The above title is a result of the current happenings with regard to the naira. 

In February this year, when the Naira crashed to an all-time high in it's history, exchanging at N1900 to a dollar and even approaching N2000 to a dollar at the black market, Nigerians were screaming, shouting, and telling Tinubu that his economic policies were hurting the Naira. The defense put up by Tinubu, the CBN governor, their supporters, Bulaban, Agbadorians, and minions was that the naira was finding its true value. Though the naira has regained strength, they have now turned around to accuse other Nigerians of being happy when the naira crashed. What a confused set of humans, I must say. 

They also said that the rate of N1900 to a dollar wasn't the true value of the naira. That the naira was going to crash more to reach its true value.
In fact, in the words of the CBN governor, Mr. Cardoso, the naira was undervalued at the rate it was exchanging. It was going to crash more.

They accused Emefiele of so many things, one of which was that he was illegally using our foreign exchange reserves to defend the naira to arrive at below N760 to a dollar it was exchanging at the black market during his time as CBN governor.

Today, the naira has regained strength from N1900 it was exchanging in February to between N1070 and N1120 for a dollar. With efforts being made for the naira to regain more strength

So, I ask again, what's the true value of the naira? 

Modified

There are economic formulae used to approximate this, especially based on the money supply in the economy. cbn is selling to bdc at between 1100-1200 based on their internal approximate calculation on the current value of the naira

True value or "Fair value" of naira is at rate CBN is able to add to the foreign reverse and defend the Naira at the same time without borrowing to do so.

Alot of expact have put that at 900 Naira to a dollar.

Emefile was borrowing money to subsidize the Naira and keep it at an artificial rate. Hence, we don't know how bad the economy has gone.


CBN are the one in control of 80% of the foreign reverse inflow into the country so they will have to intervene in the market from time to time.

sholatech:
There are economic formulae used to approximate this, especially based on the money supply in the economy. cbn is selling to bdc at between 1100-1200 based on their internal approximate calculation on the current value of the naira

So as it stands, the naira is yet to find its true value.

But when it crashed to an all-time high of N1900 to a dollar, we were told by the people in government that it was going to crash more to reach its true value. So what is happening now that it has regained strength?

The true value of naira to a dollar should be around #700 according to Wale Edun mid last year. Add one to two, it shouldn't be more than #900 to a dollar.

sholatech:
There are economic formulae used to approximate this, especially based on the money supply in the economy. cbn is selling to bdc at between 1100-1200 based on their internal approximate calculation on the current value of the naira

Does this mean the true value is nt a constant

Iamgrey5:
True value of naira is at rate CBN is able to add to the foreign reverse and defend the Naira at the same time without borrowing to do so.

Alot of expact have put that at 900 Naira to a dollar.

Emefile was borrowing money to subsidize the Naira and keep it at an artificial rate. Hence, we don't know how bad the economy has gone.


CBN are the one in control of 80% of the foreign reverse inflow into the country so they will have to intervene in the market from time to time.

In trying to intervene, are they not going to use our reserves? 

Recently, it was confirmed that our reserve was depleted by $1.2 billion in eighteen days.

Ofunaofu:


In trying to intervene, are they not going to use our reserves? 

Recently, it was confirmed that our reserve was depleted by $1.2 billion in eighteen days.

The 1.2bn is a result of the settlement they made to some companies. Those settlement were outstanding since Emefile period.

CBN are now receiving the dollars from the sales of our crude oil directly and crude is still where we earn 65% of foreign currencies. So CBN will have to intervene to protect the Naira from time to time with the money.

Iamgrey5:
The 1.2bn is a result of the settlement they made to some companies. Those settlement were outstanding since Emefile period.

CBN are now receiving the dollars from the sales of our crude oil directly and crude is still where we earn 65% of foreign currencies. So CBN will have to intervene to protect the Naira from time to time with the money.

Good

But why vilify Emefiele for this same interventions

Stark illiterate:

You don't even know what it means by the line: "Naira is undervalued".

I stopped reading at that.

Bloodykiller.,..go back to school.

Ofunaofu:


Good

But why vilify Emefiele for this same interventions

Emefile was subsidizing the Naira.

Selling it at value that is considered lower than the fair value and he was borrowing heavily to do so.

English is the problem.

Emefiele was subsidizing while cardoso is intervening .

What have we started producing that we were not producing.

They have about 30 cargos awaiting for buyers yet the naira is rising , non oil export has not risen significantly. I really would like to know what the commercial banker is doing differently from his predecessors

Either there is something going on or something was going on but has stopped

Ofunaofu:


So as it stands, the naira is yet to find its true value.

But when it crashed to an all-time high of N1900 to a dollar, we were told by the people in government that it was going to crash more to reach its true value. So what is happening now that it has regained strength? 

Please show us a source where you got this from

Hoelujohn:

Please show us a source where you got this from

The source that Naira crashed to N1900 to a dollar or what?

Please what do you think is the meaning of undervalued?

NSNO:
Please what do you think is the meaning of undervalued?

I don't know. I am here to learn

you cant have a single price for valuation of naira. As long as there are buying and selling of goods and services and in foreign transactions in dollars/naira, just as it is in the fx market, where we buy and sell pairs at a particular rates, so it is what they are trying to do now. It has to flunctuate, slightly higher, or lower from time to time. When majority of accumulated debts servicing and unremitted outflows are settled, expect more crash of dollars.
All those high pushes were results of speculators and manipulators using mind games to work on many people thinking and knowinly how nigerians minds are attached to dollars.
I use binance alot for crypto dealings, and fx transactions and i trade forex everyday on platforms, so i know all those stuffs are artificially created.
During the all time high, the same suggestions i was telling people how to control the artificial up surge is what is happening now. I told them, binance is number 1 culprit, and those doing that, are majorly not nigerians or not staying in nigeria. They just manipulate their adverts to give artificial rates, and create news around it each day to go viral using influencers, then it spreads and then create the artificial prices that everyone including the abokis use. At their artificial prices, order for dollars. they wont sell for you. they will cancel the deals, then place new advert for higher price again the next day. Rinse and repeat daily. They smile to the banks, and nigerians suffer.

All those that want Nigeria to fail, fall or scatter or thinking or saying evil about Nigeria because their candidate lost the election, they will never know peace, affliction and tribulations will never depart from their lives.

Fiat money generally don't have value

Ofunaofu:
The above title is a result of the current happenings with regard to the naira. 

In February this year, when the Naira crashed to an all-time high in it's history, exchanging at N1900 to a dollar and even approaching N2000 to a dollar at the black market, Nigerians were screaming, shouting, and telling Tinubu that his economic policies were hurting the Naira. The defense put up by Tinubu, the CBN governor, their supporters, Bulaban, Agbadorians, and minions was that the naira was finding its true value. Though the naira has regained strength, they have now turned around to accuse other Nigerians of being happy when the naira crashed. What a confused set of humans, I must say. 

They also said that the rate of N1900 to a dollar wasn't the true value of the naira. That the naira was going to crash more to reach its true value.
In fact, in the words of the CBN governor, Mr. Cardoso, the naira was undervalued at the rate it was exchanging. It was going to crash more.

They accused Emefiele of so many things, one of which was that he was illegally using our foreign exchange reserves to defend the naira to arrive at below N760 to a dollar it was exchanging at the black market during his time as CBN governor.

Today, the naira has regained strength from N1900 it was exchanging in February to between N1070 and N1120 for a dollar. With efforts being made for the naira to regain more strength

So, I ask again, what's the true value of the naira? 

Modified

We need to understand our nation economy blueprint authored by Tinubu economy team.

The true value of Naira targeted by Tinubu is one that will support productivity for over 200 million population and a robust consumer economy for our nation in a journey to achieving $1trillion Economy by 2026.

Now that the CBN has taken a robust hold of the monetary policy and the fiscal side is also firming up by Finanace Ministry, they'll drive the true value to what will make us achive the above.

Ofunaofu:


So as it stands, the naira is yet to find its true value.

But when it crashed to an all-time high of N1900 to a dollar, we were told by the people in government that it was going to crash more to reach its true value. So what is happening now that it has regained strength? 

Can you show us where they said that?

predictor1:
Can you show us where they said that?

I don't understand

Ofunaofu:


I don't understand

Show us where they told you that at #1900 to a dollar the naira would crash further.

predictor1:
Show us where they told you that at #1900 to a dollar the naira would crash further.

It's obvious you lack the capacity to comprehend simple and precise english.

Ofunaofu:


Good

But why vilify Emefiele for this same interventions

Is there a NGN300+ gap between the official market and the black market today

Has the rate ever been lesser at the black market than the official market

There lies the answer to your question

crestedaguiyi:
English is the problem.

Emefiele was subsidizing while cardoso is intervening .

What have we started producing that we were not producing.

They have about 30 cargos awaiting for buyers yet the naira is rising , non oil export has not risen significantly. I really would like to know what the commercial banker is doing differently from his predecessors

Either there is something going on or something was going on but has stopped

Is there a NGN300+ gap between the official market and the black market

Has the rate ever been lesser at the black market than the official market

Ofunaofu:


It's obvious you lack the capacity to comprehend simple and precise english. 

So you can not show us where you saw the authorities say naira would crash further when it was at #1900. Your hatred for Nigeria and the president will kill you sooner than you think.

Ofunaofu:


It's obvious you lack the capacity to comprehend simple and precise english. 

It's obvious you're an educated illiterate, undervalue means the value of the naira is too low and it will eventually go up, no sensible human will say naira will crash even further at 1900.

Hoelujohn:

Please show us a source where you got this from

He can't show you where he got it from. He is cursed.

Georgry:



It's obvious you're an educated illiterate, undervalue means the value of the naira is too low and it will eventually go up, no sensible human will say naira will crash even further at 1900.

He is an illiterate. No doubt. He got beaten on another thread and ran to open this one.

Georgry:



It's obvious you're an educated illiterate, undervalue means the value of the naira is too low and it will eventually go up, no sensible human will say naira will crash even further at 1900.

What about this