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Nairaland Forum / Nairaland / General / Politics / Naira Further Crashes To N245 Per Dollar As Reserves Rise (22176 Views)
Foreign Reserves Rise To $30.5B As CBN Targets $40B Before Year End / External Reserves Rise Further, Now $25.4bn / Nigeria’s Foreign Reserves Rise To $31.5 Billion (2) (3) (4)
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Naira Further Crashes To N245 Per Dollar As Reserves Rise by ShowYourCertificate: 6:48am On Jul 15, 2015 |
The value of the naira continued to sink at the parallel market yesterday selling at N245 to the dollar and N366 to the British pound even as the external reserves and inflation figures of the country maintained a steady rise.http://leadership.ng/business/447001/naira-dips-to-n2451-as-reserves-rise 4 Likes |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by segemint(f): 6:50am On Jul 15, 2015 |
The benefit of being paid in dollar tho making cool extra cash. 6 Likes |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by MixedMan: 6:52am On Jul 15, 2015 |
Shey na like this we go dey Dey Buhari and APC Just Worsened The Economy! Chaii! There is God o! 40 Likes 6 Shares |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by California1(m): 6:53am On Jul 15, 2015 |
Oh my goodness what is going on in Nigeria. ...... 8 Likes 1 Share |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by DaBullIT(m): 6:54am On Jul 15, 2015 |
Chai , why did i not learn yahoo ? 18 Likes |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by ShowYourCertificate: 6:55am On Jul 15, 2015 |
I wonder what Buhari scored in Economics in his WASC. 72 Likes 4 Shares |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by dunkem21(m): 6:57am On Jul 15, 2015 |
Lai Mohammed, let's hear from you .. Governance no be beans ..I salute you, GEJ. 72 Likes 9 Shares |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by jimi4us: 6:57am On Jul 15, 2015 |
so buhari is happy about all this . 10 Likes 1 Share |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by jimi4us: 6:57am On Jul 15, 2015 |
buhari and the CBN man are confuse oooo!! 24 Likes 2 Shares |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by Ufranklin92(m): 6:59am On Jul 15, 2015 |
una never see anything 25 Likes 3 Shares |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by sweatlana: 7:05am On Jul 15, 2015 |
All talk and no work makes buhari a lying bastard... 37 Likes 2 Shares |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by docphresh(m): 7:05am On Jul 15, 2015 |
One of the people flexing this things are those adsense bloggers paid in dollars by Google.. |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by generaliy07(m): 7:05am On Jul 15, 2015 |
Jesu Abeg check my signature and keep hope alive I know we'll get there someday 1 Like |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by Nobody: 7:05am On Jul 15, 2015 |
As the best Economics student when i was in secondary school even though i was a science student. Lemme contribute my 2 cents..........Screw Buhari Op do you think if i step on the foreign reserves account with my cleats =#= go rise 1 Share
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Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by Tallesty1(m): 7:06am On Jul 15, 2015 |
To buy online these days dey fear me like tomorrow no dey |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by Bimffo(m): 7:06am On Jul 15, 2015 |
Choiiii.. E don happen finally.. 1 Like |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by Nobody: 7:06am On Jul 15, 2015 |
I blame Yoruba people for all this...all bent on removing GEJ. On may 30th a dollar was 215 naira. Within a month and half of GMB in office it has fallen in value by a whopping 30 naira; unprecedented in the history of Nigeria. This is outrageous! 43 Likes 1 Share |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by ednut1(m): 7:07am On Jul 15, 2015 |
the economy is hovering around a bermuda like triangle. if pa go slow does not act fast and appoint a fin minister. the economy is headed for a disastrous and pestilential aqua . 1 Like |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by edlion57(m): 7:07am On Jul 15, 2015 |
very soon naira will become CHANGE and that is what der promised us 16 Likes 1 Share |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by Olofintoto(m): 7:07am On Jul 15, 2015 |
DaBullIT:nothing is ever too late. For PMB to become president at 70+, I see no reason why u can't start now. I hope u will accept my little piece of advice. Thanks. 6 Likes |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by royale442(m): 7:07am On Jul 15, 2015 |
Nigeria will be better. 1 Like |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by Nobody: 7:09am On Jul 15, 2015 |
I believe in #Change |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by Mopolchi: 7:09am On Jul 15, 2015 |
na so e go be. |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by Franchise21(m): 7:09am On Jul 15, 2015 |
We re in for trouble |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by icemann(m): 7:09am On Jul 15, 2015 |
The budget was calculated at $60 for oil but currently oil is trading at $ 57 a barrel. It's going to get lower than $57 when Iran sanctions are lifted. It is estimated that oil would drop to around $40 to $45 range by end of this year when Iran's oil hit the market. So by the end of the year i estimate 300 to a $1. SO CONVERT YOUR SAVING TO DOLLARS. Exchange rate has never gone down so you will not lose money. Look at it this way, imagine an individual earning 100K and later it drops to 60k(40% drop). First the savings gets spent(excess crude account). Cuts would be made on luxury items like Friday night Moet (private jet). Next siblings and girl friend allowance( fuel subsidy) and the list goes on till equilibrium is reached. Less earnings means less Dollars in circulation(since Nigeria mooches off the govt earnings). So the demand for dollars is high aka high exchange rate. Its more complex than what i explained but its gives you an idea. To cushion that effect CBN would raise interest rates to around 20% to 30%. This is to cushion inflation and attract foreign bonds Alternative approach which is riskier is to print money like the US did in 2008. Not a good advice but if it clicks Nigeria would survive this recession. 7 Likes |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by Timoleon(m): 7:09am On Jul 15, 2015 |
The economics of 'Zimbabweism' loading! 3 Likes |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by Nobody: 7:09am On Jul 15, 2015 |
segemint:What benefit when the price of goods and services shoots up by 50-100%? You may feel that you have the extra cash but there isn't any significant difference when you put into consideration the buying power of your cash. It affects everyone negatively irrespective of how you look at it. 3 Likes |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by lordtech(m): 7:10am On Jul 15, 2015 |
Hmmm, speechlesd |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by Nobody: 7:11am On Jul 15, 2015 |
Nigeria's economy is really on d downlow 1 Like |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by wheesin(m): 7:12am On Jul 15, 2015 |
o |
Re: Naira Further Crashes To N245 Per Dollar As Reserves Rise by Vikkie14: 7:12am On Jul 15, 2015 |
Did Mr President even pass Economic in School at all?? Is it until Naira hit #300 a Dollar before he sees the need for Ministers?? 7 Likes |
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