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Nairaland Forum / Nairaland / General / Business / Naira Depreciates By N7 - Vanguard (19427 Views)
Naira Depreciates Further As Dealers Await New FX Regime / Naira Depreciates To N355/$ / Naira Depreciates By N2 Against Dollar (2) (3) (4)
Re: Naira Depreciates By N7 - Vanguard by aenero(m): 9:09am On Aug 07, 2015 |
Useless people in power that don't know there job,if they like let them peg it at #5000 to 1dollar,it's so sure my family and I won't go hungry... Useless government both past and present |
Re: Naira Depreciates By N7 - Vanguard by jaybee104(m): 9:09am On Aug 07, 2015 |
h |
Re: Naira Depreciates By N7 - Vanguard by sigiyaya(m): 9:10am On Aug 07, 2015 |
Baba but why can't Naira be steady |
Re: Naira Depreciates By N7 - Vanguard by seankay(m): 9:10am On Aug 07, 2015 |
I remember a dollar was 150 naira early last year 2 Likes |
Re: Naira Depreciates By N7 - Vanguard by Nobody: 9:13am On Aug 07, 2015 |
momentum85: If I remember well he said 1 dollar = N1000 |
Re: Naira Depreciates By N7 - Vanguard by Nobody: 9:14am On Aug 07, 2015 |
greatiyk4u: There ll be no lite in the tunnel unless we put it there. |
Re: Naira Depreciates By N7 - Vanguard by maximilian19(m): 9:15am On Aug 07, 2015 |
He say he will make N1 to be equal to $1 but he neva say if it US dollar or canadian dollar or liberia dollar or australia dollar or zimbabwa dollar, but what am seeing now is N1 equaling 1 zimbabwa dollar. Post mailbox (PMB) 1 Like |
Re: Naira Depreciates By N7 - Vanguard by lovemoi2(f): 9:16am On Aug 07, 2015 |
SeverusSnape: yeah you have no idea what you are typing In four years fool!!! its not overnight like the get rich quickly scheme your brothers do he is not a fraud or drug sellers , like you guys things are done in process ""what some of you would need to learn with time"" you guys are so used to corruption because you want to make money fast.. reason why you are armed robbers on the street' selling fake drugs or drug sellers in Indonesia 1 Like |
Re: Naira Depreciates By N7 - Vanguard by dview001(m): 9:18am On Aug 07, 2015 |
Don't be suprise next month 1000naira will equals 1dollar...dis vote CHANGE tin na scam.....u knw say open teeth pple make d loudest noise(I no call pesin name o)Lol |
Re: Naira Depreciates By N7 - Vanguard by dview001(m): 9:24am On Aug 07, 2015 |
aenero:y are u boasting if u and your family are so rich y not keep quiet and enjoy ur bloodmonies and let d average nigerian focus on prayin for a better economy so they won't go hungry......u r an enemy to change useless patriot |
Re: Naira Depreciates By N7 - Vanguard by ugoyibo: 9:30am On Aug 07, 2015 |
no comments yet, i am still observing. |
Re: Naira Depreciates By N7 - Vanguard by greatiyk4u(m): 9:36am On Aug 07, 2015 |
kaeforum: I think our effort shld b about crossing d tunnel not putting light cos God's light is already sufficient. @ d end of every tunnel...........hope u knw d meaning |
Re: Naira Depreciates By N7 - Vanguard by Thebrightest(m): 9:37am On Aug 07, 2015 |
Abeg where i fit apply for juju money? |
Re: Naira Depreciates By N7 - Vanguard by dview001(m): 9:43am On Aug 07, 2015 |
Thebrightest:go biafra |
Re: Naira Depreciates By N7 - Vanguard by TIMEISWISDOM(m): 9:47am On Aug 07, 2015 |
greatiyk4u:again? When was Nigeria ever great. |
Re: Naira Depreciates By N7 - Vanguard by greatiyk4u(m): 9:55am On Aug 07, 2015 |
TIMEISWISDOM: When it was the Giant of Africa.. |
Re: Naira Depreciates By N7 - Vanguard by dview001(m): 9:57am On Aug 07, 2015 |
jaybee104:great indeed no constant light.....u must be daydreamin |
Re: Naira Depreciates By N7 - Vanguard by dview001(m): 9:59am On Aug 07, 2015 |
greatiyk4u:na u feed her to become a giant abi?u beta find someplace to sit |
Re: Naira Depreciates By N7 - Vanguard by jaybee104(m): 10:00am On Aug 07, 2015 |
dview001:are u from tanzania or serialone? |
Re: Naira Depreciates By N7 - Vanguard by Holyghostpikin(m): 10:02am On Aug 07, 2015 |
Icecomrade:God bls u jare I guess you are an economist! Am proud to be one in making! |
Re: Naira Depreciates By N7 - Vanguard by TIMEISWISDOM(m): 10:06am On Aug 07, 2015 |
greatiyk4u:but she is still the giant in population but was never anywhere near great please learn your history |
Re: Naira Depreciates By N7 - Vanguard by greatiyk4u(m): 10:22am On Aug 07, 2015 |
TIMEISWISDOM: D prblem wt Nigerians is lack of patriotism ......Nigeria was more dan mere population.......... |
Re: Naira Depreciates By N7 - Vanguard by dview001(m): 10:27am On Aug 07, 2015 |
jaybee104:I can see u don't understand d definition of greatness and by d way ama nigerian |
Re: Naira Depreciates By N7 - Vanguard by jaybee104(m): 10:35am On Aug 07, 2015 |
dview001:shebi na one of doze countries me mention na giant of Africa? abi na ur village ni? |
Re: Naira Depreciates By N7 - Vanguard by IbokUtoroh(m): 10:54am On Aug 07, 2015 |
Addicted2Succes:the only patriotic citizens r the ones shouting Allahu akbar when heading for destruction. 1 Like |
Re: Naira Depreciates By N7 - Vanguard by kunle75(m): 11:00am On Aug 07, 2015 |
damiloladuke: yes it will affect the local commodities but in the long run and not in the immediate because of the way things are run around here,.most of the commodities cant stay too long on the shelve and more so,some people will be willing to sell with small margin to profit, thereby creating stiff competition on the sales mkt and force other to start selling there hoarded goods in the long run.pls dnt quote me but thats my little economy understanding of things. Thanks |
Re: Naira Depreciates By N7 - Vanguard by chuksmad(m): 11:03am On Aug 07, 2015 |
People should not panic, this is expected now, but with time everything will stabilize. [size=20pt]For practical knowledge of basic html and css coding with Dreamweaver, visit www.prislaw.com[/size] |
Re: Naira Depreciates By N7 - Vanguard by Nobody: 11:06am On Aug 07, 2015 |
Icecomrade:These are 'Try your luck' financial policies. Even in game theory you have to have a strategy. CBN are just playing games and bringing fire brigade policies. Buhari needs an economic team not this uncoordinated practice. I am wondering if CBN governor is actually in charge or someone is somewhere giving this directionless directives. We have never had it this bad since independent, except when IBB brought SAP and the parallel market spiralled overnight 1 Like |
Re: Naira Depreciates By N7 - Vanguard by 19naia(m): 11:51am On Aug 07, 2015 |
There are a few countries with smaller economies than Nigeria and those countries did make their currency units equal to one unit of US dollar. Do you know how that happened or what happened to make it so? What happened was the full dollarization of their economies. Their currency has become the very US dollar itself. What happens is they spend the dollar while their economy and resulting internal price rates are adjusted to dollar values. One US dollar actually buys more local staples there than in the USA. People actually need more dollars to survive in USA than those countries. Panama, Ecuador and Elsalvador are three countries that dont even circulate their own currency anymore. Many other countries with their own currency intact, are dollarized to the extent that you can go shopping anywhere in the country with a wallet full of dollars and it will be accepted and even preffered. Its like that in most central and south american countries as well as most countries on earth that cater to major daily flow of american tourist and business people. Panama actually still list its former currency, the Balboa and it lists as one balboa to one us-dollar. That parity is a direct result of complete dollarization of their economy. Not a result of the strength or size of their economy. If Nigeria really was serious about 1 Naira equaling 1 US-Dollar, Nigeria would do opposite of its current course and promote the full Dollarization of the economy. Make the dollar so available and the Naira so scarce, that people would pay $1 just to get 1naira in their hands. Eventually they would simply spend the dollar and CBN would save effort and money by not having to mint currency anymore. The pitfalls of circulating a currency whose minting or printing you do not control, is that counterfeiting also gets out of control. Lots of counterfeit dollars flowing around in fully dollarized non US dollar economies. The banks are the main ones of only few outlets there to avoid counterfeit dollars, They screen the currency well in banks. Small local markets and businesses are where the counterfeits more freely flow around. Does Nigeria Really want naira to equal dollar by any means nessecary? Do Nigerians really know what that means ? ~ ^^^^^. The hard slow work of economy building in Nigeria is the way to go. In fact, there are countries with smaller economies than USA that have currencies greater than the value of the dollar or pound. The oil rich middle eastern countries are the ones to name. Its possible for Naira to be greater in value than dollar, but the real approach and work must be put in. Nigerias Petty banking manipulations is just that, petty manipulation of currencies. Do you know that China rose to an immense economy and got some of the benefit of that by actually manipulating their currency to be of lesser value in the world. ? China is now working on a currency to rival the dollar but only after having secured its economy as the largest in the world. Do Nigerians ever consider that maybe a low value Naira is the best way to attract investors and grow export sectors? Growing the economy is the best way to grow the naira value, and letting the naira be of low value is a way to grow the economy. China did this and now look at their economy... 1 Like |
Re: Naira Depreciates By N7 - Vanguard by Inception(m): 12:29pm On Aug 07, 2015 |
19naia:Question for you: the current exchange rate to the dollar not low enough? |
Re: Naira Depreciates By N7 - Vanguard by omooba969(m): 1:54pm On Aug 07, 2015 |
Wotz £ - # now? |
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