Madness

It was 195 during Jonathan regime

Will heaven fall to earth if naira is above dollar?

I mean we have all it take to

Emefiele has destroyed our economy ...himself and his former boss were just playing on our currency to satisfying their cronies in the corridor of power. They shall lose all their I'll gotten wealth to sickness and diseases and disasters in Jesus name. They won't enjoy what they have stollen from Nigeria purse .. they betrayed our trust and God will surely bring them under judgement in Jesus name

Bigsunny01:
Madness

It was 195 during Jonathan regime

Will heaven fall to earth if naira is above dollar?

I mean we have all it take to

You have what?

Go and check GDP of Carlifornia and compare it to that of Africa before Nigeria.

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

Calm down and use your head. Make politicians no dey use una play kite. Naso una carry Buhari for head. He turned out to be a plague. Relax and watch first.

Jagabam bu odegwu

Wasn't same principle of economics textbook that Adebisi, the current CBN gov and Emefiele studied at their MBA.

Nawaooo

Parachoko:
I hope we will see it very soon.

A lot of job still needs to be done

Right now is about #750

Don’t mind them, Nigerians and their govt are just dumb.
The only thing that will make dollar fall is reducing excess pressure on dollar. Nigeria imports 99.9 percents of their consumption.
Vacations, schooling, medical tourism. These put excess pressure on dollar.
And law of demand and supply always apply on dollar exchange.
Nigeria should start moving from consumption country to production country and see dollar fall yakataaa

Shame on Nigerians and Nigeria. A fallen giant indeed

600? And still y’all think that is good? Abeg ooo…just watch out for prices of things soaring sooon😬

The campaign should be over by now nah

Make it come down like the cooking gas

Azap.

blueAgent:


You have what?

Go and check GDP of Carlifornia and compare it to that of Africa before Nigeria.

Go and check what make de gdp of California so

We have all it take to grow our gdp if only we have a working govt

Please and please we want naira to appreciate #1500/1$

Bigsunny01:





Go and check what make de gdp of California so

We have all it take to grow our gdp if only we have a working govt

What do you think made Carlifornia economy great?
Resources or brains?

blueAgent:


What do you think made Carlifornia economy great?
Resources or brains?

Forget it bruh

Whatsoever it is dat made dere economy great, i tell u na greed and corruption dey kill us

We actually have what it take to compete wit dem

UAE is ur clue

Bigsunny01:



Forget it bruh

Whatsoever it is dat made dere economy great, i tell u na greed and corruption dey kill us

We actually have what it take to compete wit dem

UAE is ur clue

We don't have.

That greed and corruption are just symptoms of the bigger problem.


UAE cannot even compare with counties in US, talkless of States and US alone.

Make I burst your bubble ,Apple company alone has annual revenue equivalent to our annual budget for aleast 10straight years.

Find another country like Turkey,Malaysia dey compare Nigeria with, US no be Nigeria mate.

I like your dream but, e get why.

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

You're right. The Naira went from 520 to 360 in 2017.

I too suspect or worry the true rate will finally settle around 700 or even more. When one considers the $12bn unsettled transfers. I also suspect that's partially why the restrictions on the 41 or is it 43 products from assessing forex from the CBN still subsist.

Anyway, these are still early days.

ECIDSGO:
Jokers . In coming months Naira will be about 800 to 1 dollars . Pounds sterling is currently 985 to 1 Pounds

please see what i said a few weeks ago.

600 is nigh impossible now.