₦airaland Forum

Kondomatic:
Did Nigerians vacate other countries and return home before they got their independence?

What I actually said was that if Goodluck win and they attack us, we would fight back

Singapore1:
rupees?

eliteweb:
lol!

So u know say Everything no be for EVERYBODY and you no fit jump & pass my comment?

eliteweb:
I think them need to open one thread for
Lordadam16
Onatisi and
Wami7470

Make una take dey do all dis una plenty analysis.


Our own Here na to buy/sell

wristbangle:
Where is 98900 sef?

$2.3k AGC available @ 360

Escrow? Yes... Thank you

Singapore1:
you follow am come here

Singapore1:
breaking news

modath vs clone2020 doing anoother version of
bookiemart01 and exchanger101

vizboy:
Then go send me go Village

initialize:

vizboy:
Come at 55/¥

initialize:

LordAdam16:
CBN don dey do like woman wen dey c period, too volatile.

One day you hear 306, another day you hear 350-370, another day you hear 400-420. Anyway, I like where the direction is going, e b like say reality is setting in.

CBN hand don weak, news now na say them 1 increase sales from IMTOs to BDCs, while they ration sales of wholesale forwards (money coming from reserves). Party don end. Everybody in the CBN is sober now.

The CBN now wants to use panic to quell dollar demand. Unfortunately, it's having the opposite effect.

-Lord

wamiikechukwu:
Am surprised never knew female follow the fx market like this so...

LaconicINC:
Kai I knew it was a wild goose chase, so no more dollars to pump abi, it was all Mary Kay make up, now the make up is wearing out and the ugly face is resurfacing

justwise:
You are not far from the truth.


I'm surviving,,thanks for asking. How 9ja?

justwise:
Well..there should be peace now..

Abagworo:
No Sir they said they want it to revolve around 380. Let us see how it goes but they can bring it down to 350 in a week.

“The fifth one is that there is no personal communication between the senators and the president. There is need for this,” he said.

DesChyko:
Since nobody has mentioned this popular slang, let me do so.

How can such massive mismanagement be going on under the administration of Mr Body Language? Or are we still under the so-called Ineffectual Buffoon?

Where are those critics when you need them?

The EFCC is probing how the cash got into the account, who remitted it and for what purpose

LordAdam16:
Madam, the CBN knows the party is ending. They don't want a replay of 28/02/17 to 08/03/17 to occur. So, they're giving early indications that they are still on the offensive.

I wouldn't pass it off completely as hogwash. Who the gods want to destroy they first make mad.

But what I sense is panic on the part of Okarofor, the CBN, and the FG. Unlike in the early days of this month when they started their second round of intervention, the oil price was rising, currency reserve was rising, and speculators still had lots of dollars in hand.

Now, the oil price have fallen, currency reserve is falling, and speculators have reduced their exposure in a big way. Seriously, speculators wouldn't make big losses now. They'd solely be eating up every cheap dollars they can lay their hands on.

If the CBN wants to, they can inject $1.5b to reduce the parallel rate to N305/$1. We all know they can't go lower, and as they've said, that's their target. This is the first time they've actually made that known in public. However, if they wanted to reduce it further, IMTO's will cease sending money to Nigeria. Investors will scream blue murder. Foreign remittance will stop increasing. The pressure on the foreign reserve will increase multiple fold. And FDI will halt completely (not that anything was coming in anyway).

When parallel rate appreciates to N305/$1 and there's no where else to go. There'd be only one direction for the rate to go. The fall will be the biggest fall in recent history.

I can't wait.

It's clear that the CBN and FG are masochists. And Nigerians wouldn't get pity, because it appears they too want to listen to blues.

-Lord

989900:
Read my post again, Mo.

It was about optimism about 'improvement' in power and refining capabilities of our present government refineries; not solution, nor nirvana. Pessimism is allowed too. I have my reasons for posting what I did (just same way I called N350 to the dollar about a month ago even though you vehemently disagreed), I just don't sit and think or hope them . . . bookmark and let's revisit in 6-9 months.


P.S. Diaspora remittances at say $40b in a year when rates harmonize plus selling oil at $30 per Barrel brings in as much Forex as selling just crude at over $75 per Barrel 'if' rates harmonize.


There are actually a few government programs designed to bring in more of those remittances through housing schemes for guys overseas and some other means.

Well, let's revisit in 6-9 months.

Singapore1:
Omo Dollar Don retaliate o