₦airaland Forum

NaijaCoverBlog:
Source: https://www.vanguardngr.com/2025/02/naira-down-to-n1570-in-parallel-market/

Blazetrailer:
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:
Oga go and rest you nothing but a semi illiterate...you know nothing about the topic you writing about and you are ranting all over the thread,I won't waste my time discussing the dynamics of currency evaluation with someone like you ,who knows next to nothing about Macro Economics,from the rubbish you wrote replying someone about China etc ,it clearly shows you know nothing.just one question how did you want the Federal Government to keep the value of Naira at what is was in 2023 at it's level when all the forex the government can have access to is not more than 7 billion USD,CBN uses 500 million USD to keep it at the rate they peg it meanwhile in the black market ,which is the true economy rate of the currency it's a difference of 70%,I know you won't understand all written because you are myopic and it seems you are ITK ...if you quote me again I will just ignore you..be blissful in your ignorance.

Justice9ja:
What's your rate?

Blazetrailer:
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:
You seem super confident of your analysis. Lol. Don’t you think there are factors you’re not privy too which is a dilemma in it own self?

ebukason3:
1800-1900 depending on quantity, how many to you have.

emperor4love:
u hv migrated and what's you price you want to sell per 1

Justice9ja:
Yes i have migrated. I want to sell 37 pi out of my available pi. N2400/pi

emperor4love:
Lol no one gone buy u that keep it till Thursday then,least u can get for it is 1900 nd by Thursday if not listed, u will beg ppl to buy at 1k, so make good decision

Justice9ja:
Let's deal at 2000