jericco1:

no be 4 again?

Use your tongue to count your teeth.

walexy100:
Before he travelled N390/395.
Now: N375/N380

i deal in dollars , it has nutin to do with buhari's presence or absence ... stop layin hate talks

kelvinreality:


After the initial injection of dollar into the economy, there was a fall in dollar at first then a increase subsequently.

As at now, there has been another increase in naira without any injection of dollar into economy. What could have been the cause of this? Another invisible injection of dollar into the economy.

If the first increaee in naira is associated with the pumping of dollar into the economy as you claim, what will be the associated cause of the current increase in naira.

Stop playing politics, investors confidence in naira recently has had positive impact on our legal tender.

i don't understand you pls.

Its a simple economics

an increase in supply of dollars into the Market

will only lead to a decrease in the price of dollar in the market

i don't think its investors confidence





the investors confidence has always been der.

After the horrible propaganda and insults carried out against GEJ by Buhari and his supporters how can he have peace? Nairaland was awash with shocking language in the name of comments from persons who do not even know how to clean themselves properly. What a person sows that he or she shall reap. All in good time.

martineverest:
What a foolish question ❓ Didn't naira appreciate when buhari was around?

There's so much ignorance on Nairaland forum.Naira has been appreciating before Buhari left,more money was pumped into the stock market and the dollars also dropped value amidst President Trump /Comey controversy. WHO ASKED THIS DUMB QUESTION IN THE FIRST INSTANCE? ??Unfortunately, most pple just make comments without knowing a thing about how things work. No country will grow with this mentality.

Jabia:


I disagree. The CBN recently injected $450 million into our FOREX market, in another bid to shore up the Naira. Similarly, the dollar has lost value this week worldwide.

Hence the Naira is gaining value against the dollar but losing value or remaining firm against the euro and British pounds sterling.

To be clear, I am neither for nor against the Buhari administration. I know this simply from following trends in the strength of the Naira and worldwide crude oil prices.

Cheers!

Nice.

I was not aware of the recent injection of dollar into the economy. The last news about dollar injection I read was in March. My humble submission on this issue was based on the information I gathered.

I have a question, why is PMB afraid of injecting dollar into economy? He is trying to create a good impression towards the western world that Nigeria has a good Reserve under his administration despite the suffering of the masses?

kelvinreality:
The only reasonable explanation I have for this is about investors confidence. I do not think investors ( foreign and local ) have confident in President Buhari anymore, hence the fall of dollar against naira anytime he travels.

This occurrence was actually the opposite at first. During the first three month of Buhari administration there was high investors confidence hence the favourable increase in NSE.

The body language and economic policy of President Buhari has really change the outlook on how investors view the economy

Quite on point. Exchange rate react to events and occurences.

Thats apc way to deceive nigerians to have something to discuss on.

"Better" naira rate is not an indication of improved economy.

Nairaland has been reporting that Naira appreciated before Buhari left its either you are deceitful or ignorant. More money was pumped into d stock market and the dollar also lost value amidst President Trump /Comey controversy. WHO ASKED THIS DUMB QUESTION IN THE FIRST INSTANCE?? ?Unfortunately, ppl just make comments without knowing a thing about how things work. No country will grow with this destructive attitude towards the leaders.

doctokwus:

This is like all those talk u hear from agberos at a joint after taking 2 bottles of shekpe.

No just use me play this morning.

Who sold $1.2b+ in one week to crash the rate in the first week of February?
Who sold $400m+ in one day to crash the rate this week?

Better respect yourself.

-Lord

walley21:
There's so much ignorance on Nairaland forum.Naira has been appreciating before Buhari left,more money was pumped into the stock market and the dollars also dropped value amidst President Trump /Comey controversy. WHO ASKED THIS DUMB QUESTION IN THE FIRST INSTANCE? ??Unfortunately, most pple just make comments without knowing a thing about how things work. No country will grow with this mentality.

the thing Taya me o..... and tomorrow they will say we should allow our dumb youths to take over

Rahym001:


i don't understand you pls.

Its a simple economics

an increase in supply of dollars into the Market

will only lead to a decrease in the price of dollar in the market

i don't think its investors confidence





the investors confidence has always been der.

Yeah. The interplay of demand and supply affects price but this is not the only factor investors look at for.

In any economy, investors will surely considers the demand and supply effect, the policy of the Government and some other 'imagine' activities in the economy.

Investors confidence does not have to be 'real ' all the time. There can also be 'inagine ' investors confidence.
For clarity purpose, a favourable market and fiscal policy in the economy is real investor confidence while the interpretation of the ' body language' of policy maker in the economy is imagine investors confidence.

You get my point?

Bobby808:
When I read very genuine posts like this one, often times, I always regret voting for Buhari. At some points, I fell like hitting myself with heavy stone as protest against myself. I will never forgive myself if I should vote an illitrate man like Buhari. Tufiakwa.

Bro it's not too much your fault anyways, I blame Jonathan.

We still have people that are still supporting the failed man

THE REASON IS THAT BUHARI IS NOT IN FULL CONTROL WHEN HE'S AROUND! PRONTO!

INVESTOR CONFIDENCE IS 15-25% OF THE PROBLEM. OSINBAJO, IS USUALLY IN FULL CONTROL WHENEVER THE BUCK STOPS ON HIS TABLE, ENSURING MORE PROFESSIONAL WAYS OF HANDLING GOVERNMENT AFFAIRS.

kelvinreality:



Nice.

I was not aware of the recent injection of dollar into the economy. The last news about dollar injection I read was in March. My humble submission on this issue was based on the information I gathered.

I have a question, why is PMB afraid of injecting dollar into economy? He is trying to create a good impression towards the western world that Nigeria has a good Reserve under his administration despite the suffering of the masses?

He injects, not just as recklessly as Osinbajo.

Osinbajo used $1.5b to push the rate from mid 500's to low 400's. He should have stopped there, but he let it get to his head and spent another $1b to push it below 400 hoping to take it to 300. Since then, the government has spent another $2b to keep the rate from going above 400 again. According to estimates, they'd spend $3b every quarter to keep it from going above 400.

Osinbajo is reckless, that's the fact.

If Osinbajo was president, we'd be lucky to have $27b in our reserves. Increasing the reserves is the smartest thing Buhari has done since 2015.

The oil industry is VERY fickle. 3 weeks ago, analysts were saying oil would touch $70 pb in the second half of this year. This week, analysts were saying, it would be lucky to touch $60 pb. Right now, everyone is holding their breath about the May 29 deal because no one knows what'd happen. No one knows even if compliance would be top notch like in previous months if a deal is reached. Any quirk in the industry exposes our economy to huge shocks, and reckless spending would be punished severely.

The problem is that if Osinbajo spends and it turns out well like his first stint, he is celebrated, but if oil price drops and the reduced rate of accumulating reserves plus reckless spending leads to us being exposed, you guys would crucify Buhari.

It is unfair.

-Lord

Because the Naira, as well as a vast majority of Nigerians, appreciates his absence.

Even power supply is now better than it was when he was around.

kelvinreality:


Yeah. The interplay of demand and supply affects price but this is not the only factor investors look at for.

In any economy, investors will surely considers the demand and supply effect, the policy of the Government and some other 'imagine' activities in the economy.

Investors confidence does not have to be 'real ' all the time. There can also be 'inagine ' investors confidence.
For clarity purpose, a favourable market and fiscal policy in the economy is real investor confidence while the interpretation of the ' body language' of policy maker in the economy is imagine investors confidence.

You get my point?

Investor's confidence has very little to do with the black market rate. Now you can say the news that $600m came in 3 weeks after the investor window was established under BUHARI and that the NSE market increase by N700b+ in one week, influenced the fall. But its influence is near negligible, as is the influence of the dollar falling because of Trump's turmoil.

If the news that the reserves have been falling for 2 weeks straight had come out this week, the influence of those factors would have been completely erased.

The $400m is the major reason (by major I mean like 80%) for the fall. Simple as!

-Lord

In any case Jonathan Goodluck has a cabinet that steals more than they drink water. PMB isn't the best candidate, but presented an opportunity to examine the old order where no one is in control.

The fluctuations of an economy is directly proportional to the perceived effectiveness of government. Naira would appreciate if government takes the right decisions

LordAdam16:


He injects, not just as recklessly as Osinbajo.

Osinbajo used $1.5b to push the rate from mid 500's to low 400's. He should have stopped there, but he let it get to his head and spent another $1b to push it below 400 hoping to take it to 300. Since then, the government has spent another $2b to keep the rate from going above 400 again. According to estimates, they'd spend $3b every quarter to keep it from going above 400.

Osinbajo is reckless, that's the fact.

If Osinbajo was president, we'd be lucky to have $27b in our reserves. Increasing the reserves is the smartest thing Buhari has done since 2015.

The oil industry is VERY fickle. 3 weeks ago, analysts were saying oil would touch $70 pb in the second half of this year. This week, analysts were saying, it would be lucky to touch $60 pb. Right now, everyone is holding their breath about the May 29 deal because no one knows what'd happen. No one knows even if compliance would be top notch like in previous months if a deal is reached. Any quirk in the industry exposes our economy to huge shocks, and reckless spending would be punished severely.

The problem is that if Osinbajo spends and it turns out well like his first stint, he is celebrated, but if oil price drops and the reduced rate of accumulating reserves plus reckless spending leads to us being exposed, you guys would crucify Buhari.

It is unfair.

-Lord

This argument will continue from a long while. Among the long term objectives of a country, is the desire to keep it external reserve at a high level over time, but the pr oblem I have this idea is the bad utilisation of the reserve.

In time past, Nigeria reserve has been depleted without any benefit being derive from it depletion by the masses. If our reserve will be depleted a bit and there is some level of increase in the standard of living in the life of the masses why not do such.

PMB has been known as someone who like contractionary policy hence the desire to cut off spending. To be sincere, this contractionsry policy has done lots of harm to the masses.

LordAdam16:


One word:

POLITICS.

And this is from the SW ACN caucus in APC.

Just watch, when Nigeria exits recession later this year, they would celebrate Osinbajo as the man behind it since he is the head of the economic team, but they'd conveniently blame Buhari as the man in charge when inexistent fiscal policies led to the recession in the first place.

The Lagos-Ibadan media is doing a lot to whitewash Osinbajo. Buhari should stay longer in London, Osi's folly would eventually become apparent with time.

-Lord

This has always been the pain in your ass. SW do not know of your existence & your opinion of SW do not travel beyond the letters on your keyboard.

One more brotherly advice; Pls get out of Tinubu's pants.

Gej spent trillions defending the Naira at the time there was no recession. If Osinbajo intervened with less than half as much at a time we're grappling with recession, principally to bring down inflation. You can cry us a river.

Great news. Atleast I can travel with enough money.

Na work of God, Everything comes 4rm God

the whole northern muslims are a badluck to this country..if they wea christians dey would ave been a better people dan wht dey are today

kelvinreality:



This argument will continue from a long while. Among the long term objectives of a country, is the desire to keep it external reserve at a high level over time, but the pr oblem I have this idea is the bad utilisation of the reserve.

In time past, Nigeria reserve has been depleted without any benefit being derive from it depletion by the masses. If our reserve will be depleted a bit and there is some level of increase in the standard of living in the life of the masses why not do such.

PMB has been known as someone who like contractionary policy hence the desire to cut off spending. To be sincere, this contractionsry policy has done lots of harm to the masses.

The thing that has done lots of harm to the masses is not the reserve level, it is the lack of fiscal policies. Unfortunately, Osinbajo is the head of the economic team. He has been completely underwhelming in formulating policies. GEJ placed Okonjo in charge of the economy, Buhari did same to Osinbajo. The difference is that Okonjo performed brilliantly, while Osinbajo performance is a disgrace.

It took him 18 months to put together a FISCAL PLAN.

I'm not discounting Buhari's errors like not getting ministers early or not doing enough to stop investors from leaving in droves. But opining that Buhari's drive to increase the reserve has a major negative impact on the economy is untrue.

The FG has spent around $4.5b to reduce the rate, what is the price of goods and services in the open market? Food inflation increased this month and the intervention started in February. Two third of May is gone already. If an oil deal falls through this month and oil price reduces in a huge way next month, all of those billions of scare dollars would have been wasted. WASTED!

PMB has not cut off spending. Look at our deficit for the 2016. Look at the deficit they're aiming for this year. It's just that as expected, we are not seeing the effect of spending. Last years budget was N6trillion. They've spent all the money and we don't know where it entered. So, saying that it's only after they spend the few billions of dollars we have in our reserves that we'd feel the effect is not really a smart way to think.

What if after they spend from the reserves and another oil price major fall happens again, wouldn't the populace be amongst the people blaming Buhari that he should have saved more? This shallow thinking is not helping anyone.

Saudi Arabia ran a huge deficit and reduced spending, whereas they have over $400b in an investment fund. Do you think they are idiots?

-Lord

kelvinreality:


After the initial injection of dollar into the economy, there was a fall in dollar at first then a increase subsequently.

As at now, there has been another increase in naira without any injection of dollar into economy. What could have been the cause of this? Another invisible injection of dollar into the economy.

If the first increaee in naira is associated with the pumping of dollar into the economy as you claim, what will be the associated cause of the current increase in naira.

Stop playing politics, investors confidence in naira recently has had positive impact on our legal tender.

Keep deceiving yourself. This is just a cosmetic solution. The currency of a country that lives basically on importation will keep losing value, unemployment will remain because there will never be industrialization. Kindly show me in Economic where the law of demand and supply is applicable to a country currency!!! We are not there at all and I pity you and your likes that think demand and supply is related to the value of Naira. It is foolishness to test the depth of a river with the 2 legs. A country without power wants to start with manufacturing of cars when the textile industry that is simpler and cheaper is dead. I pity your dreams!!!

luxy44:


Keep deceiving yourself. This is just a cosmetic solution. The currency of a country that lives basically on importation will keep losing value, unemployment will remain because there will never be industrialization. Kindly show me in Economic where the law of demand and supply is applicable to a country currency!!! We are not there at all and I pity you and your likes that think demand and supply is related to the value of Naira

You are actually supporting my assertion. We are on the same boat, but your response look as if you got me wrong.

Because the nigga get bad head simple.

@op, when he came back the last time, the Naira depreciated! #deep

kelvinreality:


You are actually supporting my assertion. We are on the same boat, but your response look as if you got me wrong.

We are not dear! I'm discussing long term, you are praising abacadabra.