Oyetunji Abioye

The naira recorded slight gain on Tuesday and closed at 512 against the United States dollar on the parallel market, a day after the Central Bank of Nigeria introduced a new foreign exchange policy action.

The CBN had on Monday announced its decision to begin sale of $1m weekly to each of the country’s 21 commercial banks at a rate of 375 naira to clear a backlog of demand for retail users and try to narrow the premium between the official and black market rates.

The decision was announced hours after the naira tumbled to 520/dollar on the parallel market as
scarcity of the greenback continued to weigh on the exchange rate.

http://www.nairausd.com/2017/02/naira-records-gain-closes-at-512dollar.html

Even in his grave baba they punish us

Record gain indeed ...

This Government sef !


NO COMMENT

madness

old news

And you think this is good news.
512 to 1 dollar?!!
Chai and to think that not too long ago. We were being told by this same administration when they were in the opposition that 216 to 1 dollar is astronomical.







When one idiot shout Sai Baba in 2019.
I will give him the treatment below

Rubbish...Our currency is so so fvcked up

One step forward, 10 steps backward

Good news. Something to cheer us up in this days of gloomy news.

BUHARIISCURSED:
Even in his grave baba they punish us

So how do we solve our dollar scarcity issues?

For me, we take loans, improve power and transport infrastructure, investors come, and dollars flow back in.

What is your solution?

please wake me up wen naira is equall to 1$

BUHARIISCURSED:
Even in his grave baba they punish us

smh

Economist advice needed;
Is it time to sell acquired dollars or to hold on?

alexistaiwo:
And you think this is good news.
512 to 1 dollar?!!
Chai and to think that not too long ago. We were being told by this same administration when they were in the opposition that 216 to 1 dollar is astronomical.







When one idiot shout Sai Baba in 2019.

Back when it was 200 to 1 dollar, oil prices were sky high... Above 100 per barrel.

Then we could afford to allow investors come in and take as much dollars in and out because govt had enough dollars to play with.

Once oil prices crashed to as low as 28 per barrel, we had to restrict dollars, so investors pulled out.

If oil prices were still above 100, you would be shouting say baba.

(by the way, I ain't a zombie or wailer)

When will it go back to 200, we are not even asking for the promised 1 dollar to 1 naira. Believe me we the masses are really suffering.

Am tired of nigeria sef make I go drink my......u know the rest

Please explain how the pendulumic movements of the Naira around the 500-600Naira mark an appreciation.

when it comes back to N1 to a Dollar,let me know

Lemme knw wen it gets to 215 naira per $

Did I hear Gain? Okays

rubbish.... next depreciate go be 550...

gains no dey pass 50kobo-2naira

1 step forward, 10 step backwards.




Shenjii!

One day $1-#1.

9jakohai:




Back when it was 200 to 1 dollar, oil prices were sky high... Above 100 per barrel.

Then we could afford to allow investors come in and take as much dollars in and out because govt had enough dollars to play with.

Once oil prices crashed to as low as 28 per barrel, we had to restrict dollars, so investors pulled out.

If oil prices were still above 100, you would be shouting say baba.

(by the way, I ain't a zombie or wailer)

Make una stop to Blane things on oil price and call a spade a spade.
Na only Nigeria dey sell oil?
How many other countries money crash as bad as this one?

at any rate this is goodnews

I do not understand. Please where is the gain?

APC n Buhari are d most fraudulent, deceitful n foolishfull set of pple i've ever experienced. How cn a normal govt talk abt gain in nigeria wen 1 dollar na 512 naira. Are dey high on la casera? Lai Lai mohammed, wer art though? Buhari haf finiss us!!

loomer:


Make una stop to Blane things on oil price and call a spade a spade.
Na only Nigeria dey sell oil?
How many other countries money crash as bad as this one?

1.Venezuela's currency is in a bad state.

2.Russia has had a bit of bother with its currency (they also rely heavily on oil too).

3.Saudi Arabia has no issues.....because they are running through their extensive dollars savings to keep their currnecy buoyant.

4.Nigeria, even in the time of plenty, was not earning enough money to keep N1=$1. Back in 1978....during a period of high oil prices, it was $1-N1. But we also exported , in addition to oil, groundnuts, palm oil, cotton, cocoa, tin, columbite, beninseed, coal, and so on. Now...we don't export that much non-oil wise.

5.Once oil prices fall down, restrictions on dollar flows are brought in. For example...in 2008...oil prcies fell. Soludo did what Emefiele is doing now. The difference was that he had $47bn in the foreign reserves (Buhari had $32BN when he came in) and second...oil prices went up again after a few months...to over 100usd. (It never dropped below 60USD before).

6.Of course, I am criticizing the govt, by the way. They can improve things....by spending more on increasing our non-oil exports. Problem is...that is a long term solution, and Nigerians want short term...and the govt too is waiting for oil to shoot up again.

Nigeria is finished. God we need your help. The situation in Nigeria is beyond human comprehension.