Re: Naira Drops To 313.5 As Dollar Shortage Persists by lordkay10(m): 12:01pm On Feb 10, 2016 |
bedspread: With the manner our. Naira de fall, it remembers reminds me of Zimbabwe!! |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by kellsblingsz(m): 12:02pm On Feb 10, 2016 |
In my business, the money i use to buy 2 containers last 2yr is not even enough to buy 1 container now....which way Nigeria? We are slowly fading away.. 9 Likes 1 Share |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by onatisi(m): 12:02pm On Feb 10, 2016 |
I’ll make Naira equal in value to dollar, says Buhari On March 23, 20158:31 pmIn News by adekunleComments 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. Read more at: http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/ 7 Likes 1 Share
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Re: Naira Drops To 313.5 As Dollar Shortage Persists by henrybomb(m): 12:04pm On Feb 10, 2016 |
tolexy007: The naira dropped further to 313.5 against the United States dollar at the parallel market on Tuesday as shortage of foreign exchange, especially the greenback, persists in the forex markets.
The local currency had traded for 310 to a dollar on Monday.
On Tuesday, the naira closed at 199.40 to the dollar on the interbank market, according to Reuters, around the peg rate of 197 to the dollar.
This came just as the interbank lending rate rose to two per cent from one per cent on Monday, after the Central Bank of Nigeria had directed commercial banks to fund their naira accounts ahead of its intervention in the forex market on Thursday.
The overnight lending rates jumped by 100 basis points as the movement of naira cash for forex purchases drained liquidity in the financial market.
The CBN intervenes once a week at the interbank forex market to provide dollar liquidity for some eligible importers.
The naira had plummeted against the dollar last month after the CBN banned dollar sales to Bureau De Change outlets and later stopped daily sales to the interbank market.
The measures were aimed at conserving the nation’s external reserves, which have hit an 11-year low at $28bn.
“The overnight rate went up today to three per cent in the early trade but declined to two per cent after some banks funded their forex accounts,” one dealer said.
The interbank rate mirrors the level of naira liquidity in the banking system.
Traders said commercial lenders’ credit balance with the central bank opened at N978bn ($4.94bn) on Tuesday before the bank called for the funding for forex purchases.
The central bank requires banks to fund their forex account 48 hours in advance of its intervention.
http://www.punchng.com/naira-drops-to-313-5-as-dollar-shortage-persists/
Cbn governor and PMB can u see ur life? u stop sales of forex to d bureau de change stating that they are fraudster and also claiming that they caused d fall in naira to dollar...now tell us what is the cause of this one naw,maybe una go close all d banks for nigeria so dat d naira go stabilize again..mtcheww 5 Likes 1 Share |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by Faith111: 12:05pm On Feb 10, 2016 |
I remember when #1=$1....Buhari #APC Campaign Strategy# I thought this was what Change was about ![](/faces/huh.png) What a Shame ![](/faces/huh.png) 8 Likes 1 Share |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by tgmservice: 12:06pm On Feb 10, 2016 |
I don't understand I was at d bank the other day to trade some dollars and they said they are trading @ only 199naira to a dollar despite the increase rate I read abt everyday |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by Nobody: 12:07pm On Feb 10, 2016 |
1 Like |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by henrybomb(m): 12:08pm On Feb 10, 2016 |
onatisi: I’ll make Naira equal in value to dollar, says Buhari On March 23, 20158:31 pmIn News by adekunleComments Owerri – The All Progressives Congress (APC) presidential candidate, Gen. Muhammadu Buhari, on Monday said he would ensure that the Naira was equal to the dollar in value, if voted into office. Buhari stated this during the South-East presidential rally of the party at Dan Anyima Stadium, Owerri.
Read more at: http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/ Our leaders forget ppl r listening when dey r talking..tinz dey can't do that is what they will do..#carelesstalk |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by vizboy(m): 12:08pm On Feb 10, 2016 |
Lies I bought at the rate of 315 per dollar 7 Likes 1 Share |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by TolaniLuv: 12:09pm On Feb 10, 2016 |
Buhari where re thy? You no fit turn 1$ to 1 naira again ? Illiterate ![angry](https://www.nairaland.com/faces/angry.png) 6 Likes |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by demosoft: 12:10pm On Feb 10, 2016 |
Hmmm |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by Amiano(m): 12:10pm On Feb 10, 2016 |
Dat is wat u get wen u hav a president wit F9 in economics 3 Likes |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by Nbote(m): 12:11pm On Feb 10, 2016 |
Dis is exactly d kind of thread d zombies will avoid like a plague. Well, on behalf of d zombies and d govt allow me to say "Blame GEJ".. Ebele why ![](/faces/huh.png) 6 Likes 1 Share |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by eeeeeee: 12:12pm On Feb 10, 2016 |
GetOvaMe: When Buhari is through with Nigeria, there will be no use stealing the naira as it will have no value!
President Buhari is, Indeed, winning the anti-corruption war.
Sai Baba! 16 Likes 2 Shares
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Re: Naira Drops To 313.5 As Dollar Shortage Persists by Ephemmm: 12:14pm On Feb 10, 2016 |
Know2020: This country is finished!
[s]Let me see the twit that will invoke GEJ. GEJ left office with naira to dollar at 210 and today it's 313. WTF? GEJ inherited naira to dollar from Yaradua at 165, it stayed at this rate +/-15 for 4 yrs, it was only towards the end of 2014 that we began to see fall in naira largely caused by those who are bent on sabotaging his achievements to make sure he doesn't get re-elected. Compare dollar to naira lost in value under GEJ from 165 to 210 within 4-5 yrs span...that's very reasonable. However under Buhari from 210-313 in barely 6 months? This is disastrous...an invitation to anarchy. Same goes for fuel scarcity, there was never a fuel scarcity under GEJ except for his last few months in office, again largely perpetrated by the same very savages who are bent on making sure he never got re-elected.
You noticed how yorubas are quiet all of a sudden? Because their sister Kemi Adeosun is at the helm of the finance. They are already making excuses for Fashola...see 3rd topic now on front page. Hypocrites! [/s] You forgot to add that Nigerians are still suffering from the dollarization of the economy by your ineffectual buffon who suddenly becomes an ATM dispensing hard currency during the last election.Thrash........... 7 Likes 3 Shares |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by eeeeeee: 12:14pm On Feb 10, 2016 |
I wonder what the clueless minister is doing to forestall this free fall. 3 Likes 1 Share |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by amtaken(f): 12:16pm On Feb 10, 2016 |
1 kobo change.
Mad fifu. |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by justi4jesu(f): 12:16pm On Feb 10, 2016 |
1 Like |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by amtaken(f): 12:17pm On Feb 10, 2016 |
OP may God bless your entire generation. Know2020: This country is finished!
Let me see the twit that will invoke GEJ. GEJ left office with naira to dollar at 210 and today it's 313. WTF? GEJ inherited naira to dollar from Yaradua at 165, it stayed at this rate +/-15 for 4 yrs, it was only towards the end of 2014 that we began to see fall in naira largely caused by those who are bent on sabotaging his achievements to make sure he doesn't get re-elected. Compare dollar to naira lost in value under GEJ from 165 to 210 within 4-5 yrs span...that's very reasonable. However under Buhari from 210-313 in barely 6 months? This is disastrous...an invitation to anarchy. Same goes for fuel scarcity, there was never a fuel scarcity under GEJ except for his last few months in office, again largely perpetrated by the same very savages who are bent on making sure he never got re-elected.
You noticed how yorubas are quiet all of a sudden? Because their sister Kemi Adeosun is at the helm of the finance. Had this drastic dollar free fall been happening under Iweala? Oh lord...they will be calling for head not even resignation. They are already making excuses for Fashola to downplay the expectations on him...see 3rd topic now on front page. Hypocrites! 13 Likes 1 Share |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by Nobody: 12:19pm On Feb 10, 2016 |
An excessively import - dependent nation will have its currency keep weakening.
There's NO prosperity without the production of goods and services. 6 Likes 3 Shares |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by onatisi(m): 12:19pm On Feb 10, 2016 |
henrybomb:
Our leaders forget ppl r listening when dey r talking..tinz dey can't do that is what they will do..#carelesstalk We warned Nigerians 6 Likes
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Re: Naira Drops To 313.5 As Dollar Shortage Persists by amtaken(f): 12:20pm On Feb 10, 2016 |
Sai baba utu nshi.
Mxm. 6 Likes 1 Share |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by Justinah4real(f): 12:21pm On Feb 10, 2016 |
Nienie: chisos One Chance. Very soon 1000naira = 1dollar. Thank me latter. 2 Likes |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by nuelyoyo(m): 12:23pm On Feb 10, 2016 |
tgmservice: I don't understand I was at d bank the other day to trade some dollars and they said they are trading @ only 199naira to a dollar despite the increase rate I read abt everyday when u say trade, do u mean u went to sell or buy? Coz I know banks will easily buy foreing currency from pple at the official price but hardly sell to pple at the officiall selling price. The will rather sell to top importers who have greased their palms, or do the usuall round tripping to the black market and make more money. So be specific, did u go to the bank to sell or buy? 1 Like |
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Re: Naira Drops To 313.5 As Dollar Shortage Persists by bigass(f): 12:24pm On Feb 10, 2016 |
Know2020: This country is finished!
Let me see the twit that will invoke GEJ. GEJ left office with naira to dollar at 210 and today it's 313. WTF? GEJ inherited naira to dollar from Yaradua at 165, it stayed at this rate +/-15 for 4 yrs, it was only towards the end of 2014 that we began to see fall in naira largely caused by those who are bent on sabotaging his achievements to make sure he doesn't get re-elected. Compare dollar to naira lost in value under GEJ from 165 to 210 within 4-5 yrs span...that's very reasonable. However under Buhari from 210-313 in barely 6 months? This is disastrous...an invitation to anarchy. Same goes for fuel scarcity, there was never a fuel scarcity under GEJ except for his last few months in office, again largely perpetrated by the same very savages who are bent on making sure he never got re-elected.
You noticed how yorubas are quiet all of a sudden? Because their sister Kemi Adeosun is at the helm of the finance. Had this drastic dollar free fall happened under Iweala? Oh lord...they will be calling for her head not even resignation. They are already making excuses for Fashola to downplay the expectations on him...see 3rd topic now on front page. Hypocrites! Hmmm the reason dollar fell under Jonathan was Oil Price fall. Same reason is why dollar is falling Under Bubu 1 Like |
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Re: Naira Drops To 313.5 As Dollar Shortage Persists by MyMouth(m): 12:31pm On Feb 10, 2016 |
Kenai: Now that the Naira is 313 per dollar, I'd like to refresh your memories with some of the hypocritical comments made by the former "activists", better known today, as Buharists... ![grin](https://www.nairaland.com/faces/grin.png)
I'll be focusing on some posts made on this thread created during GEJ's tenure titled "Naira Now 172 To A Dollar. Why?"
Number 1
My broda, it took all of 16 Years for Naira to fall to 172 under PDP, but JUST 8 months to fall to 313 (141 steps!) under APC. Choi! In that case, God only knows how many wheelbarrows of money we'll be needing to buy a sachet of Milo after 16 years of APC.
Number 2
Today, this dude is mute
Number 3
Bros, how far naa? GEJ has left oh. Now we have the Budget of Yams... But wait, did NOI cause it too?
Number 4
Well, we now hear "FeBuhari. Nothing's still changed.
Number 5
It's 313 now nigga. How about that? ![grin](https://www.nairaland.com/faces/grin.png) Boomerang effect from years of PDP misrule! ![undecided](https://www.nairaland.com/faces/undecided.png) Kenai: Now that the Naira is 313 per dollar, I'd like to refresh your memories with some of the hypocritical comments made by the former "activists", better known today, as Buharists... ![grin](https://www.nairaland.com/faces/grin.png)
I'll be focusing on some posts made on this thread created during GEJ's tenure titled "Naira Now 172 To A Dollar. Why?"
Number 1
My broda, it took all of 16 Years for Naira to fall to 172 under PDP, but JUST 8 months to fall to 313 (141 steps!) under APC. Choi! In that case, God only knows how many wheelbarrows of money we'll be needing to buy a sachet of Milo after 16 years of APC.
Number 2
Today, this dude is mute
Number 3
Bros, how far naa? GEJ has left oh. Now we have the Budget of Yams... But wait, did NOI cause it too?
Number 4
Well, we now hear "FeBuhari. Nothing's still changed.
Number 5
It's 313 now nigga. How about that? ![grin](https://www.nairaland.com/faces/grin.png) Boomerang effect from years of PDP misrule! 1 Like |
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Re: Naira Drops To 313.5 As Dollar Shortage Persists by Remii(m): 12:36pm On Feb 10, 2016 |
dbucas: ****
there was no Naira in 1970 when war ended. The Naira was introduced on 1 January 1973, replacing the pound at a rate of 2 naira = 1 pound. 2 Likes |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by LastSurvivor: 12:41pm On Feb 10, 2016 |
Naira will soon discover oil the way it's going deep.. 2 Likes |
Re: Naira Drops To 313.5 As Dollar Shortage Persists by Pesuzok(m): 12:43pm On Feb 10, 2016 |
Know2020: This country is finished!
Let me see the twit that will invoke GEJ. GEJ left office with naira to dollar at 210 and today it's 313. WTF? GEJ inherited naira to dollar from Yaradua at 165, it stayed at this rate +/-15 for 4 yrs, it was only towards the end of 2014 that we began to see fall in naira largely caused by those who are bent on sabotaging his achievements to make sure he doesn't get re-elected. Compare dollar to naira lost in value under GEJ from 165 to 210 within 4-5 yrs span...that's very reasonable. However under Buhari from 210-313 in barely 6 months? This is disastrous...an invitation to anarchy. Same goes for fuel scarcity, there was never a fuel scarcity under GEJ except for his last few months in office, again largely perpetrated by the same very savages who are bent on making sure he never got re-elected.
You noticed how yorubas are quiet all of a sudden? Because their sister Kemi Adeosun is at the helm of the finance. Had this drastic dollar free fall happened under Iweala? Oh lord...they will be calling for her head not even resignation. They are already making excuses for Fashola to downplay the expectations on him...see 3rd topic now on front page. Hypocrites! Dont be economical with the truth. That was caused by the decline in the price of crude oil with has persisted even with the new govt. Please say the truth and dont politicise everything 4 Likes |