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The Dollar Is Crashing On Binance. From N1,900 To 1490 - Business - Nairaland 4496h

The Dollar Is Crashing On Binance. From N1,900 To 1490 (3163 Views)

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blamingthedevil: 10:10pm On Feb 25, 2024
The dollar is crashing on Binance. From N1,900 to 1490.

Sell now or sell at N100/$. This is a financial advice.

https://twitter.com/KawuGarba/status/1761692029984104846

15 Likes

funshint(m): 10:18pm On Feb 25, 2024
Wow! Some good news...
I really don't know what this govt is doing but whatever they are doing is really working. It shows some people were deliberately manipulating this thing before.
I hope this can be pushed to front page on time.
Cc Seun

12 Likes 1 Share

Chibuzoripob: 10:28pm On Feb 25, 2024
grin BAD NEWS to Obidients ๐Ÿ€ ๐Ÿ€ wey nor wish us well

12 Likes 3 Shares

nairalanda1(m): 10:29pm On Feb 25, 2024
Crash is temporary. The naira will fall again

At the end, NIgeria is not earning enough dollars. Simple and short.

NO dollars, no means of buffering the naira. We are just circulating the few dollars we have, hoping it brings miracles.

But right now, with debt service eating most of our revenue, and a depleted forex reserve, I don't expect the naira to remain forever strong...it would weaken till we have started earning more dollars.

4 Likes

Golan007: 10:29pm On Feb 25, 2024
Obedients would be praying ๐Ÿ™๐Ÿพ it's a lie.

17 Likes 2 Shares

Chibuzoripob: 10:33pm On Feb 25, 2024
grin cheesy cool God Eluuups 70
Eruku makaniki 77
Eluuupees 75 grin
Olu Lee 71

4 Likes

Chibuzoripob: 10:37pm On Feb 25, 2024
cool wink cheesy Thank God ooo.*Singing * I have seen,seen the downfall of Satan,glory be to God,glory be to Jesus,,,,,,,,......When I look at my back,Obidients has fallen grin..........

5 Likes 2 Shares

7lives: 10:37pm On Feb 25, 2024
nairalanda1:
Crash is temporary. The naira will fall again

At the end, NIgeria is not earning enough dollars. Simple and short.

NO dollars, no means of buffering the naira. We are just circulating the few dollars we have, hoping it brings miracles.

But right now, with debt service eating most of our revenue, and a depleted forex reserve, I don't expect the naira to remain forever strong...it would weaken till we have started earning more dollars.

This is a sad news, are you also a speculator?.

17 Likes

Biodun556(m): 10:40pm On Feb 25, 2024
funshint:
Wow! Some good news...
I really don't know what this govt is doing but whatever they are doing is really working. It shows some people were deliberately manipulating this thing before.
I hope this can be pushed to front page on time.
Cc Seun

Nigerians are wicked, they manipulate the currency personal interest

5 Likes

nairalanda1(m): 10:41pm On Feb 25, 2024
7lives:


This is a sad news, are you also a speculator?.

cheesy. Nope. LIke the joker I am, I am yet to have a dom . (It's a new year resolution for me that I should open one before the end of this year...).

But I have been following our currency vs the dollar for a long time. And over the last ten years, I have come to understand that a strong currency comes from having enough forex flowing into the country. We don't have that now.

3 Likes

jmoore(m): 10:42pm On Feb 25, 2024
blamingthedevil:
The dollar is crashing on Binance. From N1,900 to 1490.

Sell now or sell at N100/$. This is a financial advice.

https://twitter.com/KawuGarba/status/1761692029984104846
Babablu bulabu advice.

APC Tinubu will sell 1 dollar for 100 naira in agbado republic.

2 Likes

Paraman: 10:44pm On Feb 25, 2024
nairalanda1:
Crash is temporary. The naira will fall again

At the end, NIgeria is not earning enough dollars. Simple and short.

NO dollars, no means of buffering the naira. We are just circulating the few dollars we have, hoping it brings miracles.


But right now, with debt service eating most of our revenue, and a depleted forex reserve, I don't expect the naira to remain forever strong...it would weaken till we have started earning more dollars.
If we're to go by your comment, almost every African country national currency is suppose to be performing badly like the Nigerian currency.

3 Likes

Opintiwa: 10:45pm On Feb 25, 2024
Super story
Recardo(m): 10:46pm On Feb 25, 2024
blamingthedevil:
The dollar is crashing on Binance. From N1,900 to 1490.

Sell now or sell at N100/$. This is a financial advice.

https://twitter.com/KawuGarba/status/1761692029984104846

N100 to $1? Abeg go sleep. Financial advice for gutter.
You people have the time to celebrate mediocrity and failures. Nigeria will never be ok with low-level celebrators of failures like this.

1 Like

nairalanda1(m): 10:46pm On Feb 25, 2024
Paraman:
If we're to go by your comment, almost every African countries currency is suppose to be performing badly like the Nigerian currency.

IMma going to tell all of you a harsh truth...almost all African currencies are a mess. Even the SA rand.

The problem is, most African countries are not massive industrial producers. Either they are funding themselves on debt or they sell resources whose prices they do not control. EIther way, it means that there isn't enough forex flowing in to keep the economy strong.

We can cry about it, and say we want to remove ourselves from dollars. But everyone, including many Africans, wants dollars for international trade.

1 Like

Shadomaan7: 10:48pm On Feb 25, 2024
Chai, the dollar don japa o! Make we sell now or wait for N100 E fit be like film trick sha.
baby124: 10:49pm On Feb 25, 2024
nairalanda1:


cheesy. Nope. LIke the joker I am, I am yet to have a dom . (It's a new year resolution for me that I should open one before the end of this year...).

But I have been following our currency vs the dollar for a long time. And over the last ten years, I have come to understand that a strong currency comes from having enough forex flowing into the country. We don't have that now.
Why dollar rate no depend on strong naira flowing through their economy? Country donโ€™t need no FX if it is not dependent on imports to largely trade on an FX not in itโ€™d currency. We should absolutely only trade in naira.
Paraman: 10:49pm On Feb 25, 2024
blamingthedevil:
The dollar is crashing on Binance. From N1,900 to 1490.

Sell now or sell at N100/$. This is a financial advice.

https://twitter.com/KawuGarba/status/1761692029984104846
People who buy usdt at over #1800/1 usdt, will be sweating now

1 Like

nairalanda1(m): 10:52pm On Feb 25, 2024
baby124:

Why dollar rate no depend on strong naira flowing through their economy? Country donโ€™t need no FX if it is not dependent on imports to largely trade on an FX not in itโ€™d currency. We should absolutely only trade in naira.

NO, we need forex...for imports, paying our debt, etc.

Or how do we pay for things like the phones and computers we use? Certainly not in naira when we import the stuff.

2 Likes

DWickedLandLord: 10:57pm On Feb 25, 2024
I pray people are intelligent enough to differentiate between swings based on Currency Speculation VS Economic Policy

1 Like

Nbote(m): 10:57pm On Feb 25, 2024
The reason why our leaders cannot see anything wrong in their directionless leadership is due to the kind of moronic followers they have. Naira have been on a freefall and everyone was feeling the heat and then it's beginning to recover and yet morons are mentioning obidients?? Are they the ones who wrecked the Naira What kind of foolishness is this?? Since when is Binance the BDC or CBN who fixes rates?

7 Likes 2 Shares

StOla: 11:30pm On Feb 25, 2024
blamingthedevil:
The dollar is crashing on Binance. From N1,900 to 1490.

Sell now or sell at N100/$. This is a financial advice.

https://twitter.com/KawuGarba/status/1761692029984104846

Please, advise them well.

Left to me, all the domiciliary s with local remittances would have been converted to Naira at the rate of $1 = N1.

Anyone who is buying dollars in Nigeria and stocking up in domiciliary s, have more money than they need to care for themselves and their families, so rather than save it in Naira, they want to ruin our commonwealth economy.

I cannot be in government and you will want to prove that you can be more wicked than the government.
AbujaCitiBlog: 12:26am On Feb 26, 2024
Please keep your dollars oh! Tinubu cant handle the massive inflation he had already plunged Nigeria into.

So, the best thing to do is save your dollars because after a few days it's climbing back to 2500. It's a warning.

2 Likes 1 Share

Chibuzoripob: 2:05am On Feb 26, 2024
grin Eluuupees ๐Ÿคก ๐Ÿคก ๐Ÿคก ๐Ÿคก from top uo BOTTOM party
Sirianese: 3:00am On Feb 26, 2024
Golan007:
Obedients would be praying ๐Ÿ™๐Ÿพ it's a lie.

Aboki APC dogs such as yourself keep praying for the continued enslavement of their own loved ones and future generations

Cursed chunk of slime
sulakishop(m): 3:01am On Feb 26, 2024
If you have cash buy lots of it now and sell later. Naira will still crash. It's temporary
GreaterFuture(m): 4:35am On Feb 26, 2024
They are deliberately doing to to make money..
The Cabals that own the place
Iamanoited: 5:33am On Feb 26, 2024
DON'T WASTE TIME, CRASH IT NOW TO N500:$1 TILL JUNE ENDING AND AFTER N200:$1 TO 31/12/24. 'COS, IT WILL BE N1;$1 BY 1st JAN. 2025.
THIS IS TINUNOMICS NOT BUHARINOMICS.

ANY ONE OR COMPANY PAYING OR EARNING DOLLARS IN NIGERIA FOR GOODS AND SERVICES IS A CRIMINAL. HE SHOULD BE ARRESTED AND PROSECUTED IMMEDIATELY..

1 Like 1 Share

Tellmeastory: 5:41am On Feb 26, 2024
nairalanda1:
Crash is temporary. The naira will fall again

At the end, NIgeria is not earning enough dollars. Simple and short.

NO dollars, no means of buffering the naira. We are just circulating the few dollars we have, hoping it brings miracles.

But right now, with debt service eating most of our revenue, and a depleted forex reserve, I don't expect the naira to remain forever strong...it would weaken till we have started earning more dollars.

The banks were hoarding 7 billion dollars according to one govt official on Channel news last week. I think they've received phone calls from Aso Rock to desist or have their top executives arrested for sabotage and money laundering etc.

1 Like

SpatialKing(m): 5:50am On Feb 26, 2024
Golan007:
Obedients would be praying ๐Ÿ™๐Ÿพ it's a lie.
Oga
Tackle your president
Paraman: 6:04am On Feb 26, 2024
nairalanda1:


IMma going to tell all of you a harsh truth...almost all African currencies are a mess. Even the SA rand.

The problem is, most African countries are not massive industrial producers. Either they are funding themselves on debt or they sell resources whose prices they do not control. EIther way, it means that there isn't enough forex flowing in to keep the economy strong.

We can cry about it, and say we want to remove ourselves from dollars. But everyone, including many Africans, wants dollars for international trade.
why is the Seychellois Rupees (SCR), Botswana Pula (BWP),Eritrean Nakfa (ERN), Lesotho Lotis (LSL) and the Namibian Dollar (NMD), not performing poorly like the naira in the 7 month? Their currency should be falling like the naira
nairalanda1(m): 6:12am On Feb 26, 2024
Paraman:
why is the Seychellois Rupees (SCR), Botswana Pula (BWP),Eritrean Nakfa (ERN), Lesotho Lotis (LSL) and the Namibian Dollar (NMD), not performing poorly like the naira in the 7 month? Their currency should be falling like the naira

Are the above currencies accepted for international payments?

Obviously not.

1 Like

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