Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,217,696 members, 8,035,148 topics. Date: Monday, 23 December 2024 at 03:35 AM

Value Of Naira Falls; Now 208 Naira To One Dollar - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Value Of Naira Falls; Now 208 Naira To One Dollar (41175 Views)

Unbelievable!!! Naira Falls To N485/$1, N600/£1 / Naira Falls To N370 Per Dollar / Naira Falls To 325 On Dollar Shortage -punch (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (Reply) (Go Down)

Value Of Naira Falls; Now 208 Naira To One Dollar by dealeh: 7:32am On Jan 24, 2015


The naira, on Friday, depreciated against the dollar as it traded at N208 from the N191.50 it sold for on Monday, January 19.

The News Agency of Nigeria (NAN) reported that the new rate had made the naira to lose N16.50 within five days.

The CBN’s website, however, put the naira against the dollar at N167.50, while the pound sold for N253.20 and the euro stood at N193.89.

The development has resulted into speculation in the market and caused ripple effects on other currencies.

NAN correspondent who visited some bureau de change and black market operators in Lagos said that they could not give rates to the pound sterling and the euro.

Dealers who preferred anonymity said that there was scarcity of dollars in circulation.

They said that the Central Bank of Nigeria (CBN) had stopped selling forex to the bureaux de change since last year.

The dealers added that the recent review of trading positions for the forex trading to 72 hours also contributed to speculation in the system.

The effect, they added, was that the naira could depreciate further by next week.

NAN recalled that the CBN in November 2014 devalued the naira.

http://www.tribune.com.ng/news/top-stories/item/27558-naira-now-goes-for-208-to-dollar

2 Likes 2 Shares

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by x6blade(m): 7:34am On Jan 24, 2015
*Spreads mat* cool

1 Like 1 Share

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by carik(m): 7:37am On Jan 24, 2015
This is serious

2 Likes

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by Nobody: 7:39am On Jan 24, 2015
its high time i bought lots of dollars and keep, so that i can change it when it gets higher!

20 Likes

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by ramdris(m): 7:39am On Jan 24, 2015
Transformation of the naira is taking place. GEJ till 2015!

140 Likes 9 Shares

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by smsshola(m): 7:43am On Jan 24, 2015
This is a big achievement what we call transformation agenda ...GEJ is working till 2019.

40 Likes 6 Shares

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by abiki(f): 8:15am On Jan 24, 2015
ramdris:
Transformation of the naira is taking place. GEJ till 2015!

SMH

5 Likes

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by abiki(f): 8:15am On Jan 24, 2015
smsshola:
This is a big achievement what we call transformation agenda ...GEJ is working till 2019.

Like seriously? SMH

21 Likes

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by carik(m): 10:01am On Jan 24, 2015
EroticAngelina:
its high time i bought lots of dollars and keep, so that i can change it when it gets higher!

Hahahaha
That's brainy!

7 Likes

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by Nobody: 10:21am On Jan 24, 2015
carik:


Hahahaha
That's brainy!
Thanks grin
Re: Value Of Naira Falls; Now 208 Naira To One Dollar by SaiBuharii: 10:40am On Jan 24, 2015
Jonathan's regime has finished us.

144 Likes 2 Shares

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by ggrin(f): 10:41am On Jan 24, 2015
shocked
Re: Value Of Naira Falls; Now 208 Naira To One Dollar by Blaqsmith(m): 10:41am On Jan 24, 2015
GEJ IS WORKING



VALUE OF NAIRA IS DROPPING



BOKO HARAM IS BOMBING



NIGERIANS ARE CRYING

196 Likes 15 Shares

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by michaelbiz: 10:41am On Jan 24, 2015
And some people are too blind to see GEJ HAS NOTHING MORE TO OFFER than to plunge this nation's economy into another round of debts!!!! This is the height of incompetence angry

145 Likes 12 Shares

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by Nobody: 10:41am On Jan 24, 2015
Yes....the benefits of an oil dependent society....a valueless currency!

Modified at 10.48 am

I keep on saying this...Nigeria has to forget about oil...and go into manufacturing. We may not see the beenfits now...but we will see it in the future. If we had continued on the path of manufacturing....we could have had a higher GDP...and more revenues...and a stronger currency.

But the problem with Nigerians is that they prefer stomach infrastructure things. So, govt has to find quick money to share...and yes...oil money is the answer.

But it has been used to hide the fact that we are a poor country. We do not have enough resources. And countries that do not have lots of resources do either of two things...invest in industrial and technical development(like China, Korea, Finland, Germany, etc)...or forever remain aid dependent.

It may sound like I am building castles in the sky when I say Nigeria can become industrialsed....but the fact is we have high unemployment...and we have a growing population....and the resources are few. Industrial development will provide jobs for many....and resources for welfare projects.

70 Likes 4 Shares

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by Olukokosir(m): 10:41am On Jan 24, 2015
lobatan ... tank God I v my own currency wey I dey spend

1 Like 1 Share

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by Nobody: 10:41am On Jan 24, 2015
OMG! Not again!

3 Likes 1 Share

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by MissyDivah(f): 10:42am On Jan 24, 2015
see gobe shocked #Change2015#

10 Likes

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by juniormusa(m): 10:42am On Jan 24, 2015
Haha GEJ till 2019 grin

1 Like

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by dmjinc(m): 10:42am On Jan 24, 2015
Where is my shillings undecided undecided

1 Like 1 Share

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by klem93(m): 10:42am On Jan 24, 2015
trash, oshi, useless government, awon oloriburuku.... CNN go come say our economy dey boom.... May G O D punish those behind this

62 Likes 3 Shares

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by mindworx: 10:42am On Jan 24, 2015
Jesu!

2 Likes

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by PerfumeRepublik: 10:42am On Jan 24, 2015
The Rich are taking their families out of Nigeria..
Only the dogs and baboons are left .
Capital flight ISH

11 Likes 1 Share

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by Lovexme(m): 10:43am On Jan 24, 2015
Good news for the yahoo boys.

20 Likes

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by lilprinze: 10:43am On Jan 24, 2015
This country is a big joke

4 Likes

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by Johnnoah1st: 10:43am On Jan 24, 2015
ATTENTION! ATTENTION!! ATTENTION!!! this is to inform all nigeria girls that there is presently a vancancy for the post of a girlfriend to my friend high chief president cristiano ronaldo aka (cr7) aka olu omo agaiye (world best) and his currently in need of a naija girl, TO APPLY PLS CONTACT ME VIA cr7friend@gmail.com .
NOTE: application fee is token not more than £10,000, tanks

5 Likes

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by endymetrix(m): 10:43am On Jan 24, 2015
EroticAngelina:
its high time i bought lots of dollars and keep, so that i can change it when it gets higher!
that's Forex Trading! cool

1 Like 1 Share

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by Nobody: 10:43am On Jan 24, 2015
.

2 Likes

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by mulablings007(m): 10:43am On Jan 24, 2015
tor
Re: Value Of Naira Falls; Now 208 Naira To One Dollar by Nobody: 10:43am On Jan 24, 2015
Kaaaaai...where is this country going from here¿

2 Likes

Re: Value Of Naira Falls; Now 208 Naira To One Dollar by mayorall(m): 10:44am On Jan 24, 2015
This is really bad for our currency.

3 Likes 1 Share

(1) (2) (3) (4) (5) (6) (7) (8) (9) (Reply)

Speculators Get Their Fingers Burnt, Naira Strengthens To N310/$ / 5 Lessons I Have Learnt From Earning Over N6 Million On Fiverr / How I Pampered Myself After Collecting My Contribution Of 4 Months.

Viewing this topic: 1 guest(s)

(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. 29
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.