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Nairaland Forum / Nairaland / General / Food / Naira To Sell At N415/$ As CBN Sustains Intervention (25767 Views)
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Naira To Sell At N415/$ As CBN Sustains Intervention by straneur(m): 4:00pm On Mar 21, 2017 |
The naira will trade at N415 to a dollar as the series of intervention by the Central Bank of Nigeria are sustained. http://investorsking.com/naira-sell-n415-cbn-sustains-intervention-abcon/ 1 Like 1 Share |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by femi4: 4:07pm On Mar 21, 2017 |
Good move...no joy yet until it gets to N250 44 Likes 1 Share |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by Dottore: 4:08pm On Mar 21, 2017 |
Make I go sell my dollar. I'm already at 11naira loss 28 Likes 1 Share |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by smartty68(m): 4:08pm On Mar 21, 2017 |
Lol! Speculators will be rushing to sell their dollars. Keep on the fight CBN. 39 Likes 2 Shares |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by LordBaelish: 4:08pm On Mar 21, 2017 |
I'm neither for or against. If it goes down I'll focus on imports, if otherwise, I'll just focus on earning more dollars. Buh, wait oo.. this money they're pumping hope say e no go finish? Make we know oo before hoarders FC come finish us for second leg. 35 Likes 2 Shares |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by eminikansoso(m): 4:08pm On Mar 21, 2017 |
The best solution is when we have excess supply of dollar over its demand. 4 Likes 2 Shares |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by blowedfish: 4:08pm On Mar 21, 2017 |
I hope this intervention is sustained. 12 Likes |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by femolii: 4:08pm On Mar 21, 2017 |
ok oo |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by 9japrof(m): 4:08pm On Mar 21, 2017 |
I pray the exchange rate comes down to what it used to be before or something less self, Buh the truth still remains that what ever they are doing now is a cosmetic approach that can't be sustained for a long time. Economies are not being built using this template. I don't know why successsive governments have not been able to solve Nigeria's oldest parochial problem which is power generation and effective transmission and distribution. Solve Nigeria's energy needs, you have solved 50% of our needs, solve it and see a lot of things fall into place 4 Likes |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by boardmem(m): 4:08pm On Mar 21, 2017 |
It is well with Nigeria Naira! 4 Likes 1 Share |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by Sunbassen(m): 4:08pm On Mar 21, 2017 |
That's fine! |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by Vicboi1(m): 4:09pm On Mar 21, 2017 |
wow |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by AUSVINS(m): 4:09pm On Mar 21, 2017 |
OK,small small we go reach there. 2 Likes |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by helinues: 4:09pm On Mar 21, 2017 |
good news |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by Obeseke: 4:09pm On Mar 21, 2017 |
Let the downward free flow continue. Don't speculate too 1 Like |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by NotNairalandi(m): 4:09pm On Mar 21, 2017 |
who is fooling who POST NO BILL 1 Like |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by alabosian(m): 4:09pm On Mar 21, 2017 |
mtcheeeeeew this one na news? #1/$1 na wetin we want b dat 3 Likes |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by Dammyomatic(m): 4:10pm On Mar 21, 2017 |
3MMT9V3 BOOKED |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by mangala14(m): 4:10pm On Mar 21, 2017 |
Not good enough 1 Like |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by latest90: 4:10pm On Mar 21, 2017 |
Great. |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by naijacentric(m): 4:10pm On Mar 21, 2017 |
the cabals don calm down ni hoarding don tire dem ni 1 Like |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by Benekruku(m): 4:10pm On Mar 21, 2017 |
God bless His Excellence, President Mohammadu Buhari (GCFR) God bless The Federal Republic of Nigeria 18 Likes 2 Shares |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by Nusaf: 4:11pm On Mar 21, 2017 |
God bless The President and C-in-C Long live Fed Rep of Nigeria. Meanwhile, someone said if the Naira crash upon the return of His Excellency, the blame should fall on him, the question now is; who should take the credit for this appreciation? 13 Likes 2 Shares |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by Nobody: 4:11pm On Mar 21, 2017 |
Dottore: Wait small, e go soon reach 550. Una never see chunchin. 24 Likes 1 Share |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by emmyw(m): 4:11pm On Mar 21, 2017 |
Ok 1 Like |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by isbish(m): 4:11pm On Mar 21, 2017 |
Make I go sale my own |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by seguno2: 4:11pm On Mar 21, 2017 |
AUSVINS: Thanks to the rising price of crude oil. Not groundnut oil oh. 1 Like |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by ogapatapata24: 4:11pm On Mar 21, 2017 |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by martineverest(m): 4:11pm On Mar 21, 2017 |
femi4:it will never be possoble....CBN wont even do it. 300 will be ok,so as to protect/encourage local manufacturers/producers.. This upshoot of dollar is a blessing in disguise 3 Likes 2 Shares |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by smartty68(m): 4:11pm On Mar 21, 2017 |
Hoarders please continue hoarding your dollars 2 Likes |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by 989900: 4:12pm On Mar 21, 2017 |
N405 @ Ikeja right now. N400 @ Ibadan. Time for speculators and hoarders to count their gains and losses and move on, or remain adamant and lose all. Once black market merges with close to Western union, trust me, we are headed for N320 to a dollar in few weeks at the minimum! I wrote the below some weeks back. 1. Oil is no longer our largest source of Forex inflow since 2015, rather remittances from diaspora @ $35b in 2016, which was between 3-4 times more than Forex from oil in 2016 (and that is not even taking into account the ones brought in physically and unaccounted for)!! Nigeria is the 3rd largest recipient of Forex remittances from overseas in the world! Diaspora remittances practically supports the Philippines Forex market. 2. Inflows from FDIs are no longer what they used to be . . . those have fallen by over 50% at around $4b in 2016 . . . not basically a situation peculiar to Nigeria thing, nor PDP vs APC thing, though we could have done better. VERDICT: Our issues largely complicated by a chronically ill Naira was largely fueled by either complicity or incompetence or both, by our policy makers. You don't have to be a genius to realize that the large discrepancies between exchange rates created by whack policies got us here. It ensured people no longer send money anymore via Western union and e.t.c (which would have come in through the CBN and filtered into the system), rather, they do directly to their dorm accounts and other means where they hoard and speculate on the Naira creating artificial scarcity. Going forward, after the 'technical devaluation' to N375 to a dollar for hospital, school and other bills, the best policy would be to continue to support the Naira until western union and other remittance platforms rates merges with parallel market or within N5-N10 of the parallel market say in the next few weeks, thereby encouraging inflows coming in thru the CBN and speculators dumping their 'stash', which would further help the Naira appreciate considerably to around N350 or less, even with less inputs from 'petro-dollars'. On the longer term, we pray our 'wild wild south-south' brothers would relax small about this bombing things, so that we can have more power supply which would help reduce our Forex consumption for refined fuel imports, while the CBN and FG intensifies efforts on reducing our over $4b per annum demand on rice imports and other food imports, hoping we can do something in the steel sector to reduce the billions of dollars we waste in importing those every year too. As we pray for Dangote and other new refineries coming up to deliver. 45 Likes 3 Shares |
Re: Naira To Sell At N415/$ As CBN Sustains Intervention by bettercreature(m): 4:12pm On Mar 21, 2017 |
femi4:Lol its going to be difficult to see a currency that appreciates higher than central bank rate |
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