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Nairaland Forum / Nairaland / General / Business / The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing (17640 Views)
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Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by senzmanto9(m): 7:02am On May 08, 2016 |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by ademoladeji(m): 7:03am On May 08, 2016 |
Una dey expect a very long jump in just 48hrs? Keep expecting miracle as if Buhari na Jesu 1 Like 1 Share |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by Nobody: 7:04am On May 08, 2016 |
macaranta:Yea, it's early actually, but when news like this hit the markets, as much as we are not supposed to see immediate fundamental results, there should certainly be a positive reaction from the market about this news, and that reaction could have at least come in form of 319 to a $1 and not 321 as we have it. Or maybe op got his facts wrong. 1 Like 1 Share |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by Abrahamtaylour: 7:05am On May 08, 2016 |
JBismarck:Lol... nawa for you oh |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by shevon: 7:07am On May 08, 2016 |
A budget that was signed when? How long did it take for NGN to slide from N218 to the present rate? 3 days? I keep saying this and I always will, I don't belong to any party but we Nigerians are the architect of our present predicament. We always want magicians as policy makes and if Professor Pella had contested for any political office, we'd not have cast one vote for him. This write up is premature as far as I'm concerned. 5 Likes 1 Share |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by divineappo(m): 7:10am On May 08, 2016 |
Pls who determines the value of d naira in d parallel market? Pls dont tell me its forces of demand and supply, dat economics bullshit is wat d elite uses in destroying dis nation. |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by seguntijan(m): 7:11am On May 08, 2016 |
The Niger Delta militants should clap for themselves . Well-done guys! You say u r fighting for an injustice against your people for polluting your lands and water as result of pipeline linkages and you r blowing up major oil pipelines to litter the entire lands and water. You say u r fighting against poverty in ND and you r reducing to nothing your supposed state allocation from the 13% oil derivations, to the extent that a small state like Bayelsa with only 8 local govt can no longer pay its workers for the past 8 months now. You say u are fighting against massive unemployment of ND youths and you r chasing out investors out already in your lands by blowing up their infrastructures, and announcing to them the hostility of siting any sort of oil company in your environs. Crude oil is Located in ND, but Dangote is building the world's biggest Mega refinery of 650,000brrl/day capacity in Lagos. I just read again another Igbo man from SE building another 150,000brrl/day refining capacity in Lagos, and i asked myself, 'Why Lagos again? Why not in any of the ND oil rich states?' The answer is very simple. Becoz these guys are intelligent investors, they would even prefer to import crude from abroad at international price into their refineries than site their refineries in ND where criminals called Militants will incessantly blew up their oil pipelines to disrupt their production. The cost of importing crude oil even from abroad can never equate the cost of constant ly repairing their broken oil pipelines. Please can someone tell me who are now the real enemies destroying ND? The govt, the Investors or the militants? 11 Likes 3 Shares |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by cardoctor(m): 7:11am On May 08, 2016 |
ABEG, PUT THE MONEY WHERE YOUR MOUTH IS. No need for lengthy speculations. |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by sunnyb0b0(m): 7:12am On May 08, 2016 |
veekid: Did you read d article at all? |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by Nobody: 7:16am On May 08, 2016 |
sage50: Well, we could blame the last admin for not saving enough....but the point is....even if they had saved...it won't have done much good either. Nigeria needs a more stable supply of dollars to keep the Naira strong...and the only way is for us to get rid of the idea that revenues from resources sold= economic prosperity.It does not. 1 Like |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by alizma: 7:20am On May 08, 2016 |
OP is one of the wailers, we know the way they think and reason. the same way they expect change overnight is the same way they are expecting the signing of the budget to influenced dollar rate in one night. keep complaining, those of us who voted the man in know he was, and is still our better option when it comes to choosing between Him and Jonathan. 3 Likes |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by Henryadaku(m): 7:20am On May 08, 2016 |
Chinaimporter: Cock sucking bastard.....Mr predictor go and die if that's your wish for Nigeria fool 1 Like |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by helpee(m): 7:21am On May 08, 2016 |
shevon:there is nothing magical about it. Simple economics. It just shows the investors dont trust the budget . When news break, currencies all over the world react either positively or negatively. For example, if they believe the signing of the budget will strengthen naira against dollar, speculators holding dollars will want to sell in anticipation of rise in naira. Investors can inject money into the system in anticipation of govt spending for their products and services. This can happen in minutes self. It has nothing to do with implementation. So, if the naira is not excited the budget is signed, it means investors dont believe in your budget and that is not too good a news 3 Likes 2 Shares |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by SOPIGO: 7:25am On May 08, 2016 |
Buhari Government "like no other" will 'CHANGE=CHAIN' the Nigeria economy. I think this is -ve Change oooooo |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by Chinaimporter: 7:28am On May 08, 2016 |
Henryadaku: It is not my wish but it is logical and well grounded in fact 1 Like |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by 989900: 7:34am On May 08, 2016 |
helpee: Your first indicator is the stock market, and that responded positively within hours. Even if you load a '747' from NY with dollars on Friday afternoon after the budget was signed, won't you have to wait for banks to open on monday? Not to mention it is not even a straightforward theory with exchange rates. 1 Like |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by playtheblues(f): 7:36am On May 08, 2016 |
This government is like no other. We are absolutely committed to changing the structure of the Nigerian economy once and for all,” he said. We have seen the Ose! |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by Eluwilussit(m): 7:37am On May 08, 2016 |
Even an avowed non-believer like me, find this post incredulously hasty and immature. Give pmb a fair chance and time to succeed or fail. Time guys, time. There's a place, time and reason to wail. Not here. Not now. No reason. Fellow wailers, calm down. It will soon be time to wail. Be prepared! ![]() ![]() ![]() ![]() ![]() 2 Likes |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by omooba969(m): 7:38am On May 08, 2016 |
OLADD: This has nothing to do with knowing economics & the reaction you are all about only happens while the budget is being read but the over all market sentiment determines the position of the currency. Once the market dissects & digest the budget & sees that it lacks substance or radical shift in policy or direction, no one would be prepared to buy into Naira. Every investor prefers a safe haven. You gerrit. ![]() 1 Like |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by playtheblues(f): 7:39am On May 08, 2016 |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by paschu: 7:39am On May 08, 2016 |
divineappo: You call it bullshit because you don't understand how the world works. The only thing your brain is wired to crave is manipulative control. |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by wordbank(m): 7:45am On May 08, 2016 |
Naira, imagine d nonsense name sef Buhari another nonsense name |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by Henryadaku(m): 7:48am On May 08, 2016 |
Chinaimporter: Bleep what you stand for or belief....who told you this horeshit......... ![]() |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by shevon: 7:49am On May 08, 2016 |
helpee:Chief, let's revisit this Economic Principle by close of business next week and see what happens, not judging by a budget that was signed mid-day on Friday. You talked about investors injecting funds in minutes, was it not the same investors erroded confidence that subject the NGN to its current stress level (added to our own insatiable greed for everything foreign and some people's want to make quick bucks) did that still take minutes to make naira go from what it was to what it is now? I am a certified economist and I know what I'm talking about. By the way, are you making your postulation based on the fact that you actually ran a "real" market survey of currency trade on Friday after the announcement or where you just specualting based on what the OP posted? 2 Likes |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by vivalavida(m): 7:50am On May 08, 2016 |
seguntijan: We are talking budget and this yoruba boy is ranting about the oil in another mans backyard. Focus on the topic - budget signing and failure of the naira to react 1 Like |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by grandstar(m): 7:51am On May 08, 2016 |
989900:.This is not a banana Republic! |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by vivalavida(m): 7:52am On May 08, 2016 |
Henryadaku:Counter his arguement with a sound one. Stop being sentimental and resorting to insults because u have nothing to say 1 Like |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by bigtt76(f): 7:52am On May 08, 2016 |
Budget signed on Friday, and you expect Naira to rise on Sunday? Naira na Jesus Christ? ![]() lazeal: 1 Like |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by grandstar(m): 7:53am On May 08, 2016 |
If this budget is expansionary, then expect the currency to depreciate Anything else's a lie 1 Like |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by Nobody: 7:57am On May 08, 2016 |
penzino: Aren't you tired of praying? 2 Likes |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by omooba969(m): 7:59am On May 08, 2016 |
Henryadaku: Naira is still dancing shoki ![]() ![]() Keep watching. ![]() |
Re: The Nigerian Naira Failed To Respond To The Euphoria That Came With The Signing by Lexusgs430: 8:00am On May 08, 2016 |
I just looked outside, I don't see no Naira dancing on my street. What should be the reaction of the Naira? A frown or smile? |
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