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Nairaland Forum / Nairaland / General / Business / Naira Continues Appreciating Against Dollar, Sell At ₦1,100 (32564 Views)
Naira Continues Appreciation Against USD At Forex Market / Naira Continues Recovery, Strengthens To ₦950 / How CBN Deliberately Prevents Naira From Appreciating Against Dollar - Sahara R. (2) (3) (4)
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Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by nedu666: 5:56pm On Apr 08 |
dreamxhaser: That what I am trying to understand. How does bdc survive on 10k dollars a week |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by CodeTemplar: 5:58pm On Apr 08 |
I hope it is really appreciating and not being defended with fx reserve. |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by EnterpriseMan: 5:58pm On Apr 08 |
They're borrowing billions on dollars to pump into the fx to stabilize the naira and they think that is sustainable? Or is it just to save face😐 Get to the root of the issue and stop borrowing away the countries future to save face from public mockery. Borrowing dollars to pump into the fx to bring down the naira is like using paper tape to seal a huge leakage on a water tank. |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by advanceDNA: 6:06pm On Apr 08 |
EnterpriseMan:they dont have choice....because they have no brain or strategy to improve the economy... They thought removing the subsidy will just make the economy fix itself....awon wèrèy ...... As far as I am concerned .... they should keep l supporting the exchange rate. because they will embezzle the money anyways if they don't pay..... Where is the subsidy they removed on fuel?? |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by Tyche(m): 6:16pm On Apr 08 |
Time to start buying $. Not Financial advice abeg. My appetite for risk is huge and I can keep buying even if it goes to N700 |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by Image123(m): 6:23pm On Apr 08 |
EnterpriseMan: Lolz, quick question. How much do you wish a dollar to be to naira? Don't act confused now please. 2 Likes |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by CCIA: 6:34pm On Apr 08 |
GreatrAnalyst:When you borrow sense next, i may indulge you. mud for brains |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by JeffArmani234: 6:36pm On Apr 08 |
Jagabanbattle: Can we leave dollar alone and focus on what is killing us here!!! Despite the appreciation of naira in what way has it affected the prices of goods and commodities in Naija My tfair to work has doubled, where I used to buy a good meal for 1800 is now 2500 I know others too have a story or two to tell from their ends 1 Like |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by bluefilm: 6:44pm On Apr 08 |
Crap |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by garfield1: 7:00pm On Apr 08 |
IMAliyu: The depreciation was artificially induced too 2 Likes |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by Oluwademilade: 7:01pm On Apr 08 |
advanceDNA: Marketers who currently import refined fuel will no longer need to source for $ to import since they can buy from Dangote in naira. If you’re holding $ you better sell now 2 Likes |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by commoditiesnig: 7:09pm On Apr 08 |
Good one |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by advanceDNA: 7:18pm On Apr 08 |
Oluwademilade: That's if Dangote doesn't change it for you pple since he's importing the crude oil he's refining in dollars..... Marketers will still run u street..... They will buy from Dangote in naira and sell it to neighbouring nations in dollars....causing shortage....making more marketers claim they need to import fuel from.other sources other than Dangote......Nigeria is one giant pandoras box..... 1 Like |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by ThatFairGuy1: 7:20pm On Apr 08 |
u and ur ilks will be put to shame should u continue to expect negativity about Nigeria ignis: 1 Like |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by Ballo1292(m): 7:22pm On Apr 08 |
advanceDNA: Many of you that are arm chair critics and baby economist are appalling. Dangote can never demand payment in dollar because he buys in naira from government for the crude. Meanwhile, the % of what he buys from us are little to what we sell in dollar rates in the world market. Many should just do a deep dive before commenting. 1 Like |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by dreamxhaser: 7:28pm On Apr 08 |
Ballo1292: 1. If he buys so little. How will he be able to meet our demand not to talk of supplying other countries. 2. If you pay dangote in naira, of what use will it be to him. You and i both know that maintaining his biz will mostly be in usd right? |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by Basic123: 7:36pm On Apr 08 |
christejames:Just like wishing the country and the government evil will not make your stupid candidate the president 1 Like |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by advanceDNA: 7:38pm On Apr 08 |
Ballo1292: Starting ur conversation with an insult won't make points more superior or correct... Ballo1292:I said he can..I ddnt say he will... And I said so ...becos he buys his crude oil in dollars from outside because Nigeria doesn't supply him the what he needs.....u sdnt even know this as a senior economist that u are claiming..... Ballo1292:Another rush rush comment to present urself as knowledge ....U don't have the figure of what dangote buys nor what he sells internationally ...yet u are claiming trash Many should just do a deep dive before commenting.[/quote] See... u just mentioned me to sound like u are more knowledgeable..but u are just talking a truckload of nonsensé to be honest |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by MetalJigsaw(m): 7:38pm On Apr 08 |
Goodlady:How much are you still buying things in the market. Dey play |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by Sctests: 7:43pm On Apr 08 |
Propaganda cannot sustain the Naira for so long. The reserves are depleting seriously. |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by Goodlady(f): 7:52pm On Apr 08 |
MetalJigsaw:You sef dey play
|
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by NOwazobia: 7:54pm On Apr 08 |
Using nominal solution for a real problem is not sustainable. let's see for how long they can defend the Naira |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by iamtoofan: 7:57pm On Apr 08 |
advanceDNA: Now you are just throwing weight around, no regard for facts, incase you don't know china, russia and norway are countries that export more than they import However US net import is more than they export yet china economic that recorded highest surplus is 2nd to US with trade ... Dangote sold Diesel to marketers why e no vex collect dollar, asides paying expartriates is it dollar dangote will use an run overhead cost and administrative expenses in a Naira economy. Bros you need to revise and study, don't just assume you know 3 Likes
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Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by chinchum(m): 7:59pm On Apr 08 |
advanceDNA:Are you suggesting it is only until Nigeria increase exportation, naira can improve? A drastic cut in importation , all other variables being equal or with negligible change will improve naira. All sources I have see so far have quoted refined oil to be at least 30% of all importation to Nigeria. Dangote will have other by products of the refinery asides petrol. diesel . AGO and jet fuel that may be exported as well as the refinery increases to optimal production. For the forseeable future, at least next 1year, the total supply of petrol, diesel from the refinery will be used up by local demand since Dangote refinery will not be producing at 100% capacity yet. The diesel Dangote is currently selling to Nigerian refined oil marketers would have been imported using US dollars. 3 Likes |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by advanceDNA: 8:01pm On Apr 08 |
iamtoofan: My point is....Until u account for all the factors involved...u cannot claim Dangote's operation will automatically save the naira |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by MetalJigsaw(m): 8:01pm On Apr 08 |
Goodlady:I expected you to answer my question |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by advanceDNA: 8:08pm On Apr 08 |
chinchum: I said huge export is what will greatly improve the naira/exchange rate....Dangote's operation alone won't significantly won't do it....u seff said other variables.....and other variables are not align . the indices that contributes to a sweet exchange rate are many including low corruption. Its fallacy to say once we don't import fuel anymore exchange rate will slide down to 200naira or 500naira..... |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by Konquest: 8:11pm On Apr 08 |
Jagabanbattle: |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by iamtoofan: 8:20pm On Apr 08 |
advanceDNA: What factors bro you don't really understand these things topic, i agree FG/Nigeria have to do more, esp. as to more local production However to a great extent Dangote refinery will save Nigeria a great deal of her foreign reserve, $20billion might be chicken change to you but its all to Nigeria With a private firm like Dangote in the Mix all that corruption you are hinting at, will be sidelined cos there is no course to inflate or lie Infact with dangote on board, it is now we will know the true consumption of Nigerians per day 1 Like |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by chinchum(m): 8:21pm On Apr 08 |
advanceDNA:The word Improvement of naira vs USD is relative. If you decide to put a figure on the improvement and say a slide to 200naira per usd. It will be a combination of multiple factors. "Huge" export alone will also not improve naira to 200naira/usd and it is NOT a low hanging fruit at this time. There is a gestation period for "huge" export when you consider that Nigeria has a huge market of 200 million people. Nigeria has to drastically reduce export of Cocoa and increase export of chocolates and it won't happen overnight. We export lots of raw materials and it is necessary that is switched to refined products. The lowest hanging fruit for Naira at this time is drastic reduction of refined oil importation via Dangote refinery & other refineries like Portharcourt refinery e.t.c 2 Likes |
Re: Naira Continues Appreciating Against Dollar, Sell At ₦1,100 by advanceDNA: 8:24pm On Apr 08 |
chinchum: Of course |
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