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Naira Strengthens To N435/$ On CBN Dollar Glut - Business (3) - Nairaland

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Naira Rises To N389/$ As Banks Buy 29% Of Cbn’s Dollar Offer / Naira Shortage Forces Banks To Boycott CBN Dollar Sale / Naira Strengthens Against The Dollar As Bdc Intervention Goes On (2) (3) (4)

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Re: Naira Strengthens To N435/$ On CBN Dollar Glut by YESpParticipant: 8:19am On Feb 28, 2017
NOTICE! NOTICE!! NOTICE!!!

YES-P PARTICIPANTS TO STAGE A NATIONWIDE PEACEFUL PROTEST.
https://www.nairaland.com/3652654/yes-p-notice-peaceful-nationwide-protest
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by AleAirHub(m): 8:30am On Feb 28, 2017
Good One.

395 Is Still Possible grin
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by wristbangle: 8:46am On Feb 28, 2017
HungerBAD:
Good.

We predicted it, and i will repeat it again here. Things will get tough/hard first before becoming better. The good days are starting to come back to Nigeria.

Those praying for the downfall of Nigeria, should move to Niger Republic.

Gradually we will get there.

Amen. My prayer is for the sustainability and appreciation in the currency constant

1 Like 1 Share

Re: Naira Strengthens To N435/$ On CBN Dollar Glut by adblack10(m): 8:47am On Feb 28, 2017
amanikondo:
Nothing new. It won't last. grin grin
u c ur life
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by Bizibi(m): 8:51am On Feb 28, 2017
But this is not a good news,from 400 to 435.......

1 Like

Re: Naira Strengthens To N435/$ On CBN Dollar Glut by ayusco85(m): 8:52am On Feb 28, 2017
BabaCommander:


Get where? You think FG can sustain the intervention? Truth is that they can't folks are doing panic selling that's the reason for the steady fall.

Enemies of Nigeria. They see the handwriting but they are too dumb to admit it


Ur wish for Nigeria won't come to pass.
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by 2shur: 8:53am On Feb 28, 2017
im not happy.
i got 6k.
i need dollar to be 520 pls

infct im vexed already.
how dare naira drop.
never.
naira listen to me.
u shall remain at 560 600 max to a dollar
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by ayusco85(m): 8:53am On Feb 28, 2017
kunene4:
Subscribe for fix game

The thunder that will strike you and ur miserable subscription eh......


Let me just keep quite. undecided
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by Omooniya1: 9:02am On Feb 28, 2017
HungerBAD:
Good.

We predicted it, and i will repeat it again here. Things will get tough/hard first before becoming better. The good days are starting to come back to Nigeria.

Those praying for the downfall of Nigeria, should move to Niger Republic.

Gradually we will get there.

Yes

1 Like

Re: Naira Strengthens To N435/$ On CBN Dollar Glut by Toks2008(m): 9:14am On Feb 28, 2017
By next week it will sell below N400
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by Super1Star: 9:15am On Feb 28, 2017
I pray it is sustained.

That is my only genuine fear and concern.
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by AngelicBeing: 9:21am On Feb 28, 2017
unclezuma:
Lalasticlala hope you don hear...bring out all your NL dollars and save ya sef the stress...



Chibuzor dollar don fall oya come get me the spare parts for my car Itori Olorun
grin grin grin tongue

Re: Naira Strengthens To N435/$ On CBN Dollar Glut by signz: 9:22am On Feb 28, 2017
Osibanjo Osibanjo Osibanjo

K'anyi ga eso

Ma ona eje eje

Ma ona ana ana

Osibanjo k'anyi ga eso

cheesy cheesy cheesy

Na play i dey play oh
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by aolawale025: 9:22am On Feb 28, 2017
Eventually the naira has to float. The CBN ought not to be the only source of dollar supply. BDCs should be encouraged to build alliances with money transfer outfits abroad to source dollar as well.
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by Nobody: 9:27am On Feb 28, 2017
let me buy something from ali express and confirm this information abeg.
I pray it gets back to 200
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by Dapsonemmanuel(m): 9:28am On Feb 28, 2017
good one .. let it keep waxing stronger
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by bsbability(m): 9:33am On Feb 28, 2017
SweetBoyFriend:
Bad news
Potential Yahoo boy!!!
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by Mintek: 9:35am On Feb 28, 2017
hucienda:
Good job to the Buhari Administration on this one. Kudos as well to Acting President Osinbajo.

That's one thing with facts - you don't need a Lie Muhammed, Garba Shehu, Femi Adesina, Ms Onochie and the horde of government-paid internet hacks to spread propaganda about it. It's there for all to see and feel.

Hope the naira continues to strengthen to around N200/$1 - or even better.

Amen
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by Limitless72(m): 9:39am On Feb 28, 2017
embarassed
Oladimejyy:
shocked


U dey craze..:why you talk that kind thing u no knw sey mr president nah badluck..for nigeria
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by enigmaticlion: 9:42am On Feb 28, 2017
Why did it take them this long to use their coconut brain. Mthew!!!
toyinjimoh:
change is gradually coming
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by buffalowings: 9:44am On Feb 28, 2017
it seems to me all they are doing is to release dollars into the economy
what happens when the dollar reserve dries up
please enlighten me

currency strengthens only if your economy is vibrant and I don't think we have anything but crude oil export
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by RichardoTobinho: 9:55am On Feb 28, 2017
smileyThis is nice... Bubu should kuku obtain permanent residency... Osibanjo is working
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by Boss13: 9:58am On Feb 28, 2017
I wonder why people are happy over this. The real market value of the naira is N150/$. These recent appreciations of the dollar and devaluation of the naira are caused by market manipulations, hoarding of FX and preferential treatments.

If the CBN was forward thinking, the recent oil price crash won't have caused any problems. However, the
CBN was issuing FX to politicians for elections and depleting our reserves. That is why they were forced to devalue the naira and yet foreign investors were not satisfied. They were not enticed by the devaluation because of market manipulations and uncertainties about the actual naira value. Hence they were few capital dollar inflow.

Now CBN spokesman, Okoroafor, wants to manage Nigeria's expectations. I agree the Naira will appreciate further because one, we have concession from OPEC to not tamper our volume and two, we just got monies from Eurobond sales. However, Okoroafor failed to say the truth that Africa provides better interest rate/yield rate than in other continent because there is high inflation in Africa. Ghana's Eurobond at 9% was over subscribed too and Nigeria's 7% should not be an exception because investors are looking at how to increase their earnings regardless of economic uncertainties.

Also, the CBN spokesman has failed to explain to Nigerians what happened with the inclusion of Yuan as one of our official recognized FX currency. We have huge trade deficits with China and rely heavily on Chinese imports and also have many Chinese businesses operating here. Payment processes using the Yuan will reduce the demand for the dollar and further appreciation for the naira.

My general concern is how long will the CBN sustain the provision of dollars. Apart from the exchange control of 41 restricted products, what other measures are being put in place by the CBN?

2 Likes

Re: Naira Strengthens To N435/$ On CBN Dollar Glut by Josephamstrong1(m): 9:59am On Feb 28, 2017
smiley
Just watching...

1 Share

Re: Naira Strengthens To N435/$ On CBN Dollar Glut by dragonking3: 10:01am On Feb 28, 2017
hucienda:
Good job to the Buhari Administration on this one. Kudos as well to Acting President Osinbajo.

That's one thing with facts - you don't need a Lie Muhammed, Garba Shehu, Femi Adesina, Ms Onochie and the horde of government-paid internet hacks to spread propaganda about it. It's there for all to see and feel.

Hope the naira continues to strengthen to around N200/$1 - or even better.
I hope when the reverse is the case, you guys will also mention these people you are giving praise to
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by hucienda: 10:06am On Feb 28, 2017
dragonking3:
I hope when the reverse is the case, you guys will also mention these people you are giving praise to

Most def sir. No spin by them or their paid agents can refute the fact that the economy is still a mess and their policies worsened the trend to the current dysfunctional critical state ravaging the land but when there are positives, the least I can do is commend.
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by ferking(m): 10:08am On Feb 28, 2017
God bless Nigeria,these is good news oh,i pray for naira to gain strength and for our economy to be stronger above every other economy because we are really suffering oh.God help our government abeg.
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by blazer234: 10:24am On Feb 28, 2017
Oladimejyy:
shocked

Congrats to Acting President Osinbajo. Anyone who thinks his father and mother soaked him in water of Abuse should try to abuse me. I'm ready to give it to him in full measure
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by uchealo(m): 10:25am On Feb 28, 2017
190 or 150 will be a good stand of naira to a dollar, if we could get even 100 I will still be happy.
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by seuncyrus(m): 10:27am On Feb 28, 2017
Factfinder1:
Good one I hope auto delears would swallow their toks cars?

Lol, we're on the same page bro...let's just wait and see ..with all their outrageous prices
Re: Naira Strengthens To N435/$ On CBN Dollar Glut by solidman59(m): 10:35am On Feb 28, 2017
Nothing to be happy about. They increased it to 520 now they reduced it a little and expect us to praise them. Things are still bad, very bad

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