VeeVeeMyLuv:

😂🤣 Are you ready to pay the price

Not online videos ooo.
1 on 1 teaching..

How much

Fighter2029:
Hahahah,and their online warriors has been busy writing and posting there imaginary naira gain over dollar,one day,Apc shall become a history that many will not want to remember.

Amen my brother. All I see them doing by creating more hardships for the masses and improving only their own personal pockets by 114%, is that they are trying quickly to recover back all the monies they spent in stealing another man's mandate

Candidlady:



It won't

Y'all just want this government to fail

The government is failing already

Don't mind them, they are always looking for ways to spoil the government

Candidlady:



It won't

Y'all just want this government to fail

Tunechi5:
it might oooh , were i'm following ut, it depreciating

which platform is that?

Tunechi5:
what exactly did we do to apc, whats the essence of the i and e window of what ever its been called

this how much my broker is selling dollar to me,some people are saying fake news or are you buying 1 dollar @ #100 ?

This is normal it may even still go higher than this because the demand is still high , but gradually as people get fed up with the high rates,, the demand will fall and likewise the rate

[quote author=Candidlady post=123956048]


It won't

Y'all just want this government to fail [/quotep]


Pounds today is already 1001 1£ if you don't know the damage Tinubu has done just keep quiet.

chidiokay:




There is nothing your coconut head other than craving for doom, well i have a message for you

It shall be unto you as your heart desire

Maybe it's his heart desire that's making you buy fuel 500 while he buys at #700.

XY23:


Another wishful thinker. Do you even know how forex market operates? What's our export volume as a country? Well, you can't vote bad leaders and be expecting to reap good through positive affirmation. Welcome to shegenomics. May it favour you and your family.

NA UU gET TO REPLY THOSE OLODO WEY NO SABI SIMPLE ECONOMY

chidiokay:



We all want Naira to Appreciate but it is not a rocket science, there is a process and phases that leads to desire results
So far the new administration are following the right path, the pace & reforms are good that is the basis for "our" optimism.

There is no way dollar will get to 1k if the govt keeps the proficiency and pace they exhibit now, Nigeria is not facing supernatural problems, our problems are artificial all we need is pro activeness & implementations that resonate sincerity & devotion. o tan

I can't even make any sense of your last paragraph, so i leave you to drown in your pessimism.

You are consumed with defensiveness about the new administration to reason logically. Once again, wether the new administration succeeds is NOT dependent on exchange rate of the dollar, it is dependent on the vibrancy of the economy!
It'd be very easy to make $1 = N100 if that's all that's needed. Simple, stop printing Naira - like Emefiele tried to do. But it'd mean nothing because the underlying economy will still be nonsense!

Tunechi5:
lol whats fake

Which brokerage firm is this?

Zxcvbnmghtr:
It went down and so low a few days ago. It will continue to fluctuate, high and low that's the meaning of floating which is a good thing. It will start to gradually decline once Tinubu revitalizes all productive sectors for exports. Couple with the fact that Tinubu's government is working towards creating an enabling environment for foreign investors of which so far the likes of Bill Gate and others have shown interest. So far so good.

This is the dream of an orphan that his/her parents will soon come to visit him/her. That's an endless and fruitless expectation

LordAdam16:


The parallel market has multiple echelons.

Physical (aboki) in PH will sell at a slightly different rate than one in Lagos or Kano.

P2P rate (crypto) is usually slightly higher (but can be lower when volatility is high)

Dollar card rate (for ordering and paying for stuff abroad) is way higher. The spread can go as high as 5% above the other rates.

That said, sensing weakness in the CBN's ability to intervene broadly, market makers are starting to quote higher rates. Rates fell as low as 860 last year before Meffy announced the naira redesign. The fundamentals loosely support a crash, inflation is raging and subsidies are being eliminated, creating a negative feedback loop further pushing the rate downward.

The CBN needs to take control of the situation before it spirals. We are now in a managed float regime. The operative term is managed. Time to start managing. Because the airlines have finalized plans to start pricing their tickets at N770/$1.

cc grandstar

-Lord

I really don't think the CBN has the independent ability to influence rates any more or less than it has done.

The different exchange rates and all are a fugazi. Nothing but a loophole money merchants and BDCs take advantage of

The main Koko is oil and our natural resources. And how we don't gain directly from its absolute international value due to the fact that we don't refine at commercial qtys. So we export and rebuy (which is stupid imo)

The Naira being hinged on the USD is the main clog in our financial wheels here... which is why this ongoing thing with BRICS and the war in Ukarine is a vital topic and Nigeria could be caught in the crossfires economically if they keep paying allegiance to the West

Candidlady:


It won't

Y'all just want this government to fail

It will settle at N1500. Not a matter of wanting anyone wanting the govt to fail, it has already failed. The two policies are deadly to even best performing economies.

Zxcvbnmghtr:
It went down and so low a few days ago. It will continue to fluctuate, high and low that's the meaning of floating which is a good thing. It will start to gradually decline once Tinubu revitalizes all productive sectors for exports. Couple with the fact that Tinubu's government is working towards creating an enabling environment for foreign investors of which so far the likes of Bill Gate and others have shown interest. So far so good.

You can remove export from your narration or you should name one commodity produced in Nigeria that can compete with price and quality anywhere in the world apart from crude oil.

Is it your poor quality rice at 35k while world class rice is selling for 8k across the world

femicyrus:

You can remove export from your narration or you should name one commodity produced in Nigeria that can compete with price and quality anywhere in the world apart from crude oil.

Is it your poor quality rice at 35k while world class rice is selling for 8k across the world

Hahahaha am not a pessimist. Nor am I expecting magic. I know it's possible, very very possible. You are not being patient. It must go through stages. We are only in the first phase and you all crying. We can't continue to depend on oil.

CandyOps:


I really don't think the CBN has the independent ability to influence rates any more or less than it has done.

Actually, they can.

If the CBN decides to set aside $5B for a blitzkrieg-style intervention and announce a $3B/quarter commitment for clearing backlogs; rates will fall to 650 on every market within 3 days.

The trouble is keeping that up. Banks will have to lift restrictions. Form A/Q applications will have to take days. Manufacturers and firms with large capital needs will need their requests filled within days and not be added to a backlog.

Thus, crashing the rate is not impossible. It's actually quite easy. It's the follow-through that's giving them pause. That's one reason. Possibly the primary reason. Another is that they're trying to be methodological. They've only just floated the rate and do not want to make any aggressive move just yet that'd be misinterpreted as hawkish and protectionist.

The different exchange rates and all are a fugazi. Nothing but a loophole money merchants and BDCs take advantage of

They aren't loopholes per say.

There is a business case for the rates.

Physical is less convenient, so it's cheaper.
P2P accessibility and competition is high, so best rates come out on top.
The dollar card providers have something of a monopoly that they know is ephemeral. If Pharmaceutical companies in the US can charge an arm and a leg for essential medication, you bet your hat a budding fintech firm will charge the highest rate their customers are willing to bear (inclusive of their profit margin of course).

There is parity between the I&E window is the parallel market. So it's all worked out if you ask me.

Unfortunately, in their policy document, they envisaged a 500-600 rate band. Not 750-800, which is where things have settled at now. This complicates their economic projections. From gasoline price to inflation rate.

The main Koko is oil and our natural resources. And how we don't gain directly from its absolute international value due to the fact that we don't refine at commercial qtys. So we export and rebuy (which is stupid imo)

That's not it.

It's the fact that gasoline is the primary energy source for the informal economy.

No economy of our size relies on gasoline to power a large informal economy. You can run the numbers. A liter is $1.20. How many hours do you get out of a liter in a generator on a corner shop? Whatever it is, I guarantee you it is several multiples of the $0.10 kwH rate.

This creates a drain on revenue because there is an unwritten social contract that gasoline must be cheap. So a significant part of our income goes to honoring that contract on consumption levels that are way higher than it should be.

Nigeria has the 11th highest consumption rate of Gasoline. ALL countries with higher consumption rates generate several multiples of our revenue.

Source: https://www.theglobaleconomy.com/rankings/gasoline_consumption

We're spending scarce currency on the most inefficient energy source with sh*t productivity.

If the CBN decides to spend upwards of $10B to defend the currency, it'll be because the FG fears unrest that'd be generated by N800/L gasoline price. That is a quasi-subsidy, albeit one time and with a much lower ongoing sustainment rate.

This major structural imbalance spawn a lot of horrible negative multiplier effects. More importantly, whenever there is a shock to the economic system, regardless of source, we're found wanting. And that is just gasoline. There are other imbalances that contribute in no small measure to our predicament.

The Naira being hinged on the USD is the main clog in our financial wheels here... which is why this ongoing thing with BRICS and the war in Ukarine is a vital topic and Nigeria could be caught in the crossfires economically if they keep paying allegiance to the West

All currencies hinge on the USD. The USD is the reserve currency.

The difference is that most working countries do not suffer from the same structural imbalances that plague our economy. And just as importantly, possess the requisite capacity to defend their economic interests.

When they fail, you get an Egypt, Ghana, Sri Lanka, Lebanon, Turkey. Exchange rates are out of whack and they have lots of infernos to put out.

Nigeria works when conditions are perfect. But ANY slight weather change and we start dealing with a pseudo-collapse. Capital controls, bans, and what not.

We were minding our business until Saudi Arabia decided to prosecute an Oil War with US producers in 2014. That caused the first ruckus.
We recovered somewhat in 2017. Then while we were trying to keep things together, COVID showed up and started a wildfire in 2020.
When we patch things up later this year, another crisis will throw us off course in the near future. It is inevitable.

-Lord

Am really enjoying this , una never see anything

Zxcvbnmghtr:
It went down and so low a few days ago. It will continue to fluctuate, high and low that's the meaning of floating which is a good thing. It will start to gradually decline once Tinubu revitalizes all productive sectors for exports. Couple with the fact that Tinubu's government is working towards creating an enabling environment for foreign investors of which so far the likes of Bill Gate and others have shown interest. So far so good.

what is wrong with you guys always giving stupid excuses for wrong policies,you guys did it buhari till he finished his 8years we did not see any results from his backward policies only tears blood and sorrow,you guys have started again
It's not you guys fault but nigerians

Cantonese:
The only party whose supporters justify poverty, hardship, misery and sorrow - APC.

PDP and Obi gave u growth, riches and success abi?
Hypôcrîsy.

surgical:
what is wrong with you guys always giving stupid excuses for wrong policies,you guys did it buhari till he finished his 8years we did not see any results from his backward policies only tears blood and sorrow,you guys have started again
It's not you guys fault but nigerians

You just being unreasonable to be expecting magic in less than a 3 weeks old policy which so far has been commendable.

CandyOps:


I really don't think the CBN has the independent ability to influence rates any more or less than it has done.

The different exchange rates and all are a fugazi. Nothing but a loophole money merchants and BDCs take advantage of

The main Koko is oil and our natural resources. And how we don't gain directly from its absolute international value due to the fact that we don't refine at commercial qtys. So we export and rebuy (which is stupid imo)

The Naira being hinged on the USD is the main clog in our financial wheels here... which is why this ongoing thing with BRICS and the war in Ukarine is a vital topic and Nigeria could be caught in the crossfires economically if they keep paying allegiance to the West

The CBN I feel is doing its best. It has closed the very juicy arbitrage gap in exchange rates that was the hallmark of Buharinomics. What gap are you now complaining about that the BDCs and money merchants can take advantage of. Before Tinubu, it was 461 at the official rate and 750 at the black market. Now, its about 750 at the official and 760 at the black market. In what government would these BDCs and money merchants have truly benefitted from if we need to be frank?

Yes, Nigeria exporting crude oil and importing refined products was wrong. But again, the populace wanted a fuel subsidy and paid the price for it by the nation exporting crude oil and importing refined crude. Which top 25 bank would lend you $2bn to build a 100,000 bpd refinery when the price of refined oil is sold at a subsidized price or price dictated by government?

The only reason why Dangote and Bua could borrow was they had their huge profits from their protected cement businesses to use as collateral. With the subsidy now gone, expect a massive expansion in refining capacity in the country. Tinubu is aiming for a 2mbpd refining capacity by 2030. This should be achievable.

The Dollar for many years to come will remain the reserve currency. China's Yuan is not convertible. India's Rupee stands no chance. The Russian Rouble has fallen from 50 Roubles to a Dollar in 2022 to 83 today and is still falling. Brazil Real holds nothing for the future. If you add all the BRICs countries, they do not even add up to the US economy.

Copy: Lordadam16

Spicycat:


Which brokerage firm is this?

xm forex broker

cyberguy72:
which platform is that?

paper trade......https://www.tradingview.com/chart/yKnpRhm8/?symbol=BINANCE%3AUSDTNGN

PoliteActivist:


No my dear, it's simple basic economics. When demand is more than supply prices will rise and keep rising until things even out (unless there are artificial supports). We are far from things evening out

Many Nigerians are hoarding dollars even when they have no use for it. But we will continue blaming policies as if we were not part of the unending problems

Candidlady:



It won't

Y'all just want this government to fail

Does this govt looks like what is succeeding to you? Dude, this govt is already failing massively. I'm sure u won't understand this because you're still living with your parents and they're feeding you.

Go and rent a house on your own, open a business and start hustling, start feeding yourself and paying your bills then you will understand what we're saying.

A dollar is already #800 and yet you say this govt isn't failing? Na small Pekin still dey worry you

Candidlady:



It won't

Y'all just want this government to fail

Keep playing stretch with wishful thinking. Don't make realistic decisions.

maasoap:

Many Nigerians are hoarding dollars even when they have no use for it. But we will continue blaming policies as if we were not part of the unending problems

It doesn't really matter much. No one hoards dollars more than Chinese government. There is more than enough dollars in the world - the thing is to have something that consistently brings it to Nigeria. That's why the underlying economy is really what matters. If Emefiele had succeed, naira would have been scarce - we could have had $1 = N100. But it wouldn't change much because the underlying economy was crap. It would be very hard to make that N100 and eventually wages would have to be lowered. You'd have $1 = N100 but you'd also have very serious recession if not depression!

Zxcvbnmghtr:


You just being unreasonable to be expecting magic in less than a 3 weeks old policy which so far has been commendable.

what is commendable, you are the unreasonable one here,who is just following the paid propagandist to echo untruth
The security and welfare of the people is the primary purpose of government, how well has this policies impacted the people, ithe impact have been negative, the good thing is ,it does not spare, any tribe or any member of any political party but the ruling class and the elite,I don't know which class you belong,

Candidlady:



It won't

Y'all just want this government to fail

It failed even before it started, a drug addict and crook with no identity cannot be a president. Stop dreaming.

Zxcvbnmghtr:
It went down and so low a few days ago. It will continue to fluctuate, high and low that's the meaning of floating which is a good thing. It will start to gradually decline once Tinubu revitalizes all productive sectors for exports. Couple with the fact that Tinubu's government is working towards creating an enabling environment for foreign investors of which so far the likes of Bill Gate and others have shown interest. So far so good.

Pls stop educating those dumb idiots…..
Let’s pray for the president to succeed with his revitalization policies.

seunowa:

Pls stop educating those dumb idiots…..
Let’s pray for the president to succeed with his revitalization policies.

To me he is already successful, otherwise I would have still been Obidient. But shame no allow me. Seriously.