This is temporary.

Those hoarding the dollars will test this news like excrete.

even in kaduna, people that hid their dollars waiting for it to get to 700 naira to a dollar want to quickly sell before it crash further resulting in inflow of dollars, what is happening is a competition of personal BDCs (people who kept dollars at home for no reason) and the market BDCs, the personal BDCs have hoarded dollars for long and are now ready to sell at any given price which is affecting the market BDCs.

wake me up when it's officially 150

paschu:


That's their only stock in trade. How else do you expect them to survive?

They have tried all they could - brutal force, pegging, threat - none worked. Now they are reverting back to their area of expertise - propaganda.

They want to sustain the Naira with propaganda.

Unfortunately, the market force gives no f^&%$

Naira Depreciates you complain and remind us of how incompetent Buhari is, Naria Appreciates you also complain and remind us of how this is mere "propaganda".

Are u being paid to hate all your life, have hating and complaining made your life any better? cuz I'm totally confused.... What is it that you guys want?

Learn to appreciate good things and criticize when necessary.

I'm no fan of this govt but kudos to The Buhari Led Govt!!

CallmeGlad:
I'm not jumping up until prices of commodities starts crashing real fast

It won't be crashing anytime soon. Most of the traders around goofed by stocking their shops with goods bought when the exchange rate was around 500, owing to fear that the Naira would crash more than that.

Unfortunately, they are stuck with the old, expensive goods and they won't be selling lesser than the amount they bought it for.

Prices would only crash when old stocks are done away with and traders are able to buy new goods with the present exchange rate.

abeg make e fall o things 2 cost

The abuja moneybags are releasing their dollars into the system causing a dollar glut over there.

As long as all these wicked ppl are in power, the safest bet is still against the Nigerian system.

If i could, i would wait till dollar goes below or around 200 and buy up as much as I can.

The reason will soon show itself

naijarates2017:
This is temporary.

It is a temporary solution that could be made permanent. We just need to earn more in Dollars than we spend and we are good to go.

CallmeGlad:
I'm not jumping up until prices of commodities starts crashing real fast

This is my concern. Prices wont crash as fast as they r suppose to....greedy people everywhere. You go still dey hear na dollar cause am na dollar cause am from those retailers

Are prices of goods eg foodstuff coming down?

It's a good development

But why wait till now @CBN?
But thank God sha, they have woken up from their cluelessness

lifestyle1:
All the bridges in lagos should be fenced.

No one is jumping anywhere.

Good morning

Good idea, we are all in this together

titsqueez:
Are prices of goods eg foodstuff coming down?

Abi.

The clueless government dont know how to achieve that.

I'm hoping and praying this naira appreciation is real, sustainable and permanent. Our economy recovery depends on naira revaluation and stabilization. With naira appreciation and stabilization comes reduced inflation. Reduced inflation leads to reduced interest rate by CBN, based on monetary policy. Reduced interest rate leads to reduced bank interest rates and possibly higher loan extension to private industry. Increase activities in private practices leads to employment and job growth... and the cycle continues.

I don't know why it took CBN this long to wake up to their responsibilities. But, better late than never.

Kudos to the CBN for policy formulation and implementation. Nice one

Artificial though.

Atleast the prices of phones and other electronics should come down

lafuria1:
even in kaduna, people that hid their dollars waiting for it to get to 700 naira to a dollar want to quickly sell before it crash further resulting in inflow of dollars, what is happening is a competition of personal BDCs (people who kept dollars at home for no reason) and the market BDCs, the personal BDCs have hoarded dollars for long and are now ready to sell at any given price which is affecting the market BDCs.

but do you speculate that the cost of things generally will drop with this dollar crash? Because my clients are using this as an excuse to price ridiculously. So far, price of 300watts solar panels for instance has increased ostentatiously.

Too early to celebrate, let's watch and see if it won't hit 600

that is a good news,weldone SIr............so phone price gat to drop then ?

As Baba return naira just dey rise dey go

SuperS1Panther:
Arm chair Economists over to you -- we are listening to your broken record of the policy not being sustainable, and how this is an artificial appreciation of the Naira, as if the driving up of the exchange rate was not artificial ab initio.

Hoarders, speculators and children of hate -- how market and what do you have to say to this good news?

My brother. Half baked economist all over. Rehearsals on what they heard from lecture hall and those benefiting from recession.

Thank you Jesus. God has started doing it! Much more better things to come...

JustinSlayer69:
I know the Government is using both propaganda and dollar inflow to crash the price BUT

I change Naira to Dollar on a daily basis. On Tuesday, 2 of my colleagues changed dollars at 430 from me at 10am, by 1 pm, it had crashed to 420.

Dollar is crashing and it would benefit us all...why are some imbec1les sad because they hate APC?

Wail louder please



PS - Where are all those "prophets" who felt it was smart to predict it would rise to #600?

Apostle Suleiman 2017 prophecy, no 17

17. Dollar to exchange for N615

It still too high. When Buhari came in it was 250 so it is not yet uhuru.

Fvcked up government and their fvcked up policies

SalamRushdie:
Even when it was 160 they didnt panick so please stop all this nonsense propaganda

Epain you werey

All this praises to the government should stop. They created this mess, let them clean it up.

paschu:


That's their only stock in trade. How else do you expect them to survive?

They have tried all they could - brutal force, pegging, threat - none worked. Now they are reverting back to their area of expertise - propaganda.

They want to sustain the Naira with propaganda.

Unfortunately, the market force gives no f^&%$

But when naira was depreciating the news was everywhere(then it wasnt a propaganda) and the market gave a f^.<k ba? You see ur life. Kwontinue

femi4:
Apostle Suleiman 2017 prophecy, no 17

17. Dollar to exchange for N615

most of them are cunny, They just sit down look at trends an make possible predictions and term it prophecy, this time it back fired, dollar is 380 against his false prophecy of 600, sadly the gullible still see them as men of God

femi4:
Apostle Suleiman 2017 prophecy, no 17

17. Dollar to exchange for N615

Thank you Mr Femi.... he couldn't predict his big booty adventures would be exposed.

At that time because of the steady decline, it seemed smart to say Dollar would be 600.

I swear I wonder about those gullible enough to believe him now.

Too many fools in Nigeria, some are still complaining. Majority of Nigerians were into western slavery which they don't want anything good to come out from Nigeria.