SmartyPants:


Lol. Bro, sincerely you are a foolish person.

I only explained some basics to you. I have no idea why you're attacking me - would you attack your economics teacher in school because you don't like the president? Lol.

Hahaha. I know a typical agbado warrior typing from under ogbomosho bridge when I see one.

Not all of you are of the same class and mental level. At least I've had useful debates with legend.hero and others that don't even reside in Nigeria.

It is usually the local supporters that talk nonsense they cannot defend. Then add street talk to seem smart and go further to like their comments with their own monikers.

Again, why would I change my USD to invest in Naira when I know that the Naira is unstable? Answer simply. If you don't know just say you don't know. 😄

Ofunaofu:
Tinubu's first year anniversary abracadabra

You really understood what happened 😁😁😁

Paraman:
How can you boldly ask this IQ reducing question

Last week the MPR was raised again and a lot of other steps that is taking by the FG, but you're here asking base on what exactly

So, you're more informed than those who wrote the article and noted that the naira appreciation is not based on any fundamentals?

FYI, the recent MPR increase hasn't yielded any result so far as there's no new FDI as a result of it nor is there any recent action by the govt that has resulted in increased forex inflow into the country.

Anything for the Anniversary

Peejayz:
abeg which platform is this

Grey co

NothingDoMe:
Hahaha. I know a typical agbado warrior typing from under ogbomosho bridge when I see one.

Not all of you are of the same class and mental level. At least I've had useful debates with legend.hero and others that don't even reside in Nigeria.

It is usually the local supporters that talk nonsense they cannot defend. Then add street talk to seem smart and go further to like their comments with their own monikers.

Again, why would I change my USD to invest in Naira when I know that the Naira is unstable? Answer simply. If you don't know just say you don't know. 😄

Lol. You think and behave like a toddler. Why are you telling me all these stories?

What I've shared with you is objective economics - this is how it works from London to Lagos to New York to Tokyo. You can google it you know? And the answer to your question is also staring you in the face.

If the MPR is so high that it outpaces dollar inflation, do investors make a profit or not? Use your brain bro.

Parydelegate:
Click LIKE if you are happy with this news 😀 😊
Click SHARE if you feel otherwise 😔 😟


Sell those dollars now...

not happy bro, I trade bitcoin so you know what I mean

Mikuni:
This is a lie

dollar still 1400 this afternoon

Trustyourself:



Do you have access to official rate

You meant 'OFFICIAL RATE'

I'm just coming back from Zone 4, Wuse
#1480 as at 8am-9:30 in the morning, it was around 11am that the change occur. Some exchange for #1430 which i blv is the minimum while other exchange for #1450

Mumu lies…something wy I still buy 1625 today

SmartyPants:


Lol. You think and behave like a toddler. Why are you telling me all these stories?

What I've shared with you is objective economics - this is how it works from London to Lagos to New York to Tokyo. You can google it you know? And the answer to your question is also staring you in the face.

If the MPR is so high that it outpaces dollar inflation, do investors make a profit or not? Use your brain bro.

When has London Economics worked in Nigeria?

Asking me to "Google" tells me you're not an investor. You probably don't even know what a $100 bill looks like except you check Google.

I guess you meant "Naira devalution" not "Dollar Inflation". The point of raising the MPR to attract foreign investors is simply for the investors to bring in their FX, change it to Naira, and invest in the Economy.

Now if I bring in $100, change to N150k @ the rate of N1,500 and invest. If Naira devalues to N1,600 within a month, I would have lost a certain percentage on my invested funds. Naira has recently devalued faster than the MPR.

Yes. Foreign investors don't invest their FX and take Naira returns back to their country. They take their capital/profits in FX. An unstable currency is bad for busines.

I actually feel sympathetic that I have to explain all of this to you. Even if you want to defend the government you can at least do some research. The fact that you're not an investor is not an excuse.

Paraman:
700/$ before the end of July

Amen in Jesus name

Wetin concern me with Naira, I dey wait make my tap swap and hamster combat make Dem boost, I swear I leave this country,in case you want to know where I dey migrate, is no secret na cape Verde I dey go

NothingDoMe:
When has London Economics worked in Nigeria?

Asking me to "Google" tells me you're not an investor. You probably don't even know what a $100 bill looks like except you check Google.

I guess you meant "Naira devalution" not "Dollar Inflation". The point of raising the MPR to attract foreign investors is simply for the investors to bring in their FX, change it to Naira, and invest in the Economy.

Now if I bring in $100, change to N150k @ the rate of N1,500 and invest. If Naira devalues to N1,600 within a month, I would have lost a certain percentage on my invested funds. Naira has recently devalued faster than the MPR.

Yes. Foreign investors don't invest their FX and take Naira returns back to their country. They take their capital/profits in FX. An unstable currency is bad for busines.

I actually feel sympathetic that I have to explain all of this to you. Even if you want to defend the government you can at least do some research. The fact that you're not an investor is not an excuse.

I don't know if some of you just come to Nairaland to argue as if your life depends on it.

You just mentioned that if you invest at 1500 and naira shifts to 1600, you have lost a certain percentage. Now, I've told you that these are not ordinary investors. These are people who invest in financial instruments. Don't you understand??

That means they earn a fixed interest rate at the same level or higher than the MPR. So if you invested at 1500, your profit is say 27%. If naira devalues to 1600, you lose about 7%. Now your profit is 27% minus 7% in this situation, so 20%.

I want to believe this makes it clear to you. Bye!

Nairalanders no dey read...official rate and black market rate ain't the same

Paraman:
700/$ before the end of July

With the coming of Dangote refinery producing Premium Motor Spirit and 50% of our FX spending follows suit. It may come down more than 700 Naira

;DDrram bigger

Paraman:
700/$ before the end of July

E pain me...
I loose money

SmartyPants:


I don't know if some of you just come to Nairaland to argue as if your life depends on it.

You just mentioned that if you invest at 1500 and naira shifts to 1600, you have lost a certain percentage. Now, I've told you that these are not ordinary investors. These are people who invest in financial instruments. Don't you understand??

That means they earn a fixed interest rate at the same level or higher than the MPR. So if you invested at 1500, your profit is say 27%. If naira devalues to 1600, you lose about 7%. Now your profit is 27% minus 7% in this situation, so 20%.

I want to believe this makes it clear to you. Bye!

No! Lmao. The interest rate on financial instruments like bonds or mutual funds are per annum!

As at April 2024, treasury bills was approximately 21% interest rate per annum. To get the approximate monthly rate you need to divide by 12 which gives 1.75%. Or you can see the attachment I've provided for a more accurate calculation.

I'll soon start charging you for this free financial advice you are enjoying.

NothingDoMe:
No! Lmao. The interest rate on financial instruments like bonds or mutual funds are per annum!

As at April 2024, treasury bills was approximately 21% interest rate per annum. To get the approximate monthly rate you need to divide by 12 which gives 1.75%. Or you can see the attachment I've provided for a more accurate calculation.

I'll soon start charging you for this free financial advice you are enjoying.

Who said anything about monthly interest? How do you read all that and come up with monthly interest? You are definitely not okay. Obviously been a total waste of my time trying to explain a single thing to you.

SmartyPants:


Who said anything about monthly interest? How do you read all that and come up with monthly interest? You are definitely not okay. Obviously been a total waste of my time trying to explain a single thing to you.

Here 👇

Now if I bring in $100, change to N150k @ the rate of N1,500 and invest. If Naira devalues to N1,600 within a month, I would have lost a certain percentage on my invested funds. Naira has recently devalued faster than the MPR.

If the Naira devalued annually at less than the MPR then yes the MPR would give you value for your money as a foreign investor.

You can wake up tomorrow and the Naira has lost 20% of its value within 24hrs. So this scares investors that would have otherwise invested because of the increased MPR.

ryloy:


https://guardian.ng/news/naira-strengthens-to-n1173-at-official-market/

Some donkeys would start ranting now

Paraman:
You shouldn't be asking this kind of question. Anybody can now get dollar at the official rate except the people who want to hoard.

If you need the dollar for you to hoard, go and buy from Aboki at 1450/$

Can you be sincere with yourself and tell us where the ordinary citizens can source dollar at the CBN rate?

Paraman:
You shouldn't be asking this kind of question. Anybody can now get dollar at the official rate except the people who want to hoard.

If you need the dollar for you to hoard, go and buy from Aboki at 1450/$

Trustyourself:


Can you be sincere with yourself and tell us where the ordinary citizens can source dollar at the CBN rate?

hahaha


Finally the chicken came home to roost.

So you can open your mouth gbwaaa and say that 'if you want to hoard go and meet aboki'. I thought the congregation of fools were touting lies that the two rates are close to full convergence. Not anymore huh?

Yea when official rate was 470 we were buying from aboki at 700, just like now that it is around 1200 and we're buying from aboki at around 1450. Only problem is we got so much worse off in such a short time for no good reason other than the congregation of fools and their accursed president that has ruined things for every body, both the innocent and the guilty.

Enjoy your regression..lol🤣🤣🤣🤣

Treadway:
hahaha


Finally the chicken came home to roost.

So you can open your mouth gbwaaa and say that 'if you want to board go and meet aboki'. I thought the congregation of fools were touting lies that the two rates are close to full convergence. Not anymore huh?

Yea when official rate was 470 we were buying from aboki at 700, just like now that it is around 1200 and we're buying from aboki at around 1450. Only problem is we got so much worse off in such a short time for good reason other than the congregation of fools and their accursed president that has ruined things for every body, both the innocent and the guilty.

Enjoy your regression..lol🤣🤣🤣🤣

K

SpecialAdviser:
Before evening you will hear a different story
. Just wait

Ebukamatth:
It took a million lives to build this country called Nigeria

But It took one stupid fool to destroy everything in one year

What have you achieved compared to Tinubu in your life or anyone in your entire family .. you go soon enter market

.

They've started this abracadabra exchange rate again, the one they did last time saw Naira crashing against Dollar after initial gains. The actual exchange rate today is still around 1$/N1,450. Stop believing these APC lies.

Trustyourself:


Can you be sincere with yourself and tell us where the ordinary citizens can source dollar at the CBN rate?

If you're a business man, you won't be asking this question

Paraman:
If you're a business man, you won't be asking this question

You the business man, can you help us answer the simple question??