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Nairaland Forum / Nairaland / General / Business / Why Is The Naira Exchange Rate Always In The News (15943 Views)
Dollar-to-naira Exchange Rate Hits N1603.80 On Official FX Market / When The Naira Was Stronger Than US Dollar (Throwback) / ‘Anyone Caught Abusing The Naira Will Face Jail Terms’ – CBN Warns Nigerians (2) (3) (4)
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Re: Why Is The Naira Exchange Rate Always In The News by Bliztzer: 11:50am On Apr 25 |
diamond68: It is not even opening for me. Many scam is happening out there. |
Re: Why Is The Naira Exchange Rate Always In The News by NovusHomo(m): 11:50am On Apr 25 |
Gbadugbakun: ...and international trade (import and export) is carried out in $. Some are so quick to blame the present administration. It's strange how social media have turned the most unknowledgeabe, uninformed, unintelligent, and unteachable into "professors" of economics. But as they say, " you go explain tire" |
Re: Why Is The Naira Exchange Rate Always In The News by Superpack589: 11:50am On Apr 25 |
bestman09:You must be stupid. Why will you expose the name of someone you did business with on a public platform? |
Re: Why Is The Naira Exchange Rate Always In The News by babajero(m): 11:54am On Apr 25 |
flyinnizam:one word "propaganda ". |
Re: Why Is The Naira Exchange Rate Always In The News by saviourGeorge: 11:55am On Apr 25 |
specialmati: This was really a good scam |
Re: Why Is The Naira Exchange Rate Always In The News by Tendd: 11:56am On Apr 25 |
Prices of goods and services keep rising at an exponential rate in this country,because of the dollar to Naira news.lt ain't longer funny. 1 Like |
Re: Why Is The Naira Exchange Rate Always In The News by MetalJigsaw(m): 11:56am On Apr 25 |
Zxcvbnmghtr:You are a devil incarnate. By insulting and falsly accusing him without any logical reply to counter his statement shows you are among the bad eggs in this country 2 Likes |
Re: Why Is The Naira Exchange Rate Always In The News by MetalJigsaw(m): 11:59am On Apr 25 |
Zxcvbnmghtr:You are a devil incarnate. IBy insulting and falsly accusing him without without any logical reply to counter his notion shows you are among the bad eggs in this country. Tuffiah!! |
Re: Why Is The Naira Exchange Rate Always In The News by Omololupromise: 12:02pm On Apr 25 |
Always import |
Re: Why Is The Naira Exchange Rate Always In The News by nairalanda1(m): 12:05pm On Apr 25 |
flyinnizam: Naira exchange rate has always been in the news. Like back in the 80's and 90's and since then...., every newspaper carried the daily rates of the naira vs foreign currencies in the front page sometimes, and even in the business pages. People have argued about the strength and weakness of naira from time inmemmorial I even interacted with an older nigerian in 2004, who remembered the good old days when one naira was one dollar in .....1978. NO be today. |
Re: Why Is The Naira Exchange Rate Always In The News by beyondPen(m): 12:11pm On Apr 25 |
It's because the Naira is been floated and we have to determine the value of the naira by what we produce and Nigerian-made things. Hence it will always be our concern. Which is good for the economy. Many Nigerians over yarn and don't calm down. 1 Like |
Re: Why Is The Naira Exchange Rate Always In The News by Daystar7: 12:12pm On Apr 25 |
GenFunction: Yea, it in turn affects coconut cos he will buy and pay for all other services that's affected by the dollars. Simple Economics. I heard garri is now a luxury, don't you wonder why? 1 Like |
Re: Why Is The Naira Exchange Rate Always In The News by Zxcvbnmghtr: 12:17pm On Apr 25 |
MetalJigsaw: What is logical about what he wrote?! ![]() |
Re: Why Is The Naira Exchange Rate Always In The News by bestman09(m): 12:17pm On Apr 25 |
Superpack589: I just corrected myself even though you used a stupid language to point it out to me. I now understand why they say that there is sense in every nonsense! |
Re: Why Is The Naira Exchange Rate Always In The News by ConfidentialDoc: 12:27pm On Apr 25 |
shortgun: Sadly, you're on point ! 3 Likes |
Re: Why Is The Naira Exchange Rate Always In The News by GenFunction: 12:29pm On Apr 25 |
Daystar7:NO need to wonder why cos the over dependence on the dollar is much thats why e even affected coconut and the little tings produced locally. |
Re: Why Is The Naira Exchange Rate Always In The News by peterboro: 12:32pm On Apr 25 |
diamond68: HOW CAN Taptap BE SCAM? Please download it from Playstore. It's genuine 💯,% That's what we use here in UK and other Europe countries. 1 Like 1 Share
|
Re: Why Is The Naira Exchange Rate Always In The News by Exceed15: 12:37pm On Apr 25 |
Because they know how deep they have destroyed the economy. Apc is a huge mistake. All their supporters should hide faces in Shame. I thought S/W were intelligent people. See how emilokan brainwashed them. Lest I forget how is EBILOKAN now |
Re: Why Is The Naira Exchange Rate Always In The News by Dennisochampa: 12:38pm On Apr 25 |
Because alot of people especially Peter obi fans who are still vexed that the beer man did not win elections, they all want tinubu government to fail |
Re: Why Is The Naira Exchange Rate Always In The News by Hdanny(m): 12:41pm On Apr 25 |
diamond68:It’s legit bro, a friend of mine receives money from outside through the app and it works perfectly. |
Re: Why Is The Naira Exchange Rate Always In The News by Titogbanski: 12:54pm On Apr 25 |
It is because we create policies that favours black market sale of dollars |
Re: Why Is The Naira Exchange Rate Always In The News by SuccessfulRichi: 12:56pm On Apr 25 |
flyinnizam: It's a big distraction. My bro. Let's keep talking about dollar vs Naira until 2027 election. This is a game. Dollar was going down but prices of goods and services were going up. Bleep the government and their propaganda. 1 Like |
Re: Why Is The Naira Exchange Rate Always In The News by DataDoc: 12:58pm On Apr 25 |
flyinnizam: It's because APC and her supporters want to prove that Tinubu is working, while every other person wants to prove that Nigeria is getting worse. A simple way to do that is to look at the exchange rate 1 Like |
Re: Why Is The Naira Exchange Rate Always In The News by frugal(m): 1:00pm On Apr 25 |
Gbadugbakun: That's the point OP is trying to make. We're not the only country heavily into importation, and our dependent didn't start today. So why the noise? |
Re: Why Is The Naira Exchange Rate Always In The News by Benwallt(m): 1:04pm On Apr 25 |
Apus: You're indirectly laying curse on obedients. They are the ones that started shouting dollars dollars after they were beaten black, blue, green on all fronts. Obidients are potential architect of misfortunes to a nation |
Re: Why Is The Naira Exchange Rate Always In The News by Krankhead: 1:04pm On Apr 25 |
Because of Lazy people who determine government functionality on Dollar and also for enemies of Nigeria to pull the country down.i have never seen any other country in the whole world whose citizens talks about Dollar like Nigerians 1 Like 1 Share |
Re: Why Is The Naira Exchange Rate Always In The News by Krankhead: 1:06pm On Apr 25 |
flyinnizam:Naira has nothing to do with present govt. Just for lazy people who don't have work and refused to learn handwork rather sit o. The internet to pull the country down. |
Re: Why Is The Naira Exchange Rate Always In The News by Krankhead: 1:11pm On Apr 25 |
Feintline:You and your obidient mob plus Arise TV are the one carrying bad news about the country. You want the country and the govt to fail. Instead of you to go and learn some trade , you rather follow crowd to criticism. That's all you do. |
Re: Why Is The Naira Exchange Rate Always In The News by Daystar7: 1:19pm On Apr 25 |
Naira- Dollar exchange rate is now in the news more regularly cos it's has been floated by a new government that failed to put the necessary measures in place to make it stable. It easy to blame the past government for backing the dollars, which is bad in itself cos it makes the government lazy and comfortable but you have to consider that we produce and export nothing aside crude oil that's stolen everyday recklessly. This crude oil is in turn imported and sold at a subsidized rate. It's important both subsidies are removed but then how you go about it is the most important aspect and requires consultations with the best hands and head available and long term planning. This is why it's important to elect intelligent and credible hands. I think Tinubu heard his opponents talk about how they were gonna remove this subsidies and just carelessly did it trying to appear smart without trying to know the intricacies involved. We are not against Tinubu for removing fuel and Naira subsidy but the way and manner it was done. This two things is like air and water to Nigerians and a very delicate part of the lives of Nigerians. You don't cut off a head cos of headache and that was the approach Tinubu used. This why destructive criticism is bad and this is the aftermath of engaging in such, the Bible says let him that stand take heed lest he falls and asked us to refrain from judging others. When u get in the habit of judging others u won't see the plank in ur own eyes cos you'll be busy with the speck of dust in the eyes of the criticized. That's the problem of APC. The party campaigned and built its foundation on hate, criticism and bigotry. Go back to the kind of atmosphere Nigeria political atmosphere Nigeria was in 2014 and you will see that the accusations by Batists on Obidients is nothing but child's play. That's how toxic it was. Kids enjoyed watching cartoons mockery of the president and his wives, unnecessary protest every where not born out of true patriotism but dishonest ambition. Subsidy wasn't good for us then and was supposed to be removed but the people who actually knew better lied to Nigerians, decieved the populace just for selfish unpatriotic reasons while things deteriorated badly just to achieve selfish dreams. That's the price we are all paying. I didn't vote as at that time but I was already of voting of voting age then in the university and didn't fully understand what was going on. I thought Jonathan was really bad for the masses to be against him but my happiness was I didn't campaign against him or joined the bandwagon to castigate and mock him. It was during my service year in Katsina that I truly understand who Buhari really was. That man was a true Islamic Jihadist. He wasted the lives of millions of christians in the North cos of loosing elections in 2011. Was supposed to be languishing in jail paying for his crimes but Jonathan paid for his unwillingness to be brave and put him exactly where he belongs. I look back today and i blame him for being too timid. Today you still see him fraternizing with the Men that disrespected and dishonored him. That's to show you the kind of man he's. A puppet! Little wonder his wife was so vocal and too many looting and corruption happened under his very nose. He messed up at every turn due to his inability to put his foot down and stand on business. A faint hearted man. I understand coming from a minority tribe he was surrounded by wolves and instead of toughening up he chose to appease them. The wolves smelt the weakness and came for his blood. Human psych is like that. Men will choose wicked cold blooded dangerous men to lily livered nice men. Buhari removed the subsidy but didn't want to noise about it cos he was part of those that lied about left it into the tenure of his successor to take the hypocrisy and hear off himself and Tinubu became the fall guy. He also took the fall by nailing himself when he made that speech on his inauguration day. He was a bit too anxious to show off his leadership capacity only to self sabotage himself. Today you hear things like, Tinubu is brave for removing fuel subsidy, what others before him couldn't do. They forget Jonathan did and it was on it they laid the falsehood campaign that hounded him out and Buhari was the person that put it the fuel subsidy removal in place. Tinubu trying to chase vain glory nailed himself with the needless speech of removing fuel subsidy that was already removed by Buhari. This gave me worries cos for Buhari who we saw as "slow" to make such move only for supposed smart Bobo Chicago to take such a fall for Buhari's clandestine move shows someone isn't really as smart as they claimed. Instead of taking his time to see how far the impact of that inglorious speech will go he also hurriedly floated the Naira putting everything into a total frenzy of chaos. Today everything seems shady cos money saved from subsidy should increase our reserve but we see the opposite. Naira is being backed, same thing others was criticized for same as fuel subsidy cos fuel ought not to be less than #1200 without subsidy. Now we see a lot of cosmetic approach by the CBN, trying to force the Naira down which is why it's not reflecting on the market cos there's no fundamentals to put the technical and sentimental analysis in place. A very wrong and chaotic approach. Buying and selling the dollar is now a very volatile venture to go into which is why I've split my Naira and USD holdings in two. I know USD will always remain a safe haven but I know not to see it as an investment cos with the current approach by the CBN and the economic team we can wake up a $ for #300 only to see same $ for #2500 the next day. It has become a complete chaotic economic atmosphere. Nothing has been done so far to restore sanity and organization just propaganda, continuous borrowing and new projects while the existing ones in need of maintenance are left to rot. Nigerians and the youths especially should shun ethnoreligious bigotry and ask for good governance. I'm Obidients, but Tinubu is the president but that doesn't mean I'll partake in destroying the country cos Obi is not the president today. If we destroy it today what will Obi work on if he eventually becomes president. We must not tow the APC path, it's very dangerous. APC should as a matter of fact start doing something tangible in the aspect of Power generation, and security then agriculture and manufacturing for export esp turning out abundant minerals to finished products for export. Stop creating new projects and work on improving existing ones. I feel they should have worked on the old refineries and allowing private investors to run it while the government shadows the operations. The likes of Adenuga, Otedola, Ibeto, Dangote can be the investors instead of giving Dangote subsidized forex to build a private refinery adding our crude oil to his monopolistic conglomerates. Naira- USD is now more volatile than Bitcoin and that's is bad for the country. I'm a forex trader who majors on EURUSD currency. So I know what I'm saying 3 Likes |
Re: Why Is The Naira Exchange Rate Always In The News by Daystar7: 1:20pm On Apr 25 |
Naira- Dollar exchange rate is now in the news more regularly cos it's has been floated by a new government that failed to put the necessary measures in place to make it stable. It easy to blame the past government for backing the dollars, which is bad in itself cos it makes the government lazy and comfortable but you have to consider that we produce and export nothing aside crude oil that's stolen everyday recklessly. This crude oil is in turn imported and sold at a subsidized rate. It's important both subsidies are removed but then how you go about it is the most important aspect and requires consultations with the best hands and head available and long term planning. This is why it's important to elect intelligent and credible hands. I think Tinubu heard his opponents talk about how they were gonna remove this subsidies and just carelessly did it trying to appear smart without trying to know the intricacies involved. We are not against Tinubu for removing fuel and Naira subsidy but the way and manner it was done. This two things is like air and water to Nigerians and a very delicate part of the lives of Nigerians. You don't cut off a head cos of headache and that was the approach Tinubu used. This why destructive criticism is bad and this is the aftermath of engaging in such, the Bible says let him that stand take heed lest he falls and asked us to refrain from judging others. When u get in the habit of judging others u won't see the plank in ur own eyes cos you'll be busy with the speck of dust in the eyes of the criticized. That's the problem of APC. The party campaigned and built its foundation on hate, criticism and bigotry. Go back to the kind of atmosphere Nigeria political atmosphere Nigeria was in 2014 and you will see that the accusations by Bats on Obidients is nothing but child's play. That's how toxic it was. Kids enjoyed watching cartoons mockery of the president and his wives, unnecessary protest every where not born out of true patriotism but dishonest ambition. Subsidy wasn't good for us then and was supposed to be removed but the people who actually knew better lied to Nigerians, decieved the populace just for selfish unpatriotic reasons while things deteriorated badly just to achieve selfish dreams. That's the price we are all paying. I didn't vote as at that time but I was already of voting of voting age then in the university and didn't fully understand what was going on. I thought Jonathan was really bad for the masses to be against him but my happiness was I didn't campaign against him or joined the bandwagon to castigate and mock him. It was during my service year in Katsina that I truly understand who Buhari really was. That man was a true Islamic Jihadist. He wasted the lives of millions of christians in the North cos of loosing elections in 2011. Was supposed to be languishing in jail paying for his crimes but Jonathan paid for his unwillingness to be brave and put him exactly where he belongs. I look back today and i blame him for being too timid. Today you still see him fraternizing with the Men that disrespected and dishonored him. That's to show you the kind of man he's. A puppet! Little wonder his wife was so vocal and too many looting and corruption happened under his very nose. He messed up at every turn due to his inability to put his foot down and stand on business. A faint hearted man. I understand coming from a minority tribe he was surrounded by wolves and instead of toughening up he chose to appease them. The wolves smelt the weakness and came for his blood. Human psych is like that. Men will choose wicked cold blooded dangerous men to lily livered nice men. Buhari removed the subsidy but didn't want to noise about it cos he was part of those that lied about left it into the tenure of his successor to take the hypocrisy and hear off himself and Tinubu became the fall guy. He also took the fall by nailing himself when he made that speech on his inauguration day. He was a bit too anxious to show off his leadership capacity only to self sabotage himself. Today you hear things like, Tinubu is brave for removing fuel subsidy, what others before him couldn't do. They forget Jonathan did and it was on it they laid the falsehood campaign that hounded him out and Buhari was the person that put it the fuel subsidy removal in place. Tinubu trying to chase vain glory nailed himself with the needless speech of removing fuel subsidy that was already removed by Buhari. This gave me worries cos for Buhari who we saw as "slow" to make such move only for supposed smart Bobo Chicago to take such a fall for Buhari's clandestine move shows someone isn't really as smart as they claimed. Instead of taking his time to see how far the impact of that inglorious speech will go he also hurriedly floated the Naira putting everything into a total frenzy of chaos. Today everything seems shady cos money saved from subsidy should increase our reserve but we see the opposite. Naira is being backed, same thing others was criticized for same as fuel subsidy cos fuel ought not to be less than #1200 without subsidy. Now we see a lot of cosmetic approach by the CBN, trying to force the Naira down which is why it's not reflecting on the market cos there's no fundamentals to put the technical and sentimental analysis in place. A very wrong and chaotic approach. Buying and selling the dollar is now a very volatile venture to go into which is why I've split my Naira and USD holdings in two. I know USD will always remain a safe haven but I know not to see it as an investment cos with the current approach by the CBN and the economic team we can wake up a $ for #300 only to see same $ for #2500 the next day. It has become a complete chaotic economic atmosphere. Nothing has been done so far to restore sanity and organization just propaganda, continuous borrowing and new projects while the existing ones in need of maintenance are left to rot. Nigerians and the youths especially should shun ethnoreligious bigotry and ask for good governance. I'm Obidients, but Tinubu is the president but that doesn't mean I'll partake in destroying the country cos Obi is not the president today. If we destroy it today what will Obi work on if he eventually becomes president. We must not tow the APC path, it's very dangerous. APC should as a matter of fact start doing something tangible in the aspect of Power generation, and security then agriculture and manufacturing for export esp turning out abundant minerals to finished products for export. Stop creating new projects and work on improving existing ones. I feel they should have worked on the old refineries and allowing private investors to run it while the government shadows the operations. The likes of Adenuga, Otedola, Ibeto, Dangote can be the investors instead of giving Dangote subsidized forex to build a private refinery adding our crude oil to his monopolistic conglomerates. Naira- USD is now more volatile than Bitcoin and that's is bad for the country. I'm a forex trader who majors on EURUSD currency. So I know what I'm saying 5 Likes |
Re: Why Is The Naira Exchange Rate Always In The News by Haaland21: 1:27pm On Apr 25 |
annyz: Go and point to one single school Obi initiated, started, completed, and commissioned in his 8 years as a governor..... Shameless people....na only to drunk dey know. Spent 50 m USD on beer business.... |
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