₦airaland Forum

Love800:
Wat is the difference?
I mean wat does the investing mean? The one she is doing now, is what?

you don't understand what i am saying.

Athena6:
Last week I created a thread talking about how my japa plans have been crushed due to the increase in dollar.

Many adviced me to invest in dollar, this was the advice they gave me months ago but I did follow through because I wasn't sure.
My last thread hit front page and 90% of the comments were advising me to invest in dollars, one even quoted that in the past 10 years, the dollar haven't fallen but it increases every year.

One even called me a weak minded person and I am scared to take risks.
After everything I thought to myself, since so many people felt this dollar will keep on rising, maybe I should invest afterall life is all about risks.

Well guess what, dollar have decreased, I invested 3M in buying dollars and now in today exchange rate. I have 2.6M now and I either cash out now or hope it will increase.

Right now, I am very angry.
Those giving me advice should come and contribute the 400k for me o

Another thing, do you think the dollar will increase or should I just cut my loses.
I am so tired 😫

NAIJA-COVER Is Here

My Gee, Hold on your dollar
if there is extra naira buy more dollar, cuz nothing haven been putting in place.
dollar will finds its way back to 1,500 within 3months

Athena6:
Thanks for the input but I sold it yesterday, I don't want to be feeling stressed out wondering whether it will go up or down.
Honestly I take risks but I promise myself that, that money will be use for something tangible in my life and wasting it on risky investments is something I will really feel bad about.

Thanks tho and wish you luck on your dollars

Chai! You have make greatest mistake by selling off your $$, nothing have been putting place dollar heading back to 1,500 and by 2027 it will be 2,500 to 3,000

3ice9ce:
The fact that you even got in late into converting into USD shows you don't know anything about forex.

As things stand, the Dollar is overvalued. The real value is 800 and below. So, the government is prepared to intervene to keep it at that level. How? Step 1 is what you saw this week.
By December, Dangote will start producing and then, remittances will also come in.
So, the issue of going back up next week doesn't arise.

Dey play. . . Dangote won't even buy crude from naija talkmore of remitting dollar to naija.
Note this: the dangote you know will hire foreigners to work for him and he will pay them in dollars. By that time dangote will be needing more dollar than you.
Believe it or leave it. Dollar to N2,000 by 2025

GeneralDae:
The huge difference is what I explained in my first post to you (the one before this one you quoted). I would repost it here.

"Exchange rate strength does not necessarily mean cheaper products. What it means is that:

1) Cost of importation is reduced (so extra dollars saved)

2) The dollars we pay to Dangote to get PMS would likely still circulate within Nigeria.

3) The exports Dangote makes in dollars would stay majorly in Nigeria because Dangote also needs naira for a lot of things. So he would take a huge chunk of his dollars to Nigerian Banks to get Naira equivalent.

All of these strengthens the Naira".

I see the difference but I don't see the "huge". We are talking of one private company vs. the currency of a whole big nation. Dangote is the richest man in Africa and all his businesses are in Nigeria yet it's not like if he sneezes our currency will catch cold!

PoliteActivist:
I see the difference but I don't see the "huge". We are talking of one private company vs. the currency of a whole big nation. Dangote is the richest man in Africa and all his businesses are in Nigeria yet it's not like if he sneezes our currency will catch cold!

This one is different because PMS is still our biggest import and affects the naira more than cement or anything else.

The only stuff that comes close to PMS imports are Laptops and Phones.

These are the big movers and shakers that can affect the naira when they sneeze.

GeneralDae:
This one is different because PMS is still our biggest import and affects the naira more than cement or anything else by far.

It is different but not "huge". If it were owned by FG that'll be HUGE - we won't be paying ANYBODY to buy back our oil as refined product!

GeneralDae:
This one is different because PMS is still our biggest import and affects the naira more than cement or anything else.

The only stuff that comes close to PMS imports are Laptops and Phones.

These are the big movers and shakers that can affect the naira when they sneeze.

That guy does not know what he's saying.

Imagine if we stop spending about $15 billion dollars we spend on importing refined crude every year. It will surely have a positive effect on the naira.

PoliteActivist:
It is different but not "huge". If it were owned by FG that'll be HUGE - we won't be paying ANYBODY to buy back our oil as refined product!

You are right as it pertains to Govt revenue. Yes it won't make significant difference. But speaking of how it affects the naira, it would make a difference because 80% of Dangote's conglomerate is still in Nigeria.

So when Dangote receives Dollars, he would have to sell a huge chunk of it to get naira as well to maintain his other investments in Nigeria.
Right now we are just importing PMS from Hamburg and Belgium and giving them dollars and receiving no inflow from them in return.

This time, we are paying Dangote dollars and Dangote would put back some of those dollars into the financial market in Nigeria when he needs naira. On the contrary, Hamburg refineries we currently sell to, would hardly have any need to buy naira.

GeneralDae:
You are right as it pertains to Govt revenue. Yes it won't make significant difference. But speaking of how it affects the naira, it would make a difference because 80% of Dangote's conglomerate is still in Nigeria.

So when Dangote receives Dollars, he would have to sell a huge chunk of it to get naira as well to maintain his other investments in Nigeria.
Right now we are just importing PMS from Hamburg and Belgium and giving them dollars and receiving no inflow from them in return.

This time, we are paying Dangote dollars and Dangote would put back some of those dollars into the financial market in Nigeria when he needs naira. On the contrary, Hamburg refineries we currently sell to, would hardly have any need to buy naira.

Well, that 80% of Dangote is in Nigeria hasn't helped the naira. Of course it will be different with oil but not "huge"

falcon01:
how far? Its above 1k again

Go hoard am na ... na here we go dey

Tohmey:
Chai! You have make greatest mistake by selling off your $$, nothing have been putting place dollar heading back to 1,500 and by 2027 it will be 2,500 to 3,000

why you like this. because of your selfish reasons you speculating rubbish

kellybently:
why you like this. because of your selfish reasons you speculating rubbish

Man, nothing like speculating here
Our politician are not helping matters, naira supply in naija is terrible without any backup

Wait till after Christmas around 29-4 January.

Trust me.

It's going to pickup from 900 or 850 to 1400 before stabilizing at 1200 till June when it drops to 600

Tohmey:
Chai! You have make greatest mistake by selling off your $$, nothing have been putting place dollar heading back to 1,500 and by 2027 it will be 2,500 to 3,000

So she should lock up funds till 2027? The way some of you reason sha

Athena6:
Last week I created a thread talking about how my japa plans have been crushed due to the increase in dollar.

Many adviced me to invest in dollar, this was the advice they gave me months ago but I did follow through because I wasn't sure.
My last thread hit front page and 90% of the comments were advising me to invest in dollars, one even quoted that in the past 10 years, the dollar haven't fallen but it increases every year.

One even called me a weak minded person and I am scared to take risks.
After everything I thought to myself, since so many people felt this dollar will keep on rising, maybe I should invest afterall life is all about risks.

Well guess what, dollar have decreased, I invested 3M in buying dollars and now in today exchange rate. I have 2.6M now and I either cash out now or hope it will increase.

Right now, I am very angry.
Those giving me advice should come and contribute the 400k for me o

Another thing, do you think the dollar will increase or should I just cut my loses.
I am so tired 😫

You better sell it now I lost over 3 million Naira the money I wanted to use and japa e pain me down to the bone but waytin man wan do my friend mislead me 😢😢😢

By January, dollar will crash massively... because of dangote refinery...

It means Nigeria won't be sourcing $15 billion dollars to import fuel.

Fuel is the most consumed imported product that takes large chunk of dollars out of the system.

Once that stop, there will be a massive fall of dollars, some experts are even predicting #550/$1

Justrite007:
You better sell it now I lost over 3 million Naira the money I wanted to use and japa e pain me down to the bone but waytin man wan do my friend mislead me 😢😢😢

Chai!! You could have lose more than this sef. So no too think am boss.

Kachidubem:
By January, dollar will crash massively... because of dangote refinery...

It means Nigeria won't be sourcing $15 billion dollars to import fuel.

Fuel is the most consumed imported product that takes large chunk of dollars out of the system.

Once that stop, there will be a massive fall of dollars, some experts are even predicting #550/$1

It's really important for the refineries to start working, its going to relieve pressure on the naira.

Ikaeniyan0:
Chai!! You could have lose more than this sef. So no too think am boss.

Thanks boss that’s why is not good to follow ppl advise

Ikaeniyan0:
It's really important for the refineries to start working, its going to relieve pressure on the naira.

Exactly.

Trojan8:
So she should lock up funds till 2027? The way some of you reason sha

Lols. . .
Fund way he go carry go invest in Eurobond and earn 7-10% return per annum. Then sell of anytime it rises

Love800:
Wat is the difference?
I mean wat does the investing mean? The one she is doing now, is what?

Invest the dollar in Eurobond nah
and earn 7-12% per annum.
Lets say you invest $5,000 in eurobond at the rate of 10% in one year you will earn $500,
You can as well sell it off anytime you like, cause its not a fixed deposit.

3ice9ce:
As I said, you talk too much with nothing to show. Hold the dollar and see what happens.

/
US10Y went down to 4.55% so naira appreciated to N950/$
Today US10Y went back up to 4.65% at NY close and naira back down to N1050/$.

Keep arguing with your keyboard while others smile to the bank

/

Athena6:
Last week I created a thread talking about how my japa plans have been crushed due to the increase in dollar.

Many adviced me to invest in dollar, this was the advice they gave me months ago but I did follow through because I wasn't sure.
My last thread hit front page and 90% of the comments were advising me to invest in dollars, one even quoted that in the past 10 years, the dollar haven't fallen but it increases every year.

One even called me a weak minded person and I am scared to take risks.
After everything I thought to myself, since so many people felt this dollar will keep on rising, maybe I should invest afterall life is all about risks.

Well guess what, dollar have decreased, I invested 3M in buying dollars and now in today exchange rate. I have 2.6M now and I either cash out now or hope it will increase.

Right now, I am very angry.
Those giving me advice should come and contribute the 400k for me o

Another thing, do you think the dollar will increase or should I just cut my loses.
I am so tired 😫

Dollar is now heading back to 1200, you shouldn't have listened to the people telling you to sell. If you held till December you'd be much better off

Wujio:
Smh. I recall stating clearly on the orevious threwd not to biy dollar at all at the current rate that it was too late. Do people ever listen at all?


What advice is that. Did i not clearly say dollar to naira value is in uncertain levels and not to attemot buying it. Many of us kept shouting dont buy dollars anymore una no dey here.


Keep your money in your bank account and thats your best investment for now

You've given her rubbish advice, boasting up and down that Dollar will never get to 1000 again. Just a few mere days later and it's already heading to 1100, SMH!

Ceasarceasar:
You better sell...

A frd of mine lost a million now..

I lost about 70k...

Wish I never sold

Ceasarceasar:
Wish I never sold

Have a mind of your own!!!!

it is already 1100 selling this morning

It's suicidal seeking investment advice from nairalanders, some are students, unemployed, fraudstars,bet,lotto and pool addicts.what advice do u think u can get from them concerning how the currency rates works and what influences it.

nawaforyouo:


Have a mind of your own!!!!

it is already 1100 selling this morning

Naija na very yeye country