Haram are still on rampage, no one is investing

Esseite:


These guys are natural liars.. if its foreign exchange from rice and beans, how come CBN just injected $141m to subsidize the exchange rate?

The increase is as a result of treasury bill and euro bonds sold of which when its time to pay, we start running pillar to post as Adeosun is already looking to borrow $2.5b to pay off some local treasury bonds bought. That is why it seems theI reserve has no effect on the economy.

https://www.nairaland.com/4335630/fec-okays-2.5-billion-external

https://www.nairaland.com/4336007/external-reserve-across-us-40bn

omenkaLives:
No. It means a whole lot more than that.

1. It translates into an improvement in the country's credit rating.

2. It boosts investors' confidence in our economy.

When investors are confident in your economy, they feel very comfortable puting money in it and the more money they put in it, the more jobs they create for our teeming graduates and technicians/artisans. The more the people are employed, the less likely you are to encounter a robber out there, which means improvement in security.

The more folks are employed, the greater their means to take care of themselves and their families. Kids can be sent to better schools, they can afford better medicare, eat better food, drive better cars and live in better houses. When they purchase these things, they patronise other people therefore improving other people's lives as well, and the chain reaction goes on and on and on.

The reciprocal effect of this is more than a single comment box can contain.

God bless Nigeria.

AnodaIT:

1. Increase in GDP, purchasing power and low inflation should have more priority than credit rating.
Credit rating just means, we can borrow you money.

Investors rely more on the basics, vis security, raw materials and cheap skilled labor

If you like grow reserve to $100bn, if robbers, herdsmen and Boko Haram are still on rampage, no one is investing

talk2rotman:
who external reserve help?

akelicious:
The 30-day moving average of Nigeria’s foreign external reserves last week accrued by $442.8 million or 1.07 per cent rising to $41.54 billion as at February 14, 2018 according to latest data on the website of the Central Bank of Nigeria (CBN). The reserves had reached a five year high mark last week as it crossed $41 billion on February 8, 2018, a level it last achieved in December 2013. Analysts project that the reserves will continue to accrue this year, rising to almost $50 billion. The rising exports in the country as well as the increased confidence and inflow of foreign exchange through the Nigeria Autonomous Foreign Exchange (NAFEX) window were also factors contributing to the accretion of the external reserves. The reserves has this year increased by $2.62 billion or 6.7 per cent from $38.91 billion which it was as at January 2, 2018. Last week, inflow of foreign exchange at the Nigeria Autonomous Foreign Exchange window, also known as the Investors and Exporters window stood at $789.9 million CBN director, Banking Supervision, Ahmed Abdullahi, while noting the increasing optimism in the Nigerian economy, said it is being fueled by “the fact that we have a very low risk rating in the economy and we have one of the lowest risk premium as per the debt market. “There is a very high confidence in the economy occasioned by the fact that the reserves is at the highest level and we are talking of reserves of about $42 billion at the moment. We closed the year at about $40 billion in 2017 and it has risen to about $42 billion,” he stated. The CBN has introduced several polices to increase the flow of foreign exchange into the country and stem the volatility at the foreign exchange market. Its most successful policy according to analysts is the NAFEX also known as the Investors and Exporters window which has seen an inflow of over $32.9 billion since its launch in April last year. According to analysts at FBNQuest, based on the balance of payments for the 12 months through to September 2017, the reserves at the end of January 2018 covered 15.1 months’ merchandise imports, and 10.2 months when services are added. FBNQuest analysts noted that the rapid accumulation of $12.69 billion over 12 months “is due to two sizeable Eurobond launches, a small diaspora bond issue and the recovery in oil export revenues (through the NNPC’s share of production). We have to add the CBN’s foreign exchange reforms in H1 2017 because the substantial autonomous inflows have reduced its need to supply forex to the various windows. We should stress that the data are gross and mask the swap transactions the CBN has entered into with local banks.”

http://www.akelicious.com/2018/02/nigerias-external-reserves-rise-by-11.html

Esseite:


These guys are natural liars.. if its foreign exchange from rice and beans, how come CBN just injected $141m to subsidize the exchange rate?

The increase is as a result of treasury bill and euro bonds sold of which when its time to pay, we start running pillar to post as Adeosun is already looking to borrow $2.5b to pay off some local treasury bonds bought. That is why it seems the reserve has no effect on the economy.

https://www.nairaland.com/4335630/fec-okays-2.5-billion-external

https://www.nairaland.com/4336007/external-reserve-across-us-40bn

princejenks:
am very interested in this,pls can you back up your claim that cbn injected fresh $141million into forex market to keep the naira stable cos all the info I could glean online states that the cbn injected $210 million into the interbank segment of forex market after its last monetary policy committee(mpc) sitting in November,2017.
*A statement was released by cbn in january about this,remember also mpc hasn't sat this year cos they couldn't form a quorum so when did mpc sit to authorize this fresh $141 million you've stated*

tiger28:
wailers !!!EVEN if naira came down to 1 to 1 with the dollar, you will still have something to say, this is just the beginning, you will choke soon with more good news this year.

tiger28:
ILLITERATES everywhere mhennn!!!!

Esseite:


These guys are natural liars.. if its foreign exchange from rice and beans, how come CBN just injected $141m to subsidize the exchange rate?

The increase is as a result of treasury bill and euro bonds sold of which when its time to pay, we start running pillar to post as Adeosun is already looking to borrow $2.5b to pay off some local treasury bonds bought. That is why it seems the reserve has no effect on the economy.

https://www.nairaland.com/4335630/fec-okays-2.5-billion-external

https://www.nairaland.com/4336007/external-reserve-across-us-40bn

Esseite:


These guys are natural liars.. if its foreign exchange from rice and beans, how come CBN just injected $141m to subsidize the exchange rate?

The increase is as a result of treasury bill and euro bonds sold of which when its time to pay, we start running pillar to post as Adeosun is already looking to borrow $2.5b to pay off some local treasury bonds bought. That is why it seems the reserve has no effect on the economy.

https://www.nairaland.com/4335630/fec-okays-2.5-billion-external

https://www.nairaland.com/4336007/external-reserve-across-us-40bn

AnodaIT:

1. Increase in GDP, purchasing power and low inflation should have more priority than credit rating.
Credit rating just means, we can borrow you money.

Investors rely more on the basics, vis security, raw materials and cheap skilled labor

If you like grow reserve to $100bn, if robbers, herdsmen and Boko Haram are still on rampage, no one is investing

Yankee101:
Oil prices also increased by 1.1% in the last trading day. So what's so extraordinary about this?

PrecisionFx:







No electricity.
No roads.
No Portable Water.
No jobs.
No schools.
No hospitals.
No security.
No Etc.

And yet some foooools in govt are claiming they are saving money in our foreign reserves.

Esseite:


Would rather not be lied to, lies to taxpayers is corruption.