Truth234:


Lol.. Me of course, sarrki source quoted CBN stipulated BDC's rate. It doesn't really change.

Whereas, this is about the parallel market, the segment that is eating us all up, and the CBN efforts at ensuring there is enough forex liquidity for all.

Good Morning unclezuma.

unclezuma:


This is the clearest and close to home explanation anyone has ever given me instead of that

"Four Legs Good Two Legs Bad" they chant whenever you ask an important question.

“The effectiveness of the new policy depend on sustenance, while sustenance depends on continuous foreign exchange generation ..

raker300:
Someone should tell Buhari to remain wherever he is...that nigga is the opposite of goodluck.

SamuelAnyawu:
God Bless My Presido Yemi Osinbajo

seunmsg:



It is not a matter of Buhari or Osinbajo. CBN is simply flooding the market with dollars and naturally, the market will respond to the laws of demand and supply.

With this policy, we are back to the era of throwing our forex around to defend the naira so, it is nothing new or magical. The down side is that CBN may likely stop building the reserve in order to sustain this policy and any slight drop in crude production, sustainability will become an issue.

seunmsg:



It is not a matter of Buhari or Osinbajo. CBN is simply flooding the market with dollars and naturally, the market will respond to the laws of demand and supply.

With this policy, we are back to the era of throwing our forex around to defend the naira so, it is nothing new or magical. The down side is that CBN may likely stop building the reserve in order to sustain this policy and any slight drop in crude production, sustainability will become an issue.

“The effectiveness of the new policy depend on sustenance, while sustenance depends on continuous foreign exchange generation through the sales of crude oil,” said Samed Olukoya, a foreign exchange research analyst at Investors King Limited. “Another attack on any of the pipelines could disrupt the whole policy and hinder the nation from a progressive economic recovery,” he added.

Truth234:


There is nothing like flooding the market with dollars, you just need to understand how the CBN works. Currently, the institution is generating about $2.4 billion-$2.8 billion in forex a month, and since this new policy was introduced a total of $610 million ($370+$240) has been auctioned.

Meaning, the CBN is saving more than its spending, and don't forget our output is near all time low 1.6mbpd but once the trans forcado pipeline is open by the second quarter, we should be able to up our production to about 1.8mbpd-1.9mbpd and increase our revenue generation even more.

Once the manufacturers can access forex at a moderate rate, the consumer prices (inflation rate) will cool and job creation will increase. So will consumer spending and gradually the economy will once again come alive. There is no point saving all the money while the economy dies of scarcity.

Chekitaut:
Blackmarketers will be on the rush to sell out then will go after CBN dollar hoard it so that they will still be in control of the market. Until blackmarket is scrap no hope for the naira.