₦airaland Forum

Naira isn't going beyond and below N300...

whatever happened to $1to #1... was that not what the APC government promised? Till it gets to that point..the stability is a joke .
check my signature

Osinbade is working

Hmm. I pray everything get better soon. Watch amazing videos of Nadia Buari pregnancy break dance
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If you are in the US or have relatives in the US trying to send money to naija, I will exchange the funds at 340/$, simply deposit into my US bank account and receive instant funding into your Nigerian account. Don't bother with western Union and co, they exchange at 355/$ with fees and the exchange rate drops to around 316/$... Western Union has limits and they can report to the IRS.


Contact in signature..

Even at the current price, the price of commodities is still increasing why? See why French Montana touched Amber Roses's butt at the beach
http://www.updatesflow.tk/2017/05/that-moment-french-montana-touched.html

Its ok lets watch where this will lead to. Apply for Maltina teacher of the year 2017 competition
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Zi:
Reading the first twenty comments, few things I have observed:

1. The reality is sinking in now and Nigerians have started accepted this rate.
2. We have finally gotten adjusted to this new rate. Nobody is cussing or wailing any more
3. Dollar can never come back to where it was before Buhari took over. (N190 - N210 per dollar)

Finally, WE HAVE BEEN SCAMMED BY APC PROPAGANDA, BIG TIME!!!

scammed big time

goshen26:
But we agreed on #1 = $1



FG, do not breach agreement ooo

Stable? What economic impact will this bring? lets watch out. Apply for a leading commercial bank recruitment 2017
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Hillarie:
nice.. At least the Naira can be 'stable'

You just read the headline not the content. Don't you know that May 29 is around the corner? READ! Lol

chuksjuve:
whatever happened to $1to #1...
was that not what the APC government promised?
Till it gets to that point..the stability is a joke .

check my signature

They never did say that, they said that they would make the naira to be at par with the dollar, which isn't the same as N1 =$1.

Still, even then, that is just political talk to get elected.If we really want to get naira to 1$=1N, we have to spend more on power, education, cut government spending, cut corruption, and go thru severe austerity and raise taxes, and cut e bloated civil service.

Seeing that, I doubt the govt is willing to make such sacrifices. It isn't a vote winner

HAH:
Good one, hoarders keep losing.

As long as we sell oil at above $40 per barrel this CBN policy is sustainable and for those saying CBN is wasting dollar they should know that Nigeria earns in dollars while salaries and others are paid in naira as such they need to sell the earn dollars to get naira for government, furthermore despite they regular injection our reserves too has increased.

Personally I believe the equilibrium price of dollars should be N250 in order to also encourage exporters while making life less harsh for the populace that depend on imported goods thereby reducing inflation

I am not as optimistic as you are.

We really need oil to be as high as 100 USD before we can get optimistic. $50 isn't enough

Ok

Akshow:
Can someone pls tie Bubu down in UK. our bleak condition always improves when he is bed ridden. I don wanna wish him dead but can he remain on sabbatical in UK forever? Thanks.

Seconded

Anytime he is not in the country, naira become steady.

9jakohai:
They can't .Nigerian currency depends right now on how much forex we can earn from oil.

Oil isn't a stable source of forex

China has a strong currency.They also earn much of their forex from being a manufacturing nation. Same for the US and some other countries.

Yeah you're right why can't the FG improve Agriculture, build just 4 World Class Universities and divert public transport to rail system to reduce dependence on petrol. Will it work?

Akshow:
Can someone pls tie Bubu down in UK. our bleak condition always improves when he is bed ridden. I don wanna wish him dead but can he remain on sabbatical in UK forever? Thanks.

Small sense you no get, When Buhari return in March exchange rates was #450 and about a week later it drop bellow #400..


Nexr time use your brain before talking..

iceberryose:
Till It Gets To What APC promised.....

Maybe when crude oil price get to $140 as it is under GEJ..

goshen26:
But we agreed on #1 = $1



FG, do not breach agreement ooo

You and who make that agreement? Any audio or visual evidence to back your claim?

curvilicious:
Stable u say? What happen to #1/$1?

Has it ever been sold for $1/#1 since you have been born?


You believe in miracle i guess.

Zi:
Reading the first twenty comments, few things I have observed:

1. The reality is gradually sinking in now and Nigerians have started accepting this rate (N380 - N400)
2. We have finally gotten adjusted to this new rate. Nobody is cussing or wailing any more
3. Dollar can never go back to where it was before Buhari took over. (N190 - N210 per dollar)

Finally, WE HAVE BEEN SCAMMED BY APC PROPAGANDA, BIG TIME!!!

Some dead brain commenting on Nairaland, Dollar was between #265 and #285 before Buhari take over power and crude oil was around #80 per barrel then..



Maybe those are the kind of lies you guys share in your wailing wailers meeting..

chrischina:
How much where dollar when Gudluk was there, Apc will never no peace

And how much was crude oil Price when GEJ was there and still dilapidated our reserve..

GEJ and PDP will never know peace.

As stable as buhari?

Stable ke? 1GBP is nearly 500 naira. See me sending 30 pounds to my cousin the other day and it seemed like I balling because of the exchange rate

African Economics, Just make the price of dollar equal to Naira while common commodities in the market price remain the same.
it doesn't matter, as long as the naira is competing with the dollar on paper, then fcvxk everyother thing

9jakohai:
I am not as optimistic as you are.

We really need oil to be as high as 100 USD before we can get optimistic. $50 isn't enough

on the contrary I don't want oil to be more than $65, this is because our government will be lazy at a rate like $100 as experienced in the past. All we need are good managers to achieve greatness even at $50 by exploiting other sectors thereby diversifying

APCmyheart:
Some dead brain commenting on Nairaland, Dollar was between #265 and #285 before Buhari take over power and crude oil was around #80 per barrel then..

Maybe those are the kind of lies you guys share in your wailing wailers meeting..

Did you by your comment mean that I am dead brain? No need responding to you though. Hehehe.
Oh, wait, I observed your moniker and your responses to other commenters.
So immediately PMB took over，power oil prices started failing like London Bridge?
I know you have been programmed by your pay masters to haul insults on default. Lemme hide my head abeg

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Balkan:
Afonja hypocrite. Your treachery has no second part. We know how much you people want the President dead, so that you will have Osibanjo as president. Look at what you are wishing your president. But you pretend everyday as if you are happy he is still alive. God help you people

Who collect your bone bingo?

HAH:
Good one, hoarders keep losing.

As long as we sell oil at above $40 per barrel this CBN policy is sustainable and for those saying CBN is wasting dollar they should know that Nigeria earns in dollars while salaries and others are paid in naira as such they need to sell the earn dollars to get naira for government, furthermore despite the regular injection our reserves too has increased.

Personally I believe the equilibrium price of dollars should be N250 in order to also encourage exporters while making life less harsh for the populace that depend on imported goods thereby reducing inflation

Are you high on something that is contraband?

You keep repeating this nonsense and I've had enough of it.

What are the market fundamentals that support your N250 postulation, and don't you know the exporters (like the investors repatriating their funds) are asking for N400+?

This intervention is only viable at above $50pb not $40 as you claim. Every time it has dipped below $50 (http://www.opec.org/opec_web/en/data_graphs/40.htm), the last time in march and recent one of last week, the reserve actually depleted.

Stop making a nuisance on a public forum.

When we told the CBN to float the naira that it's the #1 requirement for foreign investment to roll in, they said no, in the end they floated a segment of the market. Now look at the immediate effect, $600m in 3 weeks and the stock market had it's best rally since 2014 (added N740 billion last week). That's the benefit of only making a floating window.

What would have happened if they floated the entire market and held their guts?

I'm not in a mood to debate economics, but for the love of whatever you worship, please stop sharing untrue information like your life depends on it.

-Lord