Contrary to the general view that the appreciation of the naira is due to NGN strengthening, actually I think is the other way round, its due to dollar weakening

Do you think dollar will still rise from now till December?

LagosInter:
Do you think dollar will still rise from now till December?

why would it rise ? More dollars coming in by December from dispora for Christmas . Limitations on naira cos it will be in deposit accounts instead of circulation.. Cameron also changing cefa . inflation going down in US . It will crash futher . NNPC pumping more crude .sold at 840 .

Munamoqel:
why would it rise ? More dollars coming in by December from dispora for Christmas . Limitations on naira cos it will be in deposit accounts instead of circulation.. Cameron also changing cefa . inflation going down in US . It will crash futher . NNPC pumping more crude .sold at 840 .

Does naira in deposit account pose a threat?

Aren't transfers availabl?

LagosInter:


Does naira in deposit account pose a threat?

Aren't transfers availabl?

yes na . The illegal naira that is supposed to be chasing dollars will be diving into the bank . Once the new naira is out no need to buy dollars again under pressure .

There is no indication of that happening, with the inflation figure, high energy and low consumer consumption figures.

LagosInter:
Do you think dollar will still rise from now till December?

Bitbibx:
There is no indication of that happening, with the inflation figure, high energy and low consumer consumption figures.

Ok tnx

Munamoqel:
yes na . The illegal naira that is supposed to be chasing dollars will be diving into the bank . Once the new naira is out no need to buy dollars again under pressure .

Why would they put it in banks?

They kept it away from banks since.

So they might prefer to buy dollars instead

LagosInter:


Why would they put it in banks?

They kept it away from banks since.

So they might prefer to buy dollars instead

no they have stop buying dollars cos of instability .they properties and commodities which.are.more stable .the BDC don't have enough dollars to fed the need ! If I have 1bn to change to dollars I will not buy at the speculative price of 880 to make a loss in week to 500 I will.buy 10000 bag of rice 10000 bags of beans ,10000 bag of maize this are are more real than papper dollar !

LagosInter:


Ok tnx

You are saying thanks to someone that doesn't know what he's saying. Check dollar's rate on Monday to confirm he's just a clown giving clown analysis....

alphabbey1:

You are saying thanks to someone that doesn't know what he's saying. Check dollar's rate on Monday to confirm he's just a clown giving clown analysis....

hmm

You mean dollar will still rise?

Munamoqel:
no they have stop buying dollars cos of instability .they properties and commodities which.are.more stable .the BDC don't have enough dollars to fed the need ! If I have 1bn to change to dollars I will not buy at the speculative price of 880 to make a loss in week to 500 I will.buy 10000 bag of rice 10000 bags of beans ,10000 bag of maize this are are more real than papper dollar !

Those commodities are not not easily transferable or convertible to cash

LagosInter:
hmm

You mean dollar will still rise?

Its already rising. Contact any bdc near you. You will know

alphabbey1:

Its already rising. Contact any bdc near you. You will know

Oh okay

Thanks

Let me hope

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LagosInter:


Those commodities are not not easily transferable or convertible to cash

very very easy at better margins .