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Nairaland Forum / Nairaland / General / Business / Naira Now 172 Naira To A Dollar. Why? (54608 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 Henrick007: 8:04pm On Nov 13, 2014 |
perfect time to sell my gold. |
Re: Naira Now 172 Naira To A Dollar. Why? by marv1: 8:05pm On Nov 13, 2014 |
Ask okonjo nwella finance minister. She has been shouting naira is stabilised, economy is improving. 1 Like |
Re: Naira Now 172 Naira To A Dollar. Why? by Nobody: 8:07pm On Nov 13, 2014 |
Henrick007:short term or long term? or mid term? |
Re: Naira Now 172 Naira To A Dollar. Why? by juwoonn(m): 8:10pm On Nov 13, 2014 |
mayorall:I saw it coming. The rate of inflation is becoming too alarming. Its going N200 before April. Oga Jona weldone o |
Re: Naira Now 172 Naira To A Dollar. Why? by eightsin(m): 8:11pm On Nov 13, 2014 |
What!! ![]() |
Re: Naira Now 172 Naira To A Dollar. Why? by caslord(m): 8:11pm On Nov 13, 2014 |
That happy moment you got to know a USD is now equivalent to 175.00 Naira...#Dem boiz understand moi better# :d =)) |
Re: Naira Now 172 Naira To A Dollar. Why? by Henrick007: 8:12pm On Nov 13, 2014 |
Aggrippa:meaning? |
Re: Naira Now 172 Naira To A Dollar. Why? by Nobody: 8:12pm On Nov 13, 2014 |
THIS IS THE BEST COMMENT I HAVE EVER READ ON NAIRALAND , , , slightlyMad: LOLLLL... |
Re: Naira Now 172 Naira To A Dollar. Why? by Nobody: 8:14pm On Nov 13, 2014 |
Yet they say I shouldn't insult Mr Shoeless. ![]() |
Re: Naira Now 172 Naira To A Dollar. Why? by lozairio(m): 8:16pm On Nov 13, 2014 |
Look at the chart jonathan has done more harm than Good
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Re: Naira Now 172 Naira To A Dollar. Why? by surveyProf(m): 8:18pm On Nov 13, 2014 |
ogtavia: Yeah, you're correct, our economy is an oil driven economy, i.e. The budget was perhaps planned using the prices of crude oil @ as when it was on a high side of one hundred and something dollar per barrel, as against the eighty five dollar per barrel currently @ as today, and moreover there is more demand for "FX" by mainly importers, this was the reason why cbn has to stop the sales of dollars @ as last week. Similarly, you're right, Nigeria should focus more on increasing her export of goods n services, and import less, by dis way there will be earnings in foriegn currencies, Nigeria would have been able to do dis, if its agro sector is working, cocoa, rubber, tin etc, can earn fx for the economy, pending wen the prices of oil gets back to normal. but unfortunately, we focus more on oil. |
Re: Naira Now 172 Naira To A Dollar. Why? by OHAJURU1: 8:18pm On Nov 13, 2014 |
Whaaaaaaaaaaat?
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Re: Naira Now 172 Naira To A Dollar. Why? by jcflex(m): 8:18pm On Nov 13, 2014 |
blizard44: pls are u ok at all, jst a question |
Re: Naira Now 172 Naira To A Dollar. Why? by Nobody: 8:19pm On Nov 13, 2014 |
Henrick007:i meant liquid gold whose price fluntuates in a volatile manner and is affected by market forces and other forces not the physical one! |
Re: Naira Now 172 Naira To A Dollar. Why? by 4Play(m): 8:25pm On Nov 13, 2014 |
Naira falls when there is a significant drop in oil price. Nothing to do with GEJ, not that this matters to the mercenary posters on here. |
Re: Naira Now 172 Naira To A Dollar. Why? by DONFASZY(m): 8:26pm On Nov 13, 2014 |
Its higher n we dont ve choice...so painful....i brought last 1.5month n167...for 2weeks nw...Its nw 175 I brought 2day n I called like 5 BDG....d cheapest was 174.2 bt far frm me...so I brought 175 as I run a dom acct on my coy name |
Re: Naira Now 172 Naira To A Dollar. Why? by edogirl2: 8:31pm On Nov 13, 2014 |
trillville: The fact he did the above does not justify the failure to formulate a comprehensive long term (25 - 30 years) National Development Policy. Malaysia, Singapore and some of the Asian countries who were more or less at the same development level as Nigeria in the 60s and 70s charted a new course with well thought - out medium and long term development plans. In Nigeria, it's usually uncoordinated, unfocused, patchy and usually tepid short - term approach aimed mostly at winning the next election and nothing more. For example, instead of a comprehensive transportation policy, the government of the day fixes roads to gain votes. So Igbos shout '2nd Niger Bridge!,' the government rushes to send Julius Berger there. Yorubas (mainly) condemn the state of Lagos - Ibadan and accuse GEJ of neglect, he panics and dispatches contractors to start work sharp sharp. Same applies to all the Presidents before him. This is not the way to fruitful, sustainable long term development. 4 Likes |
Re: Naira Now 172 Naira To A Dollar. Why? by Nobody: 8:31pm On Nov 13, 2014 |
ME MUST KEEP AN EYE ON ALL WHO BENEFITTED FROM THE NIGERIAN GOVT'S CORRUPTION: " FROM STELLA ODUAH TO GEJ TO PEJ, DAVID MARK, EMEFIELE, SOLUDO, NDIDI ONYUIEKE, ONYEBUCHI CHUKWU, NGOZI OKONJO, ALAIYEMESEGHA, IBORI, UDUAGHAN, FAYOSE, AUDU, IBB, OBASANJO, TINUBU, ABACHA'S SON, DOYIN OKUPE, RUEBEN ABATI, FAROK LAWAN, ALAO AKALA, IGBINEDION,...." THE LIST GOES ON AND ON...THEY MUST NOT ESCAPE WHEN THE FIRE STARTS AND SHIT HITS THE FAN, THEY MUST BE MADE TO FACE THE MUSIC |
Re: Naira Now 172 Naira To A Dollar. Why? by MZdamola(f): 8:34pm On Nov 13, 2014 |
papiforreal: What have I said to deserve this unnecessary insult.. anyways, U've been noticed, I've seen u. Now run along... [size=8pt][/size] uh |
Re: Naira Now 172 Naira To A Dollar. Why? by chuksey1(m): 8:34pm On Nov 13, 2014 |
hv no idea of how d NAIRA looks cos I school in FRANCE |
Re: Naira Now 172 Naira To A Dollar. Why? by fittty(m): 8:38pm On Nov 13, 2014 |
At least my folks go hold beta money for hand when I send something this Christmas. |
Re: Naira Now 172 Naira To A Dollar. Why? by nairaman66(m): 8:40pm On Nov 13, 2014 |
Eghosa1: Nothing the CBN can do.., they only have to increase taxes on imports and as usual, the masses will bear the brunt of these circumstances. So sad 1 Like |
Re: Naira Now 172 Naira To A Dollar. Why? by ogtavia(m): 8:42pm On Nov 13, 2014 |
surveyProf: |
Re: Naira Now 172 Naira To A Dollar. Why? by edogirl2: 8:43pm On Nov 13, 2014 |
Btw our missing $20 (12? 10?) billion? Malabu oil deal nko? Imagine an extra $20 billion in the CBN pot? It will surely have eased the current situation. But when some of us said the missing money must be investigated, we were shouted down. Some even said it was Niger Delta oil money and people should leave GEJ and that wicked Petroleum minister alone. Oh well, now 180 million people have to pay for the greed of a handful of people. 2 Likes |
Re: Naira Now 172 Naira To A Dollar. Why? by legalwealth(m): 8:44pm On Nov 13, 2014 |
stevolinkon40: I see.I can surely help on this Just send me an e-mail via info@ijamsolution.com |
Re: Naira Now 172 Naira To A Dollar. Why? by Angelstartups(f): 8:45pm On Nov 13, 2014 |
Hello all. It may not be surprising that naira is at a record low in years. The following are some of the contributing factors: 1) Naira is pegged to crude oil, Nigeria's major product and source of foreign exchange (about 85%), the demand for this commodity is lower than supply, pulling the price downwards. When this occurs, Naira as a currency falls on the exchange market. 2) Nigeria is an import_oriented country, importation only occur on internationally accepted currency (the U.S dollars), the more you import, the more you demand for dollars and sell naira, pushing naira down. Remember, we are in the tail end of the business year where trade rise geometrically as compared to other months. 3) elections are exactly 3 months away, Nigerian politicians prefer to carry their money in dollar equivalent for easy mobility, to distribute, buy key state actors, since Nigeria simply plays "money politics", thereby forcing more pressure on Naira. Soon there may be artificial short-term inflation. This is likely to continue until 2015 general elections, so guys be prepared. 1 Like |
Re: Naira Now 172 Naira To A Dollar. Why? by ladi02(m): 8:51pm On Nov 13, 2014 |
Oil prices dropping, but the normal phenomenon in all African countries during election months dollar goes up...Ask GHANA |
Re: Naira Now 172 Naira To A Dollar. Why? by UuzbaGuuzba: 8:52pm On Nov 13, 2014 |
Naira is 172 to the Dollar because we have still refused to stop importation. Continue feeling good importing even basic toothpicks, or even your very own underwear. Show the world that you are totally incapable of manufacturing your needs and the price of the dollar will continue to rise. Be waiting, it will reach N500 to 1 dollar by 2015. 1 Like |
Re: Naira Now 172 Naira To A Dollar. Why? by Dragonking: 8:54pm On Nov 13, 2014 |
People keep on blaming only GEJ but they forget to blame all the other useless former presidents of this country. ![]() Imagine the dollar rising from about N21 to N120 withing 5years during OBJ tenure and you all just kept quiet. Nigeria is just a useless country. ![]() ![]() |
Re: Naira Now 172 Naira To A Dollar. Why? by Caseless: 9:02pm On Nov 13, 2014 |
xynerise:no carry ur zimbabwean dollar come my shop o. |
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