So 3 weeks after the devaluation of naira, the promises of a better and favourable forex regime, we're now back to base.
Somewhere on this forum, a fellow was advocating for the panic sales of fx sales.

Dollar traded for low as N320 at the parallel market while rates of N283 per $1 floated the air for interbank exchange rates 3 weeks ago.

CBN intervened and much more than 6 billion dollars was traded at the interbank market to calm down wavy waters.

Now the forces of market dynamics have prevailed and dollar is back to 355.

Banks still charge up to 340 for a dollar on online transactions.

Now, I beg to ask, what was the point of the whole naira devaluation stunt ?

I thought ipobian said all our problems will suddenly disappear after devaluation...

Mtchew

op, how do you drive in the dark without your headlamps and expect to get home safely?

or

how can u drive home when u dont even know where your home is?


VisionLess is this govt logo

The guy above me has said it all.

The two guys above me are drunk.

@OP, CBN is still rationing dollars. The $6m is not enough, technically dollar is still scarce.

caxim04:
The two guys above me are drunk.

@OP, CBN is still rationing dollars. The $6m is not enough, technically dollar is still scarce.

Yes, just like you technically defeated Boko haram.

Shameless government.
Shameless Southwest.
Shameless APC party

NATIONALPASTOR:

Yes, just like you technically defeated Boko haram.

Shameless government.
Shameless Southwest.
Shameless APC party

SMH