CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength - Politics (8)

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CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength - Politics (8) - Nairaland

Nairaland Forum / Nairaland / General / Politics / CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength (31632 Views)

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Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by stasius: 9:03pm On Mar 25

OfficialP:

That's incorrect

When you float the naira, that's when its true value will be determined

Correct. Just like Egypt recently did. They also floated their currency. The true value is now known.

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by Tmex(m): 9:06pm On Mar 25

OfficialP:

That's incorrect

When you float the naira, that's when its true value will be determined

You would have been correct but when people starts making the dollar a store of value at the expense of the naira theres no way you can get a balance.

1 Like

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by femi4: 9:10pm On Mar 25

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

Nigerians have short memories. Don't mind them

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by schoolboymatt(m): 9:12pm On Mar 25

as a patriotic Nigerian, this is a good bad news I must say.

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by donmik: 9:26pm On Mar 25

Theoretical strength

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by Biodun556(m): 9:27pm On Mar 25

OfficialP:
Is Naira actually appreciating or FG is defending the naira with scarce dollars

If dollars released by CBN to bureau de change operators is enough then naira is appreciating

2 Likes

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by femmy2010(m): 9:28pm On Mar 25

erniok:

Seems like short term plan as we don't have export capacity to earn fx to support this but it's a very welcome development.

If we are able to reduce forex spending on petrol with local refineries coming online..
Things might jolly well get better .

1 Like

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by erniok(m): 9:31pm On Mar 25

femmy2010:

If we are able to reduce forex spending on petrol with local refineries coming online..
Things might jolly well get better .

Things will improve hopefully.

2 Likes

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by Biodun556(m): 9:32pm On Mar 25

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

They can do that only if they are sure that there is enough dollars and the bureau de change are complying

That's why they are doing it small small

1 Like

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by Adolfnigeria: 9:33pm On Mar 25

it appears cardoso wants to go back to the days of subsidizing dollars.
Let's see, one day at a time.

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by femmy2010(m): 9:33pm On Mar 25

OfficialP:
Is Naira actually appreciating or FG is defending the naira with scarce dollars

The FG earns dollars and oftentimes needs Naita to settle local tickets,
Should they pay in dollars or Naira?

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by Afamed: 9:34pm On Mar 25

$ slaves go cry tire

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by femmy2010(m): 9:35pm On Mar 25

EMONFASHION65:
Dollar is appreciating at 1400 and we are rejoicing.Do you remember that dollar was 700 few months ago?.Are we moving forward or backward?

Don't forget that Naira exchanged for N1,920 to a dollar 30 days ago.
These little victories should be celebrated.

7 Likes

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by bigiyaro(m): 9:50pm On Mar 25

All these rubbish paper and biro calculations, pls inform me when rice comes down to 30k, and cement runs #3.8k.

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by proff010: 9:50pm On Mar 25

We know Dem na our blodda, if dollar go up they will complain if the thing go down they will still complain.
We will surely get there.

dibunotion:
But ppl still sad about naira appreciating

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by alwayzonlyn(m): 9:52pm On Mar 25

Naira appreciating is a good development; I really hope definite measures to sustain this stride are put in place else, the government will become a laughing stock after all the media fuss about this gain.

But why do I feel like the government is doing everything possible to push down the dollar rate as low as possible before the minimum wage negotiation committee begin to meet with labour, since labour unions are using the dollar rate as a yardstick to put out their proposed minimum wage amounts? grin

2 Likes

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by bigiyaro(m): 9:53pm On Mar 25

femmy2010:

Don't forget that Naira exchanged for N1,920 to a dollar 30 days ago.
These little victories should be celebrated.

victories in which war and against who? The same idiots that protested against #216/1$ and #7,500 for a bag of rice?

2 Likes

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by Helinus: 9:54pm On Mar 25

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

Anybody that sells their dollar doesn't have any business hording dollars.

Dollar wilk still rise

1 Like

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by Helinus: 9:56pm On Mar 25

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

Don't dump it, dollar will rise unexpectedly.

Subsidizing dollar is a gimmick, its a temporal solution.

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by BreconHills(m): 10:05pm On Mar 25

Jflex07:
I hope this dollar rate coming down,will continue until at least 700 naira.

It doesn't need to come down to 700 for two reasons - exports and secondly that 700 that people were using as a benchmark was false price being propped up by $1.5bn per month subsidy.

1 Like

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by drlateef: 10:06pm On Mar 25

dibunotion:
But ppl still sad about naira appreciating

Those are ipob and obidients. They are sadists. Ignore them.

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by Illegal1(m): 10:11pm On Mar 25

Lance008:
If Tinubu like mak he no do anything If this Naira fit come down He re election sure

omoh..........i swr

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by Babalegba(m): 10:15pm On Mar 25

Helinus:

Don't dump it, dollar will rise unexpectedly.

Subsidizing dollar is a gimmick, its a temporal solution.

Lol, you are pitting your wits against Tinubu,you will lose and your loss will be great. I hope you are handicapped financially for life when it happens because you are an enemy of Nigerian children. Your loss is not a matter of if but when.

2 Likes

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by xtimconsult(m): 10:20pm On Mar 25

seunowa:

Baba settled with the north or not, obi will never become Nigeria president

You still dey cry... Obi is actually you worst night M.

Cry baby

2 Likes

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by Donaldoni: 10:23pm On Mar 25

femi4:
Nigerians have short memories. Don't mind them

Refineries will soon begin operations

Cut your losses and sell your dollars now cheesy

Earn dollars. Don't hoard it. cool

1 Like

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by RecentHistory: 10:25pm On Mar 25

Helinus:

Don't dump it, dollar will rise unexpectedly.

Subsidizing dollar is a gimmick, its a temporal solution.

Buy more dollars bro. Buy more.

Your loss will have surname. Woeful loss.

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by commoditiesnig: 10:27pm On Mar 25

AngelicBeing:
Dollar Hoarders in the mud

Lol

1 Like

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by pquaver(m): 10:43pm On Mar 25

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

Shebi u don see am now say Nigeria problem no be only politicians.. Even that u very next door neighbour, the next person u pass on the street are all part of the destruction of this great country

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by Greigns: 10:45pm On Mar 25

Good,it will keep dropping.. cbn will be d driver,aboki will just follow dine his cut is confirmed.. someday it will be 1 to1

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by Talkisneeded: 10:46pm On Mar 25

pquaver:

Shebi u don see am now say Nigeria problem no be only politicians.. Even that u very next door neighbour, the next person u pass on the street are all part of the destruction of this great country

It's the direct reflection of the leaders, it the leaders sits right, citizens will follow suit

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by Paraman: 10:51pm On Mar 25

lexy2014:

but is this not the same APC lamenting and wailing that a dollar to N200 was too high?

keep on living in 2014

Re: CBN Sells Forex To BDCs At N1,251/$1as Naira regains strength by femmy2010(m): 11:06pm On Mar 25

bigiyaro:
victories in which war and against who? The same idiots that protested against #216/1$ and #7,500 for a bag of rice?

I prefer 1,300 to N1,920 still

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