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Nairaland Forum / Nairaland / General / Business / Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years (55585 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 NaLaugh: 3:25am On Dec 12, 2015 |
BuddhaPalm: Dude, I have a degree from an Ivy League college, I'm pretty sure I can read. My comment wasn't suggesting the items were "banned," according to the article. The underlying motive to cut their access to foreign currency IS to dissuade them from importing those products. This consequently forces a drop in their importation, with the same desired effect a ban would have on the currency. They might be forced to the black market, but at a lower output. Again, the short term negative effect is inconsequential in the grand scheme of things. Except the status quo is somehow desirable to Nigerians. No pain, no gain. I have/am not disagreeing with anything you've said per se. I have only offered a different perspective. |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by October1960: 3:31am On Dec 12, 2015 |
Which party delivered the final blow to the economy? Was it not the 16 years of PDP rule. Now after stabbing the patient (Nigeria) for 16 years the doctors arrive and you blame them for attempting to fix the mess created by 16 years of mis-rule. Kenai: 1 Like |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by ngoziama: 3:33am On Dec 12, 2015 |
Papertrail11: I feel u my friend.the solution to my business now is to leave nigeria for other countries and I have concluded the plans.we are in deepshit. Its time we ensured thorough debate and grilling of presidential aspirants to ensure that brains and not olodo leads the country.a useless country wher you cant buy currency in the bank but from bdc ...and you call it one nigeria. RUBBISH .buhari knows no jack and will compound problems if he doesn't listen to brains . 1 Like |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by ngoziama: 3:36am On Dec 12, 2015 |
ifyan: It is true infact pound is 369 and dollar is 260 |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Nobody: 3:37am On Dec 12, 2015 |
Our economy is In shambles.. I just pray this shiit doesn't affect my investments in the stock exchange market. So help me God! |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Ahmeduana(m): 3:38am On Dec 12, 2015 |
ifyan:JUST SHOT UP YOUR MOUTH IF DON'T KNOW WHAT TO SAY, IS IT UNTIL IT GET to 260# BEFORE YOU REALISE THAT NIGERIA IS FAST SINKING? EVEN FASTER THAN QUICKSAND! YOU KEEP CREATING EXCUSES FOR BUHARI UP TILL YOU'VE NOT RUN OUT OF EXCUSES, WHEN ALL OF US WERE SHOUTING THAT THIS MAN IS NOT CAPABLE, PEOPLE LIKE YOU WERE SAYING THAT EVEN IF HE PRESENT NEPA BILL AS CERTIFICATE YOU WILL VOTE FOR HIM, WHAT YOU DID EXPECT FROM A PERSON THAT IS ONLY CREDENTIAL IS ANTI-CORRUPTION, NOW HE HAS WON THE ELECTION PRESIDENT HARRY PORTER SHOULD PERFORM MAGIC WITH IS MAGICAL WAND. UP TILL PEOPLE LIKE FAIL TO REALISE THAT YOUR PRESIDENT REPRESENTS THE NORTHERN OLIGARCH. 1 Like |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by October1960: 3:43am On Dec 12, 2015 |
There are a few core reasons for devaluation. 1. A consumer society. We as a people like imported things designer clothes, shine shine things etc 2. No innovation, locally created and manufactured or high intellectual items think of such things as Apple, FB, Instagram, some are physical items others intellectual creations which bring income for developed countries. 3. Massive corruption and mis-management at all levels for many decades. There is enough blame to go around. 3 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by October1960: 3:51am On Dec 12, 2015 |
Lol like your analogy of toasting Nigeria like toasting a female. Well APC have 'cum' like other politicians before them. They have lost interest. Perhaps the oil price at 40% of last year has shown there is not enough money for them to share and steal like PDP. Sanchase: |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Angelovic96: 4:15am On Dec 12, 2015 |
Raiders: hahahahahahaha! look at what change has done to dis grammar 3 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by October1960: 4:17am On Dec 12, 2015 |
Well said. The truth. Naijas and their rush rush mentality. Some people expect 16 years of BAD or rather no management to be repaired in 6 months. it took Obama and his team about 4 years to right the US economy. And the US economy is a real economy not the "join government and steal economy" of Nigeria that distorts and disrupts real economic progress. InvertedHammer: 4 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Angelovic96: 4:24am On Dec 12, 2015 |
October1960: you are a fool at what ever age you are now have you ever considered why we gave APC our mandate 2 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by crestrader(m): 4:41am On Dec 12, 2015 |
Na Jonathan cause am abio? |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by AmeLonRo(m): 4:57am On Dec 12, 2015 |
Banks will tell you they do not have dollars. So, most people have to patronise mallams!. If am lying go to any bank in Nigeria on monday and tell them you want to buy dollar at 197 and see the reaction. They will always tell you they do not have. ifyan: 2 Likes |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by wilcox(m): 5:02am On Dec 12, 2015 |
All I can say is that they was a country. 1 Like |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by tunde1200(m): 5:03am On Dec 12, 2015 |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by AmeLonRo(m): 5:07am On Dec 12, 2015 |
Thank you jare, Nigeria is a consumer society. Most things are bought from outside with dollars. Electronics especially in addition to others. October1960: |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by onunwa21(m): 5:20am On Dec 12, 2015 |
U re lyn #1 equals $1...........change is here 1 Like |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by hopilo: 5:38am On Dec 12, 2015 |
babyfaceafrica:Guy will you stop this display of ignorance in the public. Don't make me believe what the keep saying about touts on Nairaland 1 Like |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by 989900: 5:43am On Dec 12, 2015 |
This is sad! All the past goverments joined hands in effectively ruining this country. Jonathan's government had the chance to make things better with oil @ more than $110 for a long while, but squandered that! Buhari is trying generally, but he could do far better economically. As it is, he and his economic team are just not getting this right fast enough -- the desire is there, the purpose and intent, but the pace is slow, and the decisions and policies poor. They need intellectual help, fast! The economy is sinking! P.S. As long as we continue to import refined products (in-lieu of refining our own crude), and some other nonsense products that we actually have here or can produce here, there will always be big problem with the Naira. Throw in unstable power supply and 'gen' consumption; factor in artificial excess liquidity created by the CBN, and some other 'whack' CBN's monetary policies. 1 Like |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by keneharry: 5:50am On Dec 12, 2015 |
This is now a very serious issue oo..what is our president and finance minister doing to cub this things...Goodluck's administration wasn't xo bad as this oo |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by miqos02(m): 5:51am On Dec 12, 2015 |
hmmmm |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by davabiao(m): 5:53am On Dec 12, 2015 |
Kenai:This is just the beginning. When we allow #morons to lead us. God help Naija. |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Nobody: 5:57am On Dec 12, 2015 |
babyfaceafrica:E don help importers. Mtcheew! |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by mama777(f): 6:00am On Dec 12, 2015 |
dis is really really bad.why causing untold hardship to people.but is also an opportunity for those living abroad to send dollars to der families |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by diva90: 6:07am On Dec 12, 2015 |
Patiently waiting for dollar to be N270 or more, so that I can change my dollars |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Demmocrats(m): 6:13am On Dec 12, 2015 |
InvertedHammer: /** What language do you code with **/ |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Nobody: 6:13am On Dec 12, 2015 |
I can't wait to hear what a certain thug governor is going to say about this But wait, he's probably sweeping the streets or running ero ilota. |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Question2015: 6:13am On Dec 12, 2015 |
How can I send Dollars from the United States to Nigeria and the recipients will get it at the parallel rate or get it in Dollars? Western Union and Moneygram are giving the official rate (less than 200 Naira to a Dollar) to recipients. Thank you. |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by drnoel: 6:21am On Dec 12, 2015 |
Kenai: samething we say everyday, we tell them but they refuse to listen. Nobody goes pointing at a witch when you know the witch knows where you stay or go to the market place to say that John is a thief when he came to your house the day before to drink. This government bastardized the previous one and only insisted on probing GEJ government but in a bead to punish the man just because he embarrassed them and gave up power but all those is just to hide the Facts. The Facts are that the Nigerian econmy is in recession, forex market crashed last week, oild Prices are on free fall, the niara has taken ist first real noise dive after 42 years and they will come to tell us that GEJ is fault when all they wanted was to us alamarijis to wrestle power from him. Fine you have gotten the power, tell us what you have for Nigerians their Brains went into a Plateau because they had no other plan in mind. Had not thought further inline beyond having that power. A Person can never give what he doesnt have and this government doesnt have it. QUote me anywhere "Nigerians are in Trouble with this government". 1 Like 2 Shares |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Nobody: 6:24am On Dec 12, 2015 |
Papertrail11: My Guy, Malams ,abokis and Muslims owned bureau de change business in naija Malam bubu will rather die first than "take food from a fellow Malam mouth, |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by babyfaceafrica: 6:31am On Dec 12, 2015 |
hopilo:swerve..who know you? |
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by tete7000(m): 6:34am On Dec 12, 2015 |
Since I was born and grew to know Naira, it has always been falling. This is no news to me. God will sustain his own through these turbulent days. |
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