Lancee's Posts
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Oga mi current and oga Ogg we need both of you in this forum ..I beg easy ..Both of ur analysis have been helpful on this Forum We re all making the money Hope for Santa Claus bull ![]() |
Nigeria does not see its foreign exchange reserve level falling to $30 billion and so is not contemplating a currency devaluation anytime soon, a senior Central Bank (CBN) official told BusinessDay last night. It had been reported last week that CBN Governor Godwin Emefiele had told investors in London the apex bank would consider a review of its exchange rate management mechanism if the reserves were to fall below $30bn. However, the senior CBN official said “the bank does not see reserves falling to that level given the stability in oil prices”. “In any case, the talk about setting the reserve level as a trigger for an adjustment of the Central Bank position on the exchange rate must also be linked to oil prices. The Central Bank closely watches this as well as the reserve level,” the official said. According to the high level CBN official, “Our view is that both have to be taken together. For as long as oil prices remain in the $50-60 per barrel range, we do not think there should be any panic and even then we do not think reserve levels will fall to below $30bn. Remember that the last devaluation took place at a reserve level of $23bn.” He said the current government “came in at a time the reserve was $31bn and we did not devalue, so there is no question of a devaluation simply as a result of the reserve level falling to $30bn”. Also speaking on Friday evening at the bankers’ dinner in Lagos, Emefiele highlighted Nigeria’s healthy reserve level as well as improved foreign exchange inflows into the country. He attributed this to “the impact of a tighter monetary policy regime, attractive yields in the money market, and our efforts at supporting domestic productivity in the agriculture and manufacturing sectors, along with improvements in oil production”. “In the I&E window, over $60 billion worth of transactions have taken place since the inception of the window in April 2017, and our foreign exchange reserves are above $40bn as at October 2019, relative to its low point of $23bn in October 2016,” Emefiele said. “We have been able to build our reserves in the midst of lower oil prices, as strong reserves aid the confidence of domestic and external investors. Today, our current stock of external reserves is able to finance nine months of current import commitments,” he said. On exchange rate, Emefiele said “with a moderated inflation rate, positive GDP growth and improvements in our external reserve position, the naira-dollar exchange rate at the I&E window has remained stable for the past 29 months at N360-$1 and we have witnessed significant convergence in the exchange rate across the various market windows”. BusinessDay analysis shows that the futures market has remained at the spot level for a long spell and traders said savvy investors have been using the market to hedge, a clear indication of a much-improved forex situation and of the absence of panic. FX reserve unlikely to fall to $30bn, no devaluation on the horizon – CBN |
The conditions for stable Naira are still Pretty ok for Now . . Between 6 to 8 months from now we will know the situation of things The reserve is lil bit short of 40B Oil prices above $60 also good for the budget ..Emiefele also said there won’t be much concern unless reserve gets to btw 25B to 30B Also if cbn can get more inflows from the FDI’s Fingers crossed |
OgogoroFreak:If rates are fairly ok then u can still Hedge agst it if u get caught up ..But if rates are not good then what do u think sir by the time the funds mature Also u can invest in areas u can easily cash out at most 6 months /minimize ur exposure as well You can as well Diversify some of ur funds |
PETERiCHY:Well said sir..low rate locked in then devalu catch u in the middle ..That won’t be a good experience |
Mcy56:Make we continue the support ..more media pumping ![]() Access must deliver |
Pumpin up the selling/buying vol |
[quote author=locodemy post=84439961]I just saw a bullion van loaded cash going to customs street. They are still trying to allocate the funds today to diff departments of stocks |
Mcy56:ok thanks ..Noted |
Mcy56:Anyone experienced this ..was trying to place order on 6.60 ..almost 5 times , buy bottom seized /froze ..Immediately the thing got sucked up till 7 It was after all got sucked up ..the system was not asking me if I wanted to place the order @6.60 |
FBNH always leading .. watching to see how far |
aremso:U said it all sir ..If you re not ready to study /read about stock market , study the market ..Its better to manage the lower rates for Tbills ..The funds managers /pension managers not ok with the tbill yield with huge funds know when to invest in stock market and when to comot ..They go for opportunities /yield |
feelamong:Its all written all over the wall..Too much money chasing same thing , the CBN don make up their mind that's what they want to do for Now ..We either endure with them or look for other options ..Till they are done with their magic Imagine locking ur money for 1 year for 8% compared to 13/14 %....After u don collect ur upfront intrest and finish spending person eye go clear and wan go terminate am ..Some people will still prefer this anyways ..Nothing too small Diversification still one of the best way ..All of us don dey used to the every 2 weeks Tbills Auction with good rates ..Hopefully it will come back one day |
uba , access, fbnh .if they come down more ..Good deal |
Mkt slow with low vol ..Will see reactions as we wait for todays tbills rates ..since equities partly depend on local investors as well "my opinion " |
locodemy:There maybe a reason for selling not known to us ...the person may want to reduce his stake for other investment /biz opportunities I believe it will rally but may not go far as pple dey target 32 Make we dey watch as the zee drama continues |
Mcy56:"Yes he did drop ..the thing neva finnish since few weeks..Huge vol Until he is done ..Zee still fit no move unless massive bull |
Mcy56:I think so o ..waiting till the end of mkt |
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[quote author=RabbiDoracle post=84286610]Where were you when FCMB was selling at 1.6 for many weeks? Though not bad but you can still hold. There should be continuation of the bullish run so you can cash out. Oga mi R.. onifa that time I Dey buy Uba , Zee .. Access Neva thought abt it .. Na recently I made up my mind to go for it .. Thanks for the info .. Even if Na to cash out we go make some profit |
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Mcy56:U re right ..na stock wey fit trigger person emotion anyhow ..I think they still good this yr in terms of div pyment ..not sure in terms of cap appre how fr it will go if there is any massive bull Some analyst even predicted 2.80k div.. for div lovers and pple wey no dey rush its cool for them We keep watching for this NSE anything can happen ..Fit reach 30 self One thing I respect naija banks for mostly tier ones ..them dey rugged no matter how they will still make money ..if one door closes another go open for them |
[quote author=OBAGADAFFI post=84278929]If Access beat Zenith, can Access pay N2 dividend? If Access is selling at N20 what will be her dividends yield? Zenith currenlty got the highest dividends yields on NSE. Just looking at GTB vs Stanbic . When it time for dividends, I will buy GTB before thinking about Stanbic. I think for Access one may get good cap appre ..going for zenith one may get good div yeild ..It all about individual strategy ...NSE na funny place Focusing on bt div /cap appre ..See first bank with poor div for the past yrs just dey go up anyhow , while there are some stocks with good yeild still dey lazy to go up..I wont be surprise if Access get closer to Zee |
Chai ..Zee don show us pepper ..Sold billions upon billion for past 2 week still neva finish dumping ..pple don taya Bullion van dey come shortly ..maybe it will go up b4 i re-strategize ..Also rebalancing of portfolio by yr end fit push am to 34 ; [joking ] |
[quote author=mendes911 post=84276351]Nothing is guaranteed in this business. Just have a plan that works for you and try and stick to it. On same page with you sir..Best to have a strategy that works best ..All equal next week /dec will know how wetin dey |
mendes911: Oga mi Mende M ..I just wan diversify to few more stocks/opportunities .I dey on profit for my Ist portf ..Just wanted more to close to the FY div ..The other portf na just dey hope to breakeven ..I have tied soo much on this Zee.. Na yeye stock even Gtb don dey behave like Zee now Got fcmb on 2.03 and fidel for 2.00 ..Like you said i go wait till result comes out to buy more or chop even if na 50kobo/unit if the result dey good Money must move around some stocks to make more money ....I wan be like you make half of my potf be choppin 10% or more ![]() |
rebekah2011:Got u sir ..am just in for div/cap appre in the short term |
rebekah2011:Like 3/4 months sir |
Mcy56:I taya for this Zee , thinkin of reducing my stake ...b4 my strategy was my profit must be same or more than the div expecting ..Got in at 17.70 my profit not up to the div expecting..other zee account na 19.80 @ small loss I go see how next week will be like .. Maybe I fit pump more to fcmb /fidel |
RabbiDoracle: ![]() |
FBNH don vex o |
FBNH almost take over ..Too much laziness not good |
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