abagoro:
I just tried to change some money a couple of minutes ago at Hotel Presidential "Hausa De Change" in Port Harcourt and they priced me 245 telling me they have for sale at 250.

AngryNigerian:
For those that always hike prices of goods/services, basing it on dollar increase....hope say una don hear am! Expecting it to hit 200 soon!!!

Now, where's this economist who was ranting here about oil this, balance of trade that? You see that it was just an artificial hike, just like in petrol stations!!

AngryNigerian:
For those that always hike prices of goods/services, basing it on dollar increase....hope say una don hear am! Expecting it to hit 200 soon!!!

Now, where's this economist who was ranting here about oil this, balance of trade that? You see that it was just an artificial hike, just like in petrol stations!!

chinchum:
It is not entirely artificial, demand of dollar for import has actually declined. Many importers of goods simply stopped demanding at 400, as there is little possibility they can make profit at that margin.

koboko69:


His submissions are 100% correct. Weather artificial or super ficial or whatever. It was clearly stated that demand was also greater than supply....the supply was the one being hoarded to force Buhari to devalue.Drop in oil price still plays a major role. Our forex is mostly gotten from oil sales.
So where did he ere in what he was saying?

koboko69:


His submissions are 100% correct. Weather artificial or super ficial or whatever. It was clearly stated that demand was also greater than supply....the supply was the one being hoarded to force Buhari to devalue.Drop in oil price still plays a major role. Our forex is mostly gotten from oil sales.
So where did he ere in what he was saying?

AngryNigerian:
For those that always hike prices of goods/services, basing it on dollar increase....hope say una don hear am! Expecting it to hit 200 soon!!!

Now, where's this economist who was ranting here about oil this, balance of trade that? You see that it was just an artificial hike, just like in petrol stations!!

asha80:
in that case the fall should have been gradual but this fall is steep.Something else has to be behind it

sambisaman:
i dont think that this is a good news. The naira is at it's weakest this times because it is very volatile. Don't be surprised to see it sell at 320 tomorrow.

No investor would want to put his money down in a currency as unstable as the Naira ATM.

chinchum:
So what if buhari had devalued to like 270, according to those dundee big coat wearing economists that regurgitate paper economics they learnt from bretton woods institution, without attempting to streamline knowledge with native intelligence ?

I believe buhari has managed our tough times well enough, and the drought we are in will be over sooner than later.

abagoro:


Its too early to celebrate. We don't know the source of the miracle. Are we sure our foreign reserves have not been badly touched?