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Nairaland Forum / Nairaland / General / Business / US Dollar to Nigerian Naira Speculators Are Getting Hurt (1655 Views)
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US Dollar to Nigerian Naira Speculators Are Getting Hurt by muhammaduyusufu: 6:53pm On Apr 13 |
I saw some post on social media as per the increasing value of Naira and decided to share. Posts like this are going to be rampant. 2 Likes 1 Share
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Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by helinues: 7:03pm On Apr 13 |
Serves right. They are betting against their country currency as they never pray for the Naira to rise again. 15 Likes 2 Shares |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by Enugurangers: 7:07pm On Apr 13 |
They played a game and lost. I hope they are still keeping that dollars close to their chest. They were warned, but they would rather listen to someone like Rufai Oseni who has only a Animal Physiology degree from an Agricultural university than listen to economics experts. 12 Likes 1 Share |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by StOla: 7:08pm On Apr 13 |
Nice analogy but obviously a fable as the profit anticipated at an exchange rate of N2000 is not worth the effort. As dem dey keep the dollars close to their chest, their BP dey rise. 5 Likes |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by SeeWahala: 7:08pm On Apr 13 |
People who met it at N700 opened a thread to jubilate that they have successfully taken it to N1,000 Only on nairaland 4 Likes |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by helinues: 7:09pm On Apr 13 |
StOla: 1 million profits at N2000 is not bad 11 Likes |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by StOla: 7:10pm On Apr 13 |
SeeWahala: Na where dem meet am matter, or where they don't have to deplete our forex reserves to defend the Naira at an artificial rate? 7 Likes |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by Enugurangers: 7:10pm On Apr 13 |
StOla:Some were actually thinking it would go as high as 4k. They were misled. 12 Likes
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Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by Enugurangers: 7:12pm On Apr 13 |
SeeWahala:Convergence between the official rate and black market rate is an achievement. A big one at that. 13 Likes 1 Share |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by ayoolataiwo(m): 7:14pm On Apr 13 |
Shame to the agent of doom 8 Likes |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by StOla: 7:14pm On Apr 13 |
Enugurangers: Hahahaha! I pity those who listened to the anarchists and began their own stockpiling late with exchange rate above N1500. They are shedding premium tears now. Currency speculators now speculating on their losses. 2 Likes |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by StOla: 7:16pm On Apr 13 |
helinues: You will risk N18m just to make N2m profit and still pay an interest of N1m? So, beneficial profit of only N1m? |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by SeeWahala: 7:18pm On Apr 13 |
They will always be explaining how 'dollar is going here, naira is going there' . . . YET their family members who went to market today came back crying about how garri has added N1,000 within the past 7 days in all the stores But hey Nigerians reserves are growing political looters over to you . . . |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by helinues: 7:19pm On Apr 13 |
StOla: The person might have been tempting when the dollar rose to N1000. Some doom predictors even predicted N4000 11 Likes |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by SeeWahala: 7:21pm On Apr 13 |
See a BLIND Nigerian nairalander (according to Mata-Wale) jomarick: Sad 3 Likes |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by Enugurangers: 7:22pm On Apr 13 |
StOla:Someone I know even bought at 1800 thinking it would keep going higher, and all he had to do was wait and sell. Luckily for him, he was able to dump it at 1300, cut his losses and run. If he had waited abit more, his loss would have been greater. 2 Likes 1 Share |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by SeeWahala: 7:27pm On Apr 13 |
Today Newspaper Headline 'Dollar is going down, Naira is coming up' Tilumbu: Govano, Really? CardiZonB: YessAh! Tomorrows Newspaper Headline BOOM! Nepa 'Quadruples' Epileptic Electricity Tariff Nigerians groan . . . Agbad0's run to nairaland to explain in threads |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by nedu666: 7:29pm On Apr 13 |
You mean govs and other top thieving politicians are hurt. Dey play |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by SeeWahala: 7:30pm On Apr 13 |
It's all about the Reserves y'all . . . You |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by Ofunaofu: 7:33pm On Apr 13 |
SeeWahala: That's the tragedy of it all |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by wirinet(m): 7:43pm On Apr 13 |
helinues:There is nothing wrong with currency trading/speculation. It part of normal business like any other business. The problem is that our economy and thus the Naira is not that sophisticated, and so is not traded both physically abroad or digitally in the currency market. I trade Euro against the dollar, Pounds against the dollar and the dollar against the Japanese Yen on the currency market. I uses to trade USDT against the naira when it was available on the binance spot market. |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by SeeWahala: 7:44pm On Apr 13 |
Even to stumble upon a single FUNCTIONING public water supply system in any city in nigeria as at today after APC 9 years of misrule rule . . . Yet they are mocking a privately donated community borehole water supply emphasis on the word COMMUNITY |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by wirinet(m): 7:48pm On Apr 13 |
Enugurangers:Most Nigerians have no idea of currency trading. They buy and sell based on emotions and not on Technical or fundamental analysis. I bought naira at about N1600 to the dollar and quickly before it fell beyond N1500. |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by SeeWahala: 7:48pm On Apr 13 |
Tilumbu scorecard as at April 2024 Increase dollar ✅️ Reduce it SMALL back ✅️ PUMP the HARDSHIP ✅️ ✅️ ✅️ Eye-Neck Score 💯 olodos should go to COURT |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by SeeWahala: 7:50pm On Apr 13 |
That is what this thread is all about Something to pat themselves on the back about Characters |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by Wainey: 7:53pm On Apr 13 |
Enugurangers:Agriculturists are actually great economists. An agricultural science BSc holder is on par or better than BEcons. Those people studied practical economics and also has a course called Agric Economics, extension and rural development. |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by Basic123: 8:29pm On Apr 13 |
SeeWahala:Privately donated By a thieving former governor?? From Anambra stolen fund 😆 ? You people actually think others are fools! 2 Likes 1 Share
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Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by adekolaelect(m): 8:35pm On Apr 13 |
SeeWahala:But you were celebrating when it was high? 1 Like |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by SeeWahala: 8:39pm On Apr 13 |
adekolaelect: It's still high Wake me up when you guys have brought it back to N700 |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by SeeWahala: 8:41pm On Apr 13 |
Basic123: Why are you describing tilumbu for us? Did we tell you we don't know how to recognise thieves before? |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by PlayerMeji: 9:01pm On Apr 13 |
So as much as they have informed you that every month for the past decades the Nigerian government has been paying a subsidy of not less than 3 billion dollars to keep the dollar at the figure it has been but now the subsidy has been removed for the naira to perform on its own. And it is performing excellently on its own, then you mean to say that is not worth celebrating... SeeWahala: |
Re: US Dollar to Nigerian Naira Speculators Are Getting Hurt by SeeWahala: 9:13pm On Apr 13 |
PlayerMeji: Fuel N700 (forget diesel, gas, kero etc) Foodstuffs price increasing per the hour Insecurity worsening Nepa bill Quadrupled yet no light Corruption unchecked Etc Etc YET Current value of DOLLAR is our HAPPINESS as common citizens in nigeria? 🤔
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