This is why the Naira is gaining



The CBN is selling at N1,251 so no trader locks in large transactions above N1,251



In essence, the Naira has floated but the CBN is intervening to strengthen the Naira by selling its FX reserves to BDCs are a price below the willing buyer/ willing seller price



Implementations? The Naira will gain value but FX reserves are paying for it



This is a band aid, the CBN is attempting to fix a problem it can’t fix without a high war chest of FX reserves



The long-term fix is to export..



The CBN is subsidizing $ flow to the BDCs



Who are these BDCs? Who owns them? What is their contribution to GDP or job creation?



I would prefer the CBN subsidize exporters



If you export and remit back to CBN you buy your dollars at $1:N1251

The surest way is massive production especially in areas with comparative advantage..
And cutting down on exchange rate manipulation...

Take it easy bro. It is all about demand and supply equilibrium point. The price for point has to be discovered by varying price over a wide range and then noting where demand seem equal to supply. Anything below that price is what constitute defending of naira or fixing of the naira. Above it is roundtripping.

MONEY247:
This is why the Naira is gaining



The CBN is selling at N1,251 so no trader locks in large transactions above N1,251



In essence, the Naira has floated but the CBN is intervening to strengthen the Naira by selling its FX reserves to BDCs are a price below the willing buyer/ willing seller price



Implementations? The Naira will gain value but FX reserves are paying for it



This is a band aid, the CBN is attempting to fix a problem it can’t fix without a high war chest of FX reserves



The long-term fix is to export..



The CBN is subsidizing $ flow to the BDCs



Who are these BDCs? Who owns them? What is their contribution to GDP or job creation?



I would prefer the CBN subsidize exporters



If you export and remit back to CBN you buy your dollars at $1:N1251

The surest way is massive production especially in areas with comparative advantage..
And cutting down on exchange rate manipulation...

I'm now getting annoyed with trainee economists like you blabbing on about export. Just how do you export when you produce with diesel unless you are exporting high end goods with a fat profit margin.
The naira is currently severely undervalued and the government is trying to help it find it's real value while the saboteurs who are plenty are trying to scuttle things.
Tinubu and the Cbn can only work with what they've got. I don't even know why Tinubu cares because nigerians are very bad people anyway.
When he removed subsidy, they complained, when he put in subsidy again to mitigate after naira lost value,they complained again that he has not removed subsidy.

CodeTemplar:
Take it easy bro. It is all about demand and supply equilibrium point. The price for point has to be discovered by varying price over a wide range and then noting where demand seem equal to supply. Anything below that price is what constitute defending of naira or fixing of the naira. Above it is roundtripping.

So it's no longer about consumption and production bah?

Una go just dey change narratives anyhow

Nobody is fooled by their mumu policy, that’s why they are pleading with people to release their dollars but why would they when they are sure of tripling their investment before year end without sweat. Many people are waiting on it to fall to $1,200 then buy up the dollars and either keep in house or open dom account in Ghana

helinues:


So it's no longer about consumption and production bah?

Una go just dey change narratives anyhow

the demand and supply of dollar is still built around consumption and production. Spmeone wants hair extension and goes to buy forex so they import it. Another person needs to scale up his farm and applies for forex to buy tractor or sheets, that's production.
These things are too complex for numbskulls.

Babalegba:
I'm now getting annoyed with trainee economists like you blabbing on about export. Just how do you export when you produce with diesel unless you are exporting high end goods with a fat profit margin.
The naira is currently severely undervalued and the government is trying to help it find it's real value while the saboteurs who are plenty are trying to scuttle things.
Tinubu and the Cbn can only work with what they've got. I don't even know why Tinubu cares because nigerians are very bad people anyway.
When he removed subsidy, they complained, when he put in subsidy again to mitigate after naira lost value,they complained again that he has not removed subsidy.

Who undervalued the Naira.....the same people defending it aahhh...
This government is not ready to take responsibility for growth....

What gives your currency value?
Is it not it's purchasing power....?

When you need a trailer load of Naira to buy a pack of bread how do you call that undervalued....

We do international trade, and we need to produce to get the foreign currency...or borrow to augment....

Produce, produce, whichever way you can do it...
Wether it's with diesel, and export to foreigners, the people exporting to us don't have two heads.

Let's start production, we have comparative advantage already... massive arable land....

How can we be importing wheat..... with all this land....
We have citizens in diaspora, they would still need Local food stuff, but even our export is not meeting Thier demand....

Produce and export
... nothing more...

MONEY247:

Who undervalued the Naira.....the same people defending it aahhh...
This government is not ready to take responsibility for growth....

What gives your currency value?
Is it not it's purchasing power....?

When you need a trailer load of Naira to buy a pack of bread how do you call that undervalued....

We do international trade, and we need to produce to get the foreign currency...or borrow to augment....

Produce, produce, whichever way you can do it...
Wether it's with diesel, and export to foreigners, the people exporting to us don't have two heads.

Let's start production, we have comparative advantage already... massive arable land....

How can we be importing wheat..... with all this land....
We have citizens in diaspora, they would still need Local food stuff, but even our export is not meeting Thier demand....

Produce and export
... nothing more...

You cannot be a producing nation overnight. The people exporting to us have a functioning power grid ,more patriotic and more intelligent citizens and less thievery.Producing with diesel makes your products uncompetitive .
You cannot run before you can walk.

Babalegba:
I'm now getting annoyed with trainee economists like you blabbing on about export. Just how do you export when you produce with diesel unless you are exporting high end goods with a fat profit margin.
The naira is currently severely undervalued and the government is trying to help it find it's real value while the saboteurs who are plenty are trying to scuttle things.
Tinubu and the Cbn can only work with what they've got. I don't even know why Tinubu cares because nigerians are very bad people anyway.
When he removed subsidy, they complained, when he put in subsidy again to mitigate after naira lost value,they complained again that he has not removed subsidy.

He has not brought back subsidy the way it was before.This one is temporary and it is done by all nations of the world when there is an abnormal hike that affects the citizenry.
The temporary subsidy will be off very soon.

You're idolizing Tinubu and you want others to follow your baseless idolatry. Tinubu is underperforming more than the incompetent Bubu

Babalegba:
I'm now getting annoyed with trainee economists like you blabbing on about export. Just how do you export when you produce with diesel unless you are exporting high end goods with a fat profit margin.
The naira is currently severely undervalued and the government is trying to help it find it's real value while the saboteurs who are plenty are trying to scuttle things.
Tinubu and the Cbn can only work with what they've got. I don't even know why Tinubu cares because nigerians are very bad people anyway.
When he removed subsidy, they complained, when he put in subsidy again to mitigate after naira lost value,they complained again that he has not removed subsidy.

Subsidy has returned to forex and petroleum products through the back door but you're trying to hoodwink people

Ofemannnu:


He has not brought back subsidy the way it was before.This one is temporary and it is done by all nations of the world when there is an abnormal hike that affects the citizenry.
The temporary subsidy will be off very soon.

MONEY247:
This is why the Naira is gaining



The CBN is selling at N1,251 so no trader locks in large transactions above N1,251



In essence, the Naira has floated but the CBN is intervening to strengthen the Naira by selling its FX reserves to BDCs are a price below the willing buyer/ willing seller price



Implementations? The Naira will gain value but FX reserves are paying for it



This is a band aid, the CBN is attempting to fix a problem it can’t fix without a high war chest of FX reserves



The long-term fix is to export..



The CBN is subsidizing $ flow to the BDCs



Who are these BDCs? Who owns them? What is their contribution to GDP or job creation?



I would prefer the CBN subsidize exporters



If you export and remit back to CBN you buy your dollars at $1:N1251

The surest way is massive production especially in areas with comparative advantage..
And cutting down on exchange rate manipulation...

You just go Twitter go do copy and paste

Hoelujohn:

You just go Twitter go do copy and paste

🙄🙄🙄

What are we supposed to do?

helinues:


So it's no longer about consumption and production bah?

Una go just dey change narratives anyhow

I am surprised at this your comment

Piigggs have started grunting senseless comments as usual

The CBN's policies have redirected or is redirecting all the dollars back to the banks.

BDC transactions over USD500 must go through the bank

Now, with our forex reserves increasing, CBN can sell dollars to those who really need it at the true rate per time.

MONEY247:

Who undervalued the Naira.....the same people defending it aahhh...
This government is not ready to take responsibility for growth....

What gives your currency value?
Is it not it's purchasing power....?

When you need a trailer load of Naira to buy a pack of bread how do you call that undervalued....

We do international trade, and we need to produce to get the foreign currency...or borrow to augment....

Produce, produce, whichever way you can do it...
Wether it's with diesel, and export to foreigners, the people exporting to us don't have two heads.

Let's start production, we have comparative advantage already... massive arable land....

How can we be importing wheat..... with all this land....
We have citizens in diaspora, they would still need Local food stuff, but even our export is not meeting Thier demand....

Produce and export
... nothing more...

You made sense. Even if it's yam, banana and garri for export to Nigerians abroad. Produce!

ValarDoharis:
You're idolizing Tinubu and you want others to follow your baseless idolatry. Tinubu is underperforming more than the incompetent Bubu

Tinubu is saving the economy. Budget deficit is expected to fall below 4% this year from 5% before Tinubu came in.

Actual topic, thanx. Getting a handle on the current exchange rate is super important, especially if you're sending money overseas or planning a trip. It can really make a difference in your budget. If you're unsure about how this could affect your bank account or investments, reaching out to atlantic union bank customer service could be a big help. They can break it down for you and give you some tips on how to deal with exchange rates. Always good to know more about your money!

Very inept analysis

First, we have a trade surplus which means there’s more dollars coming in

Second, the CBN has done right by imposing a minimum capital requirement for BDCs to operate and also giving them guidelines so all FOREX transactions they do will have to be reported

The major cause of the slide is purchase of FOREX by speculators who have no need for the greenback but just buy and hoard for no reason and I bet they will all bite their fingers

To buy from a bank or BDC, you must have a genuine need

By the time the PHC Refinery begins to operate and meet our domestic need (which has been cut down after subsidy removal) and Dangote begins to export, the Naira may trade for as high as N400 to a dollar or even less

These are propaganda indices. Nigerians are suffering under Tinubu more than they suffer under Bubu and much more than they suffer under PDP. Tinubu is leading a rogue and incompetent govt

predictor1:
Tinubu is saving the economy. Budget deficit is expected to fall below 4% this year from 5% before Tinubu came in.

ValarDoharis:
Subsidy has returned to forex and petroleum products through the back door but you're trying to hoodwink people

I am not going to argue with you because most of you don't know much of the economy.

You cannot deny that subsidy has not returned to forex and petrol hence your deflection

Ofemannnu:
I am not going to argue with you because most of you don't know much of the economy.