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Nairaland Forum / Nairaland / General / Business / Naira Depreciates Against Major Currencies (31798 Views)
Naira Depreciates Further As Dealers Await New FX Regime / Naira Depreciates To N355/$ / Naira Depreciates Barely 48 Hours After It Strengthened Against The Dollar (2) (3) (4)
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Re: Naira Depreciates Against Major Currencies by Nobody: 6:12pm On Jun 22, 2015 |
donholy28: Some people say illiterate is a disease.But don wanna biliv u r one. See before naira can appreciate as propounded by PMB. The following need to be fixed... 1..Repair all refineries 2..fix power 3..diversity the economy from oil. 4..killed corruption. 5..stop oil theft. 6...Take back stolen funds from everyone involved in last regime 7..stop leakage from custom,firs,vat and other income generating avenues Once all above are done,there will be enough money to fix basic social infrastructure like roads,unemployment,education,hospital etc. With all these the naira will naturally slide positive.. Olodo 2 Likes |
Re: Naira Depreciates Against Major Currencies by Nobody: 6:15pm On Jun 22, 2015 |
Mogidi:. Mogidi, please we don't want N400 to a dollar, do you want us to migrate to Niger? 1 Like |
Re: Naira Depreciates Against Major Currencies by Nobody: 6:15pm On Jun 22, 2015 |
donholy28:Leave how i look, convince me that he categorically said it as you have claimed. Have watched it and it does not state more than that quotation. I want where i can quote him just like dis "i will make 1dollar equal to 1naira" or any other statement which means same. Its sounds like am defending him to you because i read and understood perfectly. If dollar rises against naira, we should hold him responsible cos following what he said, he must do something to drastically increase naira against dollar but not to the extend of making 1dollar equal to 1naira, cos he didnt say anything of such. He must be criticized and held responsible for whatever goes wrong in the country not minding the genesis of such abnormality. 2 Likes |
Re: Naira Depreciates Against Major Currencies by ifyan(m): 6:16pm On Jun 22, 2015 |
Re: Naira Depreciates Against Major Currencies by ifyan(m): 6:18pm On Jun 22, 2015 |
Re: Naira Depreciates Against Major Currencies by Mogidi: 6:20pm On Jun 22, 2015 |
ECOTERRORS: With bubunomics we'd be happy it stays at N400 |
Re: Naira Depreciates Against Major Currencies by ManTiger(m): 6:27pm On Jun 22, 2015 |
donholy28:The foolish Olodo man will rule your Fada who is a Professor till 2023! |
Re: Naira Depreciates Against Major Currencies by FOLYKAZE(m): 6:37pm On Jun 22, 2015 |
donholy28: All these is a trantrum suffered from post-election lost 1 Like |
Re: Naira Depreciates Against Major Currencies by Karleb(m): 6:38pm On Jun 22, 2015 |
If there's anything the majors are known for, it should be their strength. I knew the Dollar only retraced when Naira's bid price against USD dropped to N197. I just pity whoever believed the $1 to N1 scam! 1 Like |
Re: Naira Depreciates Against Major Currencies by EmekaBlue(m): 6:39pm On Jun 22, 2015 |
sia bubu 1 Like |
Re: Naira Depreciates Against Major Currencies by Nobody: 6:43pm On Jun 22, 2015 |
I don't know why Nigerians are blaming Buhari.. you saw the Naira Slide since 1988 from N10-$1 to N220 -$1 una dey sleep.. maggots 2 Likes 2 Shares |
Re: Naira Depreciates Against Major Currencies by hahn(m): 6:47pm On Jun 22, 2015 |
voltron: Question of the year! 2 Likes |
Re: Naira Depreciates Against Major Currencies by wethebest(m): 6:51pm On Jun 22, 2015 |
Re: Naira Depreciates Against Major Currencies by TopHand: 6:53pm On Jun 22, 2015 |
donholy28:you too see your mouth you like for free too much, sit don there dey wait for dollar to equal naria you just begin your journey |
Re: Naira Depreciates Against Major Currencies by prospero5(m): 6:56pm On Jun 22, 2015 |
seunlayi:na wa o 1 Like |
Re: Naira Depreciates Against Major Currencies by Feranmicharles(m): 7:00pm On Jun 22, 2015 |
wethebest:hehehehe don't tel me that u r one |
Re: Naira Depreciates Against Major Currencies by Atlantian: 7:03pm On Jun 22, 2015 |
Are we going the way of Zimbabwe ? Does our President Dullard and Vice President Commissioner have a common-sense on economic modules to tame the tides of the marginal fluctuation of our legal tender. Should relocate to Ghana until literacy override the daftness of illiteracy ? Should we all send our kids to abroad and live in a jungle that we so delight in voting a pastor commissioner and a jihad dullard ? We are doomed if something isnt done. 1 Like |
Re: Naira Depreciates Against Major Currencies by dazzysleek(f): 7:07pm On Jun 22, 2015 |
CR77:this is just d beginning of CHANGE...APC scam! 3 Likes |
Re: Naira Depreciates Against Major Currencies by Nobody: 7:16pm On Jun 22, 2015 |
free2ryhme:U no been hear? U no been see? Hohhohohohohohoo...mek I laf for Portuguese! "APC Change"! 2 Likes |
Re: Naira Depreciates Against Major Currencies by 989900: 7:22pm On Jun 22, 2015 |
I posted the below some weeks ago: "Going forward, the Central Bank of Nigeria (CBN) should be more responsible in the management of the monetary policy. For instance, the CBN’s harebrained policy of monetising the monthly, statutory foreign exchange allocations due to the various tiers of government, distorts our macroeconomy on so many levels. It creates excess liquidity by flooding the money market in one fell swoop with a surfeit of Nigerian Naira that now turns around to shop, sometimes inordinately, for foreign exchange, goods and services, etc, thereby worsening the exchange rate and inflation rate at the same time. It also creates the bizarre situation of so-called ballooning “foreign exchange reserves” of the Nigerian Federation whereas what we are actually referring to is the foreign exchange holdings of the Central Bank of Nigeria, i.e. the countervalue of the cumulative Naira transfers to the various federating units over time." Hence the absurdity of Federal Government continuing to borrow, even in the face of so-called robust “foreign exhange reserves” in the sum of tens of billions of dollars. A more realistic approach of monetising foreign exchange allocations to the federating entities would probably be to disburse foreign exchange vouchers to the respective beneficiaries which could be redeemed for Naira as and when needed. Futhermore, the above referred modus would, over time, ensure that both the interest rate and inflation rate fall to the desired single digit. This singular reform would go a long way to revert the economy to equilibrium." 1. Do the above. 2. Get the refineries working so we stop importing refined products, rather, exporting refined products. 3. Review importation of food, and some other silly items. 4. Improve power supply. 5. Encourage exports (all). 6. Work on security. 7. Attack corruption and stealing of public funds. 8. Checkmate currency racketeering from the FG, CBN, banks, NNPC, BDCs, to independent racketeers. Do 90% of those, and watch the Naira trade at N85-N125/$1 within 3-6 months. 2 Likes |
Re: Naira Depreciates Against Major Currencies by CR77(f): 7:31pm On Jun 22, 2015 |
Dem never see anything dazzysleek: 2 Likes |
Re: Naira Depreciates Against Major Currencies by manny4life(m): 7:41pm On Jun 22, 2015 |
Haha, I hope they are prepared for change... This change is gonna great. In another news, President Buhai wants to remove fuel subsidy? I thought there was no subsidy? Why removing something that's nonexistent? Wasn't this removal part of GEJ's plan? Nigerians should prepare for a bumpy ride because the next four years is gonna great. 2 Likes |
Re: Naira Depreciates Against Major Currencies by kgr8mike(m): 7:52pm On Jun 22, 2015 |
wisefizz: Wait only if u can trek to the horizon- where the cloud and the earth met. If u can then wait but if not it is only an illusion. You have been scammed. GEJ smiles and I smile. 1 Like |
Re: Naira Depreciates Against Major Currencies by Nobody: 8:00pm On Jun 22, 2015 |
free2ryhme: U seem not to get the point, buhari said he will make 1 naira = 1 dollar. Do the math. 1 Like |
Re: Naira Depreciates Against Major Currencies by Chamber10(m): 8:14pm On Jun 22, 2015 |
:oThis is serious 1 Like |
Re: Naira Depreciates Against Major Currencies by tsdarkside(m): 8:19pm On Jun 22, 2015 |
Mogidi: buhari dont understand economics...did he realy promised to make 1Naira = 1Dollar?? i dont know how,he want to do that...i dont understand economics.... 2 Likes |
Re: Naira Depreciates Against Major Currencies by Akpan107(m): 8:41pm On Jun 22, 2015 |
free2ryhme:Owerri – The All Progressives Congress (APC) presidential candidate, Gen. Muhammadu Buhari, on Monday said he would ensure that the Naira was equal to the dollar in value, if voted into office. Buhari stated this during the South-East presidential rally of the party at Dan Anyima Stadium, Owerri. “It is sad that the value of the naira has dropped to more than N230 to one dollar; this does not speak well for the nation’s economy,’’ he said. He urged the people to vote for APC, noting that he would ensure that corruption was tackled headlong if elected. Earlier, Gov Rochas Okorocha had urged APC supporters to vote for the party’s candidates at all levels, noting that a vote for Buhari without support to others at the state would amount to nothing. Okorocha said Buhari would address the problem of electricity, bring back the kidnapped Chibok girls and promote industrial growth. He said that Buhari was loved by the people in the region and urged them to elect him and other APC candidates during the March 28 and April 11 general elections. Former governor of Anambra, Mr Chinwoke Mbadinuju and former Minister of Education, Chinwe Obaji, were formally welcomed to the APC at the rally. The rally was attended by APC supporters from Abia, Ebonyi, Anambra, Enugu and Imo. (NAN) |
Re: Naira Depreciates Against Major Currencies by free2ryhme: 9:13pm On Jun 22, 2015 |
hijodedios: You should go take your drugs You are getting worse by the seconds |
Re: Naira Depreciates Against Major Currencies by passionate88: 9:13pm On Jun 22, 2015 |
Gegz:They called Pres. Jonathan all sorts of names, why shouldn't we return the favour? An eye for an eye and a tooth for a tooth.... Tit for tat... The nexy four years will be fun 1 Like |
Re: Naira Depreciates Against Major Currencies by Nicepoker(m): 9:17pm On Jun 22, 2015 |
booqee:of cos that's what u are. |
Re: Naira Depreciates Against Major Currencies by okeke00(m): 9:18pm On Jun 22, 2015 |
kudos to our new president. during GEJ tenure. Rev Mbaka said that he is badluck, that he met our naira and our naira loos it value. i wonder what he will say about this one now 1 Like
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