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Nairaland Forum / Nairaland / General / Business / CBN Begins To Clear FOREX Backlog (21434 Views)
CBN Releases $500m To Clear Verified FOREX Backlog / CBN May Not Clear FOREX Backlog — Report / Old Notes Circulation: CBN Begins Monitoring Today, Banks Set Two-week Target (2) (3) (4)
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Re: CBN Begins To Clear FOREX Backlog by Geovanni412(m): 6:10pm On Nov 02, 2023 |
Yourprick: So, they said about those that bought at 680 then 860... See where we are now, rejoicing over 1k dollar to naira. Things will change substantially once we get our export game on point...everything else is a stop gap measure. 11 Likes |
Re: CBN Begins To Clear FOREX Backlog by fatboyslym007: 6:11pm On Nov 02, 2023 |
SoNature: I think you should study these before commenting, economics and dynamics of foreign reserves, debt servicing, currency rate dynamics, the meaning of forex backlog and it's effects. ChatGPT would enlighten you on these. Thank you. 8 Likes |
Re: CBN Begins To Clear FOREX Backlog by optimusprime2(m): 6:21pm On Nov 02, 2023 |
seborrhic: You have a solid point. |
Re: CBN Begins To Clear FOREX Backlog by Calitoscassius(m): 6:23pm On Nov 02, 2023 |
Ikaeniyan0:Yea right! You can only keep hopping, nothing wrong with keeping up hopes. Go and find out for yourself how much dollar is. |
Re: CBN Begins To Clear FOREX Backlog by SoNature(m): 6:25pm On Nov 02, 2023 |
fatboyslym007: Sorry, I won't. Believe whatever you like. Someone like myself built ChatGPT from neutral feedback. |
Re: CBN Begins To Clear FOREX Backlog by Ikaeniyan0: 6:27pm On Nov 02, 2023 |
Calitoscassius:You can't expect to start seeing the effect immediately. Dollar is presently selling below 1200/$. I and other Nigerians hope it gets better 5 Likes |
Re: CBN Begins To Clear FOREX Backlog by Calitoscassius(m): 6:28pm On Nov 02, 2023 |
Geovanni412:Don't mind these goons, some of them have never exchanged 1 dollar before, let them go find out for themselves how much dollar exchanged today. They are not even excited about the so called naira appreciation, they are rejoicing in sheer believes that people will lose money, more like envy and hatred. 7 Likes 3 Shares |
Re: CBN Begins To Clear FOREX Backlog by wanimo: 6:29pm On Nov 02, 2023 |
Gajagojo:will you keep quiet and stop spewing rubbish. |
Re: CBN Begins To Clear FOREX Backlog by Calitoscassius(m): 6:30pm On Nov 02, 2023 |
Ikaeniyan0:So you said. As i said, nothing wrong with keeping up hope. If only hope works practically. |
Re: CBN Begins To Clear FOREX Backlog by Lonepair1: 6:31pm On Nov 02, 2023 |
Hello . If you wish to learn or become profitable trading the financial market(Forex ) . Kindly send me a DM |
Re: CBN Begins To Clear FOREX Backlog by grandstar(m): 6:32pm On Nov 02, 2023 |
My worry is whether there'll be forex to service new obligations. What steps are the CBN and the finance ministry taking that new inflows of dollars come so as to fill up the foreign reserves to at least 3 months cover? My worry is that the present loose monetary policy by the CBN will create a situation where demand for FX will always be greater supply. 2 Likes |
Re: CBN Begins To Clear FOREX Backlog by Ikaeniyan0: 6:32pm On Nov 02, 2023 |
Calitoscassius:Base on the intervention of the CBN, naira is no more falling badly. If the money the FG is expecting starts coming in and the Dangote refinery starts working, naira will keep on strengthening against the dollar. 10 Likes |
Re: CBN Begins To Clear FOREX Backlog by zionstaar75: 6:33pm On Nov 02, 2023 |
optimusprime2:I'm not sure this one even finished secondary school 11 Likes |
Re: CBN Begins To Clear FOREX Backlog by blacksam01: 6:36pm On Nov 02, 2023 |
LordAdam16: @lord, law is law, u cant deep hands into foreign reserve without the consent of the senate..its naija's money and not presidency money..so tinubu by doing such even if it meant well has committed an impeachable offence... again, FG being the main supplier of FX into a country madly in need of it is just a jimmick nd cant hold the pressure on the local currency " the naira" down for so long... the country needs to pet talk firms like naija international banks nd big multinationals like dangote international to please bring their hard earned FX home to hrlp FG solve the problem of FX supplies the dangote refiniery will indeed help reduve pressure but only at the demand side.nd this may not b at a significant level... the economy is on a free fall nd at a very difficult stage..tinubu ought not be appointing very bogus cabinet or announing very financially reckless lifestyle.. truth is tinubu is too engrossed with politics we need an economy very concious leader..not him 1 Like 1 Share |
Re: CBN Begins To Clear FOREX Backlog by Teepresh2: 6:36pm On Nov 02, 2023 |
Let me go and sell all my dollar o🏃🏃🏃 |
Re: CBN Begins To Clear FOREX Backlog by Calitoscassius(m): 6:37pm On Nov 02, 2023 |
Ikaeniyan0:Yes, more wishes and hopes, if, if and more if. Dangote will perfom magic. We wait for that day! Meanwhile?? 1 Like |
Re: CBN Begins To Clear FOREX Backlog by obi58: 6:38pm On Nov 02, 2023 |
Gajagojo: Kai don't say what you don't know. Which CBN foreign reserves? Is CBN now an independent body? Can CBN spend a dime of the foreign reserves without approval? If the FX deficit was the problem why has CBN not just debited the FX reserves all this while to flood the market? Why is the FG securing a $10bn loan to meet its matured FX obligations then? 2 Likes |
Re: CBN Begins To Clear FOREX Backlog by Ikaeniyan0: 6:39pm On Nov 02, 2023 |
Calitoscassius:Yea, we are already seeing the positive results already 2 Likes |
Re: CBN Begins To Clear FOREX Backlog by Hakeem66: 6:39pm On Nov 02, 2023 |
I bought $5k at 1090, I will not panic because it's going to rise again.i will buy again if it drops again because am targeting ,$15k. 3 Likes |
Re: CBN Begins To Clear FOREX Backlog by Calitoscassius(m): 6:41pm On Nov 02, 2023 |
Ikaeniyan0:Show me proofs of the positive results please? The price of a bag of cement is still 6500 naira today. 1 Like |
Re: CBN Begins To Clear FOREX Backlog by Ikaeniyan0: 6:42pm On Nov 02, 2023 |
Calitoscassius:This thread is not about the price of cement 6 Likes 1 Share |
Re: CBN Begins To Clear FOREX Backlog by Calitoscassius(m): 6:42pm On Nov 02, 2023 |
Hakeem66:Don't panic man! December it will hit 2500 naira if not more. 4 Likes |
Re: CBN Begins To Clear FOREX Backlog by lionshare: 6:43pm On Nov 02, 2023 |
LordAdam16: You claimed CBN leaked the news to the press yet the both BAT & Wale Edun mentioned it during the NESG event recently. How is that still a leak? How do you know for certain that the anticipated funds are yet to come in? Please provide proof otherwise you are only assuming! Why are you implying your personal assumptions to be fact?? 1 Like |
Re: CBN Begins To Clear FOREX Backlog by Gggjhhj: 6:44pm On Nov 02, 2023 |
Hakeem66:Q Country fit good forever, lol |
Re: CBN Begins To Clear FOREX Backlog by Braveryy(m): 6:44pm On Nov 02, 2023 |
It's obvious.
|
Re: CBN Begins To Clear FOREX Backlog by Hakeem66: 6:44pm On Nov 02, 2023 |
Calitoscassius:yes for sure. |
Re: CBN Begins To Clear FOREX Backlog by Teepresh2: 6:44pm On Nov 02, 2023 |
Naira Keep Appreciating: Dollar Rate Today , November 2, 2023 https:///naira-keep-appreciating-dollar-rate-today-november-2-2023/ |
Re: CBN Begins To Clear FOREX Backlog by ivolt: 6:44pm On Nov 02, 2023 |
SocialJustice:The only news that matters is whether the government has started earning more dollars. Since the answer is no, then the "hoarders" only need to wait. 3 Likes |
Re: CBN Begins To Clear FOREX Backlog by Calitoscassius(m): 6:48pm On Nov 02, 2023 |
Ikaeniyan0:You always argue against yourself you claimed you are seen the positive result of the naira appreciations i ask you for proofs, gave you an example with the price of cement. You carefully avoided providing proofs and then tries to divert the to the same line, "this thread is not about the price of cement" Fine, show me the proofs of the positive outcome that you claim to have seen. forget cement price, high food and commodities prices 2 Likes |
Re: CBN Begins To Clear FOREX Backlog by skultrick(m): 6:52pm On Nov 02, 2023 |
Yourprick: What app is this? 2 Likes |
Re: CBN Begins To Clear FOREX Backlog by AngelicBeing: 6:53pm On Nov 02, 2023 |
LordAdam16:Gbamsulotely, end of thread, Succinctly put and spot on |
Re: CBN Begins To Clear FOREX Backlog by Calitoscassius(m): 6:53pm On Nov 02, 2023 |
ivolt:Country that rellies on the value of dollar has no hope. As you have rightly asserted, all they have to do is wait till the inevitable happens. 3 Likes |
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