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Nairaland Forum / Nairaland / General / Business / Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs (33846 Views)
Naira Crashes To 1,030/$ As Speculators React / Forex Scarcity Persists As CBN Resumes Intervention / Dangote Lists The Obstacles To Trade At The Ports In Nigeria (2) (3) (4)
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Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by Spain007(m): 10:20pm On Aug 27, 2020 |
DICKstractor: One chance |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by kambili999(f): 10:21pm On Aug 27, 2020 |
lowkeybahdguy:lowkeybadguy |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by AMvanquish: 10:22pm On Aug 27, 2020 |
That's what you hear in the media, go to aboki BDC and be told #460. Story story story 1 Like |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by kambili999(f): 10:22pm On Aug 27, 2020 |
daddytime:daddytime |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by InvertedHammer: 10:30pm On Aug 27, 2020 |
/ Dollar has been weak against other currencies for months now. Yet naira depreciated. It is expected that VIX may flip soon sending equities into a tailspin and carry unwind. Nigeria does not have the financial firepower to defend naira against downward spiral. I am betting against naira LONGTERM. I expect atleast N500:$1. / 2 Likes |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by Ghostmode2two(m): 10:32pm On Aug 27, 2020 |
Wash wash |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by ptoall1000: 10:41pm On Aug 27, 2020 |
So if one has dollars now is it advisable to sell it? 1 Like |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by lowkeybahdguy(m): 10:45pm On Aug 27, 2020 |
kambili999: Kambili999 |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by Pearly255(f): 10:45pm On Aug 27, 2020 |
1 Like |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by lowkeybahdguy(m): 10:47pm On Aug 27, 2020 |
InvertedHammer: Same here. Long term loss is only going to hurt the economy more. Why CBN persists on this path is what I don't understand. Same happened during the final years of the Jonathan government |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by Bbbwings: 10:54pm On Aug 27, 2020 |
teewhydope:Why not |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by DamiBlaise: 10:55pm On Aug 27, 2020 |
Greenbuoy:Asee!! |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by InvertedHammer: 10:58pm On Aug 27, 2020 |
lowkeybahdguy:/ Actually this is the only solution since Nigerian economy appears more fictitious than real. One factor (oil price) usually controls the whole economy. Other uncommon and unstainable source is taxation through extortion like the infamous stamp duty, bank charges, rent charges, etc. Venezuela comes to mind. / |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by drskyfly007(m): 11:00pm On Aug 27, 2020 |
sonnie10:They are the same... |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by drskyfly007(m): 11:01pm On Aug 27, 2020 |
ptoall1000:That's what am just contemplating.... 1 Like |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by teewhydope(m): 11:10pm On Aug 27, 2020 |
Bbbwings: doesn't matter tho. BDC re never going to sell for 389 anyway. greedy mongers 3 Likes |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by JordanMichael(m): 11:16pm On Aug 27, 2020 |
At the end of Buhari tenure, 1USD will equal N1. Bunch of demonic leaders parading in human flesh. No Nigerian leader both dead and alive will ever have peace |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by lowkeybahdguy(m): 11:18pm On Aug 27, 2020 |
InvertedHammer: I beg to disagree because eventually the CBN is going to run out of steam (or cash). don't forget Nigeria's foreign reserves have been terribly depleted partly due to the CBN bids to prop up the naira. the economy needs to be diversified. yes. but fiscal policy should be the go between right now. this CBN policy is invertly ramping up demand for the dollar and speculators are waiting in the shadows to make a killing. talking from experience. |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by lowkeybahdguy(m): 11:19pm On Aug 27, 2020 |
teewhydope:because 389 is not reflective of the market's true position. it's a prop. |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by Chinkos99(m): 11:23pm On Aug 27, 2020 |
CBN and dollar matter are like 5&6 Guys |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by GuestLog: 11:34pm On Aug 27, 2020 |
adonainana:Baba, this price change will affect price of Bitcoin. All your crypto will be devalued when converted to naira. If you have dollar investments or crypto, just count your losses. |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by GuestLog: 11:35pm On Aug 27, 2020 |
ptoall1000:immediately. |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by GuestLog: 11:36pm On Aug 27, 2020 |
ptoall1000:immediately. Then buy back at the new price for more profit. |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by R0LL0N(m): 11:41pm On Aug 27, 2020 |
This is wickedness of the highest order. After purchasing infinix hot 8 for 45k on Tuesday. I need to sell it as Soon as possible. 1 Like |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by 4Play(m): 11:45pm On Aug 27, 2020 |
ptoall1000: Hold on to your dollar as the only sustainable way for naira to appreciate is for more forex inflows from increases in oil revenues, remittances, foreign investment, sizeable IMF emergency loans, etc. As a substantial increase in forex inflows is not forthcoming, the CBN's diktats won't change anything in the long run. 4 Likes |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by FlipModeSquade(m): 11:53pm On Aug 27, 2020 |
softset:Availability of dollar in the economy will crash the exchange rate, that is common sense.. 1 Like |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by Fox12(m): 12:09am On Aug 28, 2020 |
DICKstractor:U must be jobless to have believed dia motivationals. |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by Aksnoopy: 12:21am On Aug 28, 2020 |
Greenbuoy:Lmao Easy lion! 1 Like |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by InvertedHammer: 12:44am On Aug 28, 2020 |
lowkeybahdguy:/ Fiscal policy must have some basic foundations. Nigeria has no such foundation-- FGN offers no support to businesses within her domain instead they are stiffling them. Don't forget that what they have is theoritical economy (mostly textbook based) with data that is in variance with the reality on ground. / 3 Likes |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by Sandrapery: 12:56am On Aug 28, 2020 |
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Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by donprinyo(m): 1:13am On Aug 28, 2020 |
Mtcheeeew, see them after eating your cake you still want to have it |
Re: Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs by TruthSpeaker: 1:45am On Aug 28, 2020 |
That will be good news of it turns out to be true. A devalued naira increases the cost of living generally due to inflation. Nigeria is a country that relies a a lot on imported goods. |
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