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Nairaland Forum / Nairaland / General / Business / Dollar Hits All-time Low, Crosses N1,500 At Official Market (27551 Views)
Dollar Hits ₦1,900; Pound, ₦2,250 / Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market / Naira Hits All-Time Low Of ₦1,152/$1 In Black Market (2) (3) (4)
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Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Akinpresident: 2:00pm On Feb 13 |
bestman09:
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Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by onuman: 2:01pm On Feb 13 |
Winning123: Another Tinubu ass licker. You float the Naira to the death of millions of Nigerians from starvation. You float the Naira but millions of Nigerians die for that; what's in your head? Economic planning is about bettering the lives of citizens. 2 Likes 1 Share
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Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Kelvin5214: 2:04pm On Feb 13 |
Even the promised agbado and enimorin is not available |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by BreconHills(m): 2:04pm On Feb 13 |
Kukutenla: I think so bro ( nobody can 100% say with NG) Diaspora remittances account for the largest amount of incoming fx receipts, greater than crude oil. Unfortunately those monies are coming in through sources which don't contribute to liquidity. They just feed black market and domestic hoarding. If I was the CBN I would follow up current actions by creating an API that all fintechs and IMTO need to use to bring fx into Nigeria. This would allow CBN track inflow and even add a small transaction charge. What do you think? 2 Likes |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Iamblessed85: 2:04pm On Feb 13 |
ogododo: I just checked your post history. No single positive news. It’s either you’re a kid who does not understand the implications of negative reporting, or you’re a not soo bright adult who is bitter with the present govt or you’re an opposition agent. Remember, pdp also ruled for 16 years and they weren’t any better. Stop posting negative news all the time. Everytime naira hits record low. What does it benefit you? 1 Like |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by fuck419: 2:06pm On Feb 13 |
abhosts: TELL YOUR FRIEND TO SELL HIS INVESTMENT IN THE REAL ESTATE. HE IS NOT AT ANY LOSS BUT IN A SUPPER PROFIT. |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by WhiteWood: 2:06pm On Feb 13 |
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Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Kukutenla: 2:06pm On Feb 13 |
BreconHills:You actually think CBN don't track fx inflows? I think not |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by JustPowerApps(m): 2:09pm On Feb 13 |
Since when, be like Nairaland is a bit backward too, this is last week news nah 1 Like |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by tommy589(m): 2:09pm On Feb 13 |
AyeMoJuba: Official rate is now higher than bdc. There is no genuine business owner that would buy at an higher official rate than what's obtainable at the parallel market. Who are those buying the dollars when traders are unsure of selling and replenishing their stocks. Is it impossible for them to figure out that local money laundering is happening right before their eyes? some people are mopping up the dollar with over printed naira from Buhari era. And there is a way out if they think well |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Malroux: 2:11pm On Feb 13 |
Jackson105:Jackson longest time? You might not remember! |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by SSpeter(m): 2:11pm On Feb 13 |
Winning123:the value of the property went up from 72m to 200m, however the rate of devaluation was higher which eroded the profit he has made. If he wants to divest for instance his initial 200usd is now worth 135usd. He made a loss 3 Likes 1 Share |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by dettolgel: 2:14pm On Feb 13 |
abhosts: I feel sorry for your friend. I worked in the bank before I left the country more than a decade ago. I understand foreign exchange risk. Every investment I made in Nigeria I ensure that I don't have the need to repatriate the proceeds. Even as far back as 2009/2010 unless you are repatriating your funds within a short window you are still faced with foreign exchange risk ( I must admit it is a nightmare now even big investors that could pay for forward deals to hedge their fx risk do not have any reasonable level of guarante). I fear for the future of this country. 1 Like 1 Share |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by SEO2002: 2:15pm On Feb 13 |
SuperEagles:keep supporting the druggie. F000lish b@stard, just like your D!try mother. 2 Likes |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by CockPit(m): 2:18pm On Feb 13 |
EreluRoz: Revolution against your darling Tinubu? What an hypocrite! 1 Like |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by fuck419: 2:18pm On Feb 13 |
Where the CBN is getting it wrong: It's not enough to insist that Dollar inflows be converted to Naira and restrict any use of Dollar domestically. They need to also make it possible to easily convert the Naira to Dollar for those who export & import, those travelling and paying for academic related transactions. Failure to do so, those who currently have raw Dollar would definitely sell at a very high rate to those travelling. It does not end there, people would begin to bring in physical Dollar from other countries and sell at a very high rate. So invariably, the Dollar would continue to appreciate against the Naira. 2 Likes 1 Share |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by dettolgel: 2:20pm On Feb 13 |
Iamblessed85: Your accusations of his motives might be right but you are not any different from him. You never provided any concrete counter to his post rather you just rant either because you are too childish to form a coherent thought or too hate fill to form your thoughts in a constructive way. 2 Likes |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by SSpeter(m): 2:21pm On Feb 13 |
WhiteWood:you are wrong and do not understand what he wrote...you invest 200k USD which is 72m in Naira @360 as at today the value of the investment is 200million Naira; however Naira has devalued from 360-1500 against the dollar. Hence, the real estate worth is 200million/1500naira which gives you 133k USD the guy has lost almost 67k USD in that investment 1 Like |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by CockPit(m): 2:22pm On Feb 13 |
Ogiame: Don't mind the brainless mofo. She was campaigning tirelessly for Tinubu during election and abusing everyone who does not see through her tunnel vision. Now the dingbat is screaming revolution as if she knows what it means. Tinubu is no longer her darling. 4 Likes |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Iamblessed85: 2:23pm On Feb 13 |
dettolgel: I dont have any agenda. I am just an ordinary citizen. Yes the govt has failed me in many ways but just dont want to fill my head with negative news all the time. Think about this. What good does this negative reporting do? You will be shocked that this dollar increase is even driven in part by propaganda. Dollar increases, so what. I live in a naira country. I dont spend usd. Yes the impact is there but perspective is everything. |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by dettolgel: 2:24pm On Feb 13 |
EreluRoz: Enemy of the people. This is an agent of the state. This is a ploy to fish out those against the government so that the state security apparatus will quench it even before it takes off. Please do not fall for this gimmick. Be on the alert everyonen there are a lot of people like him working for the state. They use this platform to read the pulse of the youth. |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by blaise26abj(m): 2:25pm On Feb 13 |
abhosts: The only way it will make sense is if he doesn’t take back the money and uses it for rent or shortlet for now . For other foreign investors , it is sad reality . The market is there , but the moment you want to change your investment into dollars , you are in trouble . The Nigerian market is doing well . Our major problem is our cravings for imported materials . If you deal in naira only or produce something locally without or with little need for fx, you will sell tire . 1 Like |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by t2luv1: 2:25pm On Feb 13 |
IduNaOba: Reading a posting like this makes me be appreciative that I left that Kosi Kosi country (Kosi owo, kosi ina, kosi omi always kosi kosi) when I was young. The country is dying and all this piece of sh*t could think of is some Southwest being President when your so call Southwest man is proving beyond reasonable doubt that he's incompetent, I am not an abortion supporter but for you, I am willing to make an exception. 2 Likes 2 Shares |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Agunesinjaweola: 2:26pm On Feb 13 |
If you live abroad, all you need to do is borrow $5000 and become N7,500,000 owners in Nigeria. As simple as that !! |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Ogiame: 2:26pm On Feb 13 |
CockPit:Eyes don blind, so mirror don REST. 1 Like |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by naijaboy756: 2:27pm On Feb 13 |
Lagos magician is magicking Lagos builder on the beat I am still amazed that someone can be worse than Buhari Tueeeeehh 1 Like 1 Share |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by dettolgel: 2:28pm On Feb 13 |
Iamblessed85: For each negative news he post I would post something positive no matter how small. To me that works better. I know the government has failed but deep inside I am sure there are some positive they are also doing. Just that bad news sells well 1 Like |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Yoighaman(m): 2:30pm On Feb 13 |
abhosts: Interesting analysis, at least this is clear for a layman to understand; sad thing is, this is just the beginning. Elections have consequences, that's all I'd say. 1 Like |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Agunesinjaweola: 2:30pm On Feb 13 |
abhosts:This is the Article of the Day ☝️ However, diasporans who had borrowed money to travel abroad finds it easy to pay back due to the falling state of NAIRA. The stability of the Dollars enable diasporans to remit less money to offset their burden debt and encourage them to work more and increase their purchasing power back home. Ditto for a foreign investors as well who could bring money inflows to the country but unfortunately, the reality on ground doesn't favour such. 2 Likes 1 Share |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by CaptainJune: 2:32pm On Feb 13 |
EreluRoz: Perish the thought. Igbos and (a small section of the Yorubas) did not put Nigeria into this mess. Those who voted him in should vote him out if they are serious. |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by dettolgel: 2:34pm On Feb 13 |
MT: I think for most Nigerians abroad that fall in that category their happiness is mostly from the fact that with just 10 dollars they can settle one or two billings. With 100 dollars they can take care of at least 5 people billing them. Unlike when 100 dollars will hardly go round. Yes the money may not go a long way to the biller but at least it is on record that the billee gave 5 billers 20k each. When it boils down to their own projects and family responsibilities everyone is crying. Because if you used to drop 100k for your parents now you have to triple it. 1 Like |
Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by BreconHills(m): 2:34pm On Feb 13 |
Kukutenla: There are some that are hard to track because there they are basically overseas private contracts. |
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