₦airaland Forum

There are so many factors contributing to naira gaining strength against dollar.

Firstly, the subsidy removal on fuel. The government used to pay the money in dollars even for the fact that almost half of the exported fuel for refining won't make it back to Nigeria. Reason why Benin was protesting when Nigeria removed fuel subsidy

Secondly, according to the last import and export reports, we are now exporting more than importing meaning the pressure on dollar demand is reducing

Some transactions that normally required dollar payment can now be paid in naira with your local credit card.

Before , the institutions, the business people can go to bank to request for dollar but now, you will be scrutinized on what you need the dollar for.

The lastest FX reserves indicated we have excess which the last time we had such was in 2019. Meaning we now have excess dollar in circulation

abhosts:
The Naira is not gaining any strength. It is Trump's dollar that is losing value against all other currencies. If the Naira was gaining strength, the Pound would not be ₦2100.

Lol the article had me drooling and swallowing everything hook line and sinker till I read your comment😂 Nigeria wan use USA do propaganda. I believe it's a bit of several factors though but certainly the elephant in the room is the factor you mentioned.

Too bad though, e be like Dangote is about to start his dramas again and that might erode any gains we are seeing now.

Lmaooooo

The dollar is getting weak against other currencies, dawg. Stop lying naaaaa.

Hian

APC and lies sha

Goldrosewine:
Lol the article had me drooling and swallowing everything hook line and sinker till I read your comment😂 Nigeria wan use USA do propaganda.

APC and their father, the devil, can't spe@k truth. Everything they say should be taken with a grain of salt.

abhosts:
The naira is not gaining any strength. It is Trump's dollar that is losing value against all other currencies. If the naira was gaining strength, the British pound would not be ₦2100.

When did Dollar start loosing strength? Because that didn't start yesterday. Hope you still remember BRICS, it wasn't established yesterday

PlasmaTV:
APC and their father, the devil, can't spe@k truth. Everything they say should be taken with a grain of salt.

I was expecting you guys to dispute the points raised above but unfortunately,it's as usual nagging

helinues:
I was expecting you guys to dispute the points raised above but unfortunately,it's as usual nagging

Lol 🤣
Shame no dey catch you? Ehn?

Oya go and check Google and stop lying on the Internet, bro.

PlasmaTV:
Lol 🤣
Shame no dey catch you? Ehn?

Oya go and check Google and stop lying on the Internet, bro.

you go allow the guy run now

Why is a mod/bot/helinus deleting comments?

He lied and we countered lies with fact and our comments are being deleted. Se kosi, osewa?

Anyways, to the newcomer, Helinus claimed that the naira was gaining against the dollar which is a big fat lie. The dollar is weakening against currencies.

The Nigerian president isn't doing anything to strengthen the naira. Any gain against the dollar is due to the US economy.

Osiris12:
you go allow the guy run now

The guy no serious.
Why were our comments deleted?
Seun and his people dey move like abacha.

PlasmaTV:
Lol 🤣
Shame no dey catch you? Ehn?

Oya go and check Google and stop lying on the Internet, bro.

That's a very poor way of analyzing dollar strength and could lead to painful financial decision.

The anticipation and biasness that followed Trump reelection was the reason for the initial drop which is mere artificial.

The rallying for BTC and gold presently is expected hedge every rational investment would want take.

This has not in anyway reduced the value of dollar, rather dollar has been consolidating in the past 6month against GBP and EUR.

Take this home today, except for Gold and BTC, there is no internation currency that will retain its present status against the USD in the next 1 year.

You can run away with quick bucks when trying to cash in on the present waves but you'll definitely get your hands burnt when playing medium to long terms click.

Let's see if Naira can sustain its stability, but it's too early to project a rallying, but it's certain the reforms have stopped the sloppy trends of over 40years, thats worth celebrating and a boost of confidence

Naira didn't gain any strength

FarahAideed:
Naira didn't gain any strength

you no longer break bricks with head

abhosts:
The naira is not gaining any strength. It is Trump's dollar that is losing value against all other currencies. If the naira was gaining strength, the British pound would not be ₦2100.

Which dollar is losing against other currencies? As at today, the pound sterling has lost almost 2% against the dollar. Go to sky news channel to verify this

nothingspoil70:
Which dollar is losing against other currencies? As at today, the pound sterling has lost almost 2% against the dollar. Go to sky news channel to verify this

The thing just surprised me when people just throw information without regards for the context at which it was used.

Half baked I knowledge can be more dangerous than ignorance. Sadly, we have more of them in abundance among SM users

abhosts:
The naira is not gaining any strength. It is Trump's dollar that is losing value against all other currencies. If the naira was gaining strength, the British pound would not be ₦2100.

Sterling is actually N1999. But you are right part of the appreciation in Naira against the dollar is due to the dollar itself losing value against almost all currencies since Trump,started his trade wars..

That said, you are also wrong. Naira is also gaining due to increased reserves, more exports, less imports, rising crude production and harmonization of exchange rates leading to more inward remittances via the official channels.

The rise is the Naira is a combination of the work the country is doing and the weakness in the dollar. To deny the role of either is tp present an intellectually incompetent argument.

You forgot to add this. Abi you think everyone is gullible?

helinues:
There are so many factors contributing to naira gaining strength against dollar.

Firstly, the subsidy removal on fuel. The government used to pay the money in dollars even for the fact that almost half of the exported fuel for refining won't make it back to Nigeria. Reason why Benin was protesting when Nigeria removed fuel subsidy

Secondly, according to the last import and export reports, we are now exporting more than importing meaning the pressure on dollar demand is reducing

Some transactions that normally required dollar payment can now be paid in naira with your local credit card.

Before , the institutions, the business people can go to bank to request for dollar but now, you will be scrutinized on what you need the dollar for.

The lastest FX reserves indicated we have excess which the last time we had such was in 2019. Meaning we now have excess dollar in circulation

Back to work hopefully they increase you guys salary soon :

C!own

ibabz:
You forgot to add this. Abi you think everyone is gullible?

It’s called a managed float. Every country defends its currency when needed. It you had stopped to think, it might have occurred to you, that we must be doing pretty well to have spent $8b defending the Naira and still managed to grow our reserves from $3B to $43b as at yesterday!

If you don’t have reserves can’t defend your currency. The reason why our reserves fell to $3b under Buhari was because we drew down the little we had defending an artificial rate. Like I said that we can intervene and defend the currency when needed (it was a one off). And at the same time increase our reserves is a sign of progress.

Op talk is cheap and I know how difficult it is for you guys to continue defending Balablu and his NON STATISTICAL adherence to governance, as your Tinubu asserted "NA STATISTIC WE GO CHOP"?

See attached and current naira - dollar value according to FORBES.

abhosts:
The naira is not gaining any strength. It is Trump's dollar that is losing value against all other currencies. If the naira was gaining strength, the British pound would not be ₦2100.

Bro you are saying nothing..it doesn't make sense

abhosts:
The naira is not gaining any strength. It is Trump's dollar that is losing value against all other currencies. If the naira was gaining strength, the British pound would not be ₦2100.

why are you lying, pounds is currently below 2000; i m based in the UK

Ttalk:
The thing just surprised me when people just throw information without regards for the context at which it was used.

Half baked I knowledge can be more dangerous than ignorance. Sadly, we have more of them in abundance among SM users

Bro, this thread is for enlightenment. I think that's what we should be doing till 2027.

Majority of the opposition supporters don't know Jack about economy and they wouldn't mind misleading others. Na we no go gree for them

jogojogo:
why are you lying, pounds is currently below 2000; i m based in the UK

Those people in the opposition wouldn't mind to lie just to prove nothing.

1 Egyptian Pound is 32.55 Naira.
1 Moroccan Dirham is 152.92 Naira.
1 SA Rand is 83.27 Naira.
1 Namibian Dollar equals 83.27 Naira.
1 Kenyan Shilling is 9.69 Naira.
1 Tanzanian Shilling is 0.53 Naira.
1 Ghanaian Cedi equals 131.79 Naira.
1 West African Franc is 2.47 Naira.

Until you change this your monicker I will never see anything you post here making sense! You wan preach your paymaster to us.

If you are talking about subsidy removal as a reason, why are they still borrowing upandown?

helinues:
There are so many factors contributing to naira gaining strength against dollar.

Firstly, the subsidy removal on fuel. The government used to pay the money in dollars even for the fact that almost half of the exported fuel for refining won't make it back to Nigeria. Reason why Benin was protesting when Nigeria removed fuel subsidy

Secondly, according to the last import and export reports, we are now exporting more than importing meaning the pressure on dollar demand is reducing

Some transactions that normally required dollar payment can now be paid in naira with your local credit card.

Before , the institutions, the business people can go to bank to request for dollar but now, you will be scrutinized on what you need the dollar for.

The lastest FX reserves indicated we have excess which the last time we had such was in 2019. Meaning we now have excess dollar in circulation

Is this the best time to buy crypto or the worst time🤔🤔🤔🤔

SpencerForbes:
Is this the best time to buy crypto or the worst time🤔🤔🤔🤔

Traditional coins like BTC, eth, Solana, SUI but you see all those new coins, most of them are running pure scam.

Lol

You are late with the propaganda. Naira went up to N1490 to $1 for a few days and was back to N1530 to $1.