Originally Posted by PETERICHY
When USD was approaching N300 CBN and their cohorts fuelled a rumour of FOREX supply and there was 3days panic sell-off which crashed the rate to almost N200 before the journey continue.
The same scenario repeated when USD was approaching N400 they use the same FOREX supply story to crash it back to N300 before the journey resumed,
The same tactics was applied 2weeks ago which saw USD crashed from N525 to N425 now its back to N470 and the NAIRA journey to GOLGOTHA resumes.
So with the aforementioned TRENDS cum CBN Shenanigans you need no soothsayer to tell you that USD next port of call is N600.
There is a wide gulf between hoping for something to happen and it actually happening, I know you've been on the N1000 train for a while but you should consider what is happening in the macroeconomy of the nation in the periods you are comparing. One was characterized by reducing FX reserves and lack of CBN intervention, the other is characterized by increasing reserves and active CBN intervention......Look also at oil production and oil prices in the interim plus the ND has been peaceful since at least December. Since late October, the FX reserves has gained over $6b and is now slightly above the level it was when this government took office with significantly higher oil prices.
Anybody who still chooses to speculate on the Naira right now does so at his own risk. I go dey laff when people go begin dey sell dem underwear, the people who lost N45b last week still dey lick dem wounds and I have a feeling they won't be joining in the speculation this time.