₦airaland Forum

Lobatan.

surgical:
so in actual sense there is no floating and government is the market forces,they just put the price at their whims and caprices
Even their subsidy removal is haphazard
Na wao

Yes, both policies became haphazard because they were hurriedly implemented.

When it was down to 1500 to $1 we no see your stupid post. Stupid people only happy when the dollar is rising a giant naira..

Forget am. Not in your generation again.

NaijaCoverBlog:
When Will This Dollar Rate Fall To 1,000Naira

Lol...what do you mean by collecting illegally?
Did you attend basic commerce/economics class in school to understand demand and supply??

Lalami3232:

Even if this naira falls from #1 to $1, prices of things won't still decrease. Government aside eeh, Nigerians are very wicked. We derive joy in collecting illegally from people, but on Sunday, na dem go dey front row. Once again, kudos to our economic team for bringing a positive change, though na una spoil am to this extent. God bless Nigeria!!!
What do I even know sef aside enlightening my fellow men nationwide with the good news

Thats will only happen in your great great great grandchildren's lifetime. Tinubu has damaged this one for now.

b0rn2fuck:
Wahala, until it return to $500

As it is for every government, their shady deals and corruption are exposed when they are pushed out of office.

Once this government is kicked out, you will understand the true situation that led to what they are calling "floating"

It was a poor advice turned awry. They never expected that it would be this bad. They were advised to devalue ( to combat the looming revenue shortages) and liberalise the market(which is different from floating).

They did not expect it to become this bad because they failed to do a comprehensive situation and sensitivity analysis before hurriedfly announcing the reforms

masseratti:
The more they keep the NFEM the more there is room for people to take advantage of the exchange rate and this is not true floating.

Blazetrailer:
As it is for every government, their shady deals ans corruption are exposed ehen yhey ate pushed out of office.

Once this government is kicked ouy, you will understand the true situation that led tinwhat theyvare calling "floating"

It was a poor advice turned awry. They never expected that it would be this bad. They were advised to devalue ( to combat the looming revenue shortages) and liberalise the market(which is different from floating).

They did not expect it to become this bad because they failed to do a comprehensive situation and sensitivity analysis before hurriedfly announcing the reforms

Its not a poor advice,the problem is the implementation.

Basicend:
It is absolutely impossible to float the Naira abstractly.

It has to be controlled the way it is. Otherwise, it wld have been around N3,500 to $1 by now.

We borrow funds a lot, and we have lost a lot of foreign investments. More so, our export quantity have not really grown.

The naira could’ve been deliberately manipulated to price in the strength of the dollar, I’m saying this with the premise of how China weakened its own economy willingly before DJT was sworn in. This is why they are probably non reactive at the tariff DJt is throwing around just bidding their time unlike how Canada and Mexico have been impromptu reactive only to backdown.

RUBBISH

Lol...here we go again. Dont know how many times we will have shout this into some people's thick stuff.

It is always a terrible advice to devalue a currency that plays a second fiddle to other world currencies in its own economy. 1millions times wrong. It will never end well. Good implementation plan or not.

masseratti:
Its not a poor advice,the problem is the implementation.

Lalami3232:

Even if this naira falls from #1 to $1, prices of things won't still decrease. Government aside eeh, Nigerians are very wicked. We derive joy in collecting illegally from people, but on Sunday, na dem go dey front row. Once again, kudos to our economic team for bringing a positive change, though na una spoil am to this extent. God bless Nigeria!!!
What do I even know sef aside enlightening my fellow men nationwide with the good news

it will decrease

Here we go

Very wrong . Chinas strong response to recent Americas tarrif_trade war has nothing, absolutely nothing to do with currency devaluation, not even remotely close to it. Chinas rising GDP, being a factory/production hub of the world and spread of trading networkbto other parts of the world rtaher than rely on Americas markets as their only biggest source of revenue gave it a good chance to push back without minding anything. Not the currency rate sir.

Also, Canada and Mexico have their economies so dependent on Americas so they were exposed to any vagaries of cyclic instability in American market made them weak opponents to the threats of the tarrif. Nothing to do with exhange rates sir.

WantsandMore:
The naira could’ve been deliberately manipulated to price in the strength of the dollar, I’m saying this with the premise of how China weakened its own economy willingly before DJT was sworn in. This is why they are probably non reactive at the tariff DJt is throwing around just bidding their time unlike how Canada and Mexico have been impromptu reactive only to backdown.

Angelfrost:
Naira really appreciated from what it was 6 months ago...!

I still remember when a lot of us projected 2,000 Naira to a Dollar by end of 2024.

It's going there...hope you are ready

phemmyfour:
It's going there...hope you are ready

I hope it keeps appreciating sha...!

Whatever Abracadabra Cardi-B and T-Pain are doing, they should keep it up.

Tsufyaan:
When it was down to 1500 to $1 we no see your stupid post. Stupid people only happy when the dollar is rising a giant naira..

Shame ...you want to celebrate @ 1500, that's like celebrating a bag of rice @ 40k

Angelfrost:
I hope it keeps appreciating sha...!

Whatever Abracadabra Cardi-B and T-Pain are doing, they should keep it up.

Unfortunately, they did nothing

Lalami3232:

Even if this naira falls from #1 to $1, prices of things won't still decrease. Government aside eeh, Nigerians are very wicked. We derive joy in collecting illegally from people, but on Sunday, na dem go dey front row. Once again, kudos to our economic team for bringing a positive change, though na una spoil am to this extent. God bless Nigeria!!!
What do I even know sef aside enlightening my fellow men nationwide with the good news

Have you ran a business before? Or you are one of those who work small and get paid by your boss

If you get a chance with your boss, and listens to how expenses are being incurred by your likes daily, you wouldn't assert this

Blazetrailer:
Very wrong . Chinas strong response to recent Americas tarrif_trade war has nothing, absolutely nothing to do with currency devaluation, not even remotely close to it. Chinas rising GDP, being a factory/production hub of the world and spread of trading networkbto other parts of the world rtaher than rely on Americas markets as their only biggest source of revenue gave it a good chance to push back without minding anything. Not the currency rate sir.

Also, Canada and Mexico have their economies so dependent on Americas so they were exposed to any vagaries of cyclic instability in American market made them weak opponents to the threats of the tarrif. Nothing to do with exhange rates sir.

interesting and you strongly believe China weakening its own economy isn’t an impactful factor?

Lalami3232:

Even if this naira falls from #1 to $1, prices of things won't still decrease. Government aside eeh, Nigerians are very wicked. We derive joy in collecting illegally from people, but on Sunday, na dem go dey front row. Once again, kudos to our economic team for bringing a positive change, though na una spoil am to this extent. God bless Nigeria!!!
What do I even know sef aside enlightening my fellow men nationwide with the good news

Dollar isn't the cause of high price . High interest rates , custom duties are hugely responsible.

Most Nigerians don't even understand the economy that's why they voted for Tinubu

Lol....China is not and has never weakened its economy. In fact, at the current growth rate projected, China may rival US for the largest economy in 10 to 12 years from now. One of the reasons America is jittery and coming up with all these tarrifs and unnecessary trade wars, to slow China down. But this time China is well prepared and its economy well fortified against any trade war(after they learnt from previous Trump trade wars). China even refused to have any meeting with Trump on the tarrif issue(when Trump requested one last week) unlike Mexico and Canada. They imposed their own tarrifs because their govt. has been working on insulating their economy from shocks like this for the last 10 years. Thats is why they have spread their investments to other rich but dependent countries instead of concentrating on America alone

I guess what you wanted to write is that China deliberately manipulate their currency to look weaker against specific currencies in order to make their goods cheaper, for a comparative advantage in trade balance. This is not new, China had been doing this since their industrial revolution of 1970s(u can read it up). They are not the only ones doing this. Japan also deliberately kept the value of the yen lower. India and many ASEAN countries do it once they notice they have cheaper exports to stronger economies and big markets like US and Europe depend on them for most of their production as a result of globalisation. This has nothing to do with tarrifs.

It is known that you can get away with devaluation of your currency when you notice you are the production/manufacturing hub of the world....not a consumption driven economy like Nigeria's.

The biggest misfortune of Nigeria is having dafts like Tinubu as leaders, who does make decisions on the whims. Devaluing the Naira was a costly mistake that will set Nigeria back for another 50 years....thats why they are presently clueless on how to correct tge blunder

WantsandMore:
interesting and you strongly believe China weakening its own economy isn’t an impactful factor?

helinues:
It go soon gbera

I really enjoyed exchanging this week. The rate was fanimorous

Who dash Monkey banana.
Except na thief you go thief that dollars, nothing for you.
You can't be spending 24 hours on Nairaland defending EscoBAT and his wicked government and expect to make money, hard currency for that matter.

O Boy, go look for work do and stop deceiving yourself.

Angelfrost:
Naira really appreciated from what it was 6 months ago...!

I still remember when a lot of us projected 2,000 Naira to a Dollar by end of 2024.

Check the trend....this is where it was as at this time last year....
Dollar will start it's rise against the Naira from March and April. The Naira will lose much of its value this year because of Politicians buying off FX for election in 2027.

More hard and difficult times ahead.
Brace up for Impact!

hatchy:
Check the trend....this is where it was as at this time last year....
Dollar will start it's rise against the Naira from March and April. The Naira will lose much of its value this year because of Politicians buying off FX for election in 2027.

More hard and difficult times ahead.
Brace up for Impact!

emperor4love:
do you want to sell

yes. i have 115π for sale

Blazetrailer:
Lol...here we go again. Dont know how many times we will have shout this into some people's thick stuff.

It is always a terrible advice to devalue a currency that plays a second fiddle to other word currencies in its own economy. 1millions times wrong. It will never end well. Goid implementation plan or not.

No vex I can't have any discussion about this topic with you because it's a waste of my time .so I will do the honorable thing.. yes you are right...good night.

Lol....oh...did you think I would get into a discussion with someone so shallow on this topic before?

Anyone who thinks that devaluing Naira in 2023 was a right advice, when Naira was subjective to USD even in the Nigerian economy, woth low export mechanism, without first sanitising the financial system to de-dollarise the economy, and with so much excess liquidity of Naira to chase the scarce USD, that person should go back to cattle rearing or moi moi hawking.

100 million times over, it will always be the wrong-est advice.

masseratti:
No vex I can't have any discussion about this topic with you because it's a waste of my time .so I will do the honorable thing.. yes you are right...good night.

Correct!!!... economy is dollarised.

USD is a currency of choice,even in Nigeria. If they ever advised anyone to devalue his currency to stabilise it, that person should have known that, as long as USD is preferred to local Naira, the devaluation will have a double negative impact. People will work hard to get naira to buy the few USD available because certain transactions are better conducted in USD, even in Nigeria now, the USD is a better store of value. So why were you dumb to allow for devaluation ?

hatchy:
Check the trend....this is where it was as at this time last year....
Dollar will start it's rise against the Naira from March and April. The Naira will lose much of its value this year because of Politicians buying off FX for election in 2027.

More hard and difficult times ahead.
Brace up for Impact!

Justice9ja:
yes. i have 115π for sale

u hv migrated and what's you price you want to sell per 1