₦airaland Forum

The way naira is appreciating is surprising, are we now to hoard or sell our USD. What could be the course of this appreciation

Those who have turned USD into some sort of real estate will be in severe pains soon. They gambled on their country sliding into financial chaos so soon and it is proving to be a wrong gamble.

CodeTemplar:
Those who have turned USD into some sort of real estate will be in severe pains soon. They gambled on their country sliding into financial chaos so soon and it is proving to be a wrong gamble.

It's an increase not a decrease.
Many of una no understand currency exchange sef

EXOUSIAng:
It's an increase not a decrease.
Many of una no understand currency exchange sef

lol. Appreciation or depreciation?

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The current appreciation of the Naira is not a function of what CBN is doing RIGHT. It's about what the US is doing WRONG.

Specifically, what their President is doing WRONG.

He's threatening and launching trade wars avainst his neighbours and allies in Europe.

He's making decisions and UNMAKING them the following day.

That instability and unpredictability is NOT good for the US economy.

The USD is a fake money backed by NOTHING but TRUST in the US government.
Now thanks to Trump, that trust is quickly VANISHING.

Because of that, a LOT of currencies appreciated against the US in the past month. Not just the Naira.

For context, while the USD/NGN rate has dropped by almost #200 since December; the GBP/NGN rate has only dropped by around #35

The problem is the USD. It's not a victory for the NGN.

If you want to hold Forex now, hold GBP.

Namaster:
The current appreciation of the Naira is not a function of what CBN is doing RIGHT. It's about what the US is doing WRONG.

Specifically, what their President is doing WRONG.

He's threatening and launching trade wars avainst his neighbours and allies in Europe.

He's making decisions and UNMAKING them the following day.

That instability and unpredictability is NOT good for the US economy.

The USD is a fake money backed by NOTHING but TRUST in the US government.
Now thanks to Trump, that trust is quickly VANISHING.

Because of that, a LOT of currencies appreciated against the US in the past month. Not just the Naira.

For context, while the USD/NGN rate has dropped by almost #200 since December; the GBP/NGN rate has only dropped by around #35

The problem is the USD. It's not a victory for the NGN.

If you want to hold Forex now, hold GBP.

You're wrong. The Naira is actually appreciating against all currencies: $, £, €, CAD, etc. Your explanation about Trump would only be valid if other currencies had remained unchanged.

Namaster:
The current appreciation of the Naira is not a function of what CBN is doing RIGHT. It's about what the US is doing WRONG.

Specifically, what their President is doing WRONG.

He's threatening and launching trade wars avainst his neighbours and allies in Europe.

He's making decisions and UNMAKING them the following day.

That instability and unpredictability is NOT good for the US economy.

The USD is a fake money backed by NOTHING but TRUST in the US government.
Now thanks to Trump, that trust is quickly VANISHING.

Because of that, a LOT of currencies appreciated against the US in the past month. Not just the Naira.

For context, while the USD/NGN rate has dropped by almost #200 since December; the GBP/NGN rate has only dropped by around #35

The problem is the USD. It's not a victory for the NGN.

If you want to hold Forex now, hold GBP.

What about other currencies too?

[color=#1986BC] The appreciation is factoring the opportunity cost of very much reduction of fuel importation at this time of the year in Nigeria, and beautiful thing is that ,it will continue to appreciate till it reach its equilibrium point as far as factoring Nigeria's low demand of imported fuel is concerned... [/color]

I agree, with the reduced importation of oil product we should expect more appreciation

A good development