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Why Naira(ngn) Is Appreciating - Business - Nairaland

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Why Naira Depreciated By 23% In 4 Days — Currency Dealers, Analysts / Why Naira Will Continue To Appreciate / The End Of Naira, NGN, On Binance (2) (3) (4)

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Why Naira(ngn) Is Appreciating by Birdbyrde440: 3:09pm On Apr 01
The answer is simple, the FG through the CBN is stifling competition and free market activities in the FX market.
First, they refused to clear all fx backlogs, only 'verified ' ones.

Second they made it impossible for bureau de change to serve the needs of large fx demands, mandating all fx needs to be acquired through banks with a $500 cap.

Third they banned binance(as Buhari banned Twitter), tricked and arrested binance executives thereby shutting down the online fx marketplace.

Soon they will start price fixing when inflation goes out of control. When the fx issue goes out of control again the next move will be to ban imports.

Banning banning banning!

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Re: Why Naira(ngn) Is Appreciating by Birdbyrde440: 3:13pm On Apr 01
Birdbyrde440:
The answer is simple, the FG through the CBN is stifling competition and free market activities in the FX market.
First, they refused to clear all fx backlogs, only 'verified ' ones.

Second they made it impossible for bureau de change to serve the needs of large fx demands, mandating all fx needs to be acquired through banks with a $500 cap.

Third they banned binance(as Buhari banned Twitter), tricked and arrested binance executives thereby shutting down the online fx marketplace.

Soon they will start price fixing when inflation goes out of control. When the fx issue goes out of control again the next move will be to ban imports.

Banning banning banning!

Speculation is a free market activity
Re: Why Naira(ngn) Is Appreciating by helinues: 3:15pm On Apr 01
Naira loss to dollar, una dey shout

Naira regaining strength, una still dey teeth gnashing.

What caused the dollar high rate if not scarcity. So if those who are hoarding the dollars ( BDC, Binance, Terrorists sponsor) have now been exposed, logically there supposed to be more dollars in circulation which will make the rate to fall.

We don't need to ask the naysayers what they want, they are in their minority, they only have a say not their way

9 Likes

Re: Why Naira(ngn) Is Appreciating by Iamanoited: 3:23pm On Apr 01
TINUBU PLEASE TAG NAIRA AT N200:$1
AND LET ALL FOREX EXCHANGES IN NIGERIA PASS THROUGH CBN AND MDBS.
BDCS MUST BUY AND SELL DOLLARS TO TRAVELLERS BELLOW N200:$1.

Orisa37

1 Like

Re: Why Naira(ngn) Is Appreciating by shortgun(m): 3:34pm On Apr 01
Naira is not gaining against the dollar until it returns back to N216 where APC met it.
2017 GLE that used to be 12million is now 39 million

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Re: Why Naira(ngn) Is Appreciating by SoNature(m): 3:37pm On Apr 01
Naira is not appreciating. The CBN is selling USD to BDC operators at #1200 per dollar.

Any day the operators start selling USD less than that amount, you know it's truly appreciating. For now, they are just hedging the local currency.

1 Like

Re: Why Naira(ngn) Is Appreciating by yommen: 3:43pm On Apr 01
helinues:
Naira loss to dollar, una dey shout

Naira regaining strength, una still dey teeth gnashing.

What caused the dollar high rate if not scarcity. So if those who are hoarding the dollars ( BDC, Binance, Terrorists sponsor) have now been exposed, logically there supposed to be more dollars in circulation which will make the rate to fall.

We don't need to ask the naysayers what they want, they are in their minority, [b]they only have a say not their wa[/b]y

They don't even have a say but the hate. So they have wail. Hayy
Re: Why Naira(ngn) Is Appreciating by Wallade(m): 4:05pm On Apr 01
Birdbyrde440:
The answer is simple, the FG through the CBN is stifling competition and free market activities in the FX market.
First, they refused to clear all fx backlogs, only 'verified ' ones.

Second they made it impossible for bureau de change to serve the needs of large fx demands, mandating all fx needs to be acquired through banks with a $500 cap.

Third they banned binance(as Buhari banned Twitter), tricked and arrested binance executives thereby shutting down the online fx marketplace.

Soon they will start price fixing when inflation goes out of control. When the fx issue goes out of control again the next move will be to ban imports.

Banning banning banning!

It seems you are one of those forex speculators? Your lamentations are epic.

What do you mean by government is stifling competition and free market activities?

Should CBN clear FX backlogs that are questionable and fraudulently packaged?

Should BDCs serve the needs of large FX demand customers in the first place? Such demands should be routed through the commercial banks in the first place.

Your fellow speculators have been using the Binance platform to manipulate the rate of exchange of dollars to naira.

You are a sore looser, better go and sell your remaining stock of dollars to limit your losses.

4 Likes

Re: Why Naira(ngn) Is Appreciating by Birdbyrde440: 4:58pm On Apr 01
Wallade:


It seems you are one of those forex speculators? Your lamentations are epic.

What do you mean by government is stifling competition and free market activities?

Should CBN clear FX backlogs that are questionable and fraudulently packaged?

Should BDCs serve the needs of large FX demand customers in the first place? Such demands should be routed through the commercial banks in the first place.

Your fellow speculators have been using the Binance platform to manipulate the rate of exchange of dollars to naira.

You are a sore looser, better go and sell your remaining stock of dollars to limit your losses.

I bought more dollars today. I'm riding the wave all the way down

1 Like

Re: Why Naira(ngn) Is Appreciating by talk2hb1(m): 5:01pm On Apr 01
Awọn Èèyàn Ẹni Ibi, evil people all they want is dollars to keep going up.

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Re: Why Naira(ngn) Is Appreciating by Wallade(m): 5:03pm On Apr 01
Birdbyrde440:


I bought more dollars today. I'm riding the wave all the way down

Keep it up 😄

2 Likes

Re: Why Naira(ngn) Is Appreciating by Tjra: 5:05pm On Apr 01
Enemies of Nigeria will continue to be in pains. The pains of stocking up dollars only for our precious Naira to appreciate massively dey pain them like mad.


No peace for the wicked.

1 Like

Re: Why Naira(ngn) Is Appreciating by BondRiv: 5:47pm On Apr 01
Unpatriotic lots will surely wail and get tired. Naira must rise.

1 Like

Re: Why Naira(ngn) Is Appreciating by BondRiv: 5:49pm On Apr 01
Birdbyrde440:


I bought more dollars today. I'm riding the wave all the way down

Then stop crying.
Re: Why Naira(ngn) Is Appreciating by Birdbyrde440: 5:53pm On Apr 01
BondRiv:


Then stop crying.

It's a candid observation.

1 Like

Re: Why Naira(ngn) Is Appreciating by Birdbyrde440: 5:54pm On Apr 01
Tjra:
Enemies of Nigeria will continue to be in pains. The pains of stocking up dollars only for our precious Naira to appreciate massively dey pain them like mad.


No peace for the wicked.

That's what you think.

1 Like

Re: Why Naira(ngn) Is Appreciating by Birdbyrde440: 5:54pm On Apr 01
BondRiv:
Unpatriotic lots will surely wail and get tired. Naira must rise.

Then we can buy dollars on the cheap.

2 Likes

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