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Nairaland Forum / Nairaland / General / Business / The Dollar Has Crashed To N1,390 On Binance After FG BAN (4894 Views)
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The Dollar Has Crashed To N1,390 On Binance After FG BAN by Melezenawii: 9:16pm On Feb 21 |
The dollar has crashed to N1,390 on Binance after FG BAN 4 Likes 2 Shares
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Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by metaluterus(f): 9:16pm On Feb 21 |
I wish 3 Likes 1 Share |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Godoverevery: 9:16pm On Feb 21 |
serious prayer against enemy within 5 Likes |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by StarRida: 9:21pm On Feb 21 |
Let's see what tomorrow brings because I strongly want the betterment of Nigeria but with this people in power nanananah I don't see that coming 2 Likes |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by CilicMarin: 9:21pm On Feb 21 |
True, 2 hours ago, it was 1630 averagely.. 3 Likes
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Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by makemoneywbsite: 9:25pm On Feb 21 |
If you know how to read charts, you'd know what happened is called a dip. It will find a base at an equilibrium that balances those betting for the naira (government) and those for dollar (market speculators). What you should ask yourself is "How many people are willing to support the naira at this price through production and earning the dollar? And how many people are hungry for the dollar to escape impending naira crash and to do business (politicians, the rich and importers). As long as the underlying causes are not tackled, it's merely an entry point for speculators because many deep pockets will gain positions at this point only to cash out when it goes right up. That dip is a mere consolidation phase. In fact, this dip fools no one but shows desperation and market action based on fundamental factors. A real recovery happens slowly. What you see on that chart is just an opportunity for the rich to make more money off further impending naira crash. It's primary economics. If you don't produce and export, it's hopeless hoping. 46 Likes 6 Shares |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Kenneth4u205(m): 9:25pm On Feb 21 |
It just crashed to 1$= 1 naira on binance few minutes ago 16 Likes |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Righthussle: 9:27pm On Feb 21 |
Good one FG, Bag of rice is now 50k. 5 Likes 1 Share |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by nairalanda1(m): 9:28pm On Feb 21 |
makemoneywbsite: Exactly. Produce or forget about it. 3 Likes |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by keymatt(m): 9:31pm On Feb 21 |
Agbado economics. 🤣🤣🤣 Are you agbadorians now depending on Binance for the Naira to gain value wonders shall never end! if you don't produce and export to gain more dollars, how will your naira gain value after buhari's 8 worthless years Nigeria is in for a hard time, no thanks to your white powder govt's trial and error bulabu economics. Tinubu is good at barking. He's completely empty in the head. Infact, the only thing Tinubu is good at is politics of treachery and deceit. He knows nothing about economics. At this point, anything other than production and export for Nigeria is as good as nothing. Tell that to your drug lord. 29 Likes 2 Shares |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by budaatum: 9:34pm On Feb 21 |
Just now! https://dailytrust.com/forex-crisis-were-working-with-fg-to-block-dollar-naira-exchange-binance/ 1 Like
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Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Paraman: 9:35pm On Feb 21 |
Some economy saboteurs will be busy buying the dip right now 😡 it might still shoot up before 12am 11 Likes 1 Share |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Tunechi5(m): 9:35pm On Feb 21 |
Lol I hope it's for good this time 1 Like
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Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by CilicMarin: 9:36pm On Feb 21 |
Paraman: They have blocked the website....MTN in particular. 6 Likes 3 Shares |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by LegendHero(m): 9:39pm On Feb 21 |
Nigeria market have never respected the law of demand and supply. Not for dollar/naira, not for food, not even for cement. Some people just sit somewhere, finish eating eba, sweat hard, then speculate, and say today, we will sell for this amount. 16 Likes 3 Shares |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by bigpriik: 9:39pm On Feb 21 |
Kenneth4u205:imagination kee u. |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by budaatum: 9:42pm On Feb 21 |
Binance accused of manipulating Nigerian Naira as ‘glitch’ impacts P2P traders https://cryptoslate.com/binance-accused-of-manipulating-nigerian-naira-as-glitch-impacts-p2p-traders/ 1 Like
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Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Gajagojo: 9:44pm On Feb 21 |
makemoneywbsite:If reading chart is that important everyone would learn how to read charts and become unbelievably rich. Reality is all that chart reading carp is no better than going tons babalawo. Not relevant in the real world 4 Likes |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by shortgun(m): 9:48pm On Feb 21 |
Gajagojo:Kindly crawl back to your cave Thank you 13 Likes |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Gajagojo: 9:51pm On Feb 21 |
shortgun:You feel small and want to lash out to manage your ego No vex Chart reading is no different from palm. reading With a lot of "experts" and gullible disciples If it had any substance to it everyone would do it 6 Likes |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by makemoneywbsite: 9:53pm On Feb 21 |
Gajagojo: Wrong. Not everyone can read charts. Even those that can may not have the state of mind to risk money. Some of the richest people on earth read stock market charts and invested. Even those that can't read them employ people who can, otherwise you won't have trillion dollar stock brokerage industry. 10 Likes 2 Shares |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by yarimo(m): 9:55pm On Feb 21 |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by eteebanky1: 9:58pm On Feb 21 |
LegendHero: You're on point Thank God for this ban Binance really took control of the naira 6 Likes 2 Shares |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Zxcvbnmghtr: 10:02pm On Feb 21 |
makemoneywbsite: May Almighty God bless you. Do you see the bolded in your comment. That's the solution. But Nigerians are not ready, we want short cut to success. When Naira was so strong in the 70s and 80s there was local production every where. It's simple economics. God bless you once again 7 Likes |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by PEACE2023: 10:02pm On Feb 21 |
makemoneywbsite:You just posted copy copy western economic theory. Non sense 3 Likes |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by PEACE2023: 10:04pm On Feb 21 |
nairalanda1:This is not true. Stop believing IMF western economic theory. Just as western democracy is not working in Nigeria so is there western economic theory. 1 Like |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Gajagojo: 10:04pm On Feb 21 |
makemoneywbsite:Guy tell me one billionaire that made his money reading charts The Lionel Messi of chart reading We'are talking about human behaviour that is irrational,often corrupt criminal and unpredictable. Charts work In classrooms 4 Likes |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Zxcvbnmghtr: 10:05pm On Feb 21 |
PEACE2023: So tell us the solution. 2 Likes |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by 1x2x3: 10:05pm On Feb 21 |
eteebanky1: The people who took control of Naira are your Bank MDs and Politicians. CBN will release millions of dollars to the banks and when you go to bank the next day you won't find any. Who are they selling it to? 1 Like |
Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by Yorubafonja: 10:45pm On Feb 21 |
N5000 to $1 is ok 1 Like
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Re: The Dollar Has Crashed To N1,390 On Binance After FG BAN by jumper524(m): 10:45pm On Feb 21 |
Zxcvbnmghtr:are you trying to tell me that our importation has almost trippled in the last 3 months when we know subsidy removal has reduced our petrol importation by over 20% The major consumer of our forex? 3 Likes |
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