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Nairaland Forum / Nairaland / General / Business / Currency Speculators ‘to Lose N700m (20381 Views)
Speculators Get Their Fingers Burnt, Naira Strengthens To N310/$(2016) / Speculators Lose N100m As CBN Pumps Dollars Into Interbank / I See Speculators Losing Billions Of Naira To New FX Policy – BDC Chief (2) (3) (4)
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Re: Currency Speculators ‘to Lose N700m by Nobody: 5:10pm On Mar 21, 2017 |
989900: .. it is not coming to an end bruv.. it is only making the crooks richer.. how do you explain using your cash saved for the rainy day to fight an artificial inflation.. you do not make your Naira strong by pumping $$$ into the market, you earn $$$ through International trade i.e. Crude Oil, 1 Like 1 Share |
Re: Currency Speculators ‘to Lose N700m by Elhabeeb1(m): 5:23pm On Mar 21, 2017 |
JustinSlayer69: Very correct, CBN has always been protecting the naira since the increase in demand for consumption of foreign goods and crude oil price boom. It was relative during OBJ'S time because there was really a significant inflow of foreign investment (fx) and our demand for foreign goods was not as high as it is during GEJ and now. |
Re: Currency Speculators ‘to Lose N700m by 989900: 5:47pm On Mar 21, 2017 |
LaEvilIMiss: I have an article on my profile: "N350 to $1 if I were the CBN Governor", you might want to read it to bring you up to speed with a proper breakdown and what's up. I can't post links; else I'd be banned. |
Re: Currency Speculators ‘to Lose N700m by megama: 6:45pm On Mar 21, 2017 |
RoyalBoutique:They are doing well already. Or are you a speculator?? |
Re: Currency Speculators ‘to Lose N700m by israelmao(m): 7:48pm On Mar 21, 2017 |
It's a good development there will be positive effect of this on market commodities in due course but above all Nigeria must shore up her export products in order to sustain current trend in foreign exchange. |
Re: Currency Speculators ‘to Lose N700m by ISTANDWITHBUHAR: 12:33am On Mar 22, 2017 |
Twallace: Please continue hoarding it hahaha I will be here when you come crying, Same way we warn you guys about MMM.. |
Re: Currency Speculators ‘to Lose N700m by RoyalBoutique(m): 1:54am On Mar 22, 2017 |
megama: Did you even read what you quoted? |
Re: Currency Speculators ‘to Lose N700m by Nobody: 10:29am On Mar 22, 2017 |
modath:let me answer you. Prior to this time, our earnings (crude) experienced a major setback hence, the downward in the oil revenue of the govt. Last month, the production per barrel per day rose to o'er 2 million BPD. That's a clear proof. in almost 2 years, nigeria's crude output was dangling between 1.2m and 1.4m bpd. I don't know which bank hasn't received allocation because first bank doesn't have an issue with that, for what I know. I'm aware you also have to apply as a customer who needs forex for chilling and pta to apply 2 weeks earlier. The shocking story is, there was always forex. Cbn mopped up all the USD from banks and kept it. The cbn always had forex. Now it's time for them to pump what they had hoarded back to the market. |
Re: Currency Speculators ‘to Lose N700m by Nobody: 11:22am On Mar 24, 2017 |
Twallace:I no tell you? Keep hoarding ok? Read this... https://www.nairaland.com/3700611/naira-watch-panic-grips-forex... |
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