StOla:


It is a gain from the last price.

I already advised those stocking up to offload.

Someone who met dollars at 750 in May. Never in my life did i think anybody would exceed Buhari's incompetence within 5 months.

DMerciful:
Voluntary slave!

You fought GEJ for $ selling at 200 but celebrating Tinubu for $ selling at 1,113

I keep saying it, the Yorubas are tribalists, they assault presidents from other regions using the media as a tool, but won't do the same to their tribesman

Olaolex:
I don't just know why, my blood just dey hot this afternoon. These people are very foolish. They keep celebrating nonsense. Every little thing, they hype. Small thing like this, they praise. Until we begin to hold our government responsible, nothing will change.

From Buhari they hyped so that TINIBU will take over, to now Tinibu , even some of them is saying after Tinubu , is Shettima,just to be fools thinking they are suffering Igbos ....

Our politicians have become bigger than the masses ,because they have succeded in breaking the bond of the masses.... lols

ArcSEMPECJ:


From Buhari they hyped so that TINIBU will take over, to now Tinibu , even some of them is saying after Tinubu , is Shettima,just to be fools thinking they are suffering Igbos ....

Our politicians have become bigger than the masses ,because they have succeded in breaking the bond of the masses.... lols

Imagine! How can some set of people be that daft? Suffering and smilling because their tribe man is holding unto power. What pains me most is that this man doesn't give a 4k about them.

Ikaeniyan0:
If this thread is about naira losing, IPOBdients would have use different accounts to wail on this thread.

Ooo. Reality hasn't reached this one.
Don't worry, just continue fooling yourself

AllDModsAreMaad:
LoL, joke as usual.

This one naira gains 166 today, it may gain further, let's say to 950 or so, but before December dollar will hit 1400 because the process they are using to slow down the free fall is not sustainable.

I am not wishing naira bad but it is what it is because the factors causing the free fall has not been checked or corrected, rather they are using money to shock it just to slow it down.

Very true buhari mortgaged nigeria's crude oil to borrow money which made nigeria to be using almost all current oil earnings to service debts now tinibu have come to also continue with that same policy of mortgaging nigeria's gas reserves to get urgent dollars to artificially shore up the naira.

Who are the people trading this naira, they are the one killing our economy

BadCuntry:
No matter how much the Naira appreciates against the dollar... one thing is sure: before Christmas the Naira will trade above 1300 against the $$$

You'd be disappointed on this. I'm not a fan of the apc as you know. Injection of a whopping 10bn usd into the economy, which had been approved means a lot...I mean a lot. If you have dollar, if you'd only listen, don't hesitate to sell so that, the little gains you've made won't disappear like a dew in the wind. I advised someone same way, when the dollar was hitting almost 1k under buhari administration but he didn't listen. By the time it crashed to 699 to a dollar, he lost everything. Now , he's japa to america when he couldn't cope. He's a member of this forum and I'm sure he's gonna read this post. It's a very risky adventure.

Don't join those saying naira would continue to fall as long as Nigeria keeps importing. That's a tale from the moonlight. There are a lot of advanced countries who import almost everything yet , they're prospering. In as much as export would boost our economy, export shortage not our major problem. Corruption and mismanagement of the economy by employing the wrong people are our problem. We weren't exporting as much as we're doing today when obj was in power yet, naira remained very strong throughout, even at a time when our crude sale and volume were very slow even lower than what we see today.

It's just like employing a bad teacher to teach your child , you don't need to be told of your ward's academic performance in the end.

Dottore:
Some will start thinking it's achievment and will start celebrating nonsense.
When will it come back at least the way it was before May 29 this year.

My dear this animals can't answer that

loswhite:
All the above mentioned did not start today. Lack of FX generator did not start in this administration. Politicians did not start to save in dollars today. It has been there for a long time. The question you refuse to answer is exactly what I was waiting for. How do aboki in the black market determine the exchange rate? If you have the answers I am sure you would have typed it here. A speculative market is not the true value of the naira.

If that is the answer you need, learn to ask questions properly next time.
The way you structured your question is wrong if that is the answer you seek.

Again, stocking money in dollars became rampant only recently, bribing delegates in dollars became rampant only recently.

That been said, they determine the same way you determine the prices of goods you or everyother seller want to sell.

Look at it this way, they buy from a seller and resell for a reason, and the reason is what "to make profit/gain"

They determine the price just the same way those handling petrol price in the black market determine theirs when their is scarcity of petrol in the country.

It is called a black market for a reason, since the government can't do their job of providing it, they use their own resources to source it and then provide it and normally you don't expect it not to come at a price.

Eriokanmi:
You'd be disappointed on this. I'm not a fan of the apc as you know. Injection of a whopping 10bn usd into the economy, which had been approved means a lot...I mean a lot. If you have dollar, if you'd only listen, don't hesitate to sell so that, the little gains you've made won't disappear like a dew in the wind. I advised someone same way, when the dollar was hitting almost 1k under buhari administration but he didn't listen. By the time it crashed to 699 to a dollar, he lost everything. Now , he's japa to america when he couldn't cope. He's a member of this forum and I'm sure he's gonna read this post. It's a very risky adventure.

Don't join those saying naira would continue to fall as long as Nigeria keeps importing. That's a tale from the moonlight. There are a lot of advanced countries who import almost everything yet , they're prospering. In as much as export would boost our economy, export shortage not our major problem. Corruption and mismanagement of the economy by employing the wrong people are our problem. We weren't exporting as much as we're doing today when obj was in power yet, naira remained very strong throughout, even at a time when our crude sale and volume were very slow even lower than what we see today.

It's just like employing a bad teacher to teach your child , you don't need to be told of your ward's academic performance in the end.

Be playing, the game plan is to inject that amount into the system and then use propaganda to tell those that is stocking it up to sell what they have.

Now, do you consider what will happen when people decide not to sell it off and some continue to stock it up until the one in the system reduce to the point of getting scarce, do you?

For your mind, that amount is too big for people to make it scarce abi, dey play...

Only if you know the quantity of businesses Nigerians do with dollar, you will know that amount will reduce asap once it becomes available in the market but the question is "is FX really available to make people not to make use of black market?"

I even want it to reduce, so that I can complete the projects I have at hand at the moment asap.

JOemmy:



Very true buhari mortgaged nigeria's crude oil to borrow money which made nigeria to be using almost all current oil earnings to service debts now tinibu have come to also continue with that same policy of mortgaging nigeria's gas reserves to get urgent dollars to artificially shore up the naira.

Don't mind them.

#1123 against $1 and u call this gain?

$500 PayPal Available.

Clean GNS Funds

Bring Your Certified Escrow.

Naira hasn't gained sh*t until we come back to N150 per dollar or lower sef.

AllDModsAreMaad:

Be playing, the game plan is to inject that amount into the system and then use propaganda to tell those that is stocking it up to sell what they have.

Now, do you consider what will happen when people decide not to sell it off and some continue to stock it up until the one in the system reduce to the point of getting scarce, do you?

For your mind, that amount is too big for people to make it scarce abi, dey play...

Only if you know the quantity of businesses Nigerians do with dollar, you will know that amount will reduce asap once it becomes available in the market but the question is "is FX really available to make people not to make use of black market?"

I even want it to reduce, so that I can complete the projects I have at hand at the moment asap.

This is a reality...based on what had happened before. I only advised. Tinubu refused to save the naira and that's why its so valueless. He also didn't allocate fx to clear the backlogs through the CBN.. Had dollars been injected into the economy like his predecessors had done, naira would have maintained its value but the moment he took office, he left the naira to fall freely without any measure put in place to rescue it. Every country also strengthens their currencies.


That 10bn won't land in individual pockets. It would make a huge impact. Banks would sort out those who have been on queues for fx to import, pay school fees, pay BTA/PTA, etc. When Banks sell fx, there would be less pressure on the black market and that would automatically bring down the dollar rate and strengthen the naira.

I understand Nigeria does huge business volume but not all of them are paid for, across the border. I don't pay fx through bank always. I engage some agents whom I'd pay in naira and they'd credit my suppliers accounts in foreign currencies( RMB, Eur or USD). This is what a lot of SMEs also do. What goes through the nigerian banks is meager, especially since fx had become so scarce.

FYI I'm an importer and am among those badly affected by his policy.

.

J

Ikaeniyan0:


https://nairametrics.com/2023/10/27/naira-gains-against-dollar-trades-at-n1113-at-the-p2p-market/?amp=1

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