orikoku:
This thing will hit a lot of people. How on earth will you be buying dollars as an asset. People will cry, I swear.

Since the buying and selling of Dollars, has anyone ever cried, crewed or crowed? Nope

Easybet1:
I bought at 1725 to a dollar. Should I dump it now and accept my loss

Keep it till next year December.

Easybet1:
I bought at 1725 to a dollar. Should I dump it now and accept my loss

by the time the refineries are in full operation more foreign exchange will flow into the country, I dont see it going back to 1500 under this government. Keep it and spend it on your vacation abroad. As it is now, you are at loss

Xammie001:


Greed led us to this state now
when we discovered crude oil that year it should have been another source of income and not main source of income but greed and lack of planning sold us out and here we are now suffering badly.
Then we had the biggest pyramids in the world name them, Groundnut,Cocoa, Cassava, palm oil, tomatoes then but the discovery of CRUDE OIL made us lose everything

very very true. This is the sad bitter truth

There was cotton in some part of the North which led to establishment of textiles.

Putindbutt:

Explain me how they are fixing the rates?, let me see if you passed through a school gate.

So what's reducing the rates? proganda and intimidating alleged speculators/BDC operators and selling dollar cheaper. Ok let's see how they sustain this charade.

ellyrichy:
Hope it reflects on the market goods, because the price increase isn't funny at all. When the price of dollar was high, those people selling goods always said the issue was it dollars. Now that dollars have calm down, am hoping to see a drastic reduction in the prices of foodstuffs.

For where
Its still increasing sef

jaxxy:


So what's reducing the rates? proganda and intimidating alleged speculators/BDC operators and selling dollar cheaper. Ok let's see how they sustain this charade.

FG Banning Binance and Binance in turn banning USDT-NGN trading contributed a lot.

At the cost of our national reserve.
Let the depletion of the reserve begins
Back to pre-floatation of dollars: policy somersault
Not a long term solution

Until we improve on our export earnings, attract FDIs, fight corruption and reduce the cost of governance, we are playing.

Let's see what will happen when the 36 governors get their FAC

worksmart:
But remember the BDCs have already been forbidden from buying dollar at more than N1,400 so it's just eye-service that is unsustainable.

the government has officially devalued the naira from 700 to 1251.

Another positive aspect of this is that, as the naira appreciates, fuel subsidy will be disappearing.

If naira hits around N900, fuel subsidy should be totally gone meaning federal government will have a lot more money for distribution with states.

If naira gets close to N800, the federal government (NNPC) should actually start making a ton of profit from selling petrol at N650 or above per litre

Mr Tinubu is a genius

Probably the best head of State Nigeria has had since independence.

i pray it gets better.

but APC govt will create problems and still claim to solve Same problem that they created

Easybet1:
I bought at 1725 to a dollar. Should I dump it now and accept my loss

Lol. Its not a loss. Can't say more than that 😄

PointZerom:


There has never been any problem except the one created by the government.
They'll put first in the building and call fire fighters to quench it, the gullible will praise them for their prompt intervention in quenching the fire.

Exactly bro.. only the wise understands

lexy2014:


what makes you think Nigeria does not already have enough to feed 300million people?

Sir if we have we won't have food shortage at all

Talkisneeded:
When will the price of common things fall too...
Because koyemi

I bought rice half bag 31k today but dey said it's Local Sha.
But I noticed somtin..dey want to push der old goods at high rate but if u are close to Dem, dey sell the cheap ones

RenaissanceGuy:
FG Banning Binance and Binance in turn banning USDT-NGN trading contributed a lot.

Lol you can clearly see the FG pumping USD to crash the price but you still cling to this Binance nonsense. 😂

Engrbee:
Dollar go still rise, no be naija we dey so

Continue to wait for the rising

The Lagos boys are problem solvers!

Talkisneeded:
When will the price of common things fall too...
Because koyemi

Competition will eventually bring it down. Last month, I bought a carton of Indomine for 11k but bought same today for 9k.

Those who bought goods at high price will have to offload at that same price.

easzypeaszy:
I bought rice half bag 31k today but dey said it's Local Sha.
But I noticed somtin..dey want to push der old goods at high rate but if u are close to Dem, dey sell the cheap ones

Hopefully Sha, price will fall soon because I'm tired

NapoleonHill:


Competition will eventually bring it down. Last month, I bought a carton of Indomine for 11k but bought same today for 9k.

Those who bought goods at high price will have to offload at that same price.

They made massive gain during the hike, they should enjoy whatever they are facing too

The only time it will really make sense to me that the Naira has gained strength is when the USD to Naira value is between 700 - 800 Naira.

Skyehigher1:
Congratulations to Nigerians if this template is going on like this week in week out I think by July dollars is going to be 600 or 500 to naira and with direct payments from nnpcl to CBN naira would be bound back before the end of this year naira is going to be 300 to dollars inshallah with this steadily continuing

Ameen thuma ameen

FG should just sell to BDCs at the rate of #400/$1 jare and let everything reset.

jaxxy:


So what's reducing the rates? proganda and intimidating alleged speculators/BDC operators and selling dollar cheaper. Ok let's see how they sustain this charade.

What rates are they reducing, give me instances. Abeg talk like person wey understand the fundamentals or else, i'd ignore you.

Treadway:
5-10 years too long...more like in 3-6months, except both refineries truly come on stream within the next 6 months

I'm particularly waiting to see it touch below 1k so I can load up as much as I can for the next 'bull run', cos I'm not optimistic about those refineries one bit, not with all the falsehood. Dec 2023 they said, na March 2024 ending we dey so, we no see even refined palm oil comot from any of the two that were hyped as ready to go.

U"ll be shocked and disappointed when u see naira failing to obey the rule of the game (bull run). The moment it crosses the 1k bench mark, then the downtrend will continue, this time with a heavy downward spike. There may be little retracement, continuation of downtrend is inevitable. It's no longer business as usual. Therefore u buy, u cry.

So now they're defending the naira but at a higher exchange rate? Penny wise pound fuulish

Putindbutt:
Bayo Onanuga warned them last week but they think he was joking, sell those dollars now before it ends in maximum tears.

Xammie001:


Sir if we have we won't have food shortage at all

that is not what I asked you.

what makes you think Nigeria does not already have enough to feed 300million people?

Putindbutt:

What rates are they reducing, give me instances. Abeg talk like person wey understand the fundamentals or else, i'd ignore you.

u have nothing to say or counter. ignore pls

I think that is the main thing.
real people that needs and transact with the dollar don't much care about the rate but for the rate to be predictable a kind of so that they would be able to make their bussiness projections.
or=laivwire post=129106235]
With the little I know, the Naira can depreciate once again but the FG will never let it reach those levels of #1,700 again.

[/quote]

NothingDoMe:
Lol you can clearly see the FG pumping USD to crash the price but you still cling to this Binance nonsense.

Where's the pumping?, dummies plenty on this forum.

Raph82:
U"ll be shocked and disappointed when u see naira failing to obey the rule of the game (bull run). The moment it crosses the 1k bench mark, then the downtrend will continue, this time with a heavy downward spike. There may be little retracement, continuation of downtrend is inevitable. It's no longer business as usual. Therefore u buy, u cry.

it's my buy. Taink you very much🙏

If the refineries truly do come on stream, that may inform a different approach, but as of this moment, no shaking at all.

Holding the dollar isn't a profit move for me, it is a value preservation move. I trust the dollar to hold its value, so I'll rather keep my shikini wealth/savings in it, so the country doesn't add me to the list of 'have-nots' by no fault of mine.