₦airaland Forum

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 should have just held on to it.

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 😫

It has started increasing. I hope you have not sold. Please read this thread on front page. Just hold the dollars

https://www.nairaland.com/7905233/naira-shrinks-n1135-parallel-market

BluePrincee:
It has started increasing. I hope you have not sold. Please read this thread on front page. Just hold the dollars

https://www.nairaland.com/7905233/naira-shrinks-n1135-parallel-market

Thanks I have already sold it.

I don't regret anyway, at least for the past days I don't feel stressed about whether the dollar goes up or down

Dollar has started to peak again Lol. Today it is 1,150. I am waiting for it to hit the 1,200 mark, then i convert my Franc Cefa salary to naira and cash out well😍

Athena6:
Thanks I have already sold it.

I don't regret anyway, at least for the past days I don't feel stressed about whether the dollar goes up or down

Naira would eventually strengthen, so you did the right thing. It's only increasing back because CBN halted their backlog payments which they did on Thursday and Friday.

By the time the CBN receives the 7Bn dollars they are expecting (most likely before December), they would clear that backlog totally and allow regular inflows again.

leokid866:
OK 👍🏾.....

I told you that I will come back to quote you. It's not even up to a week, naira has fallen again

ejieddy:
Dollar can never increase.... It will keep going down. So better sell off now

How far?

GeneralDae:
Naira would eventually strengthen, so you did the right thing. It's only increasing back because CBN halted their backlog payments which they did on Thursday and Friday.

By the time the CBN receives the 7Bn dollars they are expecting (most likely before December), they would clear that backlog totally and allow regular inflows again.

so when the 7 billion finished they will start looking for again and the naira will fall. Na life b that?

bigiyaro:
so when the 7 billion finished they will start looking for again and the naira will fall. Na life b that?

The problem the CBN has now are forward contracts of crude oil that have been made over the years which prevented them from fulfilling their FOREX obligations since around 2020.

The foreign inflows by foreign Banks and investors in Nigeria have continued to decrease heavily since 2020 because of that and the exchange rate have moved from 360 naira in 2019 to 1130 naira in 2023.

If CBN and Federal Government can do all they can to allow those foreign inflows again and they solve the crude oil problem, then exchange rate would no longer be unstable. It wasn't this unstable from 1999 to 2020 compared to from 2021 to 2023. The reason is COVID and increased crude oil problems from that.

oliverwrites:
I don't do those APC vs PDP shiit with you guys. I am pro Nigeria. Whether good or bad, I will make money regardless, I am a very high intelligent person who has GOD on his side so regardless of what happens, I will ALWAYS HAVE MORE THAN ENOUGH ( mind the caps ).

It was just a YES or NO question.... All this one na long story

IamAsiri:
Exactly! I was surprised that people advised her to invest in dollars at this point. It surely would have made more sense around that August that she was initially advised. Buying at that time and selling when it peaked would have gotten her huge profits. But that's crying over spilt milk. If OP get mind sha she fit invest like 500k into local rice as I can't see it crashing during festive season; maybe after though.

@OP
There are those who are cashing out when they get very good rice to sell. Don't just buy from anyone if you are interested. And don't buy because it is "cheap".
Wouldn't mention who you shouldn't buy from but I can recommend who you can buy from if you are interested. There are also a host of businesses to invest in that are not as volatile as this Forex market. You can contact @maryam1234 if you want to test it out (even with a very small amount).

You are a very wise man

I invested #200k into aggressive supplies of local rice here in Edo state 2 months ago. By God's Grace I have accumulated nearly 20% in pure profit in just 2 months

There are lots of good businesses with low risk here In Nigeria especially in the agro commodity sector. If you are resilient and focused. You will succeed

Theophinio:
You are a very wise man

I invested #200k into aggressive supplies of local rice here in Edo state 2 months ago. By God's Grace I have accumulated nearly 20% in pure profit in just 2 months

There are lots of good businesses with low risk here In Nigeria especially in the agro commodity sector. If you are resilient and focused. You will succeed

I commend your Zeal Mr Theo
Continue to Soar higher

Maryam1234:
I commend your Zeal Mr Theo
Continue to Soar higher

Thanks my First Lady in the Agro World

Am following your footsteps

Do you have dollar for sale ?

Athena6:
Thanks I have already sold it.

I don't regret anyway, at least for the past days I don't feel stressed about whether the dollar goes up or down

Na wa for you.

Told you not to sell. Before jan ends, you could have recovered your losses and likely made a gain.

Now

£1: N1,400

GeneralDae:
Naira would eventually strengthen, so you did the right thing. It's only increasing back because CBN halted their backlog payments which they did on Thursday and Friday.

By the time the CBN receives the 7Bn dollars they are expecting (most likely before December), they would clear that backlog totally and allow regular inflows again.

What they're doing is just a temporary relief measure

Atk1nson:
Na wa for you.

Told you not to sell. Before jan ends, you could have recovered your losses and likely made a gain.

Now

£1: N1,400

she never ready to invest ,all this one's no fit survive one week for forex/stock market/crypto


that's why people should not enter what td
hey have no knowledge of

GeneralDae:
The problem the CBN has now are forward contracts of crude oil that have been made over the years which prevented them from fulfilling their FOREX obligations since around 2020.

The foreign inflows by foreign Banks and investors in Nigeria have continued to decrease heavily since 2020 because of that and the exchange rate have moved from 360 naira in 2019 to 1130 naira in 2023.

If CBN and Federal Government can do all they can to allow those foreign inflows again and they solve the crude oil problem, then exchange rate would no longer be unstable. It wasn't this unstable from 1999 to 2020 compared to from 2021 to 2023. The reason is COVID and increased crude oil problems from that.

Nawao...
But it is not only our country that faced this convid na...

Why is it dealing with Nigeria the most?

Athena6:
Thanks I have already sold it.

I don't regret anyway, at least for the past days I don't feel stressed about whether the dollar goes up or down

I clearly understand, especially when the money is not disposable. My advise is to always save in $ or just buy gold to keep because a lot of people do not understand that keeping your savings in $ now in Naija is not an investment but only helping you to preserve the value. 1 million naira of last year is not 1 million naira of today. Its just a pity for the average Nigerian as a bag of rice is steadily creeping towards 100k.

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 😫

Welcome to the world of FOREX where nothing is certain

Ballzproblem2:
she never ready to invest ,all this one's no fit survive one week for forex/stock market/crypto


that's why people should not enter what td
hey have no knowledge of

January has not ended yet, it is already 1:1600.

Easy money, she only needed some patience

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 😫

I remember telling you not to sell your crypto yet. See the current price of Naira as of today

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 😢😢😢

How far bros...

Yẹn yẹn yẹn...

Now you can see that your friend didn't mislead you....

What most of you needed was patience. I even posted a link to another thread to show that this would happen. Now, you lost 3mil for nothing.

Naira now $/₦1400.

Bwhahahahaahhahaha

SPAMBOX7:
Lol I have lost more than 500k and still counting but I ain't moved. I ain't withdrawing shit.

I just dey laff people wey still believe in naira thriving over dollar. Yall will keep fooling yourselves till it's too late. For as long as tifnubu is here to stay dollar will hit 3k before 2025.

Come back in 2025 and read this again and say I told you.

Drops pen*

How far SPAMBOX7? Wise choice, still holding to your conviction?

I begged the Op not to sell and most especially, keep her moniker active, but lass seen was December 8 as at the time of this writing.

Even the link I referred her to, the person who posted then even deactivated.

Shame no go catch us.

What have you learnt so far my people

Athena6

twosquare:
@Athena6 If you are real! You are like this person on the thread below. Keep your moniker active and we will come back to this


https://www.nairaland.com/7426846/crypto-not-just-me-massive

It is meant to shake off weak hands...

Wait till March next year when there will likely be a bull run in the financial markets, and you will see the demand for dollars out of FOMO.

If the person in the thread above had waited instead of crying like you now...he will be in massive profits if he sold around 1300...the next level is 1500 after this correction

Oga Mr fundamental and variables, how far now.

Bros, I dey hail una ó...

Swiftgrp:
From that NL web link of 2022... The economic variables and fundamentals of November 2022 and above from November 2023 are different.

Majorly those refineries are about to commence near-capacity fuel production from Dangote at the end of November 2023 and the other in refinery in PH from the first quarter of 2024. This would lower the demand for fuel imports while boosting USD reserves to the tune of $10 billion per annum. The CBN would also readily get FX from the refineries' fuel export operations.

Whatever "next level" that may occur on those P2P price charts would be one fueled by greed and fear. In any event, a lot of folks who are not experienced in legit arbitraging will lose their hard-earned money in USD due to poorly thought out speculations.

You have to know when to EXIT any asset by gathering functional knowledge through self-research and/or paid research.

twosquare:
How far SPAMBOX7? Wise choice, still holding to your conviction?

Ask yourself what the government has been doing to curb the massive rise of dollar then you will have your answer. Keyword what they have been doing not what they have been saying
Cos we Don dey hear talk since 2015

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 😫

hope you've been reading the news. I remember how you threw away money cos you were listening to 'hopists' rather than listening to realists who were giving you sound advice based on data. I bought almost 2k dollars around the time you bought yours and I'm still holding.....

Tonymegabush1:
Please if you starch USD dispose it now let naira gain some more..

I forsee #500 to a USD transact.
Pounds rate should go down too.

e done clear now?

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 😫

hope u never change ur dollars? U are a very rich man