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Naira Crashes To ₦1,210 To US Dollar - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Crashes To ₦1,210 To US Dollar (32954 Views)

Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market / Naira Crashes To 1,030/$ As Speculators React / Naira Crashes To Record Low At Official Market (2) (3) (4)

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Re: Naira Crashes To ₦1,210 To US Dollar by Babangidapikin: 7:11pm On Oct 23, 2023
Why are we still having room for arbitrage opportunities despite Mr President's proclamation... Oya economist come and talk your own.
Even the Central Bank effort to allow certain products access forex officially is not helping matters ...
Until the President understand there is a difference between theoretical economic projection base on all things been equal and practical economic projection base on the fact that you are in a country where all things are never equal .. we won't get anywhere ... Nigeria need to have a National Economy Adviser Institute and they should operate with a motto to safe guard the Nigeria Economy at all cost even if they have to be Economic Hitmen in other clime ...

2 Likes

Re: Naira Crashes To ₦1,210 To US Dollar by djay81: 7:13pm On Oct 23, 2023
Good day everyone, I sell dollars and euros a little below the parrallel market rate and usdt as well. You can make profits daily buying from me and I know how we can trade securely without anyone getting scammed. Dm me if interested
Telegram and SMS message ;09011042995
Re: Naira Crashes To ₦1,210 To US Dollar by shedy03(m): 7:13pm On Oct 23, 2023
abhosts:
This is beginning to look like some people somewhere are sabotaging the economy. Call Buhari to account for our depleted foreign reserves.
If this govt no get solution to the problem, make them comot. Same APC has been blaming the govt b4 them.

2 Likes

Re: Naira Crashes To ₦1,210 To US Dollar by Brushstrokes20: 7:13pm On Oct 23, 2023
The shyyythole on a steady plunge!
What eBOLA cannot destroy does not exist undecided

1 Like

Re: Naira Crashes To ₦1,210 To US Dollar by Miracle2020: 7:13pm On Oct 23, 2023
BigBlackPreek:
like play like play, 1dollar would equals to 2k very soon ooo

ladies and gentlemen shall we
you de play. If it is 1200 in 3 months of tinubu administration how much do you think it will reach at 4 years? Just start thinking about 3000 to 5000.
The best investment now is to buy dollar and keep.
Tinubu will be the worst president in the history of this country.

3 Likes 1 Share

Re: Naira Crashes To ₦1,210 To US Dollar by TheKingsmann(m): 7:13pm On Oct 23, 2023
Thief-nubu will destroy this country finally, Buhari was a disaster, Tinubu will be the one to bury this country.

3 Likes 1 Share

Re: Naira Crashes To ₦1,210 To US Dollar by bluefilm: 7:13pm On Oct 23, 2023
The way they say crash, you'll think it's a good thing as in prices crashing down or stuff like that.

But in essence, it simply that we are now in that town hall he was talking about not so long time ago!

Or could there even be another town hall different from what we are seeing?
Re: Naira Crashes To ₦1,210 To US Dollar by yusman14(m): 7:13pm On Oct 23, 2023
fineboynl:
Nigeria needs to be divided. Northerners are bonding this country down. They vote base on ethnic And religious line. Now see where we are now. The hatred between ourselves and low IQ of black peoples is our biggest problem

This will continue to get worst as people rushing to save there money in dollars.

I will go buy dollar tomorrow
Pls sir can you explain the process of buying dollars
Re: Naira Crashes To ₦1,210 To US Dollar by Intergrated: 7:13pm On Oct 23, 2023
grin
Incognito9:
FreeStuffsNG

You won't share your free fall here abi 🤭 grin
Re: Naira Crashes To ₦1,210 To US Dollar by Coldie(m): 7:13pm On Oct 23, 2023
Between 1960 and 2015 Naira only crashed from #1 to #180.

Between 2015 and 2023 Naira crashed from #180 to #1210.

Apc nice job

13 Likes

Re: Naira Crashes To ₦1,210 To US Dollar by Angelfrost(m): 7:13pm On Oct 23, 2023
opamoses1:
Naira is finding its real value. No more padding it with $1.5 billion monthly.

It will surely stabilize then healing can begin.

Calm down with that borrowed theory which you barely understand. grin

Naira won't stabilize itself.

A massive and immediate increase in local production, sourcing and consumption will drastically diminish the need to purchase the Dollars, especially local refinery of petroleum products.

Imagine cutting off fuel importation by 50% or totally stopping the importation of fuel, food items, accessories, clothes, cars, etc... The Naira would be soaring within a fortnight.

9 Likes 2 Shares

Re: Naira Crashes To ₦1,210 To US Dollar by seguno2: 7:13pm On Oct 23, 2023
Vision101:
Don't mind them. It's all speculative buying. The banks are part of it. If this is reflective of the performance of the economy the smallest packet of biscuit would have been sold above #500.

So much round tripping is going on in the banks. Hopefully just one sudden policy with crash all these.

Very unfortunately some Nigerians announce the increase in dollar rate with glee as if it's blood.

Who are the people behind the roundtripping? The ones benefiting from it

What motivation are you giving them for this “sudden policy” change to happen?

2 Likes 1 Share

Re: Naira Crashes To ₦1,210 To US Dollar by pansophist(m): 7:13pm On Oct 23, 2023
Another pepper that is waiting for you is when you even have 20M naira to pay for maybe your school fees abroad, unto japa things, and all the banks refuse to exchange your naira to USD.

Then you watch how dollar increase everyday, devaluing your already worthless naira. Then you understand that you and your country are in deep soup.

Having millions of naira does not guarantee a successful japa anymore, having dollar is.

18 Likes 2 Shares

Re: Naira Crashes To ₦1,210 To US Dollar by DARLINGTON869(m): 7:14pm On Oct 23, 2023
I said it before. By March next year, dollar will be 2000 naira

2 Likes

Re: Naira Crashes To ₦1,210 To US Dollar by justli: 7:14pm On Oct 23, 2023
Remeber when Apc had just ascended to power and a pivture surfaced of Buhari the mechanic dismantling the country in order to fix it.
It is well

3 Likes

Re: Naira Crashes To ₦1,210 To US Dollar by Basicend: 7:14pm On Oct 23, 2023
Labour have not realized that a Tinubu will not drop the standard of lifestyle of himself or his cronies . . Neither will they drop their budgeted embezzlements. .

So, instead of addressing the leakages and wastage around them (i.e the executive and legislatures), they will rather recycle the burden upon the masses.

Look, you do not have a leader that is ready to make genuine sacrifices for the lifting of the nation and the quicker you realize that, the better for you to take a decision.

5 Likes

Re: Naira Crashes To ₦1,210 To US Dollar by DeathToSimps: 7:14pm On Oct 23, 2023
mrvitalis:
On your mandate we shall stand

Maybe most of you don't understand this

If you earned 200k as at may 29th .... The value of your salary is now about 100k
Not true

2 Likes

Re: Naira Crashes To ₦1,210 To US Dollar by wittywriter: 7:15pm On Oct 23, 2023
123readygo:
Hmmmmmmm.

My only regret is selling all my money in July at 730. Now I would have been cashing in
All you need do now is learn to earn in dollars or if you have capital(@least $500 or naira equivalent) learn to trade NFTs for a daily $30 to $50 profit.


SHOUTOUT TO ALL REMOTE/FX EARNERS!


Wittyness.
Re: Naira Crashes To ₦1,210 To US Dollar by hustla(m): 7:15pm On Oct 23, 2023
LOL by the time Tinubu is done with Nigerians, we go vexxxxxxxxxxx think as one pursue these thieving polithiefcians

1 Like 1 Share

Re: Naira Crashes To ₦1,210 To US Dollar by Mayeldah(m): 7:15pm On Oct 23, 2023
Supreme court please do the needful, we are not standing on this mandate again grin

2 Likes

Re: Naira Crashes To ₦1,210 To US Dollar by eepeepook: 7:16pm On Oct 23, 2023
Who exactly does this situation benefit? One thing I know about Nigeria is situations are quickly rectified if they affect everyone regardless of social class. Now, if a situation benefits the ruling class, nothing — not even God’s descent to fix it personally — will change the issue at hand.
Re: Naira Crashes To ₦1,210 To US Dollar by PrinceOfLagos: 7:16pm On Oct 23, 2023
ican2020:
I thought we have CBN governor oh he has nothing to offer

Master strategist where are thou cry cry cry
He's an empty head, has nothing to offer

2 Likes

Re: Naira Crashes To ₦1,210 To US Dollar by Angelfrost(m): 7:16pm On Oct 23, 2023
Nextt:


Economic Experts that are preparing to japa 😂😂

Hardship no dey hear english 😂

Preparing to wetin?!! Lol.

Most of them like Prof. Reno Omokri have no business or residence in Nigeria.

They stay in the comfort of another nation's flourishing economy to tell Nigerians what they should do about their economy... Na dem support these clueless and corrupt leaders pass. tongue

3 Likes

Re: Naira Crashes To ₦1,210 To US Dollar by Itsrm(m): 7:16pm On Oct 23, 2023
opamoses1:
Naira is finding its real value. No more padding it with $1.5 billion monthly.

It will surely stabilize then healing can begin.

CBN is still padding it. You don't have any single idea what you're saying.

2 Likes

Re: Naira Crashes To ₦1,210 To US Dollar by pansophist(m): 7:16pm On Oct 23, 2023
.

6 Likes 2 Shares

Re: Naira Crashes To ₦1,210 To US Dollar by Karleb(m): 7:16pm On Oct 23, 2023
grin grin
Re: Naira Crashes To ₦1,210 To US Dollar by seguno2: 7:16pm On Oct 23, 2023
Angelfrost:
Calm down with that borrowed theory which you barely understand. grin

Naira won't stabilize itself.

A massive and immediate increase in local production, sourcing and consumption will drastically diminish the need to purchase the Dollars, especially local refinery of petroleum products.

Imagine cutting off fuel importation by 50% or totally stopping the importation of fuel, food items, accessories, clothes, cars, etc... The Naira would be soaring within a fortnight.

Unfortunately the pretentious progressives are not going to do anything to privatise and deregulate our refineries and NNPCL.

The man who has made this his signature policy was mocked by our “experts”.
Re: Naira Crashes To ₦1,210 To US Dollar by 43Ronin: 7:17pm On Oct 23, 2023
Shijawesss:
Muslim-muslim ticket ..

We need a Christian leader to change this country

All the Muslims leaders have failed us

Any God bless the good people of Southsouth and Southwest
It is deliberate. the Jihadis are trying ro reduce everyone to penury so that only them would be empowered, thereby creating a feudal system where both economic, political & military power rest with them. So in order to become financially free you would rankadede, then change ur name from moses chukwu to musa chukwu. That's how the islamization is gona be.
Re: Naira Crashes To ₦1,210 To US Dollar by Enemyofpeace: 7:17pm On Oct 23, 2023
Emi lokan
Re: Naira Crashes To ₦1,210 To US Dollar by lomprico(m): 7:18pm On Oct 23, 2023
2k loading.........

Jagabaaaaaaaannn! Trailer! Tiri shots in the air, tawai!!! the slayer of anything good for the ordinary citizen. May your manhood live long. Odogwu! grin

1 Like

Re: Naira Crashes To ₦1,210 To US Dollar by Angelfrost(m): 7:18pm On Oct 23, 2023
seguno2:


Did this happen in Zimbabwe
Why not?

I'm sorry Chief... You lost me there. Could you kindly clarify your position?!

Thank you.
Re: Naira Crashes To ₦1,210 To US Dollar by Calitoscassius(m): 7:18pm On Oct 23, 2023
opamoses1:
Naira is finding its real value. No more padding it with $1.5 billion monthly.

It will surely stabilize then healing can begin.
What exactly does this mean in simple terms? for illiterates like me to comprehend. undecided

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