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Naira Now Undervalued After Float, Bank Of America Says by dre11(m): 7:15am On Jun 30, 2023 |
The Nigerian naira has moved from being overvalued to undervalued following the government’s long-awaited foreign exchange reform, analysts at US-based Bank of America said in… The Nigerian naira has moved from being overvalued to undervalued following the government’s long-awaited foreign exchange reform, analysts at US-based Bank of America said in a June 28 note to clients as reported by Businessday. https://dailytrust.com/naira-now-undervalued-after-float-bank-of-america-says/ 23 Likes 6 Shares
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Re: Naira Now Undervalued After Float, Bank Of America Says by Bidema: 7:17am On Jun 30, 2023 |
Guys please when last did your country monitored American economy. That's what you get when you depend on people for your daily bread 146 Likes 16 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by JasonScoolari: 7:18am On Jun 30, 2023 |
This is just the beginning.... First thing tomorrow, hike in Electricity Tariff will hit everyone hard. Sad thing is that one Kwara Polytechnic Nd2 dropout, living in the suburbs of Ilorin as a part-time agbero, with a heavily padded Itel A2 as his major property and traits of mental disorder will come here to abuse Obidients and everyone who speaks against Tinubu and his tax killing government.. 483 Likes 57 Shares
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Re: Naira Now Undervalued After Float, Bank Of America Says by VenExchangee: 7:18am On Jun 30, 2023 |
Una never see you anything. 22 Likes 6 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by jumper524(m): 7:24am On Jun 30, 2023 |
If unethical caution is not taken, these Americans would still devalue our naira and blame it on some economic factor. 28 Likes 3 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by SmartPolician: 7:29am On Jun 30, 2023 |
Those who forecast that naira will gain over the dollar as mere speculators. Exchange rate doesn't require prayer and fasting. You must be willing to put in the work for naira to gain over foreign currencies. Sadly, Bola Tinubu is busy gallivanting all over the South West instead of taking steps to kick off projects that will increase Nigeria's FX earnings like harnessing Nigeria's gas reserves, meeting OPEC's crude oil export for Nigeria, and increasing Nigeria's cash crops for export. Does he even know the level of hardship he has caused for floating the naira and removing PMS subsidy? 186 Likes 17 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by caesymore(m): 7:32am On Jun 30, 2023 |
Boom Dig_it!!! And that's how things will be when your only plan is to Hit the ground running without direction. Another Clueless folk at the helm of affairs' 59 Likes 4 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by chidiokay: 7:35am On Jun 30, 2023 |
Bidema: Seems you have not being following Peter OBi campaign, ... all that stats he quotes does it belong to Nig. 17 Likes 2 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by jmoore(m): 7:37am On Jun 30, 2023 |
The analysts are obviously myopic. Nigeria is an importing country, therefore expecting a dollar to be 650 naira next year won't happen. Tens of billions of dollars from crude oil revenue is not enough to meet the demand of forex. 64 Likes 6 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by Parachoco: 7:38am On Jun 30, 2023 |
Naira will be between #550-#650 before the end year 9 Likes 2 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by Parachoco: 7:39am On Jun 30, 2023 |
jmoore:The way some of una dey always talk eh All the Financial experts/institutions wey don talk say the Naira go stable at 600+ are wrong, nah only you right What a 🤡 78 Likes 7 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by Soccrates: 7:40am On Jun 30, 2023 |
Nairaland ekuke economic analysts will soon flood this thread. 16 Likes 1 Share |
Re: Naira Now Undervalued After Float, Bank Of America Says by JasonScoolari: 7:42am On Jun 30, 2023 |
chidiokay:Wetin bring Peter Obi come this matter? Is he the reason why the Naira is undervalued? Is he the reason fuel is now N520 per litre and will be N700 per litre in the North? Is he the reason why 5 seed of tomatoes is now N350? Is he the reason you entered trailer from Kaduna to Ilorin to celebrate Salah? Is he the reason there will be increase in electricity tariff as from tomorrow? Is he the reason students at Federal Universities will start paying double of their fees? 169 Likes 20 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by jmoore(m): 7:42am On Jun 30, 2023 |
Parachoco: Your Tinubu said "na statistics we go chop". Go and lecture Tinubu on the importance of statistics before you put eyes for my matter. 113 Likes 10 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by koxyz: 7:43am On Jun 30, 2023 |
The supply side is not beign attended to.I dont know how the appreciation will occur. 9 Likes |
Re: Naira Now Undervalued After Float, Bank Of America Says by emmabest2000(m): 7:43am On Jun 30, 2023 |
China with strong economy and powerful leader has been dreaming of bringing down the exchange rate of USD for two decades by all means but ..... RMB to USD 2003 to 2005 100usd - 820rmb 2006 to 2009 100usd - 810rmb 2010 to 2012 100usd - 780rmb From 2013 till 2022 the lowest was 100usd - 640rmb Currently the price now is around 100usd - 710rmb Believe me if it is that easy China would have force down the exchange rate to 100usd = 100rmb But for Naira 2003 100usd 13,000naira 2023 100usd 70,000naira 26 Likes 4 Shares
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Re: Naira Now Undervalued After Float, Bank Of America Says by Jbleenk: 7:43am On Jun 30, 2023 |
The west especially USA have always held us in the throat forcing us to devalue our currency since time immemorial. Pls let the poor breath. 6 Likes |
Re: Naira Now Undervalued After Float, Bank Of America Says by Chloraseptic: 7:44am On Jun 30, 2023 |
Somebody said he would continue Buhari legacy and zombies want him to be better than Buhari. Is that not stupidity.. The man is busy dishing out new policies just after assumption of office in a bid to come off as proactive president without properly thinking it through.. It's kinda like a coach who uses all his subs in first half without without thinking about how the game might turn out in the second half. 73 Likes 7 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by blaise26abj(m): 7:45am On Jun 30, 2023 |
Okay we don hear, USA . If only you can pump tens of billions to us ,after your unsolicited analysis, the way you are giving Ukraine money for a useless war wey no concern Una , we for appreciate the analysis. Since you can’t , you can shove it up your arse 4 Likes |
Re: Naira Now Undervalued After Float, Bank Of America Says by chidiokay: 7:48am On Jun 30, 2023 |
JasonScoolari: Even tho AEDC have denounce the hike officially, lets even assume the Hike in price happens tomorrow how is that Tinubu fault or got to do with FG On several occasion Discos have alway increase rate subtlely those using prepaid can relate the only difference these time is they decided to do it openly. What ever Nigeria is going through right now is eminent, there is no way anybody can fix Nigeria without "pain effect". There is nothing peter obi can do, except he continues on the steps of GEJ, Buhari no other road is smooth 16 Likes 1 Share |
Re: Naira Now Undervalued After Float, Bank Of America Says by JasonScoolari: 7:49am On Jun 30, 2023 |
chidiokay:Translate this in Hausa please. 34 Likes |
Re: Naira Now Undervalued After Float, Bank Of America Says by Racoon(m): 7:50am On Jun 30, 2023 |
The floating of the naira was a disastrous policy given the inflation and forex scarcity. Meanwhile, minimum wage is nothing to write home about. Nigeria are always carried away by frenzy of emotions. 21 Likes |
Re: Naira Now Undervalued After Float, Bank Of America Says by DeLaRue: 7:51am On Jun 30, 2023 |
Bidema: It's laughable. Every hour, Nigerians are monitoring Naira/USD rate even when they don't do any international trade. Tailors, office workers, landlords, teachers, market men and women etc are discussing dollar rate every day. Every time the value goes up by any amount, people's blood pressure rises enmass. My sister has no business with the dollar, but anytime she calls, she will ask if I know that dollar is so and so The slavish obsession with the dollar is contributing to making more people wanting to buy it, therefore destroying the naira. People are just 'doing themselves '. We are not Americans. Dollar is not our currency. Why are we obsessed with this currency. I don't think there's any country in the world where whole swathes of the population have deified another country 's currency. 17 Likes |
Re: Naira Now Undervalued After Float, Bank Of America Says by chidiokay: 7:52am On Jun 30, 2023 |
7 Likes 2 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by JasonScoolari: 7:53am On Jun 30, 2023 |
chidiokay:Enjoy your pain effect. 34 Likes 2 Shares
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Re: Naira Now Undervalued After Float, Bank Of America Says by chidiokay: 7:59am On Jun 30, 2023 |
JasonScoolari: Even you relocated to Mars ... your family will enjoy the pain effects 7 Likes |
Re: Naira Now Undervalued After Float, Bank Of America Says by GeneralDae: 8:02am On Jun 30, 2023 |
jmoore:We actually export more than we import. 2 Likes |
Re: Naira Now Undervalued After Float, Bank Of America Says by GeneralDae: 8:02am On Jun 30, 2023 |
Parachoco:Sure thing. 3 Likes |
Re: Naira Now Undervalued After Float, Bank Of America Says by GeneralDae: 8:03am On Jun 30, 2023 |
koxyz:How do you know it's not being attended to? 2 Likes |
Re: Naira Now Undervalued After Float, Bank Of America Says by GeneralDae: 8:05am On Jun 30, 2023 |
chidiokay:No oo. Peter Obi would have performed magic. 3 Likes 1 Share |
Re: Naira Now Undervalued After Float, Bank Of America Says by DeLaRue: 8:07am On Jun 30, 2023 |
Racoon: The government should continue to spend more than $5 billion a year to subsid⁶ise an artificial naira value of N460? And another $9 billion to subsidise petrol. And also subsidise many other sectors of the economy. Mostly with borrowed money. Are you a baby that government must subsidise every aspect of your life. Are people in Togo, Republic of Benin, Ghana etc not surviving without ruinous subsidies. You want the country to go bankrupt like Sri Lanka, Argentina, Lebanon etc If the country goes bankrupt, naira will go to about N2,500 (or more) to a dollar. I guess your subsidy eye will clear then. Anyway, the naira is not on a complete free float. The current market price is closer to its real value that N460 was. Government will support the naira if it falls too hard. It will eventually find its natural level, and that level is likely to be under N700 for some time. 12 Likes 2 Shares |
Re: Naira Now Undervalued After Float, Bank Of America Says by femisplash: 8:10am On Jun 30, 2023 |
JasonScoolari:98% of our revenue goes into debt servicing, if Tinubu was not bold to remove subsidy and float the naira to curb fx round-tripping, in 5yrs, you may have to be sold to an Arab master for 50,000naira to feed your family. These pained losers should try and be reasonable (eventhough it's lacking in their faculty) than wailing brainlessly all the time. 11 Likes 3 Shares |
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