Acidosis:

You're using fake news to debunk a fake narrative. You all are the same.

Make una dey try dey watch business news and reports. My recommendation would be Channels' 'Business Morning' from 10-11am weekdays. If you do this consistently for 6 months, you'll know better.

The useless news you're citing here is so fake that even Nairaland moderators didn't bother putting on the frontpage. Even the worst of the worst traditional media outlets in the world did not publish that report.

An apprentice writer sat in one corner of his house in Ojuelegba and decided to come up with a non existing news from absolutely nowhere.

Blueivyp:
I read a lot of comment about the impact of naire redesign, I shake my head. Too many people in this country has little knowledge of economic and economy. This is the reason scammers are having field day.

The redesign of Naira has no major impact on the economy. Yes! It has little impact in the sense that much naira will be in the system for business transactions but it will add not value to our economy or money.

The reason naira is gaining against dollar at the moment is the news from the United States of America that they will facephase out dollars minted before 2011.

According to the news, much of the US dollars are outside the shores of America and they are not in circulation. That means, they have been kept in out of circulation as savings.

Implications is that US prints money with their money. Other countries buys them with their worthless money and keep the dollar. US keep spending money printing more money.

So, the US wants to go digital. With 80% of their money in digital form, they will be less printing of dollars.

The US is facing [b]phasing[/b]out all dollars minted before 2011. So anyone who has saved any dollar minted before 2011 must bring it out now or loose his money.

This is the reason there is too much dollar in circulation. And because no one wants to have the dollar that will be faced out stocked in his hands. There are less buyers of such dollar.

Supply is greater than demand

Price must drop.

By December, if government of Nigeria has sense dollar can drop to 200 naira.

Blueivyp:


Even if the news is fake. No one is willing to take the risk.

US stock exchange has traded on news like this for decades.

This is call speculation. Financial markets ride on speculations. More wood to the speculation will crumble dollar.

You think US is ready to finish of dollar like that?

Blueivyp:
I read a lot of comment about the impact of naire redesign, I shake my head. Too many people in this country has little knowledge of economic and economy. This is the reason scammers are having field day.

The redesign of Naira has no major impact on the economy. Yes! It has little impact in the sense that much naira will be in the system for business transactions but it will add not value to our economy or money.

The reason naira is gaining against dollar at the moment is the news from the United States of America that they will face out dollars minted before 2011.

According to the news, much of the US dollars are outside the shores of America and they are not in circulation. That means, they have been kept in out of circulation as savings.

Implications is that US prints money with their money. Other countries buys them with their worthless money and keep the dollar. US keep spending money printing more money.

So, the US wants to go digital. With 80% of their money in digital form, they will be less printing of dollars.

The US is facing out all dollars minted before 2011. So anyone who has saved any dollar minted before 2011 must bring it out now or loose his money.

This is the reason there is too much dollar in circulation. And because no one wants to have the dollar that will be faced out stocked in his hands. There are less buyers of such dollar.

Supply is greater than demand

Price must drop.

By December, if government of Nigeria has sense dollar can drop to 200 naira.

Blueivyp:


Big players in financial markets make money through speculations.

Outside the speculations.

What do you think will happen if US come out to say they are phasing out dollar minted before 2011?

joyandfaith:


US is not facing phasing out any dollar minted before any year. Yes. US would print less money as part of newcdemonetization policy. CBN policy on new naira notes causes panic deposits and demand for dollar. Efcc raided BDC and now monitoring them actively. Demand for dollar has reduced. By early next year, dollar would crash further as politicians need naira to induce voters.

AfahaAbia:
The most annoying part is that I can't withdraw more than $200 from my dorm account. I'm just so angry

Acidosis:
You're using fake news to debunk a fake narrative. You all are the same.

Make una dey try dey watch business news and reports. My recommendation would be Channels' 'Business Morning' from 10-11am weekdays. If you do this consistently for 6 months, you'll know better.

The useless news you're citing here is so fake that even Nairaland moderators didn't bother putting on the frontpage. Even the worst of the worst traditional media outlets in the world did not publish that report.

An apprentice writer cum blogger sat in one corner of his 2-by-2 self-con in Ojuelegba and decided to come up with a non existing news from absolutely nowhere.


And FYI, dollar is "not going down." The value of the Naira has simply gone back to where it used to be before the CBN, through the announcement, caused panic buying.

Blueivyp:
I read a lot of comment about the impact of naire redesign, I shake my head. Too many people in this country has little knowledge of economic and economy. This is the reason scammers are having field day.

The redesign of Naira has no major impact on the economy. Yes! It has little impact in the sense that much naira will be in the system for business transactions but it will add not value to our economy or money.

The reason naira is gaining against dollar at the moment is the news from the United States of America that they will phase out dollars minted before 2011.

According to the news, much of the US dollars are outside the shores of America and they are not in circulation. That means, they have been kept in out of circulation as savings.

Implications is that US prints money with their money. Other countries buys them with their worthless money and keep the dollar. US keep spending money printing more money.

So, the US wants to go digital. With 80% of their money in digital form, they will be less printing of dollars.

The US is facing out all dollars minted before 2011. So anyone who has saved any dollar minted before 2011 must bring it out now or loose his money.

This is the reason there is too much dollar in circulation. And because no one wants to have the dollar that will be phased out stocked in his hands. There are less buyers of such dollar.

Supply is greater than demand

Price must drop.

By December, if government of Nigeria has sense dollar can drop to 200 naira.

Blueivyp:


Speculations don't depends on proof. Speculation is financial trading rumors.

Can you give prove of rumors?

Yet rumor has caused world war. How much more economic war

Kobicove:


Are you serious? Is this true?

AfahaAbia:
The most annoying part is that I can't withdraw more than $200 from my dorm account. I'm just so angry