The naira has unfortunately declined once again at the parallel market due to the persistence of dollar scarcity and now sells at N338 to a dollar.

[img]http://3.bp..com/-06yKd9uLWFk/Vr7pjOTD2qI/AAAAAAACSKs/2WJQEJc7Qxw/s400/naira-Dollar.jpg[/img]

The local currency had closed at 335, 318, 313.5 and 310 on Thursday, Wednesday, Tuesday and Monday, respectively.


The CBN has left the official exchange rate unchanged at N197 to the dollar on its official interbank window.


Source: http://bazenaija.com/is-it-heading-to-n1000-current-naira-to-dollar-rate-is-now-n338-1/

CC: lalasticlala

Yeah we know

It is sad, as long as we keep importing nonessential products like tomato purry, toothpick, matches and also keep gallivanting around, the Naira will continue to fall.

WE HEADING TO "ZIMBABWE" THE PROMISE LAND

It will take a long while before we recover from the dollar sharing that charactised last general election. As if that was not enough the current revelation on how some "intelligent" looter stuck dollars in their houses and bank will do more harm than good.

God will help PMB and Nigeria.

Buhari, why?

solid3:
It is sad, as long as we keep importing nonessential products like tomato purry, toothpick, matches and also keep gallivanting around, the Naira will continue to fall.

The supporter of evil and looter will not like to share your ideas. They are use to share the money.

OZAOEKPE:
WE HEADING TO "ZIMBABWE" THE PROMISE LAND

By God it will not get to that point. Is it not Zimbabwe that they count millions of their currency in like 2 or 3 notes?

Yes.
Nigeria has a balance of payment deficit of over $30 billion .
Which means that over $30 billion is needed for feed the importation habits of Nigerians.
Not a bad thing if Nigeria takes advantage and start exporting stuff
until your appetite for foreign goods is reduced , the naira will continue depreciating
Imports become more expensive as the Naira

SW betrayed Nigeria even with their so-called sophistication

t

amaechi1:
It will take a long while before we recover from the dollar sharing that charactised last general election. As if that was not enough the current revelation on how some "intelligent" looter stuck dollars in their houses and bank will do more harm than good.

God will help PMB and Nigeria.

I guess you skipped classes during economics 101.

Russia, Brazil, Mexico, Venezuela, Ghana, South Africa, Australia and even Canada ,etc are all resource dependent economies that have also witnessed steep weaknesses in their respective currencies.

What makes ours a lot worse is that our economy is 70-80% oil and gas dependent, with no industrial or technology sectors.

So, no matter who is in charge right now, we are seeing N450-N500 to the dollar this year.
No hail Marys.

It's obvious already. They want our items patronised but immediately border is closed our locally made items price rocket shoots up just because demand don dey high pass supply. That alone is hurting the citizen. We d citizen r hurting ourself. Just on sachet water, N10 was added by the manufacturers but the retailers added 50percent. Since fuel price became better, a lot of bike people refuse to adjust thier fare and still remain on what it use to be at N120 per liter.

Can't our economist do something about it?

oduastates:
Yes.
Nigeria has a balance of payment deficit of over $30 billion .
Which means that over $30 billion is needed for feed the importation habits of Nigerians.
Not a bad thing if Nigeria takes advantage and start exporting stuff
until your appetite for foreign goods is reduced , the naira will continue depreciating
Imports become more expensive as the Naira

you are joker, the current trend will makes everything worst. you talked about importation, can you tell me where the mobile phone you used was manufactured? we cant produce all our needs but we can only place ban on importation of items like tomatoe paste, toothpicks, clothes, wines, etc. theres inflation already & you may need to go to the market to knw the current price of essential needs

I 've got dollars for sale! Any links?.the issue here is bann a lot of senseless imports and encourage local exports. Why should we get new cars worth billions for our public office holders where we have INNOSON vehicles here?. God save the Land. Please who wants to buy dollars?

godoluwa:
you are joker, the current trend will makes everything worst. you talked about importation, can you tell me where the mobile phone you used was manufactured? we cant produce all our needs but we can only place ban on importation of items like tomatoe paste, toothpicks, clothes, wines, etc. theres inflation already & you may need to go to the market to knw the current price of essential needs

Zip it until you get a clue .
My phone was not bought with Nigerian money or income made in Nigeria.
I wrote about this situation happening last year when you lot were making transformation agenda noises.
And they told you that is the cause of your problem?
Grab yourself a bottle of beer ,take a chill pill and grab a book.
Oh I forgot, you also import the sorghum used to make the beer.

All that iz needed is for the naira to be devalued from 197 to 230 and all these mess will end yet buhari refuses to do the right thing. The naira is doomed in Buharis hand!

rinzylee:
I 've got dollars for sale! Any links?.the issue here is bann a lot of senseless imports and encourage local exports. Why should we get new cars worth billions for our public office holders where we have INNOSON vehicles here?. God save the Land. Please who wants to buy dollars?

I want to buy! @ what rate r u selling??

Lildav:



I want to buy! @ what rate r u selling??

330naira

OZAOEKPE:
WE HEADING TO "ZIMBABWE" THE PROMISE LAND

without a question