karkinase:
#1000 is the last support .. @ this point CBN and speculators will have a huge battle for price next direction.. anyone who wins we will follow

erosimo:


Obviously, you are a forex trader, the support will be tested. However, the support is not strong enough because it occured only in between october and november...what will determine the direction further is hanging on the economy policy of the government

Elliotwaveforec:

Comrade, what broker is this?

Richtaiwo:
Reno has advised hoarders of dollars to sell them out before Dangote refinery products hit the market, but ipob miscreants said Tinubu paid Reno Omokiri to help spread propaganda. This is because any good news about Nigeria always give them diarrhoea, and therefore prefer it isn't true. Let's see how it goes.

advanceDNA:


I saw what mynd posted.....And I told him our food imports is way higher than that..cos wheat is not our only food imports.....

My point is we need more than stopping fuel imports to greatly improve our exchange rate which is why Reno is being tackled for fallacy and propaganda spreading....
Have u even accounted for heavy corruption
.can u even account for it in the exchange rate

GreatrAnalyst:
Stop this note of appreciations, biko.

When will it be felt on the prices of commodities

CCIA:

When old stock is no more.


I install sense at an affordable rate.

iamtoofan:



Ok! but you didnt backup your claim, however i assure you, Nigeria net import of foodstuff can not be greater than petrol import lets be realistic here

US and China are the greatest net importer of foodstuff but these two nation have the biggest economic in the world .. which invalidates your arguement

Tflex01:
I don't still understand why good news still make some people mad in this country.

Nawa

advanceDNA:


Demand for naira is what largely will boost naira in a floating currency system....

...hope u understand that Dangote is not exporting crude oil products to other nations in naira...he's being paid in dollars for his exports ....

If care is not taken...the old man can start to demand for dollars from local market because he imports crude oil in dollars to refine...

His business operation will not significantly boost naira as Reno claimed without the government heavily paying subsidy on the exchange rate as they are doing now......

Thats why they are saying Reno is a paid propaganda spreader.....

GreatrAnalyst:


You almost sounded funny but then rather dimwitted, and disillusioned.
Even if you are half human and you have been in Nigeria long enough, you would know that an average seller would rather make prices stay up than come down.

Naira depreciated daily, prices of stuff responded by climbing daily.
Now that naira has been appreciating for over 3 weeks, there is hardly commodity that has reflected that, and you think the sense you claim to install you don't need it yourself?

ignis:
This is a short term fire brigade solution. Time shall tell.

Angelfrost:
This is good news...!

However, if you people are secretly subsidizing the currency with loans, thunder go faya una.


If the Naira is strengthening due to other steps like exports, local production and consumption, etc... Then, may God be praised.


Meanwhile, prices of some goods are still going up... Fuel is still being sold at #700 per Liter.

IMAliyu:
While I like the fact that the Naira is appreciating, it seems to be artificial, and it seems our FX reserves are being used to defend it.
This is not sustainable, unless the CBN has some unknown plans to solve this.

advanceDNA:


Demand for naira is what largely will boost naira in a floating currency system....

...hope u understand that Dangote is not exporting crude oil products to other nations in naira...he's being paid in dollars for his exports ....

If care is not taken...the old man can start to demand for dollars from local market because he imports crude oil in dollars to refine...

His business operation will not significantly boost naira as Reno claimed without the government heavily paying subsidy on the exchange rate as they are doing now......

Thats why they are saying Reno is a paid propaganda spreader.....

yommen:



All your talk na under probability.

IamCookie:





Are we dashing him crude oil? Dude is paying for every crude oil feedstock in US dollars. If the FG wants to help Nigerians pay less, it would sell crude oil to Dangote Refinery in Naira but it doesn't want to for 2 reasons.

If it does sell to Dangote in Naira, Dangote can take advantage undercut supply to Nigerian marketers, whilst selling a large quantity of refined petrol to his international market in Africa, thereby making huge profit ( ie buying crude oil in Naira and selling refined products in dollars). Na Dangote naa. They know he is a smart crook.

Secondly, in the event that Dangote plays ball and sells in Naira to Nigerian marketers, Nigerian petrol would very cheap, and then the same marketers would be diverting products across the borders for heavy gains, just like they were doing during the heavy subsidy era.

Nigeria na complex country, i swear down.

CCIA:

Blame your fellow greedy Nigerians, not the government.

lean witted member of the sheeple.

socialmediaman:
A wise man once said:

"You knew what was at stake, you said you could do it, and even went further to steal the mandate. So get the damn job done".

If Naira crashes to N490 = $1 where Tinubu met it, then crashes further from there, I'll commend the Tinubu government.

Anything more is Sycophancy

Fremodex:
You be olodo...tinubu met dollar at 760 thereabout and before it come down to that, it took emefiele and co a lot of work by constantly bursting BDC operator.

omooba969:


That's 👇 that's the clue right here.

emkz:
Let us remember someone insisted the naira would plunge to 2,000 to a dollar.

Some of his disciples here said his cry was the reason the naira did not crash further.

For those naysayers, the naira appreciated because CBN clamped on speculators, enhanced regulation, kicked out unlicensed operators and sold dollars at their own rate and warned those who resold the dollars to do so at a specified margin or face sanctions.

Guess what? Many people like Landmann are unhappy because they probably lost a lot of money betting against the naira.

slimthugchimee2:


Only someone that did not actually study this chat will fall for this


If it's been subsidized, tell me how the FR was at 32b around the Feb(peak of naira collapse) but rose exponentially in match when they started the naira defence you claimed?

ryloy:


Olodo, Naira was being defended at that rate close to $20 billion yearly
So you want the trend to continue?

nedu666:
I don't believe bdc survive on $10k a week on 2 naira spread.

Richtaiwo:
Reno has advised hoarders of dollars to sell them out before Dangote refinery products hit the market, but ipob miscreants said Tinubu paid Reno Omokiri to help spread propaganda. This is because any good news about Nigeria always give them diarrhoea, and therefore prefer it isn't true. Let's see how it goes.