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Nairaland Forum / Nairaland / General / Business / Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg (31579 Views)
Naira Gains As CBN Injects $210m Into FX Market / Naira Extends Gains As Dollar Glut Hits Market / Speculators Get Burnt As Naira Gains Value (2) (3) (4)
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by martineverest(m): 7:12am On Jun 23, 2016 |
Laredojohn:its now 320 in black market |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by TheCurse: 7:13am On Jun 23, 2016 |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by shiki(m): 7:14am On Jun 23, 2016 |
I believe we will get there ... |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by darocha1: 7:14am On Jun 23, 2016 |
Laredojohn: please help me ask o 1 Like |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by Koolmexxi(m): 7:15am On Jun 23, 2016 |
So did d CBN and govt suddenly start printing dollars they claimed was scarce and dey didn't have? After granting a few access to the nation's forex and dey in turn hoarded it to enrich themselves over the past few months? Trial and error policies as usual. Wen several analysts called for dis same move, bootlickers kept making all the noises and praising d stance of d govt and now dey have eventually swallowed d hard pill and done d needful I can't help but ask, to what end was d initial suicidal policy on forex restrictions? 6 Likes |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by tbaba1234: 7:15am On Jun 23, 2016 |
Laredojohn: People have to be patient.. As investors start returning and the market gains stability, there will be more visible impacts in the parallel market.. There have already been gains in the parallel market. The Nigerian Stock exchange is making strong gains.. 1 Like |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by Dawdy(m): 7:17am On Jun 23, 2016 |
visijo:Original poster 1 Like |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by AreaFada2: 7:17am On Jun 23, 2016 |
visijo: OP = original poster. The person who posted the thread/topic for others to comment. Well, maybe you can call all other posters counterfeit posters? ![]() ![]() 5 Likes |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by somehowpenis(m): 7:18am On Jun 23, 2016 |
OgaTheTop2:tell me why exactly waivers won't like this? What turned them to wailers in the first placebif not the crumbling economy... 3 Likes |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by erico2k2(m): 7:20am On Jun 23, 2016 |
martineverest:Did you buy at that rate or you are just quoting hearsay |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by nairarules: 7:21am On Jun 23, 2016 |
We are watching 1 Like |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by erico2k2(m): 7:21am On Jun 23, 2016 |
Koolmexxi:They won't like your comments ts.watch out for name callers 1 Like 1 Share |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by Miles300: 7:22am On Jun 23, 2016 |
I really still don't understand wat is going on , y hasn't this fx rate been enforced in banks as at yesterday I was charged 340 for an online payment ..who then is benefiting from this interbank rates 2 Likes |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by AreaFada2: 7:24am On Jun 23, 2016 |
Koolmexxi:Most people in 9ja are stark economic illiterate. Many are also praise singers. Not to mention bigotry. Many praising him genuinely had no idea how flawed the policy was. Therefore, when your child is 18 years old, give him/her some money to buy stock/shares. That will help interest them in economy, finance, etc. 1 Like 1 Share |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by BudeYahooCom: 7:26am On Jun 23, 2016 |
Voodoo economics. The real value of naira to a dollar stands between N450-N600. All these behind-the-scene manipulations are unsustainable. When Nigeria start exporting Manufactured good in high demand, we can talk about 1$ = N100. 5 Likes 1 Share |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by monz(m): 7:30am On Jun 23, 2016 |
visijo:I don't know d meaning either 1 Like |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by alt3r3g0: 7:35am On Jun 23, 2016 |
This is a no brainer really. Its just simple law of demand and supply. Like crude oil crashing from over 100 dollars to below 40 dollars when there was relative peace all round and excess crude on the market. The fact that only cbn is the determining factor at the moment is not a long term fix..anyway one step at a time. 3 Likes |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by Koolmexxi(m): 7:39am On Jun 23, 2016 |
AreaFada2: It's really annoying wen u try to make sense of d nonsense, d illiterates resort to insults and name calling. 2 Likes |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by Koolmexxi(m): 7:42am On Jun 23, 2016 |
erico2k2: Who gives a ratsass about their name callings. We can't force dem to reason but atleast we can try to make dem see reason. 2 Likes 1 Share |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by iykedare(m): 7:43am On Jun 23, 2016 |
TooNoisy: Spot on. Let's see how long they will continue to pump dollars . These guys lack foresight. Even the talk of diversification of the economy Na talk talk talk....no action. 1 Like |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by saintopus(m): 7:51am On Jun 23, 2016 |
TooNoisy: Good thinking.... 1 Like |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by besttrader: 7:52am On Jun 23, 2016 |
I don't get all these folklore about the naira appreciation, the naira 1D chart shows a currency that is obviously doing poorly. It opened trading around the N250 level on Monday and stands around N281.50 in the interbank market. More is yet to be seen, as we have to keep our hands crossed. We all are hoping the Naira appreciates, but at the moment that's yet to be seen. You can monitor the USDNGN parity on Bloomberg at http://www.bloomberg.com/quote/USDNGN:CUR Cheers House ![]() 2 Likes |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by Elxandre(m): 8:07am On Jun 23, 2016 |
Only if Buhari was proactive in dealing with this forex issue, the investors would have still been around right now. There wouldn't have been much hoarding and speculating on the value of the dollar, which has led to astronomical rates. Seriously, Buhari will end up as an ineffectual president too. 1 Like |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by musicwriter(m): 8:19am On Jun 23, 2016 |
SmithHumble50: It's yielding results ''on paper'' not for every Nigerian. @eleojo23 have reported GT bank is still charging N340/$1 just like other banks. The common man will never feel the impact. In fact, our situation have gone from bad to worse!. The Naira gain is expected, cause what the CBN is doing now is like a thief who just had a successful robbery and is lavishing his money. Eventually, the (thief) CBN will run out of dollar and will no longer be able to pump dollar into the market. It's a matter of time!. The Naira is heading back up in the hood of N500/$1 - N1,000/$1. I know this for sure because every other country; Venezuela, Zimbabwe, Angola, Egypt, have all tried what the CBN is experimenting now, and the result was failure in all mentioned countries. History of economics of nation states is not on our side! 4 Likes 1 Share |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by Nobody: 8:20am On Jun 23, 2016 |
TooNoisy:You are pretty smart to understand the situation the way you do. 1 Like |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by Angoni(m): 8:24am On Jun 23, 2016 |
OgaTheTop2: Mor*on, you obviously do not understand economic fundamentals. CBN is manipulating the value of Naira by burning forex i.e. selling it. The true value of Naira relative to the dollar is much lower, i.e. Naira would exchange at much higher rate than currently reported if CBN were not propping it up. This kind of stupidity is appalling. You have access to internet but can not critically read and think before you make zombie comments. And more fools even like your comment! Shi*t! 2 Likes 1 Share |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by Taryur3(m): 8:38am On Jun 23, 2016 |
The problems of nigerians is not the strength of naira against dollar...the question is...how much are they still selling things by your area after the strength against dollar...if it's still same price...you have no reason to be happy for the rise of naira...against dollar. 4 Likes 1 Share |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by Shakitibob0: 8:38am On Jun 23, 2016 |
darocha1:please which bank charges 31o? |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by rigarmortis: 9:00am On Jun 23, 2016 |
martineverest: guy stop all the childish tantrums, both "wailers" and "zombies" are all affected by the dip in naira against the dollar, and forget about the theories still bandied about until it translates to results for the common masses, how many people here can have access to the #283 naira to the dollar exchange?........unless you are a minister or multinational company...........i still made some transactions online at the rathe of 342 naira yesterday evening. leave party affillaition out of this issue first bro, we are talking survival here. i dont know if to convert all my nairas to dollars co the thing keeps jumping up and down 2 Likes |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by nortcentrallord(m): 9:06am On Jun 23, 2016 |
Strengthened only on online media and applicable only when it's a bank to bank or cbn to bank transaction. How does the common man benefit from that? Yet some "Zombies" 'll shout Yaaaa, buhari is working... where did Nigerians started with the exchange rate in this administration again that they now rejoice a 2naira gain? folly is everywhere. I am too ashamed to be called a Nigerian. Thank God I can switch nationality. 2 Likes |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by nortcentrallord(m): 9:11am On Jun 23, 2016 |
Angoni: Thanks for forcing his eyes open but it's not every time you waste precious time on some people. Party affiliation and ignorance has robbed a lot of Nigerians of God given common sense. Sometime I wonder how people think. |
Re: Naira Gains as Nigeria’s Central Bank Boosts Dollar Supplies - Bloomberg by nortcentrallord(m): 9:23am On Jun 23, 2016 |
This administration is so clueless. Wasn't this exactly what the last administration was doing (managing to keep things afloat) these brainless minions forget that Nigeria is like a HIV patient that is treated for what ever side of the body that feels pain @ a time since there is not drug for the total cure. But they want to treat it all @ once forgetting that it will just die of complication. |
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