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Nairaland Forum / Nairaland / General / Politics / Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma (4317 Views)
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Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by Ibrahimcoomasie: 10:22pm On Feb 28 |
Haha. |
Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by aribisala0(m): 10:31pm On Feb 28 |
OfficialAPCNig:. How is that relevant Is it every country that has a national grid.. Does the USA have a National Grid? Until you get Biafra Aba power generation will be counted under Nigeria 1 Like |
Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by Sulele04(m): 10:37pm On Feb 28 |
aribisala0:You are wrong Kalu Aja said that the reason for the high exchange rate is because Nigeria is producing & selling less than 2.3mbpd. & a change in that will cause will cause a drastic fall of the dollar. |
Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by aribisala0(m): 10:48pm On Feb 28 |
Sulele04:I am wrong about what specifically? And this is because Kalu Aja said so? Look there.are so many factors at play not one but crucial is corruption and Mismanagement. Buhari borrows unprecedented amounts of money which is a bit burden to our Forex bearings We are spending a lot on imported.fuel The CBN printed and released trillions of Naira Even when politicians steal money they don't want to keep it in Nigeria So with those factors the Naira cannot have much value We were not selling 2.3 mbpd 12 months ago so why was the dollar under 800? The reality is we have printed trillions of Naira without any basis and that has consequences 1 Like |
Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by OfficialAPCNig: 11:36pm On Feb 28 |
aribisala0: Did I say floating has anything to do with reserves? I said you need a strong reserve to float your FX rate, if not it'll experience insane volatility. aribisala0:Don't claim you don't know what I meant by strong reserve. aribisala0:Dollar is not strong because of any "confidence." It's strong because the currency is stable. aribisala0:Does this make sense to you? I am trying to make sense off what you meant by "steal reserves of their own countries with So called strong reserves and take them to countries where they have confidence" aribisala0:Nobody argues this. aribisala0:😂😂😂 Just listen to yourself. I want you to explain how lack of confidence in a country will empty the reserve. Again, I would love you define what you meant by "confidence" because you have been overusing it. aribisala0:Equilibrium is a myth. So, relax that. aribisala0: This where you have started making sense. Since we are not producing enough, that's why we don't need to float your FX rate. It makes you toovulnerable to external shocks. aribisala0:The issue is reserve. Again, there is no direct correlation between "confidence in an economy" and "demand for dollar." The relationship doesn't exist. aribisala0:Our FX crisis is because Tinubu woke up and floated the dollar without planning for the expected volatility. 1 Like |
Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by aribisala0(m): 11:52pm On Feb 28 |
OfficialAPCNig:Yes you did and are repeating it by saying there is a function between reserves and volatility. few banks if any can pay all its customers if they turn up at the same to withdraw their money To that extent no reserves are enough if everyone wants to exit . That is what is happening to the CBN and its Naira . It printed too much and All its customers are turning up on the same day All those so called reserves are liabilities for the counterpart party. The US cannot pay if all those who hold reserves in dollars turn up at the same time . It can print more dollars and Very quickly the dollar will turn to sand. It is the same for every currency unless the currency is backed by gold. You alone know what you mean by strong reserves Besides that I do not have the time not inclination to engage in repetitive, egotistical and unproductive back and forth . I have said everything I need to say 1 Like |
Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by StarRida: 11:59pm On Feb 28 |
Zxcvbnmghtr:why bringing Canada on this discussion this APC supporters naw for una ooo 1 Like |
Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by pquaver(m): 12:01am On Feb 29 |
SoNature: Can u tell us 1 leader in Nigeria that left dollar better than he met it? Because on this same forum u celebrate GEJ everyday without accepting he failed so.. Tell us 1 Like |
Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by leokid866: 1:22am On Feb 29 |
SoNature:lol for your mind that was the true value of your currency 🤣🤣🤣....you were all living large on government excesses and thought it was your right.....continue dey reason like small child.....what do you think the Naira float was all about? Or you mean to tell me it was Nigerians love for dollar that shot up so much in that last 9 months that brought the price to 1500 for 1 dollar....the government just showed you all Nairas true value and instead of Nigerians to find solution they started speculation hoping it will reaches 2k......I know people that have cried in the last two days 🤣🤣🤣 1 Like 1 Share |
Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by Ibrahimcoomasie: 1:37am On Feb 29 |
And Naira keeps rising. Whatever they are doing, they should keep doing it. 1 Like
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Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by uba1991: 3:04am On Feb 29 |
Rising to what? 1500 per dollar is what you want us celebrate? Buhari left at 400 per dollar now the drug Barron has taking it to 2000 now is 1500 is that an achievement? |
Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by uba1991: 3:06am On Feb 29 |
leokid866:don't forget that Tinubu paid delegates in dollars which is one of the reasons we are where we are. |
Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by Kukutenla: 8:53am On Feb 29 |
A thread of Zombies writing rubbish to defend the incompetence of their god Your god knew all these yet he promised to bring dollar down to N300 in the short term? These Zombies lack common sense. One idiot is saying govt is showing us the true value of naira So what is the true value? Is it the parallel or official rate? Zombies!! |
Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by olasubomi2354: 9:21am On Feb 29 |
Nawa for una. You should know that Canadian Dollar is falling against the American Dollar and the Economy is biting seriously there.Nawa for una. You should know that Canadian Dollar is falling against the American Dollar and the Economy is biting seriously there.... |
Re: Dollar Is Falling, Naira Is Rising, And The People That Update Us Are In Coma by leokid866: 4:26pm On Feb 29 |
uba1991:yes Tinubu paying Delegates is dollar is the problem....wven at that time what was the rate? So because he paid someone dollars instantly means dollar should so rise 9 months later? Please try again..... |
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