God will make everything NEW.

rinzaugustine:
They pumped in $11bn from federal reserves, anytime they stop which is inevitable naira will go back to its now normal of almost 2k to a dollar . They are gambling on the idea that people will fall for the wayo and release their dollars so that it will stabilize the market to an extent

Gambling on a country that depend on importation , no wonder they were after binance

MaziObinnaokija:
same way you tell yo old man at home to shut up.When E reach 5000NG,hope u won't eat yourselves where u live

Just leave them, I wonder how a country that heavily depend on importation will have a valuable currency.. It's not magic

alimiadedayo1:

you brain has been turn upside down

Back to Sender in Jesus Mighty Name

ElSudani:


You have no idea what you are talking about. You've written a bunch of nonsensical stuff without shedding any light on how an economy is supposed to run.

we are used to this action film that always get sour at the end.. Remember some months ago, same thing was done and dollar was around 800-900 and in weeks it went back to 1900...
Make una dey fool una self dey go... I don't have any dollar but if I did, I won't sell

Irupetepete:
we are used to this action film that always get sour at the end.. Remember some months ago, same thing was done and dollar was around 800-900 and in weeks it went back to 1900...
Make una dey fool una self dey go... I don't have any dollar but if I did, I won't sell

Months ago, when? What months are you talking about?

Irupetepete:
we are used to this action film that always get sour at the end.. Remember some months ago, same thing was done and dollar was around 800-900 and in weeks it went back to 1900...
Make una dey fool una self dey go... I don't have any dollar but if I did, I won't sell

The bitter truth is staring at everyone right in the face but Nigerians don't want to accept it.

TrennixGLOBAL:
Prior to threads such as these,

https://www.nairaland.com/8041662/cbn-sells-forex-bdcs-n1251

https://www.nairaland.com/8038990/cbn-policies-paying-off-exchange


The naira has appreciated up to some extent but during the past 2 weeks, i have received buy orders for USD of up to $1million and above including USDT by individuals.

This has kept me wondering what the reason for the buying of huge dollar funds is?

Then the thoughts of this present dollar crash been temporary keeps coming to mind.

Again, there was this thread below which made me knew something must be going on,,

https://www.nairaland.com/8040229/naira-gain-pressure-mounts-fx

Why mount pressure on dollar hoarders to sell?

You don't need to push or coerce someone to let go of something he is holding that it is worthless. Let him see what's happening and he will let go by himself knowing it is useless in the future without being told.
When you try to force the person to let it go at all cost, it gives an indication that it is still useful or you want it or you know the use for it so you want to fool him.


Then i see this thread and my suspicions are beginning to become true,

https://www.nairaland.com/8042891/start-buying-dollars-now-usd

Hello, hope all is well sir? The last thread has been deleted.

Kelklein:
Even a child knows that whatever the CBN is doing can't last if the fiscal side are not doing anything or continues their profligacy and recklessness.

Economy is not run this way.. the current government is doing exactly what the Buhari government did.. showing that we haven't changed our ways. You can't leave only the CBN to be supporting the Economy while all you all do is pad budget, steal and stash money away especially the governors.. no productions or value-added production go on in any state in Nigeria... everyone just wait to get the money and stash it away..

Whatever the CBN is doing right now is like putting a BandAid on a sore... the bleeding would stop but only temporarily.. the ideal thing is to apply Antibiotics (production)..

This is voodoonomics

Naira is appreciating whilst unemployment rate is going up and interest rate plus inflation is rising

The only explanation for this is the CBN has managed to checkmate the hoarders but the real question is what took them so long and is all this sustainable in the long run?

We'll find out more from CBN's interest rate decisions by May