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Nairaland Forum / Nairaland / General / Business / Devaluation: Naira Now N183 To The Dollar (25960 Views)
Naira Appreciates Against The Dollar / Naira Rallies Against The Dollar / Naira Now 172 Naira To A Dollar. Why? (2) (3) (4)
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Re: Devaluation: Naira Now N183 To The Dollar by gnykelly(m): 3:17pm On Dec 01, 2014 |
Johnpaul88:you get problem foolx100^1000 2 Likes |
Re: Devaluation: Naira Now N183 To The Dollar by gnykelly(m): 3:27pm On Dec 01, 2014 |
Maximus85:hope you are being sarcastic. |
Re: Devaluation: Naira Now N183 To The Dollar by gnykelly(m): 3:29pm On Dec 01, 2014 |
dear God I will be needing a visa after my education. |
Re: Devaluation: Naira Now N183 To The Dollar by vivaciousvivi(f): 3:31pm On Dec 01, 2014 |
My goodness...it will soon touch N200 like a joke! ![]() Don't even know if I should buy dollars and hold on to it. |
Re: Devaluation: Naira Now N183 To The Dollar by Adminisher: 3:51pm On Dec 01, 2014 |
torhuke: This is very stupid a post. Excess crude is down to $4bn (2 weeks imports), your external reserves is down to $37 (18months imports-). Your idiot president promised four new private refineries and they have not even started construction because of the civil servants have been sabotaging them four three years now. You are importing fuel for N2 trillion. 25 states don't have internal generated revenue, Senators are earning $2million each. Why should you be wasting your education and embarrassing your teachers by posting this thought less thrash. If you want to ass lick your dump president please join TAN. Meanwhile pray very well that you keep your job in the new year or your business does not collapse because if it does then you are a DOUBLE FOOL. 5 Likes 2 Shares |
Re: Devaluation: Naira Now N183 To The Dollar by Adminisher: 3:56pm On Dec 01, 2014 |
gnykelly: Exponentially number of fooooools in Nigeria. You are right. A lot of idiots running around thinking they are going places. |
Re: Devaluation: Naira Now N183 To The Dollar by Ejiod(m): 3:56pm On Dec 01, 2014 |
ADVICE:GO AND BUY DOLLAR NOW!!!!! OIL SHALE IN UNITED STATES IS BOOMING, THE ERA OF CRUDE OIL IS OUT |
Re: Devaluation: Naira Now N183 To The Dollar by APRIDE(m): 4:05pm On Dec 01, 2014 |
This has little or nothing to do with the presidency, it is solely due to the plummeting oil price. Although, we should have diversified by exploiting other sectors but we are too myopic and reliant on oil for sustenance. The balance between injections and leakages into our national income equation cannot be accounted for as corruption has taken lead in the queue of leakages. That is by the way. For those of you who still clamour for naira dollar parity sighting examples of the early 80s where Nigeria was more or less a closed economy; you should understand that the structural adjustment program which was part of Babangida's economic policy designed to revamp the economy that was taking a similar downturn changed the exchange rate regime from being fixed to flexible among other things. The fixed exchange regime allowed Nigeria to peg the naira against the dolar for any rate it pleased, then naira was valued more or at parity with the dollar. The flexible exchange rate allows the naira to find its 'realistic'value in the market which is majorly determined by the interplay of demand and supply. This is better for any country that has embraced globalization as the flexible exchange regime is like a shock absorbed capable of insulating the domestic economy from external price perturbation. China are able to peg their exchange rate because they have more favourable trade terms than many countries. Conversely, Nigeria are vulnerable to all the negative fall outs of fixed exchange regime since they are majorly an importing economy and have less favourable trade terms with world powers. So unless we effectively minimize corruption, reduce subvention to govt parastatals, embrace and optimize other resources at our disposal, commercialize and privatize some govt owned organisations, coupled with other monetary and fiscal policies, our economy will still be at the mercy of more catastrophes. So this is wholly not the President's fault but an inherited culture. 2 Likes 1 Share |
Re: Devaluation: Naira Now N183 To The Dollar by Nobody: 4:14pm On Dec 01, 2014 |
IAMGEJ:The blame should go to the CBN, not the Finance ministry because the former manages and controls the currency. |
Re: Devaluation: Naira Now N183 To The Dollar by IAMGEJ(m): 4:17pm On Dec 01, 2014 |
You should know dat Okonjo is more dan a mere minister of finance. CFCfan: |
Re: Devaluation: Naira Now N183 To The Dollar by Nobody: 4:21pm On Dec 01, 2014 |
IAMGEJ:Yes, I know she's also the coordinating minister for the economy. Her role is proposing and implementing broad fiscal policy, not monetary policy. |
Re: Devaluation: Naira Now N183 To The Dollar by david22uu(m): 4:24pm On Dec 01, 2014 |
I THINK THE MAIN BLAME SHOULD GO TO TWO PEOPLE IN THE COUNTRY, NO 1: EMEFELE AND NO 2: OKONJI IWEALA WHEN EMIFELE ASSUMED OFFICE, HE FIRST WENT AFTER THE BUREAU DE CHANGE (BDC) ACCUSING THEM OF SPOILING AND DEPICTING THE NATIONAL RESERVES INSTEAD OF GOING AFTER THE BANKS WHO RECKLESSLY SELL FOREX WITHOUT PROPER DOCUMENTATION, TAKING BRIBES LIKE IF IT IS THEIR RIGHT FOR YOU TO GER HARD CURRENCIES. OKONJI ON HER OWN PART HAS NEVER ADVISED THE GOVERNMENT ON A STRONG BACK UP PLAN FOR THE NATION IN THE CASE OF DWIDLING CRUDE OIL PRICES. THE MINISTRY OF FINANCE HAS NO BEEN SO CLEVER TO KNOW THAT WITH THE DROP OF CRUDE OIL PRICE THERE IS SUPPOSE TO BE A CORRESPONDING DROP IN THE PETROL PUMP PRICE WHICH WILL ADD POSITIVE VALUE TO THE ECONOMY, INSTEAD THEY KEEP ON TALKING ABOUT HOW TO REMOVE SUBSIDY..... SHAKE MY HEAD FOR THE NATION 1 Like |
Re: Devaluation: Naira Now N183 To The Dollar by Nobody: 4:25pm On Dec 01, 2014 |
torhuke: the thunder that is going fire you is still doing press up. |
Re: Devaluation: Naira Now N183 To The Dollar by Nobody: 4:27pm On Dec 01, 2014 |
papiforreal: The Thunder that will fire you is still gathering momentum. |
Re: Devaluation: Naira Now N183 To The Dollar by Nobody: 4:32pm On Dec 01, 2014 |
Adminisher:You are a very big ediot. So how has the nonsense you posted up there increased our foreign reserves or improved the naira? Because I didn't join your uselessness and hopelessness to hurl insult on the president, you quote me just to type your stupidity in other letters and words. If I am a double fool, only u is a combination of all the foolishness in your village so only u is a FOLISHNESSES. |
Re: Devaluation: Naira Now N183 To The Dollar by cupidhero(m): 5:07pm On Dec 01, 2014 |
i dey fear o..abeg it should not go up again, even if it is 170 per dollar we will manage it. |
Re: Devaluation: Naira Now N183 To The Dollar by Nobody: 5:24pm On Dec 01, 2014 |
abbeyoye2001: I hope you're being sarcastic. |
Re: Devaluation: Naira Now N183 To The Dollar by Yinkagbo(m): 5:55pm On Dec 01, 2014 |
Now 184naira to a usd.. |
Re: Devaluation: Naira Now N183 To The Dollar by miquelon(m): 6:04pm On Dec 01, 2014 |
Is the naira gonna be worth the paper its printed on by dec. 31st? "the day you take away a man's ability to feed himself is the day you lose his loyalty" ask louisxiii or hosni mubarak |
Re: Devaluation: Naira Now N183 To The Dollar by pumpingmachine: 6:17pm On Dec 01, 2014 |
sholatech:you get point sha |
Re: Devaluation: Naira Now N183 To The Dollar by Sylvarresta(m): 6:36pm On Dec 01, 2014 |
Good news for me and my fellow working boys..... Na to hammer sure pass now. |
Re: Devaluation: Naira Now N183 To The Dollar by onatisi(m): 6:41pm On Dec 01, 2014 |
miky:thank you oooo. Please kindly educate these nigerians that the devaluation has got nothing to do with gej or pdp. All major currencies worldwide are going down also. The malaysian rinngit,japanese yen, russian rubble and others are also losing points and are been devalued . m.bbc.com/news/business-30276353 |
Re: Devaluation: Naira Now N183 To The Dollar by onatisi(m): 6:43pm On Dec 01, 2014 |
Malaysia's oil-dependent ringgit also suffered heavy losses, while the yen hit a seven-year low against the dollar and Nigeria's naira was down 2% to a new record low against the greenback. China slows The slide in oil prices was compounded by China's factory activity slowing by more than expected in November, with the official purchasing managers' index (PMI) dipping to 50.3 in November from October's 50.8, closer to the 50 point mark that separates growth from contraction. The fears of declining demand from China also sent copper prices to their lowest level in four-and-a- half years in London and hit shares in mining companies. Neil Williams, chief economist at fund manager Hermes in London, said: "Over-optimistic global growth forecasts have been pared back, and probably rightly so, and also China has come back on to the radar. And that of course has become a big driver for a lot of commodity prices." Adding to the gloom were figures showing that eurozone manufacturing growth stalled in November as new orders fell at the fastest pace in 19 months, despite heavy price cutting. |
Re: Devaluation: Naira Now N183 To The Dollar by olawalebabs(m): 7:14pm On Dec 01, 2014 |
I remember in 1999, when a dollar exchange for N88, we thought that is the highest (worst) we can get. here we are today. 1 Like 1 Share |
Re: Devaluation: Naira Now N183 To The Dollar by Kingspin(m): 7:18pm On Dec 01, 2014 |
Some persons just come online only to talk down on mr president when actually they dont really no exactly why they dislike the gentle man. They are just fellow-fellow. How is the drop in oil price in the int'l market is to be blame on GEJ. I simply notice that these people feeding on free oil money have completely lost better side of their sense. God help una. |
Re: Devaluation: Naira Now N183 To The Dollar by UyiIredia(m): 7:18pm On Dec 01, 2014 |
This ain't good |
Re: Devaluation: Naira Now N183 To The Dollar by RaeMystix: 7:26pm On Dec 01, 2014 |
Its actually 179 naira to a Dollar |
Re: Devaluation: Naira Now N183 To The Dollar by Kingspin(m): 7:35pm On Dec 01, 2014 |
sandraokosun:Oil mentality.. |
Re: Devaluation: Naira Now N183 To The Dollar by Nobody: 7:54pm On Dec 01, 2014 |
Its a pity none of u here is luking at it from d positive angle. Dont u knw dat wil simply discourage importation ? There by giving chance 2 domestically produced goods |
Re: Devaluation: Naira Now N183 To The Dollar by emma4eva(m): 8:32pm On Dec 01, 2014 |
I assure you its rising, CBN is selling to BDC operators this week at the rate of 171naira to a dollar unlike last week which was 151naira... expect bigger changes in dollar price from Wednesday. |
Re: Devaluation: Naira Now N183 To The Dollar by basit322(m): 8:53pm On Dec 01, 2014 |
spanzed: To give us window dress account |
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