A Dollar To Naira Now N1075.75 - Politics

A Dollar To Naira Now N1075.75 - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › A Dollar To Naira Now N1075.75 (18165 Views)

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A Dollar To Naira Now N1075.75 by Biodun556(op): 12:37pm On Mar 26, 2024*

Steadily

2 Likes 2 Shares

Re: A Dollar To Naira Now N1075.75 by DaniellaDokubo(f): 12:41pm On Mar 26, 2024

Government is selling off its FX reserves. This is not a sustainable solution. Way to go. EXPORT goods and service!

10 Likes 3 Shares

Re: A Dollar To Naira Now N1075.75 by Biodun556(op): 12:45pm On Mar 26, 2024

DaniellaDokubo:
Government is selling off its FX reserves. This is not a sustainable solution. Way to go. EXPORT goods and service!

It is the way to go. Central bank is the primary supplier of FOREX worldwide.

As long as bureau de change and banks comply with CBN price , the government will get value for the dollars they are selling

Unlike before when official price was 400 and parallel market was 900 which invariably gave all the government earnings to private individuals

21 Likes 2 Shares

Re: A Dollar To Naira Now N1075.75 by helinues: 12:46pm On Mar 26, 2024

Slow and steady

26 Likes

Re: A Dollar To Naira Now N1075.75 by Babalegba(m): 12:48pm On Mar 26, 2024

DaniellaDokubo:
Government is selling off its FX reserves. This is not a sustainable solution. Way to go. EXPORT goods and service!

Export goods and services with diesel abi.

2 Likes

Re: A Dollar To Naira Now N1075.75 by seunowa(f): 12:50pm On Mar 26, 2024

Biodun556:
It is the way to go. Central bank is the primary supplier of FOREX worldwide.

As long as bureau de change and banks comply with CBN price , the government will get value for the dollars they are selling

Unlike before when official price was 400 and parallel market was 900 which invariably gave all the government earnings to private individuals

Blessings to u in all your doings..
With these policies framework in motion.
The nation foreign reserve is augmenting which in short time usher the nation to economy prosperity...

9 Likes 2 Shares

Re: A Dollar To Naira Now N1075.75 by Putindbutt(m): 12:51pm On Mar 26, 2024

DaniellaDokubo:
Government is selling off its FX reserves. This is not a sustainable solution. Way to go. EXPORT goods and service!

Who is this illiterate?, what do you mean by "selling off"?. Government is even earning more as we speak through market liquidity.

12 Likes 1 Share

Re: A Dollar To Naira Now N1075.75 by mrvitalis(m): 12:54pm On Mar 26, 2024

Biodun556:
It is the way to go. Central bank is the primary supplier of FOREX worldwide.

As long as bureau de change and banks comply with CBN price , the government will get value for the dollars they are selling

Unlike before when official price was 400 and parallel market was 900 which invariably gave all the government earnings to private individuals

The only issue is you don't have the reserve to back this up long term... Can't even last 1 month

3 Likes

Re: A Dollar To Naira Now N1075.75 by Biodun556(op): 12:55pm On Mar 26, 2024

mrvitalis:
The only issue is you don't have the reserve to back this up long term... Can't even last 1 month

The dollars sold by CBN is not from reserve it is from exports

12 Likes

Re: A Dollar To Naira Now N1075.75 by Thormentor: 12:58pm On Mar 26, 2024

Biodun556:
The dollars sold by CBN is not from reserve it is from exports

is it's sustainable?

or are we just going in circles as always

3 Likes

Re: A Dollar To Naira Now N1075.75 by Biodun556(op): 12:59pm On Mar 26, 2024

Thormentor:
is it's sustainable?

or are we just going in circles as always

2 Likes 2 Shares

Re: A Dollar To Naira Now N1075.75 by softtorce: 1:00pm On Mar 26, 2024

Wetin you Sabi with your fake transgendered monicker

DaniellaDokubo:
Government is selling off its FX reserves. This is not a sustainable solution. Way to go. EXPORT goods and service!

5 Likes 1 Share

Re: A Dollar To Naira Now N1075.75 by mrvitalis(m): 1:00pm On Mar 26, 2024

Biodun556:
The dollars sold by CBN is not from reserve it is from exports

Lol 😂😂😂 which school u go abeg?

3 Likes

Re: A Dollar To Naira Now N1075.75 by Thormentor: 1:02pm On Mar 26, 2024

[quote author=Biodun556 post=129116900][/quote]How do we fund our budgets?

still borrowing?

selling off crude oil in advance?

Re: A Dollar To Naira Now N1075.75 by Donaldoni: 1:02pm On Mar 26, 2024

DaniellaDokubo:
Government is selling off its FX reserves. This is not a sustainable solution. Way to go. EXPORT goods and service!

Rather our forex reserve is INCREASING

Get your facts right! angry

3 Likes

Re: A Dollar To Naira Now N1075.75 by DaniellaDokubo(f): 1:14pm On Mar 26, 2024

Donaldoni:
Rather our forex reserve is INCREASING

Get your facts right!

Keep quiet and go and look for work like your mates!

2 Likes

Re: A Dollar To Naira Now N1075.75 by DaniellaDokubo(f): 1:17pm On Mar 26, 2024

softtorce:
Wetin you Sabi with your fake transgendered monicker

Keep quiet and go and look for work like your mates!

1 Like

Re: A Dollar To Naira Now N1075.75 by DaniellaDokubo(f): 1:18pm On Mar 26, 2024

Putindbutt:
Who is this illiterate?, what do you mean by "selling off"?. Government is even earning more as we speak through market liquidity.

Keep quiet and go and look for work like your mates!

Re: A Dollar To Naira Now N1075.75 by DaniellaDokubo(f): 1:18pm On Mar 26, 2024

Babalegba:
Export goods and services with diesel abi.

Keep quiet and go and look for work like your mates!

Re: A Dollar To Naira Now N1075.75 by softtorce: 1:23pm On Mar 26, 2024

See me see wahala...lol

A NL resident jobless clown telling those to visit every now n then to go look for work.

Wonders shall never end.

DaniellaDokubo:
Keep quiet and go and look for work like your mates!

3 Likes

Re: A Dollar To Naira Now N1075.75 by codeworks(m): 1:25pm On Mar 26, 2024

How much is pounds in BDC

Re: A Dollar To Naira Now N1075.75 by Donaldoni: 1:26pm On Mar 26, 2024

DaniellaDokubo:
Keep quiet and go and look for work like your mates!

I am at work cool

2 Likes

Re: A Dollar To Naira Now N1075.75 by obinna58(m): 1:32pm On Mar 26, 2024

mrvitalis:
Lol 😂😂😂 which school u go abeg?

Correct am na if you think he’s not right, why showing stupidity

2 Likes

Re: A Dollar To Naira Now N1075.75 by Hoelujohn: 1:33pm On Mar 26, 2024

DaniellaDokubo:
Government is selling off its FX reserves. This is not a sustainable solution. Way to go. EXPORT goods and service!

And those mad people that earn the dollars through export will sell it to BDC or hoard it.

Re: A Dollar To Naira Now N1075.75 by Hoelujohn: 1:33pm On Mar 26, 2024

DaniellaDokubo:
Government is selling off its FX reserves. This is not a sustainable solution. Way to go. EXPORT goods and service!

And those mad people that earn the dollars through export will sell it to BDC or hoard it.

Re: A Dollar To Naira Now N1075.75 by senatordave1(m): 1:36pm On Mar 26, 2024

mrvitalis:
The only issue is you don't have the reserve to back this up long term... Can't even last 1 month

This has lasted two months sir

3 Likes

Re: A Dollar To Naira Now N1075.75 by Hoelujohn: 1:38pm On Mar 26, 2024

mrvitalis:
The only issue is you don't have the reserve to back this up long term... Can't even last 1 month

How many BDCs do we have? Approximately 1500. Multiply it by 10000 dollars per week. That means each BDC gets 40k per week. Multiply that by 12 months a year and by 1500 BDCs. The total is not up to 800k dollars a year. That is less than government weekly earnings on crude oil export.

5 Likes 1 Share

Re: A Dollar To Naira Now N1075.75 by mrvitalis(m): 1:46pm On Mar 26, 2024

Hoelujohn:
How many BDCs do we have? Approximately 1500. Multiply it by 10000 dollars per week. That means each BDC gets 40k per week. Multiply that by 12 months a year and by 1500 BDCs. The total is not up to 800k dollars a year. That is less than government weekly earnings on crude oil export.

So in your head that can meet of up the dollar demand?

What you would achieve is Buhari 101 massive difference between official rate and black market rate

Say I want to set up a small factory and need $500k to buy machines or raw materials... Where do you think I would go? ... U think I won't pay 10% above price to get my money in 1 week?

Re: A Dollar To Naira Now N1075.75 by mrvitalis(m): 1:46pm On Mar 26, 2024

senatordave1:
This has lasted two months sir

Lol 😂😂😂 which last two months

Re: A Dollar To Naira Now N1075.75 by senatordave1(m): 1:49pm On Mar 26, 2024

mrvitalis:
Lol 😂😂😂 which last two months

Why so hateful and negative? The dollars will still keep falling sir and obi will never rule

7 Likes

Re: A Dollar To Naira Now N1075.75 by rinzaugustine: 1:50pm On Mar 26, 2024

What kind of economic policy is selling the dollars you have to bolster exchange rate ? Why would a sane mind believe this will work long term and be dissuaded from hoarding the dollar? Once they stop all these FX selling, the next fall of the dollar will be around the 3 thousand naira mark …bunch of useless quacks

1 Like

Re: A Dollar To Naira Now N1075.75 by ngwaIgbo223: 1:52pm On Mar 26, 2024

I Love this.

3 Likes

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