₦airaland Forum

1475 now

Lol... ...... had to spell it out for dumbos like you since your brains are not capable of deciphering the difference.

Lol...I can see you are now now more interested in knowledge and s someone who does not let the opportunity to pass on some knowledge to some of you educated illiterates, I wont let this one slip

Singapore, Brazil, Japan, India for instance run a managed floated exchange rate system(disguised as floated). The government is a participant (through the national or central banks) in the exchange rate market often intervening through sales, purchase, hoarding and sometimes fixing rates directly

US, Canada, UK, Australia, etc run a fully floated system where the government never ever participates in the exhange rate markets. They only use monetary policies(eg interest rates) to fight cyclical imbalances The commerial banks are also the holders of the forex and not the central banks(unlike your country)

Devaluation is an action carried out by a governmnet to adjust downwards the value of a country's currency for economic reasons.

Lol...i hope the above brief expo is clearer to you now. You can then rate where Nigeria is and come back tk tell me if your currency is floated.....

Putindbutt:
Shut up, nobody asked you for the definition of devaluation. The question is, based off your comment up there, was the naira, fully floated, a managed floating system or devalued?. Today na today 😂😂😂

PressMyButton:
Bitter people says after China holiday, naira would slide down and lose its strength. Against their wish, the naira is even getting stronger against the dollars, Euros, Canadian dollar and pound. Kudos to Cardoso and his indefatigable team.
Wailers, continue wailing, we like it like that.


After God, na Tinubu 💪 God bless Nigeria

The most bitter person is T-Pain, followed by his blind BATolomeus supporters.

If T-Pain is not the most bitter, please tell us why he has failed to achieve his short term goal after almost two years of hitting the ground running?
How long has Trump being in office? How many of his campaign promises has he failed to achieve

Can we say that Trump has integrity but the Chicago druggie in Aso Rock has integriThief?

anonimi:
World Bank offers Nigeria forex rate advice, as Tinubu eyes N200/Dollar rate[

April 23, 2023

The President-elect said he would work with the Central Bank of Nigeria (CBN) to *bring down the exchange rate to N200 in his first term.*

“My administration will collaborate with the Central Bank to harmonize the fiscal and monetary policy to achieve immediate stabilization of the value of the naira against the US dollars and other currencies and in the short term, strengthen the naira by boosting the supply of foreign currency and moderating demand.

“The short-term goal is to achieve a naira/dollar rate of 300 naira/US$ and gradually achieve a less than 200 naira rate over the next four years, Tinubu stated.

https://www.ripplesnigeria.com/world-bank-offers-nigeria-forex-rate-advice-as-tinubu-eyes-n200-dollar-rate/?amp

Blazetrailer:
Lol... ...... had to spell it out for dumbos like you since your brains are not capable of deciphering the difference.

Lol...I can see you are now now more interested in knowledge and s someone who does not let the opportunity to pass on some knowledge to some of you educated illiterates, I wont let this one slip

Singapore, Brazil, Japan, India for instance run a managed floated exchange rate system(disguised as floated). The government is a participant (through the national or central banks) in the exchange rate market often intervening through sales, purchase, hoarding and sometimes fixing rates directly

US, Canada, UK, Australia, etc run a fully floated system where the government never ever participates in the exhange rate markets. They only use monetary policies(eg interest rates) to fight cyclical imbalances The commerial banks are also the holders of the forex and not the central banks(unlike your country)

Devaluation is an action carried out by a governmnet to adjust downwards the value of a country's currency for economic reasons.

Lol...i hope the above brief expo is clearer to you now. You can then rate where Nigeria is and come back tk tell me if your currency is floated.....

OMG!, o boy, you dull o 😂😂 who asked you stories 🤣🤣🤣 na so una too dey fail exams. Simple question, this mumu dey mention India, Japan 😂😂😂.
Let me repeat the question for you

Putindbutt:
The question is, based off your comment up there, was the naira, fully floated, a managed floating system or devalued?.

That's the question, no stories abeg. All your noise, today we go know.

galserv:
That rate was unsustenable after Emefiele injected NGN22Trillion from thin air into the economy.
Sorry.

I guess he was working for PDP government that most of you called devil 👿👿.

Hypocrisy is in your bloodline.

Lol.....for the umpteenth time. Naira is not floated., It is being managed......how else can I get that into your thick skull? Please help me to help you...

No floated currency ever have the CBN/reserve bank sell foreingn currency to a particular set of people at a different rate from the supposed market rate!!!!!!

Lol....You keep referring to devaluation after explaining to you like a primry school teacher...lol.

Where did they bring illiterates like you from?

Putindbutt:
OMG!, o boy, you dull o 😂😂 who asked you stories 🤣🤣🤣 na so una too dey fail exams. Simple question, this mumu dey mention India, Japan 😂😂😂.
Let me repeat the question for you



That's the question, no stories abeg. All your noise, today we go know.

Smartcitizen:
I guess he was working for PDP government that most of you called devil 👿👿.

Hypocrisy is in your bloodline.

Nobody thought/imagined Buhari's government could be that catastrophic

Lol...i never ran away from the supoosed intelligent ones here on Nairaland that I have had highly intellectual debates with....it is you a bloody illiterate that does not even know how to spell his name that I will run away from??... ...

You don't even know what an exchange rate system is talkmore of onowing the variants....lol

Putindbutt:
Don't run away, answer the question

Bad news for people like me wey dey catch out in dollars

Blazetrailer:
Lol.....for the umpteenth time. Naira is not floated., It is being managed......how else can I get that into your thick skull? Please help me to help you...

No floated currency ever have the CBN/reserve bank sell foreingn currency to a particular set of people at a different rate from the supposed market rate!!!!!!

Lol....You keep referring to devaluation after explaining to you like a primry school teacher...lol.

Where did they bring illiterates like you from?

Blazetrailer:
Lol....if only you were educated enough to know when a currency is fully floated and when it is a managed floating.

To help your brain, that issue had been thoroughly debated on Nairaland at least and all ressonable conclusion arrived at the factbthat it was devalued and not floated. You can do a quick search instead kf diagracing yourself with half knowledge

You can also try and read the march 2024 IMF report that labelled it as "systemic devaluation" to help your knowledge . Those ones dont have any mumu to deceive.

Can you see how stupid you sound. An empty barrel making the loudest noise. Cho cho cho everywhere all the time. Mofo.

Our foreign reserve has lost 8b USD to this effect

Oshodi economics

Mccollins042:
Our foreign reserve has lost 8b USD to this effect

Oshodi economics

Another retard from Blazetrailer's family 🤣🤣😂

santaclaws:
If not for NNPC's and some marketer's insistence on importing fuel, Naira would have even gotten stronger by now...

We don't need to keep chasing the dollar with a lot of Naira, that's what's causing the rise of dollar above 1k. Normally, by now, 1 dollar shouldn't even be above 900 naira.

To stop chasing dollar with a lot of nairas, the minimum wage should be reduced and commercial banks have to be decapitatalize to reduce the money supply.

.....lol...Illiteracy is an illness that is incurable....lol.

I now know were you stupidiy is oozing from.

IMF called it "systemic devaluation" ....but in your stupidity, you took "devaluation" to mean another method of exchange rate system....lol......what a slowpoke!!

Putindbutt:
Can you see how stupid you sound. An empty barrel making the loudest noise. Cho cho cho everywhere..

galserv:
Nobody thought/imagined Buhari's government could be that catastrophic

Hahaha hahaha!

You think this Agbero Oshodi Economics will perform better.


🤣🤣🤣🤣🤣

Seun, I like this naira vs dollar update that you always give.

Nice one

Blazetrailer:
.....lol...Illiteracy is an illness that is incurable....lol.

I now know were you stupidiy is oozing from.

IMF called it "systemic devaluation" ....but in your stupidity, you took "devaluation" to mean another method of exchange rate system....lol......what a slowpoke!!

This is why you can never amount to anything in life, a retard forming Mr ITK but whose brain is that of a toad. Even a fool must know when to be sober and call it quit. Idiot.

Gboss247:
To stop chasing dollar with a lot of nairas, the minimum wage should be reduced and commercial banks have to be decapitatalize to reduce the money supply.

LOL... You don't know anything about what you wrote up there. I am an economist, so none of those things you wrote have any effect on the naira.

The minimum wage increase is a response to current cost of living and the dollar wouldn't suddenly reduce just because people are earning low.

Smartcitizen:
Hahaha hahaha!

You think this Agbero Oshodi Economics will perform better.


🤣🤣🤣🤣🤣

He's already performing better

Lol....I have come across your type a few times in real life, I am not surprised at your level of buffoonery, really. For someone who does not read beyond evening newspapers and gossip magazines, its is not hard to fathom why you sound so daft.

Did you even know there was a report from IMF on the so called fake reforms in March 2024 ? Why did you think IMF came out in November 2024 ti statevtgatthw reforns were not working. Why did you think the Economist magazine and Reuters refered to what Tinubu was doing as devaluation ofbthe Naira?

Oponu.....When they guve you 30k/ per month to sell out your future and a poorly coupled 2nd generation desktop at the Computer village,it is noy a surprise that you assune you know what you dont even have faint idea about...lol

Come here, let me school you....oponu

Putindbutt:
This is why you can never amount to anything in life, a retard forming Mr ITK but whose brain is that of a toad. Even a fool must know when to be sober and call it quit. Idiot.

Lol 🤣

MasterJayJay:
Delusional!! If I give you the option to take 100 naira or 100 US dollars, which one will you take?

After God na Tinubu? That means Tinubu is greater than prophet Muhammad.

Have you seen a dollar note before?
Describe it, please.

SerpentAWOLOWO:
The government needs to create more psychiatric hospitals in Yoruba land

Recent research showed that South East has the highest number of hypertensive and psychiatric patients.

Abeg wen our naira go be 250 per dollar before APC came?

PressMyButton:
Bitter people says after China holiday, naira would slide down and lose its strength. Against their wish, the naira is even getting stronger against the dollars, Euros, Canadian dollar and pound. Kudos to Cardoso and his indefatigable team.
Wailers, continue wailing, we like it like that.


After God, na Tinubu 💪 God bless Nigeria

Stronger at 1,500 to 1 dollar?

Truly in the land of the blind the one eyed man is king.

PressMyButton:
Bitter people says after China holiday, naira would slide down and lose its strength. Against their wish, the naira is even getting stronger against the dollars, Euros, Canadian dollar and pound. Kudos to Cardoso and his indefatigable team.
Wailers, continue wailing, we like it like that.


After God, na Tinubu 💪 God bless Nigeria

/

N750 to N1700.

Can it get to at least N1000 before you start raising shoulders?

/

Putindbutt:
How is he defending it?.. bot has jammed bot today.

who is the "he" and what is the "it" that he is defending?

Putindbutt:
How is he defending it?

who is the "he" and what is the "it" that he is defending?

PressMyButton:
Bitter people says after China holiday, naira would slide down and lose its strength. Against their wish, the naira is even getting stronger against the dollars, Euros, Canadian dollar and pound. Kudos to Cardoso and his indefatigable team.
Wailers, continue wailing, we like it like that.


After God, na Tinubu 💪 God bless Nigeria

.


But in 2015 , Sai baba was the other of the day..you guys said you will make Naira to be 1$=1N Since then, wetin happen? Now you guys have moved it from 700N to 1500$.. You dey here dey jump up and down. Na wa o! Lol

Putindbutt:
Oya, interprete his English?, tell us your understanding of what he said 😂😂
When people wey go school dey talk, just keep quiet.

Your incompetent President Tinubu don scatter Nigerian economy. The man is clueless.

georgeakins:
Have you seen a dollar note before?
Describe it, please.

Olodo! Not everyone is into physical cash. Many importers in Aba have not seen physical dollars.

santaclaws:
LOL... You don't know anything about what you wrote up there. I am an economist, so none of those things you wrote have any effect on the naira.

The minimum wage increase is a response to current cost of living and the dollar wouldn't suddenly reduce just because people are earning low.

To be sincere, you have confirm your economic illiteracy and ignorance.
The cost of living is the simply prices of commodities that one to acquire to make life comfortable. The prices of commodities are determined by the value of your currency.
The value is inversely proportional to the volume of money. Increasing the minimum wage is simply increasing money supply which results to currency depreciation. Increasing the minimum wage to fight is one of the most stupid thing believe by economists without knowledge.