One of the biggest causes of this unrealistic dollar increment aside from economic issues is 'speculation.' The USD market is now based on demand and supply, which makes it even more difficult to control. Everybody expects the dollar to hit 10k, and they hoard it like BTC 😂. Even if it falls today, the fall wouldn’t be realistic unless CBN makes some strategic moves.

Should I save in dollar ?
Yes and no.

It comes from two perspectives:

1) Staying ahead of inflation.
2) Taking advantage of the situation to make a profit (which is what almost everyone is doing, and that’s part of the problem).

The question is, what is your motive?

If you are trying to stay ahead of inflation, now isn’t the time to save in dollars to protect yourself from the Naira's fall; just hold onto whichever currency you have and keep drinking water. How bad can it get? You don’t have to go and buy at 1900/$ all in the name of saving in dollars; it's pointless to me, sha.

But if you are all about #2, then I would advise you to take the risk. Business and life are about risks. If you saved $2000 last week Monday, you would have probably gotten it at (1500/$). If you held onto the $2000 until yesterday, Wednesday (8 days), you would have gotten between (3.7M- 3.8M), over 800k in 8 days 😂💔. Logically, the 800k isn’t profit due to inflation, but then it’s better than any business or anything you could have done 😂. Either way, inflation would affect everything.

Imagine you now have over $20k... Big cash out, right?

Now, they say it is falling 😂.” Imagine I got $1k at (1900/$) today, all in the name of saving in dollars 😂, and it drops to ($1100/$) by tomorrow (which is not technically possible, but again, this is Nigeria). I believe you know the rest ..

Well , it’s another a good day to invest in an online business that pays in $$

kenniefawole:
One of the biggest causes of this unrealistic dollar increment aside from economic issues is 'speculation.' The USD market is now based on demand and supply, which makes it even more difficult to control. Everybody expects the dollar to hit 10k, and they hoard it like BTC 😂. Even if it falls today, the fall wouldn’t be realistic unless CBN makes some strategic moves.

Yes and no.

It comes from two perspectives:

1) Staying ahead of inflation.
2) Taking advantage of the situation to make a profit (which is what almost everyone is doing, and that’s part of the problem).

The question is, what is your motive?

If you are trying to stay ahead of inflation, now isn’t the time to save in dollars to protect yourself from the Naira's fall; just hold onto whichever currency you have and keep drinking water. How bad can it get? You don’t have to go and buy at 1900/$ all in the name of saving in dollars; it's pointless to me, sha.

But if you are all about #2, then I would advise you to take the risk. Business and life are about risks. If you saved $2000 last week Monday, you would have probably gotten it at (1500/$). If you held onto the $2000 until yesterday, Wednesday (8 days), you would have gotten between (3.7M- 3.8M), over 800k in 8 days 😂💔. Logically, the 800k isn’t profit due to inflation, but then it’s better than any business or anything you could have done 😂. Either way, inflation would affect everything.

Imagine you now have over $20k... Big cash out, right?

Now, they say it is falling 😂.” Imagine I got $1k at (1900/$) today, all in the name of saving in dollars 😂, and it drops to ($1100/$) by tomorrow (which is not technically possible, but again, this is Nigeria). I believe you know the rest ..

Well , it’s another a good day to invest in an online business that pays in $$

You are contradicting yourself.

SIMPLY SAY IT IS TOO LATE TO SAVE IN DOLLARS.




It should have been done since last year or 2019.

THIS DOLLARS MAY GET TO 2500.......
the options are being closed by the government.

blackpanthar:


You are contradicting yourself.

SIMPLY SAY IT IS TOO LATE TO SAVE IN DOLLARS.




It should have been done since last year or 2019.

THIS DOLLARS MAY GET TO 2500.......
the options are being closed by the government.

Lol , I knew what I was doing there . As a financial analyst, I was only weighing the two options and not really giving an advice … it’s more like choose whichever one you believe in
Do you get ?