₦airaland Forum

Why won't it plunge when all they do is send and spend on frivolous projects while looting like crazy

Á university wanted 600M they signed 43 billion

Jamb used 1.8 billion for refreshments

Idiots in the house want another jet for your Vice President

They are buying nonsense and sharing prayers to their accounts but have done nothing to move Nigeria to a producing / exporting country

If it's by tax and vat. Countries like UK will be better than Dubai

Tiffnubu has come to plunder and steal

Realdeals:
Why should the decline be considered a loss, it is normal for the fluctuations.

As par crypto

The west is funny. They gave us independence but we still have to maintain foreign reserves in their currency 😂

DrAda:
Such a volatile market

Do you notice the balance, how is it that Nigerians just like bad news? I am surprised that our reverse has hit $40b and no news media had said a word on that all this while. With the level of enemies of progress in this country, I am beginning to believe that God seriously love this country, else it would have collapse long time ago.

NothingDoMe:
Because it's supposed to be on a steady gain seeing as how the CBN claims to have not interfered with the FX market by using the reserve to defend the Naira.

Not exactly,
Foreign reserves is a flow,that is inflows minus outflows.
No intervention means the CBN isn't injecting cash directly to stabilise/control prices,in essence prices are determined by market forces,
Doesn't necessarily mean there are no balance of payments from the same reserves.
You still deposit your naira and get paid forex in your destination of choice,however at market determined prices.
A lot of people don't know how things work yet blow alarms unnecessarily ,even though I know nairametric knows but is just looking for headline news to freak out untrained minds.

Well, it has earned the right to drop a little after rising all these while. It was about $32bn before but getting to $40bn is a good feat. It should only be curbed to either remain steady or rise again.

SeaTrade:
Not exactly,
Foreign reserves is a flow,that is inflows minus outflows.
No intervention means the CBN isn't injecting cash directly to stabilise/control prices,in essence prices are determined by market forces,
Doesn't necessarily mean there are no balance of payments from the same reserves.
You still deposit your naira and get paid forex in your destination of choice,however at market determined prices.
A lot of people don't know how things work yet blow alarms unnecessarily ,even though I know nairametric knows but is just looking for headline news to freak out untrained minds.

FX reserves is not a "Flow".FX reserves are a type of savings.

Now when you deplete your savings, you do it to meet your financial obligations.

So why did the CBN deplete the FX reserves? Or rather, what financial obligation compelled the CBN to withdraw over $300 million from the FX reserves (savings)?

Something wey dem use score for December last year.

NothingDoMe:
FX reserves is not a "Flow".FX reserves are a type of savings.

Now when you deplete your savings, you do it to meet your financial obligations.

So why did the CBN deplete the FX reserves? Or rather, what financial obligation compelled the CBN to withdraw over $300 million from the FX reserves (savings)?

No.
It is a flow ,go and learn about it,
The net surplus of this flow is what is called "reserves".
That's why it is possible to have negative reserves.

Efi kan bale oshi

SeaTrade:
No.
It is a flow ,go and learn about it,
The net surplus of this flow is what is called "reserves".
That's why it is possible to have negative reserves.

Please provide the link, preferably official, where it says the FX reserves are flow and go. Thanks.

NothingDoMe:
Please provide the link, preferably official, where it says the FX reserves are flow and go. Thanks.

Not my job to educate you.

SeaTrade:
Not my job to educate you.

I was 💯 sure you'd talk nonsense in the end. I always know how to catch a propagandist without a dollar to his name. 😄.

SeaTrade:
No.
It is a flow ,go and learn about it,
The net surplus of this flow is what is called "reserves".
That's why it is possible to have negative reserves.

Still i love to educate.

A negative reserve is rare but possible when your FX debt is bigger than your FX assets. It has nothing to do with the nonsense you just wrote about flow go.

A negative reserve is a "technical" term.

Sensationalism ...

First the so call fall as a percentage of reserves is miniscule. Second Nigeria must pay its obligations. The reserves are not like the fx rates, they fall when legitimate payments are being made.

This report is making a mountain out of a molehill as it knows the average Nigerian is reactionary. Can they imagine how much goes out of the US or UK treasury daily to meet bond etc payments.

NothingDoMe:
I was 💯 sure you'd talk nonsense in the end. I always know how to catch a propagandist without a dollar to his name. 😄.

I have no need for propaganda as I am neither a politician or will gain anything to convince you.
Quite sure I'm significantly richer than you but anyways,enjoy your delusion.

NothingDoMe:
Still i love to educate.

A negative reserve is rare but possible when your FX debt is bigger than your FX assets. It has nothing to do with the nonsense you just wrote about flow go.

A negative reserve is a "technical" term.

This clown goes ahead to make my point as a comeback.

How do you have a "negative " on savings ffs!
IQ of a tolotolo

SeaTrade:
This clown goes ahead to make my point as a comeback.

How do you have a "negative " on savings ffs!
IQ of a tolotolo

You have never seen a negative balance on an account? Are you serious?!

Maybe you save money in a "flow go" 😅😅😅.

SeaTrade:
I have no need for propaganda as I am neither a politician or will gain anything to convince you.
Quite sure I'm significantly richer than you but anyways,enjoy your delusion.

Highly doubt that but we can always find out irl if you're up for it.😁.

No point measuring dicks on a faceless forum .

NothingDoMe:
Highly doubt that but we can always find out irl if you're up for it.😁.

No point measuring dicks on a faceless forum .

We can drop appetisers here,
For a start....

Ask them where the audio 200 million dollars wey dem get from IJGB in Detty December?
The P in APC is for propaganda.
Know this and know peace.
Na why minister wan spend 8 billion for sensitisation on electricity for people wey no get light plus those wey get generator and solar.

MatrixCircle:
359.81USD Millions only ? For one of the largest producers of oil in the world. This is pocket money for some igbo business men in Aba.

We're busy defending the Naira😠😠😠