Saintinoo:


If I am made the CBN governor today, and I want the naira to exchange at 500 naira to a dollar, I will comfortably do that.

Just do what he did, get more dollar, sell to BDCs and mandate them to sell at a price, that's all. Its called FIXED exchange rate régime.

So, as the CBN Governor, you will get the dollars from the tree in your backyard, sell to BDCs and give them a price?

Only on Nairaland!

IkeIgboNiile:
These cheap propaganda isn't helping anyone. Fuel is still high and with the increase in electricity tariff, Nigerians are yet to feel the impact of this so called Naira gain.
We can't continue celebrating mediocrity at our expense. Leave propaganda and work, that's all we ask for.

Was is propaganda when the price went up to N1900?

Now that the price is N1100 it is propaganda.?

Typical!

ppogba:


So, as the CBN Governor, you will get the dollars from the tree in your backyard, sell to BDCs and give them a price?

Only on Nairaland!

You are ignorant of how CBN works. How do you think CBN was able to bring down the rate of dollar to naira, magic?

Why do you think CBN got the dollar they sold to BDCs? What do you think has happened to our foreign exchange reserve? What do you think CBN uses those dollars it collected in loans for?

Seems you are very ignorant and only depends on government propaganda.

emerged01:

Reserve depleted by $595m only since Tinubu became president? Did you know how was spent monthly to defend naira monthly during Emefiele? $1.5b monthly with forex backlogs of $7b and with a foreign reserve of $33.3 b. That was a messy situation.
Since you are saying Cardoso is defending naira,how much is he spending month? Remember he cleared forex backlogs of $7b that he inherited.
You want to tell me you dont know that the importation of fuel has reduced by 50%,licensing of BDCs to over 1500 from over 5000 are part of policies that are contributing to naira appreciation.Defending of naira is legal not that type of Emefiele's way of defending naira;pegging offiacial rate at 415naira while black market was 700naira,enriching blood sucking demons through forex.

You are trying to banter with one of those who just pick words on the street and start dancing naked with it at the market square.

By these words you will know them:
Defending the Naira
Fixed exchange rate
Propaganda
Prices are not coming down.

Avoid them.for the sake of your mental health.

CodeTemplar:
they are doing reverse speculation and fishing for the lowest sustainable rates they can sell.

Still speaking grammar with confidence lol

Currency is floated and determined by the force of demand and supply. If there’s higher demand it will rise again just not as crazy as the last time. CBN is going with whatever rate it closes.

helinues:


I think the Aljazeera price should be better

This man you wicked sha 😅😅😂😂

Paramount01:


So where are they getting all this #950, #900 per dollar they are seeing

It’s the black market rate in Nigeria I guess.

Before now, black market used to have higher value than normal bank or Taptap and etc. But now, it seems black market rate are now lower than those boys rate.

So we are witnessing a reverse of what we have always had.

It also depend on volume, if you’re changing anything less than $1k, they tend to buy at lower rate now for them.

They need to work on fuel price now.

ppogba

Was is propaganda when the price went up to N1900?

Now that the price is N1100 it is propaganda.?

Typical!

What made the dollar price go up? How much was the same dollar before he resumed office?

He took the dollar to N1900 from N700 so why should we celebrate this N1100?

Tjra:
I learnt of one slowpoke that got N10M loan to buy dollars when it was N1,860.

Enemies of Nigeria will forever continue to lose.

I am sure many of them are reading this comment.

Double wahala for dead bodi

ppogba:


You are trying to banter with one of those who just pick words on the street and start dancing naked with it at the market square.

By these words you will know them:
Defending the Naira
Fixed exchange rate
Propaganda
Prices are not coming down.

Avoid them.for the sake of your mental health.

Thank you jare

ppogba:


So, as the CBN Governor, you will get the dollars from the tree in your backyard, sell to BDCs and give them a price?

Only on Nairaland!

That dudes reasoning is in the stinkers for real.
Many Nigerians go to school but are uneducated.
Some still prideful as they shamefully wallow in ignorance instead of learning.

Amen ohh.
The day it hits ₦200, I will personally drive to Aso rock, demand to see Tinubu. I will carry him on my head and dance makosa..

with time. they need to finish selling old products

2shure:
Still prices of goods and services refused to drop.

porthouse7:
Ipob won't be happy, obidense won't be happy

But it doesnt seem like you are happy

LegendHero:


It’s the black market rate in Nigeria I guess.

Before now, black market used to have higher value than normal bank or Taptap and etc. But now, it seems black market rate are now lower than those boys rate.

So we are witnessing a reverse of what we have always had.

It also depend on volume, if you’re changing anything less than $1k, they tend to buy at lower rate now for them.

Can this things goes as low as #500per dollar?

The price of goods is still high . Local production should be increased in various sectors.

misreal:

You Sabi say na typo but you still highlight am ..
Actually I thought I was the only one that saw it oh ..

Me sef I go buy from Aljazeera 

We're growing Nigeria and must buy Nigerian. So I am Buying from NTA

Paramount01:



Can this things goes as low as #500per dollar?

I doubt it will even go lower than #800.

But with the Dangote refinery and new report of them selling crude in naira, nothing is impossible.

Let’s see how it goes. Fingers crossed.

Cmeo:
CBN should sustain the tempo to further bring the dollar down. We want it below 800

If you have money, go and buy Dollar into your domiciliary account. The kind speed this dollar will use to rise eh. It will pass yeast on bakery.

Cmeo:
CBN should sustain the tempo to further bring the dollar down. We want it below 800

Better

nedekid:
Amen ohh.
The day it hits ₦200, I will personally drive to Aso rock, demand to see Tinubu. I will carry him on my head and dance makosa..

LegendHero:


I doubt it will even go lower than #800.

But with the Dangote refinery and new report of them selling crude in naira, nothing is impossible.

Let’s see how it goes. Fingers crossed.

Is like this Cardoso guys working be that,though no temptation will make me go back home now

It will keep gaining strength and Nigerians shall be better for it.

Paramount01:


Is like this Cardoso guys working be that,though no temptation will make me go back home now

You mean going home to visit or relocate completely?

LegendHero:


You mean going home to visit or relocate completely?

After my study ,visit

socialmediaman:
Keep defending the naira and giving poor Nigerians hope while the rich keep buying up dollar knowing it's just a temporary measure and USD will rise again

The same circle of cluelessness all over again

keep crying and wailing

LegendHero:
Omo when I sent money to my guy 2 days ago, my body do me one kind thing like I’ve been scammed. Imagine $$ wey you go send $100 give people wey them go praise you coz like 170k go biza, now that same $100 na just normal 100k.

Naira at almost N1097, today trading almost closer to N1000.

Cardoso should just make sure it never go above 1k ever again. They should deploy every strategy and make sure it get to a certain amount and stabilize.




God bless Nigeria.

There is nothing to praise here . Nigeria is a mismanaged country . I knew when dollar use to be 13k for 100dollars. We are consumer nation ...we don't produce anything to sell to the international community aside oil
Mono economy doesn't help . Fir how long will govt stabilise the dollar.

greggng:



There is nothing to praise here . Nigeria is a mismanaged country . I knew when dollar use to be 13k for 100dollars. We are consumer nation ...we don't produce anything to sell to the international community aside oil
Mono economy doesn't help . Fir how long will govt stabilise the dollar.

So what should I do with this info now?

Curse Cardoso or what?

greggng:



There is nothing to praise here . Nigeria is a mismanaged country . I knew when dollar use to be 13k for 100dollars. We are consumer nation ...we don't produce anything to sell to the international community aside oil
Mono economy doesn't help . Fir how long will govt stabilise the dollar.

This is still a fairly new government. Let it get the basics right and let's see if other things will not follow. If you say there's nothing to praise here, did you not criticize them when the naira was dropping like a stone?

What would you say about Argentina where the peso is losing value everyday and the foreign reserve is zero. Yet inflation is about 300%. This government is taking good steps right now. Kudos to them.
What they need to tackle are the loopholes for corruption and the destructive bandits and herdsmen up north.

Paramount01:



After my study ,visit

Oh okay. When you get settled after school, you’ll long for visiting.

After my grad, I visited Naija multiple times. Even when I was on H1B back then.

socialmediaman:
Keep defending the naira and giving poor Nigerians hope while the rich keep buying up dollar knowing it's just a temporary measure and USD will rise again

The same circle of cluelessness all over again

It seems you are not happy that naira is regain strength after manipulated fall.
FYI, there is no country where their apex bank does not defend its currency