moshuur:

pls any recommendation/solution?

it's been close to 2 weeks

RoyalRumble1:


Why not earn coins for free so you don't feel bothered about it going up or down.
You just wait to collect your profits when it goes up.

okeykingsley:
Good morning friends,

Please I saw a TWT and USDT NFTs in my trust wallet today, I don't know if it's from scammers or if it's legit. Please someone advice me.

Kingofhoes:

Do litepick actually payout boss? Have you cashed out with them?

Robnectar:


And u didn't sign up for any airdrop

Mr2kul:
What's happening in the FX market today. The dump is massive

gamaliel9:


So it was all speculation..785 now

gamaliel9:


So it was all speculation..785 now

Shinjawestside:
Dollar dropping..

doyin01:


In reality 890 is still the current price..on paper it is 785...

LordAdam16:


Currency traders are making a killing from the volatility.

In any case, the stampede may crash the rate to 810-840 in the coming days. The cyclical summer demand pressure is tapering off as well.

After the market realizes the CBN is all vibe and Inshallah, the surge to 1000 will resume.

There are no fundamentals behind the drop. The CBN's accounts are murky. They're bluffing.

The only new measure introduced so far is the CBN forcing remittances through regulated channels to be sold at no more than 2.5% above the I&E rate. Ordinarily, that should have minimal, if any impact; but the current market sentiment is akin to someone yelling fire in a crowded theater.

The rates should crash so shrewd watchers can load up.

-Lord

lionshare:


There are no fundamentals to behind the drop but there are fundamentals supporting the increase to 1000 right? A good number of your likes do not care about Nigeria and Nigerians.

Shinjawestside:
Dollar dropping..

lionshare:


There are no fundamentals behind the drop but there are fundamentals supporting the increase to 1000 right?

A good number of your likes do not care about Nigeria and Nigerians.

StrafordSTONES:



Emotional being!


Someone told you the truth and bringing in sentiment,

The crash is just the market responding to the news of govt putting in measures to bring down rates; but the reality is that things needed to effectively stabilize the naira are not in place .

LordAdam16:


Yes.



Nigeria does not care about you. The sooner you understand and accept this maxim, the better for your mental health.

-Lord

lionshare:



Well Speculating that 1000/USD is also an emotional assumption with no fundamentals.

lionshare:


Its Okay if Nigeria does not care about me but you cant legislate on my right to care about Nigerians. A more stable fx rate benefits all Nigerians in short, medium & long term.

Tohmey:
yoo, usdt to drop small cause of the rummor going rounds

LordAdam16:


This will probably come as a surprise to you, but your "right to care" has no impact on the immutable law of demand and supply.

-Lord

lionshare:


Speculation cannot surprise me! Following the unification fx supply has increased by about 20% while total daily petrol consumption has reduced by 28% which should ideally means a reduction in demand or at worse price stability going by the logic of the immutable law of demand & supply.

https://www.premiumtimesng.com/business/business-news/610411-subsidy-removal-nigerias-daily-petrol-consumption-figure-reduces.html

[url]
https://www.reuters.com/markets/currencies/nigeria-attracted-14-bln-inflows-june-after-lifting-fx-curbs-2023-08-10/[/url]

LordAdam16:


Dude, the CBN is impotent as far as $ supply is concerned.

The CBN borrowed $7B from JPMorgan and Goldman Sachs to sustain interventions under Meffy. That liability has not been cleared.

A few hours ago, NNPCL disclosed that they had borrowed $3B from AFRIEXIM Bank to in their words, "support the Federal Government in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market."

https://www.nairaland.com/7805723/nnpc-secures-3bn-loan-stabilise

Let me reiterate. A so-called soon-to-be-listed privatized government firm is borrowing money on behalf of the FG to stabilize the exchange rate that's within the purview of the CBN.

The CBN is all hat and no cattle. If after perusing these publicly-available information, you refuse to acknowledge the dire state of our FX market, then there's not much else I can do to help you.

The rates will crash further. You can choose to stock up on cheap $. Or miss the rare opportunity. Your choice. We're all free men.

-Lord

lionshare:



Well Speculating that 1000/USD is also an emotional assumption with no fundamentals.

lionshare:


You must think those that release the CBN report are stupid after 7 years of no report; they did that when it was most inconvenient. I will personally advise you to DYOR because those at the elms of affairs (president & his economic team) are core private sector players. They will move mountains to stabilize rates.