Okay, so how much is dollar selling in your area? 1# is how to to 1$ in your area?

kekakuz:
So what's has he done

Liberty90:


I know you are yoruba...nothing an Igbo man does for you is commendable. I will help your hateful mind...Dr. Ifeanyi Ubah threatened to expose those behind the artificial spike, they immediately went underground or suspended their illicit activities.

Is it a coincidence that Naira all of a sudden started to make gains after Dr. Ubah's threat? Why didn't the gain happened all these while before his threat? Common sense...use it!

Siberia101:
What has UBA done differently?

edoziebobbyyahoocom:
Go and ask buhari.

gists:

In other words, it is Dr Ubah's body language that has crashed the dollar right? clap for yourself.
.

Dudeweedlmao:


Lol, because the naira started gaining ground against the dollar doesnt mean the USD IS CRASHING
OMG.

obailala:
The body language of Ifeanyi Uba definitely forced some forex rats to release the forex they were hiding. Just the same way his statement about flooding Nigeria with fuel forced every fuel hoarding rat to release the products they were hiding in June 2015 thereby ending Nigeria's worst fuel scarcity ever. The strong statement of Buhari that he wasnt still going to devalue even if it got to N1000, that also helped to cripple the activities of the hoarders.

The lesson from these events is that, sometimes you can get something done without necessarily doing anything.

Anticabal:


Is ifeanyi no longer a tanoid or an Ipobian?

obailala:
The lesson from these events is that, sometimes you can get something done without necessarily doing anything.

obailala:
Of course he is, but what has that got to do with what I said?

Bevista:
True. Most Central Bank Governors use rhetorics a lot to drive market sentiments in line with what they want. But the trick is that the market must believe that you have the Will to act if needed.
---
I don't know if Ubah's audacious statement is responsible for the sudden appreciation of the Naira, but I do know that it can only affect the Speculative Demand component of the market. The economic fundamentals have not suddenly changed overnight, the 41 de-listed items by CBN still have to source for dollars from the parallel market. If what is driving the rate is a sudden injection of dollars into the market, the question is whether such supply is sustainable week after week to meet demand.
---
When speculative demand is discounted, the true exchange rate should be around N250 - N300. Ubah's N200/$ is impossible on a sustained basis.

Anticabal:


Everything.

olamieseun:
De guy did nothing. Who he help?

Bevista:
True. Most Central Bank Governors use rhetorics a lot to drive market sentiments in line with what they want. But the trick is that the market must believe that you have the Will to act if needed.
---
I don't know if Ubah's audacious statement is responsible for the sudden appreciation of the Naira, but I do know that it can only affect the Speculative Demand component of the market. The economic fundamentals have not suddenly changed overnight, the 41 de-listed items by CBN still have to source for dollars from the parallel market. If what is driving the rate is a sudden injection of dollars into the market, the question is whether such supply is sustainable week after week to meet demand.
---
When speculative demand is discounted, the true exchange rate should be around N250 - N300. Ubah's N200/$ is impossible on a sustained basis.

kekakuz:
So what's has he done

Bevista:

When speculative demand is discounted, the true exchange rate should be around N250 - N300. Ubah's N200/$ is impossible on a sustained basis.

Amberon:
nothing is impossible.

bettercreature:
True exchange rate should be 203,it's not normal when you are making more than 3 naira profit on a dollar

Liberty90:


I know you are yoruba...nothing an Igbo man does for you is commendable. I will help your hateful mind...Dr. Ifeanyi Ubah threatened to expose those behind the artificial spike, they immediately went underground or suspended their illicit activities.

Is it a coincidence that Naira all of a sudden started to make gains after Dr. Ubah's threat? Why didn't the gain happened all these while before his threat? Common sense...use it!