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Nairaland Forum / Nairaland / General / Business / Why The Naira Is Now Gaining Against The Dollar (56322 Views)
Why The Naira Is Going To N1000 To The Dollar / When The Naira Was Stronger Than US Dollar (Throwback) / ‘Anyone Caught Abusing The Naira Will Face Jail Terms’ – CBN Warns Nigerians (2) (3) (4)
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Re: Why The Naira Is Now Gaining Against The Dollar by Nobody: 3:32pm On Jun 18, 2021 |
E remain make Nigeria start to dey print 5000 and 10000 naira note like ugadan and Benin republic, dey print ugadan shillings and cfa then we go know say Buhari don complete his mission with Nigeria economy.......I just pity anyone wey still get hope say this country go better again. 2 Likes 1 Share |
Re: Why The Naira Is Now Gaining Against The Dollar by Splitmind: 3:34pm On Jun 18, 2021 |
Another milestone for the Buhari administration. Sai Baba! |
Re: Why The Naira Is Now Gaining Against The Dollar by Cuteamigo1(m): 3:37pm On Jun 18, 2021 |
They have turned USD to crypto. Chai |
Re: Why The Naira Is Now Gaining Against The Dollar by BigBashiru: 3:39pm On Jun 18, 2021 |
SmartPolician: CBN Governor is wholly responsible but nigerians like blaming president for everything. Funny thing is you lot are just wasting your time becos the buhari you are blaming no send una - I hope he arrests more of you people for hate speech, insulting the president, etc until una get sense... |
Re: Why The Naira Is Now Gaining Against The Dollar by grandstar(m): 3:40pm On Jun 18, 2021 |
The CBN should allow the Naira to depreciate to its true value at the official rate. It's now flush with dollars does not mean it should waste it on the unwinnable- to stop the Naira from depreciatng 1 Like |
Re: Why The Naira Is Now Gaining Against The Dollar by Xilsbridalhouse(f): 3:45pm On Jun 18, 2021 |
slawormiir:Just imagine this one criticizing the government o! Wonders!!!! |
Re: Why The Naira Is Now Gaining Against The Dollar by tivhador: 3:46pm On Jun 18, 2021 |
Na una village the gain dey? |
Re: Why The Naira Is Now Gaining Against The Dollar by SmartPolician: 3:51pm On Jun 18, 2021 |
BigBashiru: Explain how |
Re: Why The Naira Is Now Gaining Against The Dollar by nedekid: 3:51pm On Jun 18, 2021 |
LaIabobo:Hmm. Na that boroboro and say them Wan pay back go be the next excuse. I taya. Imagine your business is not moving (poor sales) for what ever reason eg seasonal factors, strikes etc. Is that the time you will go to the bank to take loans to do capital expenditure eg build more office space, redecorate/furnish your office? Or other the other hand cut down your expenses and exit the slowdown period debt free? I believe the first instance is what Nigeria decide to take hence our huge debt. Build bridges, railways, fountains etc and you will see hungry people rip off the railings, the train tracks, the pumping Machine for the fountains at night to sell to eat. That is why some of us have always said a government pikin with no other business experience other than being a civil servant have no business running a country such as Nigeria. 2 Likes 1 Share |
Re: Why The Naira Is Now Gaining Against The Dollar by fowlyansh181(m): 3:51pm On Jun 18, 2021 |
PAWG:lol, yes bad news, but only temporarily, no be Naira wey I know? 1 Like |
Re: Why The Naira Is Now Gaining Against The Dollar by omohayek: 3:56pm On Jun 18, 2021 |
grandstar:Sadly it is all too predictable that this squandering of precious resources is precisely the course Emefiele will embark upon. As he's doing little to rein in the paper-printing that has been keeping the FG afloat, and he's shown little indication of growing a spine and using his statutory independence, the gap between "official" and market-rates of the Naira is guaranteed to widen yet again, providing new opportunities for risk-free arbitrage by those with the right connections. Knowing all of this, the rational course of action at the present moment is to continue to sell Naira for USD/GBP/EUR/etc, buy traditional stores of value like gold, or try to hedge with inflation-proof assets like property. Those who have the means will continue to minimise their Naira exposure until a new regime comes in and breaks inflation expectations, like Paul Volcker did in the USA at the start of the 1980s. https://www.stlouisfed.org/publications/regional-economist/january-2005/volckers-handling-of-the-great-inflation-taught-us-much 5 Likes 3 Shares |
Re: Why The Naira Is Now Gaining Against The Dollar by alizma: 3:57pm On Jun 18, 2021 |
LaIabobo:Which company is buying dollar #515? That is how you guys will sit in your house and be typing what you don't know. |
Re: Why The Naira Is Now Gaining Against The Dollar by omohayek: 4:01pm On Jun 18, 2021 |
SmartPolician:Emefiele is the one who set up the multiple FX rate regime that allows a few people to buy "cheap" US dollars at one rate and turn-around and sell them off for market-rates at no risk. He's the one who instituted a ban list on a variety of imports, further spooking foreign investors, a crucial source of foreign exchange. He's the same person who has been running the printing presses non-stop to give Buhari's government "free" money it can use to pretend to pay salaries and other running costs. Worst of all, Emefiele has done all this despite the fact that Buhari has no legal means of sacking him or punishing him in any way. The independence of the CBN is guaranteed by statute, and if Emefiele wanted, he could stop the money-printing and liberalise the FX rate today, and the most Buhari legally could do is complain loudly to the press. That Emefiele chooses not to do so is a mark of either cowardice or incompetence, and given his pathetic track record, likely both. 2 Likes 1 Share |
Re: Why The Naira Is Now Gaining Against The Dollar by Nobody: 4:02pm On Jun 18, 2021 |
we are begging china for $600 million and spending $94 billion since 2015 fighting dollar 1 Like 1 Share |
Re: Why The Naira Is Now Gaining Against The Dollar by EmmanuelBanks: 4:09pm On Jun 18, 2021 |
slawormiir: slawormiir: |
Re: Why The Naira Is Now Gaining Against The Dollar by Okoyouth: 4:11pm On Jun 18, 2021 |
Aboki don finished this country |
Re: Why The Naira Is Now Gaining Against The Dollar by Champneys: 4:13pm On Jun 18, 2021 |
Emefiele and the CBN should get a fu..cking grip! The bastardization of the naira by this regime is pathetic. No effective fiscal strategy or monetary policy, the clueless dimwits led by Godwin Emefiele have lost the plot and ruined our currency! Any sane country would have fired him a long time ago, the idio...t he reports to in Aso Rock doesnt have a clue, making things even more perilous! 1 Like |
Re: Why The Naira Is Now Gaining Against The Dollar by Hamiltonii: 4:21pm On Jun 18, 2021 |
Mynd44:Just register at my signature to keep your income safe. |
Re: Why The Naira Is Now Gaining Against The Dollar by LightUpWithKemi: 4:27pm On Jun 18, 2021 |
Nonsense talk. Bikonu, subscribe to my channel and view video clips. |
Re: Why The Naira Is Now Gaining Against The Dollar by descarado: 4:36pm On Jun 18, 2021 |
Seems the dollar is weakening |
Re: Why The Naira Is Now Gaining Against The Dollar by SeasonedMEMBER(m): 4:39pm On Jun 18, 2021 |
slawormiir: 75 bro 1 Like 1 Share |
Re: Why The Naira Is Now Gaining Against The Dollar by authority2006(m): 4:45pm On Jun 18, 2021 |
Thinktwicemybro: Dem no teach u Maths for school to be able to understand the difference between long-term and short-term analysis? |
Re: Why The Naira Is Now Gaining Against The Dollar by authority2006(m): 4:48pm On Jun 18, 2021 |
FacelessKing: Whether you are patriotic or not, it is still not up to you |
Re: Why The Naira Is Now Gaining Against The Dollar by PGKing1(m): 4:49pm On Jun 18, 2021 |
ALL na wash... |
Re: Why The Naira Is Now Gaining Against The Dollar by Thinktwicemybro: 4:50pm On Jun 18, 2021 |
authority2006:Have they paid your 30k this month? 1 Like |
Re: Why The Naira Is Now Gaining Against The Dollar by phemiee1810(m): 4:54pm On Jun 18, 2021 |
slawormiir: Yuan(RMB) is the real koko oo and too sha cos of clearing |
Re: Why The Naira Is Now Gaining Against The Dollar by Reference(m): 4:56pm On Jun 18, 2021 |
kambili999: Yippie not until the fundamentals get better. This is merely changing miles to kilometres, the road to El-dorado remains the same distance. Until Nigeria is restructured along the lines of productivity and away from its current mode of rent seeking, resource 'allocation' and whole-scale economic outsourcing, i.e contracting, the exchange rate can only go in one direction fundamentally. Just wait until subsidies are further cut back sometimes in the next 8 weeks (as we speculate). |
Re: Why The Naira Is Now Gaining Against The Dollar by Maski87: 5:05pm On Jun 18, 2021 |
I just dey happy, as I dey read this news for my phone,dey wash toilet and latrine for London underground, once I get my pay I dey com Nigeria, and na for presidential hotel I go lodge for port Harcourt, and all those PH chicks wey been the do guy for me una go hear am |
Re: Why The Naira Is Now Gaining Against The Dollar by MartinsD12(m): 5:10pm On Jun 18, 2021 |
Thinktwicemybro:That is very true, let them stop all these nonsense naira gain, naira fall. but how does it affect the living standards is what matters 1 Like |
Re: Why The Naira Is Now Gaining Against The Dollar by htdot: 5:13pm On Jun 18, 2021 |
OmoManU:No... the president is the cause... CBN agenda is part of the fg agenda 1 Like |
Re: Why The Naira Is Now Gaining Against The Dollar by OmoManU: 5:17pm On Jun 18, 2021 |
SmartPolician:In as far as agree with almost all what you wrote, i beg to disagree with you in the area of power/railway. I think the power issue even as even myself would really want it fixed but it just seem the problem look unsolvable, classical case of the more you look the less you see. Maybe it's only God that will come and fix that sector because the corruption and issues in that sector is just too much but truly fixing the power problem will simply mean like solving half of the problem of Nigeria |
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