BarrElChapo:
Has 🦇’s advisors’ not advised him yet to lift the senseless restrictions on using our Naira atm cards to make international dollar transactions yet ?

ijustdey:


https://www.thecable.ng/naira-to-appreciate-settle-at-n600-1-in-coming-months-says-jp-morgan/amp

tsdarkside:
dollars will loose value....
their is nothing america can do about it than going to war against other nations....

who they wan fight....??
russia is tired of them....china understands their shenanigans now....

who they wan fight....??
africa....??
south america....??

Flets:
It can only settle at 600 if CBN floods the FX market with cheaper dollars. Unfortunately, nothing has changed with respect to our exports and USD inflow.

Even investors with their FDI will manipulate the market. The FX is now open to the manipulations of speculators and banks while CBN will play catch up without any defined fiscal control

rosebowl01:


Yes, that APC Administration (Buhari) failed and are shameless hypocrites. But at the inception of this new Admin, USD is trading at 765, if they could empower the naira that it closes at 600 to USD, is that not progress? Was it Tinubu that devalued it from 216 - 765?

jmoore:


But APC said 216 naira to a dollar is not okay. You are rejoicing that a dollar is expected to trade at 600 naira. Is that not a retrogressive?

LikeAking:
Until it get back to 450-500, it's still a nightmare.

Starz825:


be like you no know wetin buhari do this country before this tinubu tenure....

even peter obi can't fix Nigeria in 4 years...

may na dey calm down

BarrElChapo:
Has 🦇’s advisors’ not advised him yet to lift the senseless restrictions on using our Naira atm cards to make international dollar transactions yet ?

thegooddieyoung:
Bros the US does not necessarily have to do anything about this. Read to understand okay

The basic principle to drop the exchange rate is to flood the FX market with USDs mostly done via Foreign Direct Investment (FDI)

Now these foreign investors must be sure that they can recoup their profits in USD to their own economy to avoid the situation currently faced in the aviation industry. Foreign investors will be closely monitoring the president's economic policies.

EmperorHadrian2:


True.

Those kikes in London and New York need a liberalised Forex market so as to cash out big in our stockmarkets


How do they do this ?

Invest billions into the stock market by gradually pushing the shares up via several of their investment firms .

Pull vast sums off the stock market all at once , crashing both naira price and stock prices.

Come back in a week's time and repeat .

This is how London and New York fleece countries and end up buying companies for pennies.

EmperorHadrian2:


True.

Those kikes in London and New York need a liberalised Forex market so as to cash out big in our stockmarkets


How do they do this ?

Invest billions into the stock market by gradually pushing the shares up via several of their investment firms .

Pull vast sums off the stock market all at once , crashing both naira price and stock prices.

Come back in a week's time and repeat .

This is how London and New York fleece countries and end up buying companies for pennies.

tesppidd:
Lol

He promised heaven and earth already.


Did he not know what "Buhari did to this country" before making all those campaign promises?

Anything more than 300 Naira to the dollar, Tinubu has failed.

masseratti:
do you even know anything about a stock exchange? Or how it operates?

uzohrome:
Great news, let support this administration . Nigeria will be great again

nedu666:
U said it will appreciate to 600 but u are going long on depreciation.

MXrep:

But people praising Tinubu now also praised Buhari

Starz825:


be like you no know wetin buhari do this country before this tinubu tenure....

even peter obi can't fix Nigeria in 4 years...

may na dey calm down

ijustdey:


https://www.thecable.ng/naira-to-appreciate-settle-at-n600-1-in-coming-months-says-jp-morgan/amp

Mrhonesty:
Abeg, which products you dey smoke,? Try to sleep small.


quote author=tsdarkside post=123833575]dollars will loose value....
their is nothing america can do about it than going to war against other nations....

who they wan fight....??
russia is tired of them....china understands their shenanigans now....

who they wan fight....??
africa....??
south america....??

tsdarkside:


guy....not all nigerians dont know whats going on in the world....
nigerians that understand this international market games dont bother to argue with somebody like you....

to me,its all a giant casino....

masseratti:
lolzzz... Funny enough you right with your last statement tho.. It's a giant casino..but your previous quote about foreign investors messing up the stock market because of floating of dollars in not possible tho.

LordAdam16:


The headline is misleading.

High 600s is not 600/$.

Yesterday, it closed at 702 at the official I&E window. Intra-day high of 791. Turnover declined from almost $200m to $70m. We're currently producing 1.5m bpd. Our OPEC cap is 1.8m bpd. And there's $12B in unfunded liabilities to be cleared.

I initially believed the unified rate will settle at mid 600s. Now, I expect rates to oscillate at mid 700's.

Not to mention, all of this is contiguous on the global economy not falling into a recession later this year or early next year. Germany has already slipped taking the eurozone with it. New Zealand just slipped. China's recovery is anemic.

Oh, have I mentioned roaring inflation?

In the mid term, dollar earners are safe. I sha moved most of my funds to Naira and I immediately convert most of my earnings that I'm not planning to invest in foreign securities to Naira. The CBN is yet to inject massive funds, so that's the immediate concern. Otherwise, the elevated parallel market rate has been quite resilient.

Lastly, we've been here before. Rates crashed from 520 to 360 before. So a N100 appreciation will not be that painful. I'll just chuck it up as 15% increase in COL. And when the rate appreciates and settles, I'm moving spare change back to $. Because the next upheaval will take rates to 1000. Whether it is recession, oil price collapse, hyperinflation, another pandemic... It does not matter, because Nigeria's economic health is immunocompromised. Any slight shock and the descent will resume.

-Lord

modelsms:


Do you think dollar price will increase or decrease by next month?

Is it advisable for one to sell now?