₦airaland Forum

DICKstractor:


Is that the $1 to N1 that we were promised?

One chance

lowkeybahdguy:
Are you kambili, the girl with beautiful long legs Chimamanda spoke of in purple hibiscus?

lowkeybadguy

That's what you hear in the media, go to aboki BDC and be told #460. Story story story

daddytime:
Good girl.

daddytime

/
Dollar has been weak against other currencies for months now. Yet naira depreciated. It is expected that VIX may flip soon sending equities into a tailspin and carry unwind. Nigeria does not have the financial firepower to defend naira against downward spiral. I am betting against naira LONGTERM. I expect atleast N500:$1.

/

Wash wash

So if one has dollars now is it advisable to sell it?

kambili999:
lowkeybadguy

Kambili999

donPhill:
sell it to Righteousness89

.



Ok o

InvertedHammer:
/
Dollar has been weak against other currencies for months now. Yet naira depreciated. It is expected that VIX may flip soon sending equities into a tailspin and carry unwind. Nigeria does not have the financial firepower to defend naira against downward spiral. I am betting against naira LONGTERM. I expect atleast N500:$1.

/

Same here. Long term loss is only going to hurt the economy more. Why CBN persists on this path is what I don't understand. Same happened during the final years of the Jonathan government

teewhydope:
must you cast everything

Why not

Greenbuoy:
Ògún laa pa gbogbo yin!!

Asee!!

lowkeybahdguy:
Same here. Long term loss is only going to hurt the economy more. Why CBN persists on this path is what I don't understand. Same happened during the final years of the Jonathan government

/
Actually this is the only solution since Nigerian economy appears more fictitious than real. One factor (oil price) usually controls the whole economy. Other uncommon and unstainable source is taxation through extortion like the infamous stamp duty, bank charges, rent charges, etc. Venezuela comes to mind.

/

sonnie10:
I guess BDC is different from black market (aka Mallam). Those people will sell (price) according to demand and supply.

They are the same...

ptoall1000:
So if one has dollars now is it advisable to sell it?

That's what am just contemplating....

Bbbwings:
Why not

doesn't matter tho. BDC re never going to sell for 389 anyway. greedy mongers

At the end of Buhari tenure, 1USD will equal N1. Bunch of demonic leaders parading in human flesh. No Nigerian leader both dead and alive will ever have peace

InvertedHammer:
/
Actually this is the only solution since Nigerian economy appears more fictitious than real. One factor (oil price) usually controls the whole economy. Other uncommon and unstainable source is taxation through extortion like the infamous stamp duty, bank charges, rent charges, etc. Venezuela comes to mind.

/

I beg to disagree because eventually the CBN is going to run out of steam (or cash). don't forget Nigeria's foreign reserves have been terribly depleted partly due to the CBN bids to prop up the naira.

the economy needs to be diversified. yes. but fiscal policy should be the go between right now. this CBN policy is invertly ramping up demand for the dollar and speculators are waiting in the shadows to make a killing. talking from experience.

teewhydope:
doesn't matter tho. BDC re never going to sell for 389 anyway. greedy mongers

because 389 is not reflective of the market's true position. it's a prop.

CBN and dollar matter are like 5&6
Guys

adonainana:
Round tripping Form M boys wa gbayi

Change naira to dollars at BDC for 386 go to black market to the dollars to naira back at 470

With bitcoin at 478 oh boy making money go seeet no be small

Baba, this price change will affect price of Bitcoin. All your crypto will be devalued when converted to naira. If you have dollar investments or crypto, just count your losses.

ptoall1000:
So if one has dollars now is it advisable to sell it?

immediately.

ptoall1000:
So if one has dollars now is it advisable to sell it?

immediately. Then buy back at the new price for more profit.

This is wickedness of the highest order. After purchasing infinix hot 8 for 45k on Tuesday. I need to sell it as Soon as possible.

ptoall1000:
So if one has dollars now is it advisable to sell it?

Hold on to your dollar as the only sustainable way for naira to appreciate is for more forex inflows from increases in oil revenues, remittances, foreign investment, sizeable IMF emergency loans, etc.

As a substantial increase in forex inflows is not forthcoming, the CBN's diktats won't change anything in the long run.

softset:
Will they make dollars available for those make purchases online.

At the moment, many Nigerians that have businesses online, how will this positively impact them.

Waiting for experts to comment

Availability of dollar in the economy will crash the exchange rate, that is common sense..

DICKstractor:


Is that the $1 to N1 that we were promised?

U must be jobless to have believed dia motivationals.

Greenbuoy:
Ògún laa pa gbogbo yin!!

Lmao Easy lion!

lowkeybahdguy:
I beg to disagree because eventually the CBN is going to run out of steam (or cash). don't forget Nigeria's foreign reserves have been terribly depleted partly due to the CBN bids to prop up the naira.

the economy needs to be diversified. yes. but fiscal policy should be the go between right now. this CBN policy is invertly ramping up demand for the dollar and speculators are waiting in the shadows to make a killing. talking from experience.

/
Fiscal policy must have some basic foundations. Nigeria has no such foundation-- FGN offers no support to businesses within her domain instead they are stiffling them. Don't forget that what they have is theoritical economy (mostly textbook based) with data that is in variance with the reality on ground.
/

..

Mtcheeeew, see them after eating your cake you still want to have it