Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,205,519 members, 7,992,791 topics. Date: Sunday, 03 November 2024 at 04:38 PM

FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours (29721 Views)

Naira Depreciates By ₦‎81/$ At Foreign Exchange Market / FOREX Crisis: Naira Plunges To 1,025/$, Job Losses, Factory Shutdown Loom / Economic Crisis: Naira To Fall Further In January, Says CBN Report (2) (3) (4)

(1) (2) (3) (4) (5) (Reply) (Go Down)

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by helinues: 8:17pm On May 05
ShoeGetSize:
Na only "Toh" you sabi talk?


Kindly go to court
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Trustyourself: 8:17pm On May 05
Idiotic set of animals in power...

2 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by tuzle(m): 8:17pm On May 05
Is that crypto one I don't understand. Even during buhari time, a lot of youth where involved in crypto, it was very prevalent then and nobody blamed crypto. I can understand that it can be used for money laundering but the naira stuff is what I don't understand.

3 Likes 1 Share

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by MrPOTUS: 8:17pm On May 05
nairalanda1:
Strong currency nations are nations that export manufactured goods and services, and allow the free market to operate

embarassed


Why can't this govt be production centric?

I forgot, it's going to take a lot from dem (power, security, enabling business environment and policies etc...) which they're not ready to fix.

8 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Barzinime(m): 8:18pm On May 05
Why you dey lie like this?
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Almunjid(m): 8:18pm On May 05
What's the similarity between Naira and cryptocurrency? Did I hear u say Bull and Bear? grin
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Greenfusion: 8:19pm On May 05
LibertyRep:
What or who's to blame this time around?

Sighs.
Fintechs like Opay, palmpay etc.....very soon who to blame would finish.

6 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Greenfusion: 8:20pm On May 05
LibertyRep:
What or who's to blame this time around?

Sighs.

Blame everything blame able
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by excanny: 8:20pm On May 05
RIP Naira.


Not sure any voodoo economics by Tinubu can help again.

This is probably that inevitable journey to 5k per dollar.

Incompetent leaders.

2 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by fastseo: 8:20pm On May 05
nairalanda1:


By August 2022, debt servicing was eating 90% of our revenue. Tinubus partial removal of subsidy reduced that to 63% . It's probably gone up again.

Plus we had a drop in oil prices meaning we ended up borrowing to survive for 7 years or more while paying subsides. Result...debt eating 90% of our revenue.

I wish that apc lost in 2023, but when 3 candidates are saying that subsidy would go, something's up.

Anyway , we need to do what the big nations do. Pity I don't see tinubu doing it.

APC borrowed so much money to finance projects we that can't repay the loan and most money were stolen.
So the problem is with the borrowing APC did that made them to service loan with almost all revenue

6 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Hedonisco: 8:20pm On May 05
Yet they're busy shouting Binance, crypto and p2p up and down. Very useless animals with subpar IQ.

6 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by forerunner022(m): 8:21pm On May 05
Where is that idiot called reno omonkey

4 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by omoredia: 8:21pm On May 05
Tinubu is still throwing away out our fx paying subsidy.

2 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by ednut1(m): 8:21pm On May 05
Tinubu built Lagos 😅

2 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by 2RightHands1Coc(m): 8:21pm On May 05
Fela called them Zombies subtly
descarado:
Just like that, Nigerians have accepted this anomaly.

1 Like

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by omoredia: 8:21pm On May 05
If u think that Tinubu is no more paying subsidy then u are forever a bastárd

2 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by 2RightHands1Coc(m): 8:22pm On May 05
I fear for that day. 5k for a dollar.
excanny:
RIP Naira.


Not sure any voodoo economics by Tinubu can help again.

This is probably that inevitable journey to 5k per dollar.

Incompetent leaders.

2 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by imagrg(m): 8:24pm On May 05
I thought they said crypto trading caused it? Cluelessness!
Chase the abokis off the market and Naira would be stable.

1 Like

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Basicend: 8:24pm On May 05
excanny:
RIP Naira.


Not sure any voodoo economics by Tinubu can help again.

This is probably that inevitable journey to 5k per dollar.

Incompetent leaders.

Shebi you are happy now. .

Was that not your prayers before?
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Ykc2(m): 8:24pm On May 05
nairalanda1:


By August 2022, debt servicing was eating 90% of our revenue. Tinubus partial removal of subsidy reduced that to 63% . It's probably gone up again.

Plus we had a drop in oil prices meaning we ended up borrowing to survive for 7 years or more while paying subsides. Result...debt eating 90% of our revenue.

I wish that apc lost in 2023, but when 3 candidates are saying that subsidy would go, something's up.

Anyway , we need to do what the big nations do. Pity I don't see tinubu doing it.
una go defend tinubu tire

8 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by donkach: 8:25pm On May 05
nairalanda1:


By August 2022, debt servicing was eating 90% of our revenue. Tinubus partial removal of subsidy reduced that to 63% . It's probably gone up again.

Plus we had a drop in oil prices meaning we ended up borrowing to survive for 7 years or more while paying subsides. Result...debt eating 90% of our revenue.

I wish that apc lost in 2023, but when 3 candidates are saying that subsidy would go, something's up.

Anyway , we need to do what the big nations do. Pity I don't see tinubu doing it.
But subsidy is back and bigger. So Tinubu got that one wrong

1 Like

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Emmizay12(m): 8:25pm On May 05
Where are these crypto guys, FG please strangulate them harder, Naira must appreciate
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by femi4: 8:25pm On May 05
LibertyRep:
What or who's to blame this time around?

Sighs.
grin Wofai

1 Like

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Basicend: 8:27pm On May 05
fastseo:


APC borrowed so much money to finance projects we that can't repay the loan and most money were stolen.
So the problem is with the borrowing APC did that made them to service loan with almost all revenue

Funny enough, most of the white elephant projects are not even used or have any much value to us.

So sad. .

1 Like

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by kingxsamz(m): 8:28pm On May 05
I wonder when we'll stop hearing news about this n0nsense.
Also, notice how most of these APC sIaves have gone into hiding. Dollar going down was the only thing they could hold on to as some sort of achievement by their cIueIess, useIess so called president, even though it had no real effect in reality. Mu mu people.

7 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by maasoap(m): 8:29pm On May 05
nairalanda1:
Strong currency nations are nations that export manufactured goods and services, and allow the free market to operate

Free market my ass, no nation leaves the fate of her currency at the mercy of saboteurs in the name of free market.
Millions of Nigerian youth are pure currency speculators who are manipulating naira days and nights

3 Likes

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Onyi90(m): 8:30pm On May 05
ogododo:


https://dailypost.ng/2024/05/05/fx-crisis-naira-depreciates-by-n130-against-dollar-in-24-hours/

Consequences of chasing the wind. A country that doesn't export nothing to bring in dollars 💰 😔

1 Like

Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by Sapasenator: 8:30pm On May 05
Shit, I need to take my Naira out very quickly, totally forgot that currency can never be trusted.
Re: FX Crisis: Naira Depreciates By N130 Against Dollar In 24 Hours by excanny: 8:31pm On May 05
Basicend:


Shebi you are happy now. .

Was that not your prayers before?


It's not my fault Tinubu is clueless.

Yes. I'm happy because I never wanted him as president cos I saw him as the least competent of the presidential candidates and this just keeps proving it

7 Likes 1 Share

(1) (2) (3) (4) (5) (Reply)

Different Types Of People You Will Meet In Nigerian Market (meme Collection) / Can Someone Steal Your Money If They Have Access To Your BVN? / 9 Annoying Sets Of Nigerians You'd Meet At An ATM Queue

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 34
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.