SenecaTheYonger:


Why won’t they mop up dollar when CBN made it soo cheap?

I wish it went to 500/usd. With how high inflation is, you dare make dollar that cheap? Especially now people wan japa.

I pray they bring it down again 🙏

The Lions are waiting to mop up every single dollar in the economy if the dollar should fall to that rate and you would wonder what happened to all the dollars CBN has been releasing.

tollyboy5:
I noticed most of this site most especially crypto app are very reluctant to reduce their exchange rate even when the dollar dropped to ₦1000/$.
I'm thinking majority of Nigerians including me prefer swapping currency digitally than going to aboki shop. And since the digital BDC or crypto apps are not following the street trend they sell and buy dollar at a higher rate.
So more transaction is been done in usdt.
I charged someone in dollar yesterday and when I got paid I got to exchange to naira immediately and got higher Dan my expectation.
Maybe CBN will have to digitalize the process of this exchange rate against that of the usdt so we can also do this stuff at ease from our room.
The BDC operators are not even needed to be honest, anyone that need forex should be able to apply online and get what he wants from his room if he met the requirements.
I think it'll be easier to track the dollar flow through this method, the CBN should create a model that will override both the BDC and the usdt crypto apps.
If not the usdt against the naira and those acquiring forex illegally will continue to depreciate the naira at will.

Shut up.

For your mind strict fx control is the fix for currency depreciation?

lwise:
Exchange rate as at this morning, Saturday 20th April is 1$ = N1,200.
It's clear some individuals are mopping up the Dollars released by CBN for reasons best known to them.
An unverified info stated that banks are the ones mopping up the Dollars in circulation in the name of clearing the backlog of the aviation industry.
It's obvious these banks are working against the CBN goal to strengthen the Naira.
CBN needs to step up its game because the banks are ready to use the loop holes in the CBN policies to their own advantage.


https://www.nairablackmarket.com/

You go explain taya, na to blame banks now

maziemeka2024:
It's all about speculation. Since the CBN governor claims he is not supporting the Naira from reserves and does not plan to. He has given the speculators power to control the market again.

CBN should on Monday sell dollar to BDC at N1,000 and make it public that they are intervening in the market.

Prices will come down to 1,000 or less.

I don't know why CBN Governor is giving unnecessary explanation to those people that don't wish Nigeria well.
He should sell to them at ₦900

tollyboy5:

I don't know why CBN Governor is giving unnecessary explanation to those people that don't wish Nigeria well.
He should sell to them at ₦900

I dont think this will work again.

With the small amount they pay to BDCs, that will now be mopped up in a matter of days.

Speculators are now seeing that as source of cheap dollars.

The mystery of the dollar appreciation is no longer a mystery. The Government has no solid plans in place

May God help us.

ForValour:
Production, use of local content are the sure ways to stabilize the floating naira other policies wont do nada

They don't want to listen at all. Every other intervention is temporary and artifical, therefore unsustainable

quadraheem:
It’s a lie. You just wanna start your speculation again, it won’t work.

How is it a lie?

tollyboy5:
I noticed most of this site most especially crypto app are very reluctant to reduce their exchange rate even when the dollar dropped to ₦1000/$.
I'm thinking majority of Nigerians including me prefer swapping currency digitally than going to aboki shop. And since the digital BDC or crypto apps are not following the street trend they sell and buy dollar at a higher rate.
So more transaction is been done in usdt.
I charged someone in dollar yesterday and when I got paid I got to exchange to naira immediately and got higher Dan my expectation.
Maybe CBN will have to digitalize the process of this exchange rate against that of the usdt so we can also do this stuff at ease from our room.
The BDC operators are not even needed to be honest, anyone that need forex should be able to apply online and get what he wants from his room if he met the requirements.
I think it'll be easier to track the dollar flow through this method, the CBN should create a model that will override both the BDC and the usdt crypto apps.
If not the usdt against the naira and those acquiring forex illegally will continue to depreciate the naira at will.

Bros weldone o. Abeg you fit teach me how to make money in dollars. I can do anything with my laptop and phone.🙏🙏🙏

I can design, write, develop websites etc.

tollyboy5:
I noticed most of this site most especially crypto app are very reluctant to reduce their exchange rate even when the dollar dropped to ₦1000/$.
I'm thinking majority of Nigerians including me prefer swapping currency digitally than going to aboki shop. And since the digital BDC or crypto apps are not following the street trend they sell and buy dollar at a higher rate.
So more transaction is been done in usdt.
I charged someone in dollar yesterday and when I got paid I got to exchange to naira immediately and got higher Dan my expectation.
Maybe CBN will have to digitalize the process of this exchange rate against that of the usdt so we can also do this stuff at ease from our room.
The BDC operators are not even needed to be honest, anyone that need forex should be able to apply online and get what he wants from his room if he met the requirements.
I think it'll be easier to track the dollar flow through this method, the CBN should create a model that will override both the BDC and the usdt crypto apps.
If not the usdt against the naira and those acquiring forex illegally will continue to depreciate the naira at will.

Your points are worth noting for the progress of the Country.

nlfpmod seun mynd44 should move this to prontpage for public contribution

Wave analysis 4 hour chart:
Fifth wave about to begin after the correction capped at 1161.78.

The fifth wave is projected to hit 830.

The way Dollar go crash ehn! Thanks to TA!

Elliotwaveforec:
Wave analysis 4 hour chart:
Fifth wave about to begin after the correction capped at 1161.78.

The fifth wave is projected to hit 830.

The way Dollar go crash ehn! Thanks to TA!

I pray it crash o

Elliotwaveforec:
Wave analysis 4 hour chart:
Fifth wave about to begin after the correction capped at 1161.78.

The fifth wave is projected to hit 830.

The way Dollar go crash ehn! Thanks to TA!

baba,

the thing is going in opposite direction ooo

nawaforyouo:


baba,

the thing is going in opposite direction ooo

New low! Na technical analyst Abe o. See crashing!

Give me any asset, a go predict with precision. I analyse and trade for a living.

I'm impressed that a lot of people are seeing past the BS. Dollar will continue to rise until we start doing the right things like some people have already rightly mentioned. For sake of emphasis, we need to;
1. Be aggressive with production-This will directly impact export and give us enough FOREX.
2. Plug the crude-oil leaks-We get paid for crude oil in dollars, so i believe that explains itself.
3. Stop illegal mining of mineral resources-Most of our mineral resources are owned by individuals who barely pay anything to the FG. Change this, make it like crude oil, and our FOREX will increase.
4. Fix insecurity-Once foreigners feel secure enough, they'll invest in Nigeria and that will directly impact our FOREX.

There are more things we can do for naira to gain against the dollar, but with these few i mentioned above, the gain will be substantial.

Now the biggest questions are, will they do it? Do Nigerians even care enough to force them to do it? Some of you already know the response to those.