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Nairaland Forum / Nairaland / General / Business / Naira Now Undervalued After Float, Bank Of America Says (43320 Views)
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Re: Naira Now Undervalued After Float, Bank Of America Says by ArcSEMPECJ(m): 11:07am On Jun 30, 2023 |
allthingsgood: See the way am looking at you.... ordinary comprehension of my comment hard you.....nawaoh |
Re: Naira Now Undervalued After Float, Bank Of America Says by Jayhome24: 11:08am On Jun 30, 2023 |
Bidema: God bless you for the first question you asked them. Naturally many Nigerians have brain but can't use it. EU said this they jumped here talking rubbish without using their brain. America said this they jumped here like a slow poke talking thrash some even blaming Tinubu already a govt less than 4 weeks for a damage of over 22 years. I asked them again when has Nigeria ever monitor or be a decider of Dollar value, Pounds value, Euro value, Rubble Value, Yen Value, Kroner Value? |
Re: Naira Now Undervalued After Float, Bank Of America Says by JasonScoolari: 11:08am On Jun 30, 2023 |
imam07:How does it show bigotry? Lol. You CORNfused? 2 Likes |
Re: Naira Now Undervalued After Float, Bank Of America Says by pacesetting: 11:08am On Jun 30, 2023 |
Exactly. I still don't understand why all these economists around him are not telling him the truth. He wants to use Lagos model to lead a country where 90% of the states are not productive. A consuming nation hoping to improve its exchange rate against producing nations. Is that one not madness? Chloraseptic: |
Re: Naira Now Undervalued After Float, Bank Of America Says by gfelo(m): 11:09am On Jun 30, 2023 |
JasonScoolari: 1 Like |
Re: Naira Now Undervalued After Float, Bank Of America Says by mymadam(m): 11:09am On Jun 30, 2023 |
Parachoco: Abi o πππ |
Re: Naira Now Undervalued After Float, Bank Of America Says by linearity: 11:09am On Jun 30, 2023 |
emmabest2000: Not true, China is artificially undervaluing the yuan against the dollar for years. Washington is against this policy and have been urging China to allow the yuan to compete freely on the open market and China has refused. China is a major export hub to the USA, a weak yuan would favor Chinese exporters and make yuan very cheap to USA importers trying to get goods & services from China. Current weak Naira will attract investors and foreigners willing to export goods & services out of Nigeria, as Naira strengths, the attraction will start dying down as it would become more difficult to get hold of Naira on the open market. 3 Likes |
Re: Naira Now Undervalued After Float, Bank Of America Says by NewLife87: 11:09am On Jun 30, 2023 |
JasonScoolari: hahaha aswer, corn sweet o. Corn and pear. It will be well with only me and ma family 1 Like 1 Share |
Re: Naira Now Undervalued After Float, Bank Of America Says by staga: 11:09am On Jun 30, 2023 |
Parachoco: Don't you know that analysis can be revised? Forward guidance can be revised if you don't know. |
Re: Naira Now Undervalued After Float, Bank Of America Says by clydecarson(m): 11:09am On Jun 30, 2023 |
Re: Naira Now Undervalued After Float, Bank Of America Says by OLOKOESHIN: 11:10am On Jun 30, 2023 |
jmoore:They are just willing to milk Nigeria Dry |
Re: Naira Now Undervalued After Float, Bank Of America Says by NewLife87: 11:11am On Jun 30, 2023 |
Na Ina won make naira be 550 na. With a CORNfused president o. Na magician abi 1 Like |
Re: Naira Now Undervalued After Float, Bank Of America Says by Curvinus(m): 11:11am On Jun 30, 2023 |
emmabest2000: You are actually wrong on this. China on the contrary, manipulates it's currency to keep the value low and discourage it's citizens from buying cheap and superior American goods and rather encourage local patronage and exports to earn more dollars. China does this by buying trillions of Dollars worth of American Treasury bills to maintain a negative ballance of payment and a positive Ballance of trade with huge export of goods and services. A weak Yuan or remnibi is good for an already industrialized economy like China as it would discourage imports and encourage the patronage of the local industries and exports. 3 Likes 1 Share |
Re: Naira Now Undervalued After Float, Bank Of America Says by clydecarson(m): 11:12am On Jun 30, 2023 |
georgeakins: The smart slowpoke you voted where is he hitting the ground to....Y'all are just bunch of nitwits 2 Likes |
Re: Naira Now Undervalued After Float, Bank Of America Says by Karnice600: 11:12am On Jun 30, 2023 |
DeLaRue:Bross, abeg answer these 2 questions with the fear of God make thunder no fire you. 1. What have you ever benefited directly, from the Nigerian government as a citizen since you were born? 2. The supposed subsidy funds retrieved after its removal, where are they channelled? |
Re: Naira Now Undervalued After Float, Bank Of America Says by condralbedez: 11:13am On Jun 30, 2023 |
I want to be president I want to be President for u , drive me there.. now story don change to God will fix Nigeria ππ APC Government is a typical failure, but the administration will favour the VultureBBQgrill and crews shaa. 1 Like |
Re: Naira Now Undervalued After Float, Bank Of America Says by sweetkev(m): 11:14am On Jun 30, 2023 |
blaise26abj:Pump tens of billions of dollars into your economy that your greedy politicians will embezzle right. Just think about your opinion on this. Are you making sense at all ? |
Re: Naira Now Undervalued After Float, Bank Of America Says by gidyambi(m): 11:17am On Jun 30, 2023 |
VenExchangee: I got the advise from madman...πππ |
Re: Naira Now Undervalued After Float, Bank Of America Says by JohnBullMySon: 11:18am On Jun 30, 2023 |
DeLaRue:What a dumb statement. Do you need to engage in international trade before it affects you? Once you have anything to do with imported goods. It will affect you. Your clothes are imported. Most of your food is imported. You may think you consume local food but the raw materials are imported. Do you know that Nigeria is one of the highest importers of palmoil? Yes, palm oil. We import about 80 percent of our palm oil consumption. Our fuel is imported. All vehicles are imported. Vehicle parts are imported. Steel is imported. Construction materials are imported. All industries in Nigeria heavily rely on importation in their value chain. We trade with China but trade in dollars or yen, because our currency is the problem. China cannot afford to stockpile an unstable naira. The exchange rate is not widening because USD is gaining but because Naira has lost value so Naira is losing not just to dollar but to GBP, EUR, YEN and other stable currencies. The result is a massive rise in cost of living without economic growth, meaning that less and less people will be able to afford their lifestyle and will be forced to adjust to a lower standard of life. And you're here saying that it doesn't affect you. 1 Like |
Re: Naira Now Undervalued After Float, Bank Of America Says by Kukutenla: 11:18am On Jun 30, 2023 |
DeLaRue:Nice sermon Preach it first to your leaders |
Re: Naira Now Undervalued After Float, Bank Of America Says by Isobug: 11:18am On Jun 30, 2023 |
DeLaRue:Dumbo.....go back to school, if you had any |
Re: Naira Now Undervalued After Float, Bank Of America Says by stanisbaratheon: 11:19am On Jun 30, 2023 |
JasonScoolari: damn! 1 Like |
Re: Naira Now Undervalued After Float, Bank Of America Says by Mitsurugi(m): 11:19am On Jun 30, 2023 |
Parachoco: Oga what he said is simple economics. |
Re: Naira Now Undervalued After Float, Bank Of America Says by Slynation(m): 11:19am On Jun 30, 2023 |
DeLaRue:Yea, you are correct, but need I remind you Nigeria is dependent on foreign nations for virtually everything, you pay in foreign currency, back home where one has to pay to get his or her goods into the country , you will have to tip some persons. All this payment are not free, the burden are shifted back to the consumers. So when dollar rate increases, PMS increases and everything else will obey... More reasons the first step is to turn Nigeria from a consumption to production country. Unfortunately, the kinda people they elect knows the problem, but are not willing to tackle this problem because a lot of them are benefitting from it... |
Re: Naira Now Undervalued After Float, Bank Of America Says by thegooddieyoung: 11:20am On Jun 30, 2023 |
We have really entered one chance!!! How do men and women with family survive? The tax burden is terrible. Tinubu brought Buhari and APC so nobody should exonerate him from this evil they have collectively unleashed on us. JasonScoolari: |
Re: Naira Now Undervalued After Float, Bank Of America Says by WantsandMore: 11:21am On Jun 30, 2023 |
JasonScoolari:lol. Ok |
Re: Naira Now Undervalued After Float, Bank Of America Says by 11doubledee: 11:21am On Jun 30, 2023 |
Jbleenk:The value of the currency of any country is 98% based on their fiscal and monetary policies. The sad reality is that Nigeria is not important to survival of the American state. Saudi Arabia is supplying the crude oil we bring to the table. We should develop our society and economy well enough, and watch the dollar fall lower than the naira. 1 Like |
Re: Naira Now Undervalued After Float, Bank Of America Says by janvier27(m): 11:22am On Jun 30, 2023 |
Too early to conclude. It'll take at least six months for the naira to settle. Besides, unremitted airlines dollar funds have not been factored into the analysis. |
Re: Naira Now Undervalued After Float, Bank Of America Says by adioolayi(m): 11:22am On Jun 30, 2023 |
βThe caution is transition time, aligning rates and still to unlock more USD into the formal market will take some time. When the dust has settled, the value of the naira should be stronger and appreciating,β the analysts added. For whatever reason, the OP decided not to highlight this part of the statement...maybe because it shows loads of positivity. It's well with Nigeria |
Re: Naira Now Undervalued After Float, Bank Of America Says by Kukutenla: 11:22am On Jun 30, 2023 |
femisplash:All these figures sha 98% of our revenue goes to debt servicing Govt spends 4tn every year on fuel subsidy Yet FG and states shared 990bn in Dec 2022 fron federation account Nigeria has a 14trn budget of which debt servicing is about 30% I think God is already taking care of Nigeria We only fail to appreciate |
Re: Naira Now Undervalued After Float, Bank Of America Says by sslcrypt: 11:23am On Jun 30, 2023 |
Jbleenk: You will also blame the west for the miserable life you have lived also. Always blaming others, when your country is corrupt and doesn't care the cost of corruption. |
Re: Naira Now Undervalued After Float, Bank Of America Says by MoneyMustBMade(m): 11:23am On Jun 30, 2023 |
SmartPolician: You're speak with wisdom You're right |
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