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The Dollar Has Crashed To N1,390 On Binance After FG BAN - Business - Nairaland

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The Dollar Has Crashed To N1,390 On Binance After FG BAN by Melezenawii: 9:16pm On Feb 21
The dollar has crashed to N1,390 on Binance after FG BAN

4 Likes 2 Shares

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by metaluterus(f): 9:16pm On Feb 21
I wish

3 Likes 1 Share

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Godoverevery: 9:16pm On Feb 21
serious prayer against enemy within

5 Likes

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by StarRida: 9:21pm On Feb 21
Let's see what tomorrow brings because I strongly want the betterment of Nigeria but with this people in power nanananah I don't see that coming

2 Likes

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by CilicMarin: 9:21pm On Feb 21
True, 2 hours ago, it was 1630 averagely..

3 Likes

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by makemoneywbsite: 9:25pm On Feb 21
If you know how to read charts, you'd know what happened is called a dip. It will find a base at an equilibrium that balances those betting for the naira (government) and those for dollar (market speculators). What you should ask yourself is "How many people are willing to support the naira at this price through production and earning the dollar? And how many people are hungry for the dollar to escape impending naira crash and to do business (politicians, the rich and importers). As long as the underlying causes are not tackled, it's merely an entry point for speculators because many deep pockets will gain positions at this point only to cash out when it goes right up. That dip is a mere consolidation phase. In fact, this dip fools no one but shows desperation and market action based on fundamental factors. A real recovery happens slowly. What you see on that chart is just an opportunity for the rich to make more money off further impending naira crash. It's primary economics. If you don't produce and export, it's hopeless hoping.

46 Likes 6 Shares

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Kenneth4u205(m): 9:25pm On Feb 21
It just crashed to 1$= 1 naira on binance few minutes ago

16 Likes

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Righthussle: 9:27pm On Feb 21
Good one FG, Bag of rice is now 50k.

5 Likes 1 Share

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by nairalanda1(m): 9:28pm On Feb 21
makemoneywbsite:
If you know how to read charts, you'd know what happened is called a dip. As long as the underlying causes are not tackled, it's merely an entry point for speculators because many deep pockets will gain positions at this point only to cash out when it goes right up. That dip is a mere consolidation phase. If you don't produce and export, it's hopeless hoping.

Exactly. Produce or forget about it.

3 Likes

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by keymatt(m): 9:31pm On Feb 21
Agbado economics. grin 🤣🤣🤣

Are you agbadorians now depending on Binance for the Naira to gain value grin grin grin grin wonders shall never end! grin grin if you don't produce and export to gain more dollars, how will your naira gain value after buhari's 8 worthless years
Nigeria is in for a hard time, no thanks to your white powder govt's trial and error bulabu economics. Tinubu is good at barking. He's completely empty in the head. Infact, the only thing Tinubu is good at is politics of treachery and deceit. He knows nothing about economics.

At this point, anything other than production and export for Nigeria is as good as nothing. Tell that to your drug lord. cool

29 Likes 2 Shares

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by budaatum: 9:34pm On Feb 21

1 Like

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Paraman: 9:35pm On Feb 21
Some economy saboteurs will be busy buying the dip right now 😡 it might still shoot up before 12am

11 Likes 1 Share

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Tunechi5(m): 9:35pm On Feb 21
Lol I hope it's for good this time

1 Like

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by CilicMarin: 9:36pm On Feb 21
Paraman:
Some economy saboteurs will be busy buying the dip right now 😡

They have blocked the website....MTN in particular.

6 Likes 3 Shares

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by LegendHero(m): 9:39pm On Feb 21
Nigeria market have never respected the law of demand and supply.

Not for dollar/naira, not for food, not even for cement.

Some people just sit somewhere, finish eating eba, sweat hard, then speculate, and say today, we will sell for this amount.

16 Likes 3 Shares

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by bigpriik: 9:39pm On Feb 21
Kenneth4u205:
It just crashed to 1$= 1 naira on binance few minutes ago
imagination kee u.
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by budaatum: 9:42pm On Feb 21
Binance accused of manipulating Nigerian Naira as ‘glitch’ impacts P2P traders

https://cryptoslate.com/binance-accused-of-manipulating-nigerian-naira-as-glitch-impacts-p2p-traders/

1 Like

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Gajagojo: 9:44pm On Feb 21
makemoneywbsite:
If you know how to read charts, you'd know what happened is called a dip. It will find a base at an equilibrium that balances those betting for the naira (government) and those for dollar (market speculators). What you should ask yourself is "How many people are willing to support the naira at this price through production and earning the dollar? And how many people are hungry for the dollar to escape impending naira crash and to do business (politicians, the rich and importers). As long as the underlying causes are not tackled, it's merely an entry point for speculators because many deep pockets will gain positions at this point only to cash out when it goes right up. That dip is a mere consolidation phase. In fact, this dip fools no one but shows desperation and market action based on fundamental factors. A real recovery happens slowly. What you see on that chart is just an opportunity for the rich to make more money off further impending naira crash. It's primary economics. If you don't produce and export, it's hopeless hoping.
If reading chart is that important everyone would learn how to read charts and become unbelievably rich.
Reality is all that chart reading carp is no better than going tons babalawo.
Not relevant in the real world

4 Likes

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by shortgun(m): 9:48pm On Feb 21
Gajagojo:

If reading chart is that important everyone would learn how to read charts and become unbelievably rich.
Reality is all that chart reading carp is no better than going tons babalawo.
Not relevant in the real world
Kindly crawl back to your cave
Thank you

13 Likes

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Gajagojo: 9:51pm On Feb 21
shortgun:

Kindly crawl back to your cave
Thank you
You feel small and want to lash out to manage your ego
No vex

Chart reading is no different from palm. reading
With a lot of "experts" and gullible disciples
If it had any substance to it everyone would do it

6 Likes

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by makemoneywbsite: 9:53pm On Feb 21
Gajagojo:

If reading chart is that important everyone would learn how to read charts and become unbelievably rich.
Reality is all that chart reading carp is no better than going tons babalawo.
Not relevant in the real world

Wrong. Not everyone can read charts. Even those that can may not have the state of mind to risk money. Some of the richest people on earth read stock market charts and invested. Even those that can't read them employ people who can, otherwise you won't have trillion dollar stock brokerage industry.

10 Likes 2 Shares

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by yarimo(m): 9:55pm On Feb 21
grin grin
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by eteebanky1: 9:58pm On Feb 21
LegendHero:
Nigeria market have never respected the law of demand and supply.

Not for dollar/naira, not for food, not even for cement.

Some people just sit somewhere, finish eating eba, sweat hard, then speculate, and say today, we will sell for this amount.

You're on point

Thank God for this ban

Binance really took control of the naira

6 Likes 2 Shares

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Zxcvbnmghtr: 10:02pm On Feb 21
makemoneywbsite:
If you know how to read charts, you'd know what happened is called a dip. It will find a base at an equilibrium that balances those betting for the naira (government) and those for dollar (market speculators). What you should ask yourself is "How many people are willing to support the naira at this price through production and earning the dollar? And how many people are hungry for the dollar to escape impending naira crash and to do business (politicians, the rich and importers). As long as the underlying causes are not tackled, it's merely an entry point for speculators because many deep pockets will gain positions at this point only to cash out when it goes right up. That dip is a mere consolidation phase. In fact, this dip fools no one but shows desperation and market action based on fundamental factors. A real recovery happens slowly. What you see on that chart is just an opportunity for the rich to make more money off further impending naira crash. It's primary economics. If you don't produce and export, it's hopeless hoping.

May Almighty God bless you. Do you see the bolded in your comment. That's the solution. But Nigerians are not ready, we want short cut to success. When Naira was so strong in the 70s and 80s there was local production every where. It's simple economics. God bless you once again

7 Likes

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by PEACE2023: 10:02pm On Feb 21
makemoneywbsite:
If you know how to read charts, you'd know what happened is called a dip. It will find a base at an equilibrium that balances those betting for the naira (government) and those for dollar (market speculators). What you should ask yourself is "How many people are willing to support the naira at this price through production and earning the dollar? And how many people are hungry for the dollar to escape impending naira crash and to do business (politicians, the rich and importers). As long as the underlying causes are not tackled, it's merely an entry point for speculators because many deep pockets will gain positions at this point only to cash out when it goes right up. That dip is a mere consolidation phase. In fact, this dip fools no one but shows desperation and market action based on fundamental factors. A real recovery happens slowly. What you see on that chart is just an opportunity for the rich to make more money off further impending naira crash. It's primary economics. If you don't produce and export, it's hopeless hoping.
You just posted copy copy western economic theory.
Non sense

3 Likes

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by PEACE2023: 10:04pm On Feb 21
nairalanda1:


Exactly. Produce or forget about it.
This is not true. Stop believing IMF western economic theory.
Just as western democracy is not working in Nigeria so is there western economic theory.

1 Like

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Gajagojo: 10:04pm On Feb 21
makemoneywbsite:


Wrong. Not everyone can read charts. Even those that can may not have the state of mind to risk money. Some of the richest people on earth read stock market charts and invested. Even those that can't read them employ people who can, otherwise you won't have trillion dollar stock brokerage industry.
Guy tell me one billionaire that made his money reading charts
The Lionel Messi of chart reading

We'are talking about human behaviour that is irrational,often corrupt criminal and unpredictable. Charts work

In classrooms

4 Likes

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Zxcvbnmghtr: 10:05pm On Feb 21
PEACE2023:

This is not true. Stop believing IMF western economic theory.
Just as western democracy is not working in Nigeria so is there western economic theory.

So tell us the solution.

2 Likes

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by 1x2x3: 10:05pm On Feb 21
eteebanky1:


You're on point

Thank God for this ban

Binance really took control of the naira

The people who took control of Naira are your Bank MDs and Politicians. CBN will release millions of dollars to the banks and when you go to bank the next day you won't find any. Who are they selling it to?

1 Like

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Yorubafonja: 10:45pm On Feb 21
N5000 to $1 is ok

1 Like

Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by jumper524(m): 10:45pm On Feb 21
Zxcvbnmghtr:


May Almighty God bless you. Do you see the bolded in your comment. That's the solution. But Nigerians are not ready, we want short cut to success. When Naira was so strong in the 70s and 80s there was local production every where. It's simple economics. God bless you once again
are you trying to tell me that our importation has almost trippled in the last 3 months when we know subsidy removal has reduced our petrol importation by over 20%
The major consumer of our forex?

3 Likes

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