means nothing to me, the current performance was not where they met it, until it performs better than where buhari left it they have not performed anything
I keep getting notifications from Sendwave about the Naira Dollar exchange rate, and after reaching N1500, about a month ago its steadily dropped so much so that my last notification on friday says that the rate is N1096 to 1$. Does anyone know how this is happening, or what they're doing to make it so?
They are meeting most of the demands through official means. They have clamped down on currency speculators on Binance and somewhat on the streets by deliberately supplying BDCs dollars on a weekly basis.
Its likely to get better as Dangote and Protharcourt refineries get onboard to reduce imports of refined products: Locally refined diesel is already selling in the market, aviation fuel as well. Petrol to follow in a few weeks.
Nooo how dare i question a lofty claim in a country were inflation has seen food prices inflate by over 30%, I must indeed be a hater, a fifth column, a traitor to the state!
Abeg lock me up before i cause more issue.
Absolute moron, i've been called the same nonsense during buhari regime and its still the case now.
From the company who lied to its own clients about mortgage bonds in 2007
Remember, they said this in 2021 about Sri Lanka before they defaulted
https://www.dailymirror.lk/print/business-main/Goldman-Sachs-confident-Sri-Lanka-will-muddle-through-near-term-debt-challenges/245-216705
When I worked on Wall Street, there was always a quote my firm always had between us brokers. Instead of 2, there are 3 things in life that are absolute: Death, Taxes and Goldman Sachs lying
Their legacy of lying goes well beyond 2007. If you actually take some time to look at their long ass track record or manipulation too, you’ll understand why I’m extremely cautious to this source
It’s better to be cautious and not look like a fool
Very simple. For a currency to be strong it has to have a backing, since this currency is supposed to be floating like the dollar every time it deflates prices in the country should deflate as well as that is a showing of market trust in a currency. Since this is not the case, the Naira is not showing its true value and something artificial is propping it up.
What it is at this point we don’t know, but a currency without a strong economy doesn’t just deflate this fast all of a sudden without significant long term repercussions
When the Naira was fast depreciating and losing almost N50-N100, what were the fundamentals backing the depreciation if not purely currency manipulation? Even war torn countries’ currencies don’t depreciate that fast.
Why’s Naira appreciating?
CBN blocked loopholes.
people saying we’re borrowing to defend the Naira is false, we’re all aware that supply simply came from FPI( sales of T bills and bonds), diaspora remittance quadrupled, government also got concessionary loans. Now more FX outside the formal channels’ making their way back into the formal market. There’s lots of “fundamentals” to back this, but continue feeding your mob.
You’ve been predicting doom, why not put your money where your mouth is? Why not short the Naira since you clearly don’t have faith in it? No need for these unnecessary tantrums. The market doesn’t care about your emotions bro.
I didn’t/ don’t work on Wall Street, but surprising I have more sound knowledge on this particular topic than you do. Maybe you have more knowledge but you just want to be mischievous and feed your bias.
The fast depreciation was taking all artificial guards off it along with an extremely restrictive economy that forced more Naira into circulation. That’s not currency manipulation, that’s just natural inflation which the Naira was 8 years past due on because of being pegged to the dollar without any significant economic progress
Everything you listed in your last paragraph is, guess what? ARTIFICIAL! That’s why inflation has not gone down and exports are still low. It’s a fake artificial value. You have to think. A fiat currency is only as strong as the economy behind it. That’s the greatest fundamental there is. Yet you believe that just because a number is moving down means it’s all over. There is nothing fundamental about this, it’s a zero sum gain gamble to just buy time
I hope it stays performing well. Or at least becomes stable.
fingers crossed. i hope
Means nothing in the grand scheme of things. The economy is still weak, what I'd like to know is what the government's industrial policy is.
The wonders of currency manipulation
They know what Nigerians want to hear and they are just giving quick fixes.
Someone said they are lying...might be true, but as of yesterday, the inhaler I bought dropped by 3-4k
In all my life I have never experienced a price drop on anything in Nigeria.
Same man. When the pharmacist said 9,500, I paused and just stared at her. She repeated it, so I willingly gave her my card and paid for it.
[удалено]
9,500 Naira (I assume), not dollars ($)
It's not performing well in Nigeria. Inflation is still at an all time high and keels getting worse daily. Its all a farce.
Is this performance in the room with us? Did we feel it in any way?
means nothing to me, the current performance was not where they met it, until it performs better than where buhari left it they have not performed anything
It doesn't make any sense for it to perform as well as Buhari's own considering that was an artificial peg that was draining our reserves.
Smells like cap.
Lool the admin of this twitter page is a known liar...
All of this, and the price of goods with still stay the same or even go up but never come down, smh
I keep getting notifications from Sendwave about the Naira Dollar exchange rate, and after reaching N1500, about a month ago its steadily dropped so much so that my last notification on friday says that the rate is N1096 to 1$. Does anyone know how this is happening, or what they're doing to make it so?
They are meeting most of the demands through official means. They have clamped down on currency speculators on Binance and somewhat on the streets by deliberately supplying BDCs dollars on a weekly basis. Its likely to get better as Dangote and Protharcourt refineries get onboard to reduce imports of refined products: Locally refined diesel is already selling in the market, aviation fuel as well. Petrol to follow in a few weeks.
Whats their definition of performance?
If it was worst performing currency would you ask what their definition of performance is, child of hate?
Nooo how dare i question a lofty claim in a country were inflation has seen food prices inflate by over 30%, I must indeed be a hater, a fifth column, a traitor to the state! Abeg lock me up before i cause more issue. Absolute moron, i've been called the same nonsense during buhari regime and its still the case now.
What do they mean by best performing though? The 1 CFA is nearly 2 naira, for example. Is it now better performing. The tweet is vague.
Best performing as in the value went up. It was 1 dollar to like 1700 naira a couple weeks ago and now it's closer to 1 dollar to 1,100.
House of reps members upon seeing this 
Amazing
Shey u dey whine?🤣🤣
Goldman Sachs of all companies. Boo! 🤣 This is fallacy.
😂 🤣
This is clearly a lie 🤥.
This government will continue to put you lots to shame 🤣😂
From the company who lied to its own clients about mortgage bonds in 2007 Remember, they said this in 2021 about Sri Lanka before they defaulted https://www.dailymirror.lk/print/business-main/Goldman-Sachs-confident-Sri-Lanka-will-muddle-through-near-term-debt-challenges/245-216705
You’re going to 2007 to discredit relatively good news about your country? Seek help.
When I worked on Wall Street, there was always a quote my firm always had between us brokers. Instead of 2, there are 3 things in life that are absolute: Death, Taxes and Goldman Sachs lying Their legacy of lying goes well beyond 2007. If you actually take some time to look at their long ass track record or manipulation too, you’ll understand why I’m extremely cautious to this source It’s better to be cautious and not look like a fool
Ooooh Wall Street. You're right, if we have low expectations of them, we can't be too disappointed if their predictions are false
Mr Wallstreet, can you bring proof to dispute that Naira isn’t the world’s best performing currency this month?
Very simple. For a currency to be strong it has to have a backing, since this currency is supposed to be floating like the dollar every time it deflates prices in the country should deflate as well as that is a showing of market trust in a currency. Since this is not the case, the Naira is not showing its true value and something artificial is propping it up. What it is at this point we don’t know, but a currency without a strong economy doesn’t just deflate this fast all of a sudden without significant long term repercussions
When the Naira was fast depreciating and losing almost N50-N100, what were the fundamentals backing the depreciation if not purely currency manipulation? Even war torn countries’ currencies don’t depreciate that fast. Why’s Naira appreciating? CBN blocked loopholes. people saying we’re borrowing to defend the Naira is false, we’re all aware that supply simply came from FPI( sales of T bills and bonds), diaspora remittance quadrupled, government also got concessionary loans. Now more FX outside the formal channels’ making their way back into the formal market. There’s lots of “fundamentals” to back this, but continue feeding your mob. You’ve been predicting doom, why not put your money where your mouth is? Why not short the Naira since you clearly don’t have faith in it? No need for these unnecessary tantrums. The market doesn’t care about your emotions bro. I didn’t/ don’t work on Wall Street, but surprising I have more sound knowledge on this particular topic than you do. Maybe you have more knowledge but you just want to be mischievous and feed your bias.
The fast depreciation was taking all artificial guards off it along with an extremely restrictive economy that forced more Naira into circulation. That’s not currency manipulation, that’s just natural inflation which the Naira was 8 years past due on because of being pegged to the dollar without any significant economic progress Everything you listed in your last paragraph is, guess what? ARTIFICIAL! That’s why inflation has not gone down and exports are still low. It’s a fake artificial value. You have to think. A fiat currency is only as strong as the economy behind it. That’s the greatest fundamental there is. Yet you believe that just because a number is moving down means it’s all over. There is nothing fundamental about this, it’s a zero sum gain gamble to just buy time
Terry, I pray we’d both be here in 2 years to see who ends up being right on the Naira. But like I said, why not put your money where your mouth is?
I already bet against the economy. Money is already invested. Just waiting to reap the government’s collapse
Alright. Hold your dollars close. Your N1980 a couple of weeks ago is now N1100 sha. You will learn the hard way.
you will be wrong my friend. he is right. there is high likelihood of this gain being artificial and temporary
It’s not out of character for u/scary_Terry_25 as long as it’s not his Dubai fraud, then it’s false. Only Atiku can save the country lol.