Naira Appreciates To N435/$, As CBN Injects $180m. - Business (2)

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Naira Appreciates To N435/$, As CBN Injects $180m. - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Appreciates To N435/$, As CBN Injects $180m. (14166 Views)

Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs / Naira Watch: Naira Appreciates To N420/$ / Naira Appreciates To N455/$ As External Reserves Hit $30bn (2) (3) (4)

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Re: Naira Appreciates To N435/$, As CBN Injects $180m. by Nobody: 8:34am On Mar 21, 2017

Jesusloveyou:
Where are the wailers? Since buhari came back, the dollar is stil falling.

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by megama: 8:36am On Mar 21, 2017

richard870:
Still not good

trying. If cbn can maintain exchange rate u to 350. We clap for them. Positive

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by Nobody: 8:37am On Mar 21, 2017

dokyOloye:
Pls,let us temporarily forget d fact that I am a wailer,IPOB yoot,flattie,and worse.
Pls,can som1 tell me what will happen when there's no more dollar to 'pump'?
Cos common sense says we'll b back to square one.
I need response from preferably seasoned economists or ppl in allied professions not an online hoodlum probably camped by Aregbe in 1 mud house in Osogbo,smoking d famous Osogbo weed non stop or d ones in one warehouse wt poor ventilation in Utako?

I am neither an economists nor affiliated to one but a rationalist.
The sole aim of injecting forex into the market as at now, is to close the gap between the official and parallel rate. Once this is accomplished, CBN can now have adequate control of the market which is good. Nigeria as at now have enough in her reserve plus internally generated revenue to achieve this else they would not have embarked on the quest. Once the gap is closed and CBN now have full control over the market rates, the policies structured towards improving our trade balance can now begin to take effect. The major issue now is war against heterogeneous market rates which i believe Nigeria has adequate forex and will power to sustain and hopefully win

2 Likes

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by Ayblaize(m): 8:40am On Mar 21, 2017

DevilhimseIf:
terrorist Buhari

Let that be the last time you will call him a terrorist.. Ori eja

1 Like

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by AngelicBeing: 8:41am On Mar 21, 2017

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by Ayblaize(m): 8:42am On Mar 21, 2017

Jesusloveyou:
Where are the wailers?
Since buhari came back, the dollar is stil falling.

Wailer1

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by nopains: 8:43am On Mar 21, 2017

Brexit Mass Deportation:

To help save the economy, the Government will announce next month that the Immigration Department will start

deporting senior citizens (instead of illegals) in order to lower pensions and healthcare costs (flu jabs, walkers,

wheelchairs, free prescriptions, bus passes, tv licences etc.)

The Government has established that older people are easier to catch and, in most cases, will not remember how

to get back home.

I started to cry when I thought of you - maybe I'd never see

you again..

Then it dawned on me...

I'll see you on this forum!

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by nairascores: 8:45am On Mar 21, 2017

Injecting money would not solve the problem, what happens when you stop injecting

Money injecters

2 Likes

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by arsenal33: 8:46am On Mar 21, 2017

DevilhimseIf:
terrorist Buhari

better than your father

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by 14(m): 8:47am On Mar 21, 2017

lonelydora:
Injecting dollars into the system is just a TEMPORARY measure.

The question is, can the CBN inject $180m on a daily basis? Thats the problem with capped currency rate. You always burn dollars on a daily basis, when you can use the money to develop the country.

1 Like

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by Nobody: 8:57am On Mar 21, 2017

14:

The question is, can the CBN inject $180m on a daily basis? Thats the problem with capped currency rate. You always burn dollars on a daily basis, when you can use the money to develop the country.

Well you could...but at the same time, most of the materials needed to develop the country come in the form of imported stuff.

Like in road construction for example. How many of the excavators/diggers/graders/cranes/mixers....are made in Nigeria by Nigerian companies from scratch using Nigerian raw materials?

So if you want to construct a new road, or building...you must import most of the stuff you need...and them suppliers want to be paind in dollars. Meanwhile, you are paying the contractor in Naira. Either the exchange rate goes down...or you will be spending naira like water .....

But yes....we have to become a productive economy somehow...by increasing manufactring for export, and by diversfying the export base away from oil....to have a sustained level of dollars flowing in.

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by hedonistic: 9:05am On Mar 21, 2017

How long will this artificial propping-up and Naira appreciation bubble last? We're only worsening matters for ourselves if this fake approach is the best way we can address the problem.

Naira can only genuinely appreciate when you attract local and foreign investment here, and when our export earnings increase significantly. In other words, we have to prop up the economy, not prop up the dollar. These abokki dunderheads in power need to quit scratching the surface. We are not fooled.

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by smartty68(m): 9:05am On Mar 21, 2017

Naira still looms @ #400+ and they still tag it "APPRECIATION"

Please na Naija government please the intervention isn't making any sense. We need more effort

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by HoLEEsinner: 9:06am On Mar 21, 2017

FG subsidizing dollar...lol. only God knows who is fooling who.

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by omenkaLives(m): 9:11am On Mar 21, 2017

Someone call Reno O'mockery to come remind us who to blame for this again.

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by Chicastle: 9:31am On Mar 21, 2017

We hope our funds will not get milked oo? Ehee.later now they will start telling us that the funds were injected to make $1=1N

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by buchilino(m): 9:33am On Mar 21, 2017

ESDKING:
Not impressed until they return it to 250 they met it.

GOD BLISS U, UNTIL IT REACHES 250 OR 200, AM NOT IMPRESSED.

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by richeeyo(m): 9:48am On Mar 21, 2017

989900:
Speculators, how far?

Prophet tuberculosis what's up lipsrsealed

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by obailala(m): 9:58am On Mar 21, 2017

dokyOloye:
Pls,let us temporarily forget d fact that I am a wailer,IPOB yoot,flattie,and worse.
Pls,can som1 tell me what will happen when there's no more dollar to 'pump'?
Cos common sense says we'll b back to square one.
I need response from preferably seasoned economists or ppl in allied professions not an online hoodlum probably camped by Aregbe in 1 mud house in Osogbo,smoking d famous Osogbo weed non stop or d ones in one warehouse wt poor ventilation in Utako?

When there's no longer dollars to pump, the CBN will stop pumping, and the Naira will depreciate again to the same N530 it got to last month or even worse. This is exactly what happened sometime in October last year when the reserves dropped so low to $23billion, the CBN stopped pumping and started saving up and of course, the Naira started crashing till it got to N530.

But then since the CBN was saving, the reserves got up to $30 as at last month and the CBN could then afford to resume pumping of dollars; hence why it was amusing when people started jubilating and hailing 'a policy' of the Acting President for helping the naira appreciate earlier this month.

Meanwhile, the CBN pumping dollars these days may be sustainable if oil price stays at the current $50+ and if our boys in the creeks keep showing suffering Nigerians some mercy as has been the case in the last 3-4months. The reason the dollar was maintained at N150-N160 all through those years was simply cos oil price and sales was high and the CBN could afford to pump billions of dollars into the market regularly.

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Re: Naira Appreciates To N435/$, As CBN Injects $180m. by iykepromotions: 10:03am On Mar 21, 2017

The big question is what IF the CBN stop injecting, will the Naira still gain? For those waiting for dollar to fall as it was before or to even N350, may be waiting for a long thing. normally say, the best time to invest in an online business especially where you will be paid in other currency is NOW. Research and learn a genuine way to make money online. Naira is fast depreciating. for those still Struggling to take advantage of this dollar boost, visit this awareness thread and lloow if it can be of any help to you; www.Nairaland.Com/3430037/buying-selling-domains-really-profitable
Also do more research on your own even outside the thread to find out more how it works.

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by Abagworo(m): 10:06am On Mar 21, 2017

9jakohai:

Which you people love to pretend happened by magic...when it was like that because we had high oil prcies.

And even that N250 used to be N114 once upon a time.....

Better ask your government to make our economy more productive....not make it so that you can go back to eating imported stuff....

Sincerely I feel so sad that Buhari led Government has been pressured to return to the old ways. Naira should be devalued to at least 1000 to a Dollar if we want to be productive and develop. People have to suffer and sacrifice for us to be agitated to bring out the ingenuity in us. With this fall in Dollar all these recent buy Nigeria showmanship will die it's natural death and if care is not taken we'll lazily go back to rice importation.

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by richeeyo(m): 10:07am On Mar 21, 2017

dokyOloye:
Pls,let us temporarily forget d fact that I am a wailer,IPOB yoot,flattie,and worse.
Pls,can som1 tell me what will happen when there's no more dollar to 'pump'?
Cos common sense says we'll b back to square one.
I need response from preferably seasoned economists or ppl in allied professions not an online hoodlum probably camped by Aregbe in 1 mud house in Osogbo,smoking d famous Osogbo weed non stop or d ones in one warehouse wt poor ventilation in Utako?

We have two and the half life line to this economic approach been used by FG,

1) As long as the price of crude oil is stable and promising for now, and the millitancy attacks on our oil facility
Is no longer. This would bring in the much needed forex into the country and also improves the foreign reserves at the same time.

2) The effect of (1) above will boost the foreign reserves
Which would leave it on touched
Foreign reserves now at $30billion
Which is now a good sign for foreign investors
But we still need to take it to $35-$37billion
This would be very assuring for any investor.

(¼) from the result of (2), here comes the foreign investors gradually one after another till they start lobbying
For favours.. Then we are on a smooth road to around #240-$1.
By July ending things would have turned around seriously.
By Economic analysis
And by God Grace.

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by oyinkinola: 10:29am On Mar 21, 2017

9jakohai:

Looted cash is not necessarily enough....plus most of it is still being recovered....and some of the loot has been converted to things like landed properties.

Then some of the loot is stowed abroad...which means it can take time to recover. (We just finished recovering Abacha's loot last year).

Then what happens when we run out of looted money? IE....the sustainablility question.

....that's simple! we will take the looters to market!

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by goodnews777: 10:52am On Mar 21, 2017

That is like trade by barter. Nigeria please this is 2017. It's never done in contemporary economics. If you would ever need the dollar run like mad to buy now.
mark my world. IT WILL COME CRASHING DOWN LIKE THE WALL OF JERICHO. If you pour out water from one jug to another while one increases the other is reduced but the sum is still the same. Temporary deceptive political move to calm nerves. If have doubts call world bank officials for better explanation .

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by brownlolly(m): 10:54am On Mar 21, 2017

Rett0:
False information i guess....
It's 445 Not 435 please...

Mumu

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Re: Naira Appreciates To N435/$, As CBN Injects $180m. by Femmyfamous4u(m): 11:08am On Mar 21, 2017

dokyOloye:
Pls,let us temporarily forget d fact that I am a wailer,IPOB yoot,flattie,and worse.
Pls,can som1 tell me what will happen when there's no more dollar to 'pump'?
Cos common sense says we'll b back to square one.
I need response from preferably seasoned economists or ppl in allied professions not an online hoodlum probably camped by Aregbe in 1 mud house in Osogbo,smoking d famous Osogbo weed non stop or d ones in one warehouse wt poor ventilation in Utako?

. The fact is there for all to see. The purported daily appreciating of dollars is only temporal until FG reaches self-sufficiency in most things she imports and also diversify the economy especially with main focus on agriculture and industrialisation. It is then we can have huge non-oil export which would attract more private investors and also guarantee large inflow of forex and subsequently leads to better value of Naira

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by guychidile: 11:11am On Mar 21, 2017

drop more, let the dollar continue to fall and naira continue to appreciate daily.

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by pasydron(m): 12:29pm On Mar 21, 2017

kolajoo:
That awkward moment when you're reading this comment to find an awkward moment but there isn't any, and still you're reading this comment and you're starting to realise it says nothing important and you just wasted a couple of seconds of your life but you're still reading and you don't even know why. That's awkward... You should give me a like for wasting your time.

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by Mrmoz(m): 1:27pm On Mar 21, 2017

lonelydora:
Injecting dollars into the system is just a TEMPORARY measure.

Tell us what permanent measure that is to be taken

@ least they are doing something

1 Like

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by Tycike: 1:48pm On Mar 21, 2017

Lies, I bought dollar this morning at 490.

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by 989900: 2:33pm On Mar 21, 2017

richeeyo:

~~Prophet tuberculosis what's up~~

Re: Naira Appreciates To N435/$, As CBN Injects $180m. by emekaRaj(m): 3:21pm On Mar 21, 2017

dokyOloye:
Pls,let us temporarily forget d fact that I am a wailer,IPOB yoot,flattie,and worse.
Pls,can som1 tell me what will happen when there's no more dollar to 'pump'?
Cos common sense says we'll b back to square one.
I need response from preferably seasoned economists or ppl in allied professions not an online hoodlum probably camped by Aregbe in 1 mud house in Osogbo,smoking d famous Osogbo weed non stop or d ones in one warehouse wt poor ventilation in Utako?

Is there anyway to satisfying u ppl, if they didn't pump dollar u will say buhari doesnt want to realize Nigeria's money, if them pump u complain, he can never win with u ppl. Just pure hatred

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