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Nairaland Forum / Nairaland / General / Business / Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years (55592 Views)
Naira Finally Improves At The Interbank Rate / Naira Crashes To 288/dollar At New Official Market / Naira Finally Devalued To N290/$ By Buhari (2) (3) (4)
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Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by mamagee3(f): 10:33pm On Dec 11, 2015 |
That's good news!!! |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by lebesgue(m): 10:33pm On Dec 11, 2015 |
And what will Nigerians do? We will resort to fasting and prayers. |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by felixchip(m): 10:35pm On Dec 11, 2015 |
dOnLarich: Please, do you have that video? I need it combaaaaaad bad! 1 Like |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by HzRF(m): 10:35pm On Dec 11, 2015 |
Raiders:I As expected 7 Likes
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Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by rozayx5(m): 10:36pm On Dec 11, 2015 |
where is ngeneukwenu the transgendered economist 16 Likes 1 Share |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by lagdmark(m): 10:37pm On Dec 11, 2015 |
Buhari naa area scatter 5 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by dvic(m): 10:37pm On Dec 11, 2015 |
Gtbank charge me 239 today ...using my gtbank ATM card in the state 6 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Crieff(m): 10:38pm On Dec 11, 2015 |
repogirl: Ignorance isn't a crime. Maya, of blessed memory, said, when you get-give, when you learn-teach. 2 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by 4Play(m): 10:38pm On Dec 11, 2015 |
NaLaugh: The government can fix the offical exchange rate by fiat, during the Abacha era the official rate was 22 Naira to the dollar whilst the black market rates hit 85 Naira to the dollar. You may think this does not matter but the bigger the divergence the more difficult it is to access the dollar in the official market and the less likely it is that foreign investors would invest in Nigeria. The official exchange rate will increasingly become meaningless with time given this divergence. 11 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by macaranta(m): 10:39pm On Dec 11, 2015 |
In summary,if you earn in Naira and spend in dollars you are doomed. 5 Likes 2 Shares |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Nobody: 10:39pm On Dec 11, 2015 |
Gaborone: 30 Likes 4 Shares |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Nobody: 10:41pm On Dec 11, 2015 |
MrPresident1:D Zoo has fail l |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Nobody: 10:42pm On Dec 11, 2015 |
I will b d 1st to hurl stones on buhari next year, his evil govt has failed. 2 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by murtalaa(m): 10:44pm On Dec 11, 2015 |
if you are a legitimate importer, you can access the dollar at official rate of 197. |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by BuddhaPalm(m): 10:45pm On Dec 11, 2015 |
mployer: I believe he meant to say buying... |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by mployer(m): 10:45pm On Dec 11, 2015 |
NaLaugh: Comments like this make me laugh...bro, you know nothing about this. 10 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by InvertedHammer: 10:47pm On Dec 11, 2015 |
Kenai:/ A person can be HIV+ for months/years without any visible symptoms. But once it develops into a full blown AIDS, death is inevitable. Take Jonathan's administration as the incubation period of the virus called corruption. Even though undetected, it was eating away the fabrics of the Nigerian society. Now Nigeria is suffering the full repercussions of the corruption incubated during Jonathan's administration. You cannot separate today's hardship from the carelessness, wickedness and incompetence of Jonathan just as you cannot separate AIDS from HIV. These things take time to mature. Corruption planted during GEJ's tenure has germinated and you better be ready to taste the bitter fruits when it matures. $1== N260? Inflation will bite hard by next year. Better tighten your belts. The last cent of my fund in Nigeria has been wired out till things change. I don't trust Nigerian banks one bit in this pending harsh economic climate. Preemptive action is the way to go. Sadly Moneygram is still exchanging at N196. There you have it. / 9 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by IVORY2009(m): 10:47pm On Dec 11, 2015 |
Money in the bank, BUBU........ 260 X 20.000
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Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by BuddhaPalm(m): 10:48pm On Dec 11, 2015 |
NaLaugh: I am no economist, but remember imports... 1 Like |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by otiigba1(m): 10:48pm On Dec 11, 2015 |
Kenai:Absolutely! I am so glad there are still people with working brains in nigeria, only a great mind like yours will know this that buhari has nothing to offer nigerians, the whole change slogan was just to confuse, distract voters from the real issue, since buhari came into power the country has got worse and the gullible nigerians are still hoping for change, buhari has nothing to lose he is an old man who hasn't got much time on earth. Change was created to only exist in nigerians imaginations . There will never be any change now not next year not ever. 2 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by TimeManager(m): 10:49pm On Dec 11, 2015 |
I WAIL FOR WAILERS! First, Its Clear They Do not Understand What A Stringent Policy Is, "we" Do Understand, We Know That PDP Had Successfully Dollarised The Economy Hence APC Could Not Afford To Dollarise It Any further To The Detriment Of The Economy. I Hope You Know That BDC Are Hoarding Dollars And You Guyz Were Also Alive When BDC Were Busy Carrying Dollars To The Tune Of #350million To Saraki's House.BDC Are Hoarding Dollars For The Politicians To The Detriment Of The Masses. You Guyz Are Blind To See That The Top Politicials And Carpetbargers Are The Major Problems Of Our Time. Wait Till Next Year When The BDC New Capitalisation Policy Takes Full Effect While The CBN Relaxes The Current Policy, And Watch The Naira Becoming Stronger Against The Dollar Via Interchange Of Demand And Supply.Cant Blame You, Too Much Wailing Blurrs The Vision, So Ya'll Are Blind To See. Change Is Here! No Be Lie Na True! 3 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by chiedu7: 10:50pm On Dec 11, 2015 |
[size=20pt]LIES LIES LIES [/size] http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/ 6 Likes 1 Share |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by 4Play(m): 10:50pm On Dec 11, 2015 |
[quote author=Gaborone post=40920639][/quote] I said to a friend of mine that Nigeria's exchange rates are a good signal as to the efficacy of the much vaunted anti-corruption fight. If you believe 3 things: that GEJ's administration stole gargantuan sums of money, that Buhari's regime has put a stop to this and that Buhari is retrieving or will retrieve money stolen previously, it's unlikely the Naira will continue to fall. This is because those 3 premises will lead to large inflows of repatriated money. 2 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Nobody: 10:51pm On Dec 11, 2015 |
With all the economic problems facing the country now the president seems not to bother about it, because all meets and summits he has attended the major thing he talks about is "FIGHT CORRUPTION". Is it not better for him put on hold the fight against corruption first and fight the survival of the economy? 2 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by BuddhaPalm(m): 10:52pm On Dec 11, 2015 |
murtalaa: Which one be legitimate importer again? Enlighten us abeg. 3 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by JudgementHammer: 10:52pm On Dec 11, 2015 |
This is why the rich keep getting richer and d poor keeps getting poorer 1 Like |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by livefromnaija: 10:53pm On Dec 11, 2015 |
Raiders: People and pointing accusing fingers. This isn't GEJ tenure so leave the old man alone. 4 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by PEREP: 10:57pm On Dec 11, 2015 |
All we need is an increased economic activities with export as its end product to generate FX thats meets the local needs of Nigerians and the pressure on Naira will vanish. If we remain import dependent economy, it will only go further down. We had some good alternatives to increase our FX earnings in the banking expansion of 2007-2009 but unfortunately we got a CBN governor with zero urge for business but vigour to over-regulate the whole space which we are still paying for today. Just imagine if the likes of Akingbola has gotten a warning to ensure all toxic loans are regularized within 12 months or Atuche with the same marching order would have yielded a better result while the brands (PHB/INTERCONTINENTAL) attract FDIs among other benefits. The country will stabilize with increased spending by govt (6 Trillion for a start is not bad) with an eye on inflation @ the same time. Nigeria's handlers (from President down) need to understand all factors that are external but very influential to the outcome of every policy and handle them cautiously. 2 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by NaLaugh: 10:59pm On Dec 11, 2015 |
mployer: Enlighten me, oh dear professor. |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Nobody: 11:01pm On Dec 11, 2015 |
babyfaceafrica:is dat dsame amount Aboki will change it? |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Kaykay(m): 11:01pm On Dec 11, 2015 |
Are these not the effect of dollarisation of the economy by the past administration as exposed by Dasuki, Dokpesi &co .what you expect when the no 1 citizen decided that dollars should become the medium of exchange. It must first get to this level but Nigeria shall surely overcome. 1 Like |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by dumie(f): 11:02pm On Dec 11, 2015 |
I always knew that none of the recycled old politicians could be our saviour..But Nigerians don't learn...Bubu should better put his magic wand to work and stop gallivanting around the world 7 Likes |
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