Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,152,836 members, 7,817,454 topics. Date: Saturday, 04 May 2024 at 12:35 PM |
Nairaland Forum / Nairaland / General / Business / Naira Depreciates By N64 Against Dollar At FOREX Market (20936 Views)
Naira Depreciates By ₦81/$ At Foreign Exchange Market / Naira Continues Appreciation Against USD At Forex Market / Naira Depreciation: USD Supply Drops By 42% At FOREX Market Despite Binance Exit (2) (3) (4)
(1) (2) (3) (4) (Reply) (Go Down)
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by RealTrump: 7:23am On Apr 23 |
femicyrus: Saudi also defined their currency but unlike you, their reserve is $1.5T. According to nairametrics, CBN is burned $2B in approximately 1 month, in how many weeks will we finish a paltry reserve of $32B? Mind you, they have collected plenty debt against that reserve, they still collected $2B days ago. Sadly for your type, Propaganda can't be used to bring down the dollar. |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by paramakina202: 7:33am On Apr 23 |
Defending naira against the dollar is like defending Tinubu's Chicago certificate. 4 Likes |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by RealTrump: 7:34am On Apr 23 |
Tetraozonaitera: Stop wasting your time on that guy, he is only doing his 30k job which he finally confirmed yesterday. A job is a job 3 Likes |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by femicyrus(m): 7:34am On Apr 23 |
RealTrump:Your type prefer Nigerians who are poor to rather die instead of the foreign reserve to be depleted. You need a psychiatrist evaluation of your wickedness. To you, everything is politics. Rice is becoming cheaper, that does not matter because the poor should not breathe? You think we care about who the president is or his political party and his policies? The poor should breathe! No matter how it is done, it does not matter 1 Like |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Ritchiee: 7:55am On Apr 23 |
RealTrump: lol Is nairametrics CBN? The reserve went down because of FX backlogs including airline backlogs settled. Abi the about $12 billion obligation paid were taken from nairametrics yansh? Cardoso had already debunked the lie. I remember that Obasanjo left 65 billion dollars but Jonathan left 30 billion dollars for Buhari,What did they defend with $35 billion of Nigerian reserve even with the gigantic,humongous FX Nigeria was making. My joy is a couple of things are getting cheaper. I was surprise to hear yesterday that a derica of rice..maybe Nigerian...that was selling for #1200 now sells for #900. Nobody told me,I saw it myself at Mile 12. 1 kg of gas was sold at Ogudu for #1200 yesterday. Diesel price has gone down exponentially. It will trickle down and enemies of Nigeria and the people will be shamed. This is what the masses need. |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Splashme: 7:56am On Apr 23 |
Lol |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by grandstar(m): 7:57am On Apr 23 |
The true value of the Naira sits between 1,300-1,400 based on present fundamentals. Anything stronger will harm the economy. It seems Tinubu is more perturbed about a loss of face over a dwindling Naira than accepting reality. The nation needs to reinvent it. The dependence on crude oil sales for the bulk of the countryš forex is a scourge and needs to end. The focus now should be an "export or perish" mantra. The desperate clinging to a strong Naira policy will adversely affect exports growth. The government's goal should be to triple exports within 10 years, the majority being non-oil. It can only achieve this by deregulating the price of petrol which will induce massive investment into the downstream sector of the economy which has for long suffered a dearth of investment due to the subsidizing of fuel. Next, should be the deregulation of electricity prices. Let's Discos charge cost reflective tariffs, so huge investments will flood into power generation and distribution to ensure ample power supply for new factories and businesses popping up. Next should be the lowering of companies tax to less than 20%. Low corporate taxes have positive transformative economic as they lead to a surge in investments, both foreign and local boosting economic growth to the heavens. It's what many Central European countries in the EU have long implemented and with superb results. More reforms are needed but this should be a start. 2 Likes |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by OALandAgents: 8:02am On Apr 23 |
The depreciation that has been doing push-ups is starting - brace yourselves Tinubu only knows how to show shege |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by heysquare(m): 8:04am On Apr 23 |
LagosFirstSon:What is your foreign reserves meant for? Is it for embezzlement if not to defend your currency. And you people continue shouting that the reserve is depleting when NNPCL has not been remitting any money for a while now because they've sold crude oil in advance and the contract will only expired by June before they could even supply Dangote and other interested buyer and then they will have more remittance to the reserve |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Ritchiee: 8:04am On Apr 23 |
grandstar:Bookmark this. Naira will appreciate drastically soon. Things will get cheaper when it does. We want two digits not three for succour to come to the downtrodden. |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by RealTrump: 8:08am On Apr 23 |
Ritchiee: Cardoso himself said at an IMF event that he was defending the naira but said it was "unintentional," but you are here saying the CBN governor himself was wrong Whatever wants to happen, let it happen. Naija cannot scare me again, I could care less 1 Like |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by tnerro1(m): 8:11am On Apr 23 |
I just want it to come down to 500 so we can buy and keep before the election season starts, Nigerian politicians will sure to make it go up😁 |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Bennycollins: 8:25am On Apr 23 |
helinues:Because he snatched and ran away with power, do you understand now? The reason we are suffering now: he vowed to punish us for rejecting him if he wriggled his way to power. But my joy is that you his supporters are not exempted. Are you? |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by LordAdam16: 8:41am On Apr 23 |
grandstar: Tinubu and co wanted a desperate win. Otherwise the stars aligned perfectly for them to gradually lower the rate over the next 8 months to 1200 and possibly 1000 by mid next year. But the clowns lacking foresight did their usual fire brigade nonsense and wasted the golden opportunity. Liquidity was up. FPIs finally bit the bullet. Investment appetite was slowly returning. The vast majority of the major international houses backed a resurgence. The international development institutions greenlit the policies. And yet, somehow they royally f*cked up this gift. This is on Cardoso! He claims to be independent but he let the politicians pressure him into an unforced error. Would it really be so bad if the rate was currently 1400-1500 and our reserve was growing? And in the pipeline were the $2B WB loan, $6+ Eurobond, and 3 entire quarters of at least $2B per quarter in FPIs. If they'd simply kept it cool for the next two quarters, all of those FDI commitments would have started materializing by Q4. In the interim, they'd have kept up with the SAP and tax reforms. These will boost the fundamentals (government revenue is up btw) and we'd have quite some time to properly orchestrate and put in motion a holistic program to boost exports massively. But now the entire planet has caught them being naughty and they risk derailing whatever tiny progress they'd made in early Q1. Investors skipping us for Egypt and liquidity in the official market falling back to last year levels. They better pray these bad numbers and perception are transient. -Lord 7 Likes 5 Shares |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Donaldoni: 8:43am On Apr 23 |
Good news for piiiigggs But this is a temporary slip, trust me. |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by mikywonder(m): 8:44am On Apr 23 |
Dollar is never our problem |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Kukutenla: 8:50am On Apr 23 |
grandstar:How did you arrive at 1300 to 1400 figure? What are the fundamentals? You also seem to imply that raising cost of living and doing business will push us closer to an exporting nation. How will that work? How does business thrive in an environment where purchasing power is abysmal and there's less incentive to save or invest |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by NothingDoMe: 8:53am On Apr 23 |
Lol. Old news. |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Daystar7: 8:53am On Apr 23 |
femicyrus: This sounds stupid and cunny. Y'all criticized Emefiele for defending the Naira which made the poor breath excluding his principal Buhari from the criticism, today they went back to the same thing y'all criticized Emefiele for and it's letting the poor breath huh? Who una dey deceive? Price of rice is coming down so we should dance? How much was it before this demonic party took over? Didn't they criticize the price of a bag of rice at #8k? Evil doers all of you and y'all doom is near |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Kukutenla: 8:55am On Apr 23 |
heysquare:These are lies Nnpc is remitting Nnpc supplied Dangote Nnpc did not sell crude in advance Nnpc had 13 cargoes looking for buyers as at last week 3 Likes |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by tunddy(m): 8:56am On Apr 23 |
Unlock the potential of your business with hassle-free CAC registration services! From incorporation to post-registration filings, we've got you covered. Let us handle the paperwork while you focus on growing your business. Contact us today! #CACRegistration #BusinessGrowth" 0.8.1.3.2.2.8.5.2.3.3
|
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Dynamicboss: 8:58am On Apr 23 |
Tetraozonaitera: As a fellow Yoruba, that guy matter don tire me. It’s pointless to have a conversation with him. 1 Like |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Nastymods: 9:07am On Apr 23 |
More than 60 |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Ritchiee: 9:12am On Apr 23 |
RealTrump:lol You can lie sha. I don't know why you people lie so brazingly. The videos of the interview are on YouTube. Even news tabloids carried the news.
|
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by femicyrus(m): 9:38am On Apr 23 |
Daystar7:Just go through what you wrote and listen to yourself. You are happy seeing dollar going above #2000 because your principal came 3rd in a presidential election? You wanted all Nigerians to suffer as a result? Anything done to solve any problem in Nigeria, you will kick against it because Obi failed? |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Donedeal1(m): 9:43am On Apr 23 |
helinues: |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by edungene7: 9:43am On Apr 23 |
helinues:Are you this shameless |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by edungene7: 9:46am On Apr 23 |
femicyrus:You are in a state of confusion you need to see a psychiatrist ASAP |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by femicyrus(m): 9:47am On Apr 23 |
grandstar:People like you are the reason many children go to bed without food in Nigeria. Deregulate Privatize Remove subsidy Export Etc. Which one have they not done? See how much CBN invested in rice production for export, what is the result? Privatize NEPA, what is the result? Remove subsidy for petrol, what is the result? When are you going to wake up from this wickedness towards the poor masses? 1 Like |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Victor468: 9:55am On Apr 23 |
NO MORE SCHOOL FEES, IT HAS BEEN SPONSORED!!! Great news to parents and their children. You can now send your children to a good school in any part of your state; the fees will be paid on your behalf yearly. WHAT TO KNOW: 1. Registration: From ages 1 – 17 is eligible 2. Registration form: N10,000 per child. 3. Available fund yearly: N600,000 per child. 4. Maturity of fund: 12 months. 5. Duration of sponsorship: when the child attains 18 years. 6. 7. Mode of payment: School fees are paid directly to the school account upon verification. 7. Mode of registration: Online and offline. 8. Limited slots available. For more information: Call/whatsapp 07031909448. |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by Bimpe29: 9:58am On Apr 23 |
longetivity:Sure |
Re: Naira Depreciates By N64 Against Dollar At FOREX Market by femicyrus(m): 10:00am On Apr 23 |
edungene7:The destiny of this country is not tied to Obi. The earlier you all wake from this into reality the better |
Do Not EVER Invest Into Hauling Business In Nigeria........reasons...... / Bode Agusto Is Dead / Naira Weakens At Official Market, Banks Sell $584m
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 69 |