LordAdam16:


And you think anyone cares about what the CBN gives the BDCs? Some of the BDCs still sell in the Parallel market. The dollars sold by BDC is inconsequential in the market.

Dollars sold by BDCs come from IMTOs, not CBN directly. I'm patiently waiting for the new rate they want to give the BDCs.

Increasing dollar allocations to BDC will not crash the naira sustainably, increasing sales in the interbank market is what crashes the naira (and that too is an unsustainable crash). And the CBN is unwilling to do that soon because the reserves are in free fall.

Propaganda has a limit. If you have the ears of anyone in the CBN, ask them to float the Naira.

Winter is coming.

PS: The amount to be sold to BDC is still $10,000 weekly (a mere $2k increase). They just want to sell it twice (two tranches of $5k, instead of one tranche of $8k). If that's what you're expecting to crash the rate, don't hold your hopes high.

-Lord

Winter is coming for all those who are still gambling on the artificial induced scarcity of dollars we experienced in the past...the mere fact that in 2 weeks the Naira dropped from 520 to 370 confirmed what I knew all along...that the market is awash with dollars...and that those dollars are being hoarded and speculated...if that mere 2k increase to BDC should be multiplied by 3200 BDCs that amounts to 6.5 million dollars weekly or 25.6 million dollars monthly not exactly chicken change...in addition the CBN is going to sell them directly not through IMTOs...and the fact that it will be done twice a week ensures proper spread of demand...the CBN does not have to handle all demands of foreign exchange...it only needs to sustain a 20 or 30% reduction in demand on the parallel market and hoarders will sell their dollars cheaper to compensate for the reduction in demand...thereby creating a domino effect...I have always said that the structures holding the parallel market are weak and could crash any time...and this is exactly what happened recently...all it took was for CBN to inject about 2 billion dollars out of which more than half are forwards and have not even left the CBN coffers yet...with foreign reserves at 30 billion and oil prices at 50 - 55 and oil production steady you are confused if you think CBN cannot sustain these interventions...

agitator:


Hmmmmmmmmm, abeg go church and do fasting and prayer make he change. People dey talk reality u dey talk wetin one pesin dey think. When dem no do the correct thing na wetin pesin think go correct am?

Just tell me what u feel govt should have done to fight this dolla-naira saga. I really want to hear your candid opinion. Let's pull objectivity into play.

chloedogie:


Just tell me what u feel govt should have done to fight this dolla-naira saga. I really want to hear your candid opinion. Let's pull objectivity into play.

1. Uncertainty - Investors are speculators. The late appointment of ministers and uncertainty of government policy direction made investors to put their money elsewhere.

2. The useless list by CBN where importers can not apply for dollars to import certain products. When you exclude products without alternatives, then people will use all means to import them as prices will skyrocket due to scarcity and when there is scarcity there is a ready market, so people go to any length to provide the goods. Note: they were not banned, people were free to import just that you have to look for your own dollars outside the banking system.

3. Different rates of exchange: You want a foreign investor to bring in his money in dollars at an official exchange rate, but when he wants to take out is money the goes to the black market to get dollars at black market rate. Hmmmm foreign investors are no fools. They could just have assured the foreign investors to bring in their money and take out at the official rate. Government can keep a database (although Nigerian corruption will not allow) of all investors and give them at the rate or prevailing market rate. There was a time foreign airlines could not repatriate profit.

4. Creating tension in the Niger Delta by going after militants.

Lwtmb, lwkmd

southpawy2k3:


Winter is coming for all those who are still gambling on the artificial induced scarcity of dollars we experienced in the past...the mere fact that in 2 weeks the Naira dropped from 520 to 370 confirmed what I knew all along...that the market is awash with dollars...and that those dollars are being hoarded and speculated...if that mere 2k increase to BDC should be multiplied by 3200 BDCs that amounts to 6.5 million dollars weekly or 25.6 million dollars monthly not exactly chicken change...in addition the CBN is going to sell them directly not through IMTOs...and the fact that it will be done twice a week ensures proper spread of demand...the CBN does not have to handle all demands of foreign exchange...it only needs to sustain a 20 or 30% reduction in demand on the parallel market and hoarders will sell their dollars cheaper to compensate for the reduction in demand...thereby creating a domino effect...I have always said that the structures holding the parallel market are weak and could crash any time...and this is exactly what happened recently...all it took was for CBN to inject about 2 billion dollars out of which more than half are forwards and have not even left the CBN coffers yet...with foreign reserves at 30 billion and oil prices at 50 - 55 and oil production steady you are confused if you think CBN cannot sustain these interventions...

CBN pumped $2b and rate crashed. It stopped excessive pumping (excessive is the keyword) for two days and rates have started rising.

You can continue the propaganda, but we'll be here on Monday, and watch the rate continue going up even with a measly $6.5m added in the week. Dollar is scarce already. $6.5m is like a drop in the ocean. $6.5m is not $2b.

BDC operators are asking for $50k per week, and CBN is offering a measly $10k, and you're here dreaming about rate crashing solely because of a poor $2k increase.

I'm not exchanging banter with someone who thinks $6.5m will depreciate rates at the parallel market. That's beyond silly. The market wouldn't even feel it.

-Lord

chloedogie:


When it's a bad news why are u guys always happy to make comments and turn prophets of doom? It goes up to 200 u say it's a fake rise, it falls to 500 u say you knew it. If Nigeria were to be ur personal business will u always speculate bad tins for her? No white man will come here to repair tins for us we will. Learn to stay positive In life so as to lways attract positive things. Cheers all d same.

bros they always says that cause they know that our leaders brain is only filled up with urine and akam nothing Gud comes out of them unless the one that will benefit them so pls don't blame any body here

CBN pumped $2b and rate crashed. It stopped excessive pumping (excessive is the keyword) for two days and rates have started rising.

You can continue the propaganda, but we'll be here on Monday, and watch the rate continue going up even with a measly $6.5m added in the week. Dollar is scarce already. $6.5m is like a drop in the ocean. $6.5m is not $2b.

BDC operators are asking for $50k per week, and CBN is offering a measly $10k, and you're here dreaming about rate crashing solely because of a poor $2k increase.

I'm not exchanging banter with someone who thinks $6.5m will depreciate rates at the parallel market. That's beyond silly. The market wouldn't even feel it.

-Lord[/quote]

dollar is scarce already? hahaha you people are funny...how can something that was in abundance two days ago suddenly become scarce? use your brains...there is no logic in that statement...it is not scarce...the hoarders and speculators for the second time are not selling their dollars in the hope that the naira will depreciate...that is manipulation...that is not scarcity!! BDCs off course will say they need 50k per week...and if they don't get it....they will try and depreciate the naira the way they are doing now...For God's sake the World bank reported in the year 2015 Nigeria received 26 billion dollars from Nigerians in Diaspora..in 2016 35 billion dollars..and this is all without oil money and exporters dollars and international loans...and you are here blowing grammar and telling me dollars are scarce...most of Nigerians in Diaspora send their money through illegal IMTOs operated by BDCs...it is very simple...a BDC opens an account in UK and account here...a Nigerian pays the BDC in pound to send to his family and the BDC in return gives the family here in Naira (this is how one of my friends in the UK sends his money to his family in Nigeria and there are millions like that)....the reason Nigerians in diaspora would patronize them is because they can get more naira for their dollars on the parallel market rate...when the CBN crashes the Parallel market rate, and the difference between the parallel market rate and BDC rate are minimal then Nigerians in diaspora will send to their families on the official market thereby triggering mass inflows of foreign exchange into the official market...the BDCs/Hoarders/Speculators are trying to depreciate the Naira so that Nigerians in Diaspora will patronize them again...do not forget that three days ago the parallel market rate became cheaper than the BDC rate...but the problem with this is that the BDCs might get into another mess if they depreciate the Naira and the CBN does another intervention...then they would again be left with dollars that they bought at a high price and nobody wants to buy....they are simply arm twisting the CBN so that it increase their weekly allocations...so that we can be under the mercy of BDC crooks...they operate the same way oil marketers do...always creating artificial scarcity...what is happening right now is simply a war between the CBN and BDCs..either the CBN has the ability to fight them....or it will concede to their demands in the interest of the naira appreciating....whichever way..continue dreaming...the CBN intervention has sent a strong message...to all hoarder and speculators..it is no longer business as usual...where you buy low and sell high...today there is no guarantee to anyone that if they buy low they can sell high...the risk is too high...this on its own will deter them and make them think twice...they pumped 2 billion dollars yet our foreign reserves remain unchanged...what does that say? When the CBN keeps repeating like a broken record so that confused people like you can get it through their heads..they are SUSTAINING IT!!!
It is only normal when the market has been starved of Foreign exchange for months that the first intervention will be a massive 2 billion dollars...there is a massive backlog..and as a result the first intervention has to be massive...yes 6.5 million dollars per week is measly...but when you add that to the 25 million dollars already that the BDCs get that is 31.5 million dollars weekly and 120 million dollars monthly...add to that 100 million dollars weekly interventions on the interbank...Write down what I am saying so that it can be a source of information for you in the future...try and think outside the box and read the market signals...things aren't always black and white

LordAdam16:


CBN pumped $2b and rate crashed. It stopped excessive pumping (excessive is the keyword) for two days and rates have started rising.

You can continue the propaganda, but we'll be here on Monday, and watch the rate continue going up even with a measly $6.5m added in the week. Dollar is scarce already. $6.5m is like a drop in the ocean. $6.5m is not $2b.

BDC operators are asking for $50k per week, and CBN is offering a measly $10k, and you're here dreaming about rate crashing solely because of a poor $2k increase.

I'm not exchanging banter with someone who thinks $6.5m will depreciate rates at the parallel market. That's beyond silly. The market wouldn't even feel it.

-Lord

dollar is scarce already? hahaha you people are funny...how can something that was in abundance two days ago suddenly become scarce? use your brains...there is no logic in that statement...it is not scarce...the hoarders and speculators for the second time are not selling their dollars in the hope that the naira will depreciate...that is manipulation...that is not scarcity!! BDCs off course will say they need 50k per week...and if they don't get it....they will try and depreciate the naira the way they are doing now...For God's sake the World bank reported in the year 2015 Nigeria received 26 billion dollars from Nigerians in Diaspora..in 2016 35 billion dollars..and this is all without oil money and exporters dollars and international loans...and you are here blowing grammar and telling me dollars are scarce...most of Nigerians in Diaspora send their money through illegal IMTOs operated by BDCs...it is very simple...a BDC opens an account in UK and account here...a Nigerian pays the BDC in pound to send to his family and the BDC in return gives the family here in Naira (this is how one of my friends in the UK sends his money to his family in Nigeria and there are millions like that)....the reason Nigerians in diaspora would patronize them is because they can get more naira for their dollars on the parallel market rate...when the CBN crashes the Parallel market rate, and the difference between the parallel market rate and BDC rate are minimal then Nigerians in diaspora will send to their families on the official market thereby triggering mass inflows of foreign exchange into the official market...the BDCs/Hoarders/Speculators are trying to depreciate the Naira so that Nigerians in Diaspora will patronize them again...do not forget that three days ago the parallel market rate became cheaper than the BDC rate...but the problem with this is that the BDCs might get into another mess if they depreciate the Naira and the CBN does another intervention...then they would again be left with dollars that they bought at a high price and nobody wants to buy....they are simply arm twisting the CBN so that it increase their weekly allocations...so that we can be under the mercy of BDC crooks...they operate the same way oil marketers do...always creating artificial scarcity...what is happening right now is simply a war between the CBN and BDCs..either the CBN has the ability to fight them....or it will concede to their demands in the interest of the naira appreciating....whichever way..continue dreaming...the CBN intervention has sent a strong message...to all hoarder and speculators..it is no longer business as usual...where you buy low and sell high...today there is no guarantee to anyone that if they buy low they can sell high...the risk is too high...this on its own will deter them and make them think twice...they pumped 2 billion dollars yet our foreign reserves remain unchanged...what does that say? When the CBN keeps repeating like a broken record so that confused people like you can get it through their heads..they are SUSTAINING IT!!!
It is only normal when the market has been starved of Foreign exchange for months that the first intervention will be a massive 2 billion dollars...there is a massive backlog..and as a result the first intervention has to be massive...yes 6.5 million dollars per week is measly...but when you add that to the 25 million dollars already that the BDCs get that is 31.5 million dollars weekly and 120 million dollars monthly...add to that 100 million dollars weekly interventions on the interbank...Write down what I am saying so that it can be a source of information for you in the future...try and think outside the box and read the market signals...things aren't always black and white

southpawy2k3:


dollar is scarce already? hahaha you people are funny...how can something that was in abundance two days ago suddenly become scarce? use your brains...there is no logic in that statement...it is not scarce...the hoarders and speculators for the second time are not selling their dollars in the hope that the naira will depreciate...that is manipulation...that is not scarcity!! BDCs off course will say they need 50k per week...and if they don't get it....they will try and depreciate the naira the way they are doing now...For God's sake the World bank reported in the year 2015 Nigeria received 26 billion dollars from Nigerians in Diaspora..in 2016 35 billion dollars..and this is all without oil money and exporters dollars and international loans...and you are here blowing grammar and telling me dollars are scarce...most of Nigerians in Diaspora send their money through illegal IMTOs operated by BDCs...it is very simple...a BDC opens an account in UK and account here...a Nigerian pays the BDC in pound to send to his family and the BDC in return gives the family here in Naira (this is how one of my friends in the UK sends his money to his family in Nigeria and there are millions like that)....the reason Nigerians in diaspora would patronize them is because they can get more naira for their dollars on the parallel market rate...when the CBN crashes the Parallel market rate, and the difference between the parallel market rate and BDC rate are minimal then Nigerians in diaspora will send to their families on the official market thereby triggering mass inflows of foreign exchange into the official market...the BDCs/Hoarders/Speculators are trying to depreciate the Naira so that Nigerians in Diaspora will patronize them again...do not forget that three days ago the parallel market rate became cheaper than the BDC rate...but the problem with this is that the BDCs might get into another mess if they depreciate the Naira and the CBN does another intervention...then they would again be left with dollars that they bought at a high price and nobody wants to buy....they are simply arm twisting the CBN so that it increase their weekly allocations...so that we can be under the mercy of BDC crooks...they operate the same way oil marketers do...always creating artificial scarcity...what is happening right now is simply a war between the CBN and BDCs..either the CBN has the ability to fight them....or it will concede to their demands in the interest of the naira appreciating....whichever way..continue dreaming...the CBN intervention has sent a strong message...to all hoarder and speculators..it is no longer business as usual...where you buy low and sell high...today there is no guarantee to anyone that if they buy low they can sell high...the risk is too high...this on its own will deter them and make them think twice...they pumped 2 billion dollars yet our foreign reserves remain unchanged...what does that say? When the CBN keeps repeating like a broken record so that confused people like you can get it through their heads..they are SUSTAINING IT!!!
It is only normal when the market has been starved of Foreign exchange for months that the first intervention will be a massive 2 billion dollars...there is a massive backlog..and as a result the first intervention has to be massive...yes 6.5 million dollars per week is measly...but when you add that to the 25 million dollars already that the BDCs get that is 31.5 million dollars weekly and 120 million dollars monthly...add to that 100 million dollars weekly interventions on the interbank...Write down what I am saying so that it can be a source of information for you in the future...try and think outside the box and read the market signals...things aren't always black and white

Winter is coming.

Look at the screenshot.

PS: As I said, exchanging a banter with you is a useless endeavor. Make what you want of the signals that are so glaring. It changes nothing.

-Lord

LordAdam16:




Winter is coming.

Look at the screenshot.

PS: As I said, exchanging a banter with you is a useless endeavor. Make what you want of the signals that are so glaring. It changes nothing.

-Lord

Is this guy for real What you just sent even strengthens my statements...a mere 40 million dollar drop on our foreign reserves when we have injected 2 billion dollars? Thank you for making my day...now I am sure the CBN can really fight to save the naira...What you just sent means squat...it only means the CBN is comfortable with our foreign reserves at 30 billion dollars and would no longer focus on building on our foreign reserves in the short run and rather focus all its dollar inflows on crashing the dollar...imagine CBN was able to build our foreign reserves by 7 billion dollars in 4 months...and yet you are foolishly sending me a 40 million dollar drop? Look man....like I said Mr. Game of thrones try with your limited brains to think outside the box...go ahead and hoard and buy dollars and sleep next to them I am tired of talking to you

southpawy2k3:


Is this guy for real What you just sent even strengthens my statements...a mere 40 million dollar drop on our foreign reserves when we have injected 2 billion dollars? Thank you for making my day...now I am sure the CBN can really fight to save the naira...What you just sent means squat...it only means the CBN is comfortable with our foreign reserves at 30 billion dollars and would no longer focus on building on our foreign reserves in the short run and rather focus all its dollar inflows on crashing the dollar...imagine CBN was able to build our foreign reserves by 7 billion dollars in 4 months...and yet you are foolishly sending me a 60 million dollar drop? Look man....like I said Mr. Game of thrones try with your limited brains to think outside the box...go ahead and hoard and buy dollars and sleep next to them I am tired of talking to you

If you don't even know the implications of that $40m drop in reserve, then yes, I'm justified in not exchanging banter with you.

Look at the screenshot.

This is my last reply to you.

The CBN can sell cheap dollars all year round. But when their party ends, the gains will be eroded. Like sand in the wind.

-Lord

LordAdam16:




If you don't even know the implications of that $40m drop in reserve, then yes, I'm justified in not exchanging banter with you.

Look at the screenshot.

This is my last reply to you.

The CBN can sell cheap dollars all year round. But when their party ends, the gains will be eroded. Like sand in the wind.

-Lord

It might even get to 450 before it will crash again....what's your point? I won't repeat myself...go and read how I tried to educate you for the reason it is depreciating again...so 370 to a dollar is now cheap abi??

Please educate me...what does a 40 million dollar drop in reserve out of 30.4 billion dollars mean?? Please I want to learn

PS I just spoke to one mallam he told me the rate is 392 but they aren't selling...so I just have two questions for you...1) Is not selling the same as scarcity? 2) what will happen to the rate when Mallams start selling again??

southpawy2k3:


It might even get to 450 before it will crash again....what's your point? I won't repeat myself...go and read how I tried to educate you for the reason it is depreciating again...so 370 to a dollar is now cheap abi??

Please educate me...what does a 40 million dollar drop in reserve out of 30.4 billion dollars mean?? Please I want to learn

PS I just spoke to one mallam he told me the rate is 392 but they aren't selling...so I just have two questions for you...1) Is not selling the same as scarcity? 2) what will happen to the rate when Mallams start selling again??

LordAdam16:




If you don't even know the implications of that $40m drop in reserve, then yes, I'm justified in not exchanging banter with you.

Look at the screenshot.

This is my last reply to you.

The CBN can sell cheap dollars all year round. But when their party ends, the gains will be eroded. Like sand in the wind.

-Lord

Don't make me repeat myself again. Just tell yourself whatever you like to sleep well at night. Neither of us work in CBN, so holding differing opinions is perfectly okay.

If you want to have the last word, so be it.

But please understand that I ain't replying you again.

You've moved from rates are crashing on Monday SOLELY because of an additional $6.5m that wouldn't be sold on Monday but on Thursday (look up the schedule). Then you said, reserves haven't reduced even with current intervention. Now you've moved on to "it might even crash to 450 before it will crash again."

Now read back your replies and mine (including the screenshots), and answer this question, if you're in my shoes would you keep discussing with you right now, after so many fallacies and somersaults?

You don't want to learn, you just want to keep arguing to desperately prove to yourself that you aren't wrong. And quite frankly, I'm not interested.

It's a classic waste of time.

Again, please understand that I ain't replying you again.

-Lord

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LordAdam16:




Don't make me repeat myself again. Just tell yourself whatever you like to sleep well at night. Neither of us work in CBN, so holding differing opinions is perfectly okay.

If you want to have the last word, so be it.

But please understand that I ain't replying you again.

You've moved from rates are crashing on Monday SOLELY because of an additional $6.5m that wouldn't be sold on Monday but on Thursday (look up the schedule). Then you said, reserves haven't reduced even with current intervention. Now you've moved on to "it might even crash to 450 before it will crash again."

Now read back your replies and mine (including the screenshots), and answer this question, if you're in my shoes would you keep discussing with you right now, after so many fallacies and somersaults?

You don't want to learn, you just want to keep arguing to desperately prove to yourself that you aren't wrong. And quite frankly, I'm not interested.

It's a classic waste of time.

Again, please understand that I ain't replying you again.

-Lord

Jesus!!!! My man you are either very daft or very confused...go and reread what I said

LordAdam16:




Don't make me repeat myself again. Just tell yourself whatever you like to sleep well at night. Neither of us work in CBN, so holding differing opinions is perfectly okay.

If you want to have the last word, so be it.

But please understand that I ain't replying you again.

You've moved from rates are crashing on Monday SOLELY because of an additional $6.5m that wouldn't be sold on Monday but on Thursday (look up the schedule). Then you said, reserves haven't reduced even with current intervention. Now you've moved on to "it might even crash to 450 before it will crash again."

Now read back your replies and mine (including the screenshots), and answer this question, if you're in my shoes would you keep discussing with you right now, after so many fallacies and somersaults?

You don't want to learn, you just want to keep arguing to desperately prove to yourself that you aren't wrong. And quite frankly, I'm not interested.

It's a classic waste of time.

Again, please understand that I ain't replying you again.

-Lord

Here....

this is from your nairametrics page :

CBN Inflows

Data from the CBN shows oil inflows for January and February was $615 million and $842 million respectively.
Non-oil inflows is currently at $1.9 billion and $1.5 billion for January and February respectively.
Both oil and non-oil inflows pass through the CBN.
Total cash inflows from autonomous sources was $2.1 billion and $2,9 billion for January and February respectively. It was about $4.2 billion in December 2016.
Total cash inflows from autonomous sources was $2.1 billion and $2,9 billion for January and February respectively. It was about $4.2 billion in December 2016.
Total cash inflows into domiciliaroy accounts (which is a major portion of inflows into autonomous sources) about $1.2 billion and $1.7 billion for January and February respectively.

http://nairametrics.com/external-reserves-for-march-remain-steady-at-30-billion/

Now please cross check these values the CBN recorded as inflows on Jan and Feb 2017 versus what it intervened with and ask yourself whether you truly believe that this is unsustainable

southpawy2k3:


Jesus!!!! My man you are either very daft or very confused...go and reread what I said

southpawy2k3:
To all you wailers and naysayers...do not be fooled...the Naira is even going to appreciate more than before...everytime the CBN is about to announce a new policy...coincidentally the Naira starts depreciating before it appreciates massively..this means that moves that the CBN is about to make is being leaked to BDCs ie Speculators ...before it is announced...in this case...today..the CBN announced that it is increasing dollar sales to BDCs starting next week Monday and will sell BDCs twice a week...the reason the Naira depreciated today is because greedy black market dealers want to take advantage from now till Monday when the dollar begins to crash...mark my words

Sentences in bold to prove Statement 1

LordAdam16:

You've moved from rates are crashing on Monday SOLELY because of an additional $6.5m that wouldn't be sold on Monday but on Thursday (look up the schedule).

southpawy2k3:

dollar is scarce already? hahaha you people are funny...how can something that was in abundance two days ago suddenly become scarce? use your brains...there is no logic in that statement...it is not scarce...the hoarders and speculators for the second time are not selling their dollars in the hope that the naira will depreciate...that is manipulation...that is not scarcity!! BDCs off course will say they need 50k per week...and if they don't get it....they will try and depreciate the naira the way they are doing now...For God's sake the World bank reported in the year 2015 Nigeria received 26 billion dollars from Nigerians in Diaspora..in 2016 35 billion dollars..and this is all without oil money and exporters dollars and international loans...and you are here blowing grammar and telling me dollars are scarce...most of Nigerians in Diaspora send their money through illegal IMTOs operated by BDCs...it is very simple...a BDC opens an account in UK and account here...a Nigerian pays the BDC in pound to send to his family and the BDC in return gives the family here in Naira (this is how one of my friends in the UK sends his money to his family in Nigeria and there are millions like that)....the reason Nigerians in diaspora would patronize them is because they can get more naira for their dollars on the parallel market rate...when the CBN crashes the Parallel market rate, and the difference between the parallel market rate and BDC rate are minimal then Nigerians in diaspora will send to their families on the official market thereby triggering mass inflows of foreign exchange into the official market...the BDCs/Hoarders/Speculators are trying to depreciate the Naira so that Nigerians in Diaspora will patronize them again...do not forget that three days ago the parallel market rate became cheaper than the BDC rate...but the problem with this is that the BDCs might get into another mess if they depreciate the Naira and the CBN does another intervention...then they would again be left with dollars that they bought at a high price and nobody wants to buy....they are simply arm twisting the CBN so that it increase their weekly allocations...so that we can be under the mercy of BDC crooks...they operate the same way oil marketers do...always creating artificial scarcity...what is happening right now is simply a war between the CBN and BDCs..either the CBN has the ability to fight them....or it will concede to their demands in the interest of the naira appreciating....whichever way..continue dreaming...the CBN intervention has sent a strong message...to all hoarder and speculators..it is no longer business as usual...where you buy low and sell high...today there is no guarantee to anyone that if they buy low they can sell high...the risk is too high...this on its own will deter them and make them think twice...they pumped 2 billion dollars yet our foreign reserves remain unchanged...what does that say? When the CBN keeps repeating like a broken record so that confused people like you can get it through their heads..they are SUSTAINING IT!!!
It is only normal when the market has been starved of Foreign exchange for months that the first intervention will be a massive 2 billion dollars...there is a massive backlog..and as a result the first intervention has to be massive...yes 6.5 million dollars per week is measly...but when you add that to the 25 million dollars already that the BDCs get that is 31.5 million dollars weekly and 120 million dollars monthly...add to that 100 million dollars weekly interventions on the interbank...Write down what I am saying so that it can be a source of information for you in the future...try and think outside the box and read the market signals...things aren't always black and white

Sentence in bold to prove sentence 2.

Then you said, reserves haven't reduced even with current intervention.

Now you've moved on to "it might even crash to 450 before it will crash again."

southpawy2k3:


It might even get to 450 before it will crash again....what's your point? I won't repeat myself...go and read how I tried to educate you for the reason it is depreciating again...so 370 to a dollar is now cheap abi??

Please educate me...what does a 40 million dollar drop in reserve out of 30.4 billion dollars mean?? Please I want to learn

PS I just spoke to one mallam he told me the rate is 392 but they aren't selling...so I just have two questions for you...1) Is not selling the same as scarcity? 2) what will happen to the rate when Mallams start selling again??

Sentence in bold to prove sentence 3

Now you've moved on to "it might even crash to 450 before it will crash again."

You disgust me.

-Lord

LordAdam16:




Sentences in bold to prove Statement 1





Sentence in bold to prove sentence 2.



Now you've moved on to "it might even crash to 450 before it will crash again."



Sentence in bold to prove sentence 3



You disgust me.

-Lord

I know that the things I said are too complicated for your brains to comprehend, so I will repeat it to you in a simpler way in CAPS:

- TILL THE CBN ANNOUNCES NEW RATES TO BDCS AND START SELLING BDCS ON MONDAY AND BANKS NEXT WEEK...NAIRA WILL CRASH BECAUSE BLACK MARKET DEALERS WANT TO TAKE ADVANTAGE....THEREFORE I WOULD NOT BE SURPRISED IF IT CRASHES TO EVEN 450 BY MONDAY BEFORE IT BEGINS MAJOR RECOVERY

- 40 MILLION DOLLARS OUT OF 30.4 BILLION IS EQUAL TO 0.0013% REDUCTION YOU CANNOT CALL THIS A REDUCTION slowpoke...THE REDUCTION IS TOO MINISCULE...THEREFORE FOREIGN RESERVES ARE UNCHANGED

THAT BEING SAID slowpoke...YOU HAVE BEEN TELLING ME THIS WILL BE YOUR LAST REPLY ON EVERY POST...TELL YOU WHAT...I WILL REMEMBER YOUR NAME ON NAIRALAND AND I AM GOING TO COME BACK TO YOU WHEN THE RATE GOES DOWN DOWN DOWN...I WANT TO SEE HOW STUPID YOU WOULD LOOK AND WHAT FOOLISH STATEMENTS YOU WILL BE GIVING


Take Care TB JOSHUA

southpawy2k3:


[s]I know that the things I said are too complicated for your brains to comprehend, so I will repeat it to you in a simpler way in CAPS:

- TILL THE CBN ANNOUNCES NEW RATES TO BDCS AND START SELLING BDCS ON MONDAY AND BANKS NEXT WEEK...NAIRA WILL CRASH BECAUSE BLACK MARKET DEALERS WANT TO TAKE ADVANTAGE....THEREFORE I WOULD NOT BE SURPRISED IF IT CRASHES TO EVEN 450 BY MONDAY BEFORE IT BEGINS MAJOR RECOVERY

- 40 MILLION DOLLARS OUT OF 30.4 BILLION IS EQUAL TO 0.0013% REDUCTION YOU CANNOT CALL THIS A REDUCTION slowpoke...THE REDUCTION IS TOO MINISCULE...THEREFORE FOREIGN RESERVES ARE UNCHANGED

THAT BEING SAID slowpoke...YOU HAVE BEEN TELLING ME THIS WILL BE YOUR LAST REPLY ON EVERY POST...TELL YOU WHAT...I WILL REMEMBER YOUR NAME ON NAIRALAND AND I AM GOING TO COME BACK TO YOU WHEN THE RATE GOES DOWN DOWN DOWN...I WANT TO SEE HOW STUPID YOU WOULD LOOK AND WHAT FOOLISH STATEMENTS YOU WILL BE GIVING


Take Care TB JOSHUA[/s]

Keep somersaulting.

Definition of unchanged

not changed; unaltered.

There is a world of difference between slight reduction and unchanged. Next time use the correct term.

You are saying it'll crash on Monday. If it doesn't crash on Monday, SOLELY because of the BDC sales (note the word in capitals, because from all available information, CBN will sell dollars to BDCs on Tuesday (5k) and Thursday (5k)), what should I address you as going forward?

An idiot?

Because that will even be too generous. Another option is stupid, arrogant, daft, moronic f**l. Take your pick (na you start dey throw expletives).

An utter buffoon who cannot read nor communicate properly is saying CBN will start selling dollars to CBN next week Monday, when even the CBN says it will start on Tuesday. And would only sell $5k on Tuesday. It would then sell the other $5k on Thursday. You are a complete unintelligent bast*rd.

In fact, I will not wait until Monday, you are a stupid, arrogant, daft, moronic, f**l for your multiple errors.

Idiotic IDIOT! Foolish F**L!

You think you alone have the monopoly of using vituperations? I've allowed you walk all over and warned you to back down, you're feeling fly. You're toast.

Mental And Deranged (M.A.D) incorrigible oaf! If I wanted to kill myself I'd climb to your ego and jump to your IQ!

Don't even know the meaning of the words scarce and unchanged. Your English teachers should be hanged. Waste of space. I'd apologize to the trees for going through the labor of recycling the oxygen that keeps you alive. Your parents should receive plaques for doing their best to raise a no-holds-barred nutjob like you. And to imagine that a simple rubber tube could have saved the world from your stupidity that is infinite like the Universe.

You'll explain to me, why despite me not directing any insult at you initially and repeatedly asking you to stand down and keep your opinion, you decided to continue throwing shades.

You cretinous f*cktard!

Beastly git!

Contemptible nitwit!

You'll learn the hard way why it is preferable to argue your points in a civilized manner and not like a loudmouthed barbarian with uncouth verbal utterances, who cannot even put spaces in your text.

Typing like an underaged, uneducated MAGGOT!

I'm waiting for when next I'll be on my own, then you'll quote me. IMB*CILE. I will so insult your life, your entire family, and your future generation. Na craze dey do u! ANIMAL!

ASSHOLE!

-Lord

southpawy2k3:


Here....

this is from your nairametrics page :

CBN Inflows

Data from the CBN shows oil inflows for January and February was $615 million and $842 million respectively.
Non-oil inflows is currently at $1.9 billion and $1.5 billion for January and February respectively.
Both oil and non-oil inflows pass through the CBN.
Total cash inflows from autonomous sources was $2.1 billion and $2,9 billion for January and February respectively. It was about $4.2 billion in December 2016.
Total cash inflows from autonomous sources was $2.1 billion and $2,9 billion for January and February respectively. It was about $4.2 billion in December 2016.
Total cash inflows into domiciliaroy accounts (which is a major portion of inflows into autonomous sources) about $1.2 billion and $1.7 billion for January and February respectively.

http://nairametrics.com/external-reserves-for-march-remain-steady-at-30-billion/

Now please cross check these values the CBN recorded as inflows on Jan and Feb 2017 versus what it intervened with and ask yourself whether you truly believe that this is unsustainable

We're talking about CBN sales to BDC and how it will affect the parallel market rate on Monday.

You've switched to sustainability.

Always jumping from pillar to post.

You are INSANE and don't have anyone to tell you. Iranu! Ekpa!

Is this how you guys discuss in your family? Talk about A and you drift entirely to Z? Dumping numerous fallacies as you continue your brainless run.

You've just made 12 posts since 2012, you moronic dingbat and you think that gives you the right to insult at will.

Primitive troglodyte.

-Lord

Pavore9:
For how long can the CBN pamper the Naira?

We will soon know!

I have some $,$$$ coming o. Make dem let am reach 450 next week abeg.

LordAdam16:


Keep somersaulting.

Definition of unchanged



There is a world of difference between slight reduction and unchanged. Next time use the correct term.

You are saying it'll crash on Monday. If it doesn't crash on Monday, SOLELY because of the BDC sales (note the word in capitals, because from all available information, CBN will sell dollars to BDCs on Tuesday (5k) and Thursday (5k)), what should I address you as going forward?

An idiot?

Because that will even be too generous. Another option is stupid, arrogant, daft, moronic f**l. Take your pick (na you start dey throw expletives).

An utter buffoon who cannot read nor communicate properly is saying CBN will start selling dollars to CBN next week Monday, when even the CBN says it will start on Tuesday. And would only sell $5k on Tuesday. It would then sell the other $5k on Thursday. You are a complete unintelligent bast*rd.

In fact, I will not wait until Monday, you are a stupid, arrogant, daft, moronic, f**l for your multiple errors.

Idiotic IDIOT! Foolish F**L!

You think you alone have the monopoly of using vituperations? I've allowed you walk all over and warned you to back down, you're feeling fly. You're toast.

Mental And Deranged (M.A.D) incorrigible oaf! If I wanted to kill myself I'd climb to your ego and jump to your IQ!

Don't even know the meaning of the words scarce and unchanged. Your English teachers should be hanged. Waste of space. I'd apologize to the trees for going through the labor of recycling the oxygen that keeps you alive. Your parents should receive plaques for doing their best to raise a no-holds-barred nutjob like you. And to imagine that a simple rubber tube could have saved the world from your stupidity that is infinite like the Universe.

You'll explain to me, why despite me not directing any insult at you initially and repeatedly asking you to stand down and keep your opinion, you decided to continue throwing shades.

You cretinous f*cktard!

Beastly git!

Contemptible nitwit!

You'll learn the hard way why it is preferable to argue your points in a civilized manner and not like a loudmouthed barbarian with uncouth verbal utterances, who cannot even put spaces in your text.

Typing like an underaged, uneducated MAGGOT!

I'm waiting for when next I'll be on my own, then you'll quote me. IMB*CILE. I will so insult your life, your entire family, and your future generation. Na craze dey do u! ANIMAL!

ASSHOLE!

-Lord

Hahahaha...this guy is crazy...Bros you have way too much time...

southpawy2k3:


Hahahaha...this guy is crazy...Bros you have way too much time...

You don mellow down now.

When I dey warn you, you no gree hear word.

With your head wen b lyk dinning table, and that your ear wen b lyk speaker back.

F**lish goat.

I dey wait that day wen u go don tire for lyf u go mk that mistake quote me for matter wen I no put mouth. You go no say madness get level.

Mad cow!

I leave you, u dey form boss. Small riff raff like you. I go run enter ur life. Ur head no real correct.

Okpo!

-Lord

LordAdam16:


You don mellow down now.

When I dey warn you, you no gree hear word.

With your head wen b lyk dinning table, and that your ear wen b lyk speaker back.

F**lish goat.

I dey wait that day wen u go don tire for lyf u go mk that mistake quote me for matter wen I no put mouth. You go no say madness get level.

Mad cow!

I leave you, u dey form boss. Small riff raff like you. I go run enter ur life. Ur head no real correct.

Okpo!

-Lord

You sound like an ashawu who hasn't been paid her money

southpawy2k3:


You sound like an ashawu who hasn't been paid her money

Is that all you could come up with?

Irredeemable fagg*t.

Belligerent ass-wipe.

Recalcitrant arthropod.

I think say your mouth b dey run like tap. Pitiful chicken! See as u don coil enter fetal position like pikin wen dem born new. U don see alpha male, ur aggression don turn to meekness.

Next time look the moniker well before you start dey craze.

Extraneous nematode.

You're dead meat.

STUPID, ARROGANT, DAFT, MORONIC, F**L!

-Lord

@Lord what is your problem. Y do u have to constitute yourself a nuisance on this thread? Using strong abusive language is grossly unethical and unbecoming of someone of your possible deep insight!

being:
@Lord what is your problem. Y do u have to constitute yourself a nuisance on this thread? Using strong abusive language is grossly unethical and unbecoming of someone of your possible deep insight!

Look back at the thread, follow our conversations, and note the tone of my initial replies to him.

I repeatedly asked him to be with his opinion and did not insult him. Every time, he retorted with expletives.

I can act civil to people who are civil. And brute force sometimes is necessary to put kids in their place. And as you'd observe, that's exactly what happened.

My patience with unstable characters have improved over time, but I still know when to draw the line.

Just ignore my last two posts to him. It's a one-off thing.

He effed up and he knows it. I just had to make it absolutely clear.

Happy new month.

-Lord

LordAdam16:


Is that all you could come up with?

Irredeemable fagg*t.

Belligerent ass-wipe.

Recalcitrant arthropod.

I think say your mouth b dey run like tap. Pitiful chicken! See as u don coil enter fetal position like pikin wen dem born new. U don see alpha male, ur aggression don turn to meekness.

Next time look the moniker well before you start dey craze.

Extraneous nematode.

You're dead meat.

STUPID, ARROGANT, DAFT, MORONIC, F**L!

-Lord

slowpoke I will not talk to arrogant pissants
unpatriotic speculators like you who talk as if they have something up their a**...I will let the Naira rate as of Monday speak for itself

southpawy2k3:


slowpoke I will not talk to arrogant pissants
unpatriotic speculators like you who talk as if they have something up their a**...I will let the Naira rate as of Monday speak for itself

Irascible cum dumpster!

You have been talking to me for days now. Why is your stup*d self resigning now? Wretched tw?t.

I offered an olive branch and you mistook that for piousness. You pig-headed trash!

Why are you waiting for Monday now, Deplorable blumpkin.

F*cking slaptard!

Thought you had enough in you to keep the expletives coming, Dumb cretin!

Run off to your mama, Worthless clown!

Despicable cuntbag!

Doltish sh*thead!

Brain-dead dumbass!

I'd take you to the cleaners any day, any time, and for as long as I desire. You're an inept punk.

You're a masochist, you sick gay. You just keep coming back for more vituperations. Why not become your area's cumbucket, and get over it.

-Lord

southpawy2k3:


slowpoke I will not talk to arrogant pissants
unpatriotic speculators like you who talk as if they have something up their a**...I will let the Naira rate as of Monday speak for itself

Let me just call you the name once.

STUPID, ARROGANT, DAFT, MORONIC, F**L!

It is not civil to kick someone that is already down.

What I want from you is a simple apology for using expletives when it was needless.

Never in your useless life, attempt to go up against me again.

-Lord

LordAdam16:


Let me just call you the name once.

STUPID, ARROGANT, DAFT, MORONIC, F**L!

It is not civil to kick someone that is already down.

What I want from you is a simple apology for using expletives when it was needless.

Never in your useless life, attempt to go up against me again.

-Lord

Are you ready? Spring is coming moro*...now watch as the Dollar comes crashing like that brain of yours..I told you, you should write down what I say to educate yourself,you talk about civility, you are anything but civil.