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Nairaland Forum / Nairaland / General / Business / Naira Now 172 Naira To A Dollar. Why? (54611 Views)
Naira Now N225 In Paralllel Market On Friday 25th June 2015 / Devaluation: Naira Now N183 To The Dollar / Naira Now N166 To $1. Can Someone Tell Me What Is Happening? (2) (3) (4)
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Re: Naira Now 172 Naira To A Dollar. Why? by surveyProf(m): 5:35pm On Nov 13, 2014 |
Youngzedd: lol, I have been busy kind of, but I am back now! |
Re: Naira Now 172 Naira To A Dollar. Why? by vanndubi: 5:36pm On Nov 13, 2014 |
Eghosa1: CBN actually intervened last week but failed to make needed impact. I think we should follow Ngo baby's advice: tighten ur belt and buy enough Garri unto "oto" level |
Re: Naira Now 172 Naira To A Dollar. Why? by Youngzedd(m): 5:37pm On Nov 13, 2014 |
Re: Naira Now 172 Naira To A Dollar. Why? by Built2last: 5:37pm On Nov 13, 2014 |
Some clueles ones with no knowledge about the present oil dive and how the money market operates will flood this thread and insult people..... 3 Likes 1 Share |
Re: Naira Now 172 Naira To A Dollar. Why? by Mathematical(f): 5:37pm On Nov 13, 2014 |
SERIOUSLY THIS NAIRA ISSUE IS REALLY GETTING OUTTA HAND... This nation is govern by insane rulers for insane objectives. When are we gnna wise up huh? Small time dem go carry one yeye funny statistics come sey Nigeria is so so.. Well 170 or higher... It swells my purse if the dollar keep gianting against naira.. .Our rulers never care.. why should this bother me... Naira infact turn. 250.. 6 Likes |
Re: Naira Now 172 Naira To A Dollar. Why? by tempem: 5:38pm On Nov 13, 2014 |
sammycarz:Personalise am. Lol. 2 Likes |
Re: Naira Now 172 Naira To A Dollar. Why? by ichidodo: 5:39pm On Nov 13, 2014 |
[b]....The Naira has always been buoyed up artificially by the CBN since 1900 with the use of our external reserves which is mainly funded by our crude oil sales.This CBN policy though patriotic is economically unviable imaddition to the fact that it opens doors for sharp practices,corruption and serious depletion of the reserve -something that has been going on for years- never mind it being a very short term method to building a strong Naira. So the CBN has stopped that policy thus leaving this exchange to demand and supply(hence the current dollar reflex) which in this case allows the sheer size of Africa biggest economy to 'pull its weight' allowing the dollar price to get to its natural equilibrium point at par with Nigeria's current economic growth rate instead of steady currency attrition akin to burning dollars just to fund consumerisms that is the Nigerian populace and political class.Thus our external reserves becomes very buoyant leaving a golden nest egg for generations unborn and the strenght of the Naira ,naturally (without help from the cbn but from the power of the Nigerian people and their economic activites) matches the sheer might of Africa biggest economy.This is going to be an interesting scenario to observe from an economic perspective..[/b] 6 Likes |
Re: Naira Now 172 Naira To A Dollar. Why? by Nobody: 5:42pm On Nov 13, 2014 |
We are dependent on oil.....we are a dutch diseased economy. That is why there have been problems with the Naira , especially sicne 1986...when the full effects of the 1982 oil price crash came into play. The era of high oil prices is over. Time to follow China, Japan , Germany, South Korea and India down the road of Industrial Development. Time to say bye bye to oil subsidy, cheap fuel, cheap school fees, etc....because LADIES and GENTLEMEN....as I have been screaming here....the oil money IS NOT ENOUGH. Oil is a curse. 6 Likes |
Re: Naira Now 172 Naira To A Dollar. Why? by bosun11(m): 5:42pm On Nov 13, 2014 |
Seye25: sorry ehn........... ![]() ![]() ![]() |
Re: Naira Now 172 Naira To A Dollar. Why? by surveyProf(m): 5:43pm On Nov 13, 2014 |
Youngzedd: Yeah, we thank God!!! |
Re: Naira Now 172 Naira To A Dollar. Why? by Nobody: 5:43pm On Nov 13, 2014 |
. . . . . . . . . . . . . . .PDP and ebele drunk transforming Nigeria to pieces .. ............774 local govts = transformed to 754 local govts . . . . . . . . .dollar on a free nose dive . . . . . . . . . . . .security = all time low . . . . . . . . .THE DRUNK IS WORKING 1 Like |
Re: Naira Now 172 Naira To A Dollar. Why? by Nobody: 5:43pm On Nov 13, 2014 |
Because of the new 100naira note from Jonathan He must just go 1 Like |
Re: Naira Now 172 Naira To A Dollar. Why? by UkwuNnu(m): 5:45pm On Nov 13, 2014 |
This is simple economics matrices. We are in a season when importation is at its peak and more people are going into importation business, this does not help our foreign exchange, its simple demand and supply from basic economics coupled with the oil price dive Shouting government this and that when we react to banning of some imported products. ![]() ![]() ![]() Consume made in NIGERIA Products!!! ![]() ![]() ![]() 7 Likes 2 Shares |
Re: Naira Now 172 Naira To A Dollar. Why? by Nobody: 5:46pm On Nov 13, 2014 |
MyMouth: too late to cry.. all that is left is to take back what is ours.. kill our leaders and their offsprings, crucify religious leaders who blinded us to the truth and lastly.. give up ourselves to poor area boys for continuous beating since all we do is type on nairaland and never protest like we plan to do 3 Likes |
Re: Naira Now 172 Naira To A Dollar. Why? by bosun11(m): 5:47pm On Nov 13, 2014 |
THE ONLY PRAYER I CAN MAKE NOW IS GOD TOUCH THE HEART OF OUR LEADERS..................180 is damn too high !!!.....IT IS WELL.... |
Re: Naira Now 172 Naira To A Dollar. Why? by Appswheel(m): 5:47pm On Nov 13, 2014 |
because we like to consume, self-centered n lazy, because we like to import everything incluing toothpick n pants. because we all dependent on oil. because we dwell n flex muscle on frivolities. Nigerians make we arise for change! If you are a student, undergrauate visit www..com/resources for success secrets n tips that will turn ur grades around. 2 Likes |
Re: Naira Now 172 Naira To A Dollar. Why? by destante(f): 5:48pm On Nov 13, 2014 |
davide470 have you seen this? |
Re: Naira Now 172 Naira To A Dollar. Why? by dallyemmy: 5:48pm On Nov 13, 2014 |
THAT IS CALLED TRANSFORMATION AGENDA! 2 Likes |
Re: Naira Now 172 Naira To A Dollar. Why? by Psylas(m): 5:48pm On Nov 13, 2014 |
Smh |
Re: Naira Now 172 Naira To A Dollar. Why? by Mathematical(f): 5:48pm On Nov 13, 2014 |
[quote author=UkwuNnu post=27985093]This is simple economics matrices. We are in a season when importation is at its peak and more people are going into importation business, this does not help our foreign exchange, its simple demand and supply from basic economics coupled with the oil price dive Shouting government this and that when we react to banning of some imported products. ![]() ![]() ![]() Consume made in NIGERIA Products!!! ![]() ![]() ![]() ![]() |
Re: Naira Now 172 Naira To A Dollar. Why? by philclem(m): 5:49pm On Nov 13, 2014 |
Wait let me consult the oracle ![]() |
Re: Naira Now 172 Naira To A Dollar. Why? by msmon(m): 5:51pm On Nov 13, 2014 |
@OP, I'm not in d right position to answer that, maybe we should as Emefiele or what's his name? |
Re: Naira Now 172 Naira To A Dollar. Why? by Nobody: 5:52pm On Nov 13, 2014 |
MZdamola:sister, are u realy this dumb? 1 Like |
Re: Naira Now 172 Naira To A Dollar. Why? by Mathematical(f): 5:52pm On Nov 13, 2014 |
Chaii.. see as nairalanders dey halla. ..Shey them sey the Love of money is the root to what sef? ![]() |
Re: Naira Now 172 Naira To A Dollar. Why? by Samneer: 5:53pm On Nov 13, 2014 |
Ask Oga Jona and Madam Ngozi |
Re: Naira Now 172 Naira To A Dollar. Why? by LordVoldemort(m): 5:54pm On Nov 13, 2014 |
EagleNest: If an ordinary ape could make the price of dollar drop from 136 - 120 (2005-008) I expect more from a zoologist buh instead he just made the look smartr than humans 2 Likes |
Re: Naira Now 172 Naira To A Dollar. Why? by Mathematical(f): 5:54pm On Nov 13, 2014 |
papiforreal:Dumbness isnt bad to posses... |
Re: Naira Now 172 Naira To A Dollar. Why? by slightlyMad(f): 5:55pm On Nov 13, 2014 |
GEJ knows nothing about governance. i cant wait to have february 14. even if he begs and crys on his 2 knees, he wont get my vote. shameless animal 10 Likes |
Re: Naira Now 172 Naira To A Dollar. Why? by Nobody: 5:55pm On Nov 13, 2014 |
Oyeneku3: NwaNimo1: Unibenstudent: Consider this not a defence of PDP. Yes, we must vote PDP out. But the APC, or indeed any of the opposition parties are just as bad ''economically speaking''. Let me explain. APC has no plan to get Nigeria off its dependency on oil ....which is the real reason why we have troubles with our naira.If we had had an industrial economy, exporting goods to Africa and Asia and even Europe (Inida sells Tata cars worldwide)....we would have had a strong industrial economy.....and a strong currency. (Note that I do not mention agric. That is resource dependency under another name. Many African countries that produce cotton are in serious trobule because of falling cotton prices. Ditto for metals....ask Zambia). APC and PDP are both clueless about the economy and how it should be run. Both of them don't want to make the hard choices needed to make the economy run well. Likewise, many of you Nigerians blame the problem on ''corruption'' (true)....but the big issue is that the pot they are stealing from is not big enough. Oil rich countries that do well have small populations and/or diversified economies. I notice a lot of you Nigerian admire Libya under Ghaddafi. Libya had/has a population under 6million....and produces far more oil than Nigeria. Libya had so much cash that the Gaddafi family and the elite could siphon off cash....and there would still be surplus for the people. But Libya fell to the West in battle because that oil they loved was used to import weapons from the same West....which proved to be their downfall. What I want you Nigerians is to stop saying GEJ is bad, or APC are cankers. Ask both parties, at all levels....do they have an immediate plan for our industrialisation. Because what is happening now is an instant replay of 1982....and back then, we still had a somewhat diversifed economy. Now we do not. And unless you Nigerians stop thinking that we have more than enough oil money to play around with....and vote for leaders, regardless of party, with that mindset....that we are not a rich nation, and riches come with work....then we will move out of our oil dependency and into a glorious future. Nigerians what will it be? The choice in 2015 really is not between PDP and APC....RATHER....it is a choice every Nigerian must make....will we forever pretend that we are rich....or accept that we are poor and start using what we have to make ourselves rich? Oil is a curse. 23 Likes |
Re: Naira Now 172 Naira To A Dollar. Why? by asiwajumi(m): 5:55pm On Nov 13, 2014 |
datguru:why u no go like it.yahoo Boy |
Re: Naira Now 172 Naira To A Dollar. Why? by Ramanto(m): 5:56pm On Nov 13, 2014 |
Because the demand for the Nigerian naira is low in the foreign exchange market BTW,u can as well ask oga Jona and sister Ngor |
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