1

Imagine naira appreciating but goods and service in yh country is still on the increase....

If naira come start to dey depreciate again nko

I pray for Good times

Hmm, at least the citizens can eat food . . I hope.

You can see the human nature in the president and his economic team trying to find a solution to the economic disaster.

We have to keep praying for more wisdom from above for the right decisions both in medium and long term.

Floating the naira is too wrong at this point. Since he have not created enough modalities to absorb it's effect.

Why waited till dollar got to N1,900 before you realised your policy to float Nigeria was not working? And some morons are praising the olodo president that Naira is improving.

unclejb2:
For how long can Tinubu sustain this? Hold your dollar closely. If the government reserve gets depleted, e go red for naira

Don't only hold dollars, buy more dollars.

Leave us alone Bloomberg...

E se ..

E se oo

E se opo

E wa ma lo!

This better not be true...!

That would be the most idiotic thing any nation's leader can do.

Dollar come back, would be bloody, Nigerians should better keep their dollar.

Keep your dollar.

This cardoso, seem to be a coward. Olodo, rabata.

Don't let this fake, naira appreciation decieve you. That's why prices of goods hasn't dropped.

Economy is simple, don't let nigerian government make you feel, what you read in school was a lie.

Buhari and his northern friends would be laughing wherever they are.

From the look of things it is obvious top banking executives are not willing to support this government, they know the right steps to takes, for a balance.

i don't understand why they are mute, and not willing to advise this tinubu government.

Cardoso doesn't know sh*t.

Na voodoo economics dey worry APC

garykoeman:
Even with their propaganda obi will not be president.

Never ever!!!

So garri go come down?

unclejb2:
For how long can Tinubu sustain this? Hold your dollar closely. If the government reserve gets depleted, e go red for naira

Do you people read at all or you just feast your eyes on headlines?

Article clearly, after beating around the bush, attributes the dip to the clearance of the 7bn backlog.

Most hilarious was the final paragraph that predicted the reserves would rise again. An article that is neither here nor there.

The CBN will also be aware that new inflows from Afreximbank, the World Bank, and a possible eurobond, plus the benefit of higher oil prices and a likely return of remittances via official and semi-official channels (rather than bitcoin) will allow reserves to stabilize or rise again

SenecaTheYonger:
But everyone knows this. The trick is to flood the market with dollar in this case $2bn a
Month. Which is $24bn a year.

But keep a blind eye to the inflation?

WTF I never saw this coming.. I have to leave this country

The problem with Nigerians is, no one looks at things from a clear angle anymore. No rational thinking..... Just bunches of tribal and religious individuals.

garykoeman:
Even with their propaganda obi will not be president.

You are a liar, Obi will become a president in next generation and generation to come

E shock you? These people are capable of tribalizing everything if it doesn't sing Tinubu's praise.

ValarDoharis:
Thats bloomerg you're tribalising?

FreeStuffsNG:
Hmmm

Most of the funds was used to pay back the billions in forex backlog debts incurred more than 4 years ago.

You can support your national currency in the short run to ensure that others see that you have a skin in the game. That decision of paying back international airlines alone has led to drastic fall in airfares and increased confidence in the naira.

From the chart below, the dates when our reserve fell tally with the period we cleared this massive backlog from early March till when CBN announced it in late March which lagged into April. We are barely in mid April.

May God bless Nigeria for ever! Check my signature for free stuffs!

Under APC AND YOU CHEERED?

SeeThisLoser:


Anthony Osae-Brown Is an Igbo man ? You are irredeemable small minded idiot.

Anybody that doesn't support their lord and saviour is an igbo man

Naira is appreciating because the Forex backlog is being cleared, and not because CBN is using the foreign reserve to stabilise dollars.

Naira crashed in the first place because of uncleared backlogs. With what else should the CBN clear the backlog if not with our foreign reserve? Should the CBN have incurred more foreign loans to clear the backlogs? No! So we will use what we have at the moment, which is our foreign reserve.


So all these evil unpatriotic elements should shut up and get back into depression

Major Illiterates here in the persons of urchnns.

They say Bloomberg is an Igbo man.

Lollz.

Let me warn those who have dollars - of course not the Urchnns, they are empty vessels- when Tinubu is exhausted shoring up the Naira- it will collapse to the point of N2,000 to $1 or worse.

There is nothing happening in the Export and Production sector.

Therefore there are NO fundamentals to back up a strong Naira.

The strength of an economy is based on what it sells. Both internally and externally.

Industries are declaring humongous losses and folding up while non-oil exports are down.

Hold your dollars.

Donaldoni:
A piiiigg is behind the stupid report

Today there is a convergence between the official rate and parallel market rate.

Speculators have been chased out of the system

Dollar is no more subsidised as the import duty now aligns with the exchange rate

what then did tinubu use nnpc to borrow $3b from afrexim for?

I think the report doesn't actually show the fiscal policy of cbn is not working.