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Nairaland Forum / Nairaland / General / Business / Why Naira Is Appreciating And How Long It May Last (36572 Views)
Why The Naira Is Appreciating Against The Dollar / Why Naira Depreciated By 23% In 4 Days — Currency Dealers, Analysts / Why Naira Will Continue To Appreciate (2) (3) (4)
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Why Naira Is Appreciating And How Long It May Last by femisplash: 10:51am On Dec 06 |
The naira has seen steady appreciation since the Eurobond sales and the introduction of the Electronic Foreign Exchange Matching System (EFEMS) on Monday.https://businessday.ng/news/article/why-naira-is-appreciating-and-how-long-it-may-last/?amp 19 Likes 1 Share
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Re: Why Naira Is Appreciating And How Long It May Last by femisplash: 11:00am On Dec 06 |
EFEMS is the joker... Cardoso Solution. CBN had failed several times to regulate informal platforms, unofficial markets were pushing back, BDC was a parallel authority, dictating prices at speculative rates, Banks were sitting ontop undeclared dollar windfalls, thus greatly frustrating CBN efforts, all regulations and guidelines appeared to be failing. At last, CBN is beating them at their own game by creating a platform whereby all key operators are brought together and every single transaction is transparent and traceable, real time transactions at market-driven prices, automatic pairing of buyers and sellers, efficiently handling high volume of trades, data-driven algorithm, reduces manual intervention, standardized transaction sizes, a level playing field with markert predictability and stability and enhancing regulatory compliance. 95 Likes 9 Shares |
Re: Why Naira Is Appreciating And How Long It May Last by commoditiesnig: 11:29am On Dec 06 |
Goodnews for the Naira. 53 Likes 2 Shares |
Re: Why Naira Is Appreciating And How Long It May Last by ganilas007: 11:29am On Dec 06 |
It can only get better. God bless federal Republic of Nigeria 🇳🇬❤️ 42 Likes |
Re: Why Naira Is Appreciating And How Long It May Last by Wealthoptulent(m): 11:29am On Dec 06 |
within a pile TIME the TIME can be compared with duration of a MAN whom wify left with TIME in BED reasons (NOT LASTING inBED) femisplash: |
Re: Why Naira Is Appreciating And How Long It May Last by medropoly(m): 11:30am On Dec 06 |
If only its appreciation will reflects on the price of food, transport and commodities in reality. THEN IT IS AS USELESS AS TPAIN 38 Likes 2 Shares |
Re: Why Naira Is Appreciating And How Long It May Last by aylagos(m): 11:30am On Dec 06 |
How much today I need dollar |
Re: Why Naira Is Appreciating And How Long It May Last by richmond500: 11:31am On Dec 06 |
I have noticed it for 10days now, it has been on a steady appreciation I hope Cardosso is not using one kind of voodo economics 85 Likes 3 Shares |
Re: Why Naira Is Appreciating And How Long It May Last by Hardebayo(m): 11:31am On Dec 06 |
Okay |
Re: Why Naira Is Appreciating And How Long It May Last by Ombre(m): 11:31am On Dec 06 |
Re: Why Naira Is Appreciating And How Long It May Last by diamond68: 11:32am On Dec 06 |
Hmm 1 Like |
Re: Why Naira Is Appreciating And How Long It May Last by Nazgul: 11:32am On Dec 06 |
It's still on N1,606. The appreciation isn't massive. Question is how sustainable is this appreciation? Something similar happened some months back. It even appreciated to 1k to $1. Then crashed after some weeks. 47 Likes 2 Shares |
Re: Why Naira Is Appreciating And How Long It May Last by just2endowed: 11:32am On Dec 06 |
its normal. during december there seems to be significant inflow of dollars from abroad and every family will want to send money home to theior love ones. the inflow should stop by january. 84 Likes 5 Shares |
Re: Why Naira Is Appreciating And How Long It May Last by Kpartners: 11:33am On Dec 06 |
Let's see how far they can go If it can be $1- #1,000 and remain stable for the next couple of years, it will be good 7 Likes 1 Share |
Re: Why Naira Is Appreciating And How Long It May Last by sofeo(m): 11:33am On Dec 06 |
Only for the main term |
Re: Why Naira Is Appreciating And How Long It May Last by kelvindj98: 11:33am On Dec 06 |
Which one is why is naira appreciating. Una no want make e appreciate? When e dey depreciate una no ask question, Una just dey abuse Tinubu. Some of u Nigerians sef. U want bad things to keep happening so u can come here and be shouting Balablu, T-pain etc. 21 Likes |
Re: Why Naira Is Appreciating And How Long It May Last by dominique(f): 11:34am On Dec 06 |
I hope it continues to gain steadily and not drop again 15 Likes 1 Share |
Re: Why Naira Is Appreciating And How Long It May Last by oluayebenz: 11:34am On Dec 06 |
aylagos: 1550... How many do you want? Let's deal 4 Likes |
Re: Why Naira Is Appreciating And How Long It May Last by lexy2014: 11:35am On Dec 06 |
femisplash: Is Binance no longer the problem?. At what price did this administration meet dollar? 40 Likes 4 Shares |
Re: Why Naira Is Appreciating And How Long It May Last by Odjirigho: 11:35am On Dec 06 |
Loveee |
Re: Why Naira Is Appreciating And How Long It May Last by PressMyButton: 11:37am On Dec 06 |
just2endowed:dey play.. There're more dollars inflows with euro bond and more FPI. 57 Likes 1 Share |
Re: Why Naira Is Appreciating And How Long It May Last by Bizaustine: 11:38am On Dec 06 |
Let it go down to a sensible rate. 1 Like |
Re: Why Naira Is Appreciating And How Long It May Last by kelvindj98: 11:38am On Dec 06 |
Now to answer your question. The CBN has introduced a new currency trading platform where all banks and currency dealers trade the dollar and naira. This new platform is much more transparent and well regulated and it reduces hoarding of dollars. This combined with more dollars available in the country due to inflows from abroad is responsible for the drop in dollars. 13 Likes 1 Share |
Re: Why Naira Is Appreciating And How Long It May Last by oluayebenz: 11:38am On Dec 06 |
PressMyButton: Don't mind them All of them hoarding fx go cry 9 Likes |
Re: Why Naira Is Appreciating And How Long It May Last by wellmax(m): 11:39am On Dec 06 |
Gradually this will get better. Rates are dropping and i see Nigerians abroad sending money before it drops further, this will also led to further drops in rates. Kudos to Cardosso. God bless Nigeria. 10 Likes 2 Shares |
Re: Why Naira Is Appreciating And How Long It May Last by Kukutente23: 11:39am On Dec 06 |
Let us remember that APC took naira from 180 to 700 in 8 years, and then 700 to 1700 in 1 year before they start gaslighting 54 Likes 4 Shares |
Re: Why Naira Is Appreciating And How Long It May Last by jmoore(m): 11:39am On Dec 06 |
We have seen it before. Whenever CBN cabals want to buy dollars at very low price, they start their voodoo economics. Naira will depreciate again and the cabals will sell those dollars to get profit. 19 Likes 1 Share |
Re: Why Naira Is Appreciating And How Long It May Last by chrisxxx(m): 11:40am On Dec 06 |
Christmas. Diaspora sending dollars home. 2 Likes |
Re: Why Naira Is Appreciating And How Long It May Last by GreaterFuture(m): 11:40am On Dec 06 |
This doesn't seem like enough reasons... 4 Likes |
Re: Why Naira Is Appreciating And How Long It May Last by just2endowed: 11:40am On Dec 06 |
PressMyButton: Analysts have projected that this appreciation will likely remain till early next year. while cbn is saying otherwise, i analyze that the inflow will slow down from january., 3 Likes |
Re: Why Naira Is Appreciating And How Long It May Last by PDPdestroyer(m): 11:41am On Dec 06 |
Some people will be very sad with this development 1 Like 1 Share |
Re: Why Naira Is Appreciating And How Long It May Last by MrEverest(m): 11:41am On Dec 06 |
Try and luck Kalo kalo people. Later, it will still jump to 1800 to $1. Tinubu and his Yoruba government has failed miserably. Meanwhile, this normally happens over the years. During Christmas, there is always heavy remittance inflow thus crashing dollar rates. I even refused to buy dollar because I’m waiting for December. But these confused fellows are busy saying trash. 27 Likes 2 Shares |
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