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Nairaland Forum / Nairaland / General / Business / When Crude Oil Has Gone Up 4%.. Why Is Naira Still Going Down? (1317 Views)
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When Crude Oil Has Gone Up 4%.. Why Is Naira Still Going Down? by fallout87: 9:36am On Feb 16, 2016 |
APC and their zombies claim, it is the crude oil price/value which is the sole reason for the Naira free falling. However why did the Naira drop to N344-346 for each dollar when crude oil had steadily risen 4%? Why? It is because it is not only oil that is affecting the naira's value. This budget of corruption and the uncertainty of Buhari and this APC government is hurting the naira value just as much as the lower oil price. 1 Like |
Re: When Crude Oil Has Gone Up 4%.. Why Is Naira Still Going Down? by Elosky20: 9:40am On Feb 16, 2016 |
fallout87:pls u dont just conclude. the problem is still high dollar demand but less supply 2 Likes |
Re: When Crude Oil Has Gone Up 4%.. Why Is Naira Still Going Down? by Nichobabe(m): 9:50am On Feb 16, 2016 |
Bad CBN policy. Interest rate and TBN rate crash will continue to affect the naira, people rather buy dollar since they can't get any rate on fixed deposit or TB. Round tripping will continue and people are making money. Even banks are the major culprits Let CBN kotinu |
Re: When Crude Oil Has Gone Up 4%.. Why Is Naira Still Going Down? by Femich18(m): 9:51am On Feb 16, 2016 |
Elosky20: Thank U. Uve said it all. And the only way that can be solve is supporting the local manufacturers. Atleast reducing importation. We shouldnt import everything including toothpick |
Re: When Crude Oil Has Gone Up 4%.. Why Is Naira Still Going Down? by koboko69: 9:56am On Feb 16, 2016 |
Is there any point educating clowns like this. No matter how much education you give them... They will keep spinning and spinning around........ OP, oil price rose by 4℅ naira is to rise too immediately ![]() Well done...! 3 Likes |
Re: When Crude Oil Has Gone Up 4%.. Why Is Naira Still Going Down? by jaybee3(m): 10:11am On Feb 16, 2016 |
Oil price is still on a downward trend when viewed as period snapshot or quarterly comparable. It's beyond stoopid to view an outlier as a true direction of events. The key reasons for the downward pressures still persist and ain't going away anytime soon so dust your textbook and educate yourself more before making unguarded and retarded comparative analysis |
Re: When Crude Oil Has Gone Up 4%.. Why Is Naira Still Going Down? by babadee1(m): 10:12am On Feb 16, 2016 |
fallout87: Even if someone explains it to you, you probably still won't understand. This may be beyond your level of intelligence. |
Re: When Crude Oil Has Gone Up 4%.. Why Is Naira Still Going Down? by KnowAll(m): 10:22am On Feb 16, 2016 |
@poster [size=18pt]The Questions you should be asking was, how come the value of the Naira did not fall to say 100 Naira to the dollar when oil price was selling for $114 per barrel during Jonathan's regime? ![]() ![]() ![]() ![]() 1 Like |
Re: When Crude Oil Has Gone Up 4%.. Why Is Naira Still Going Down? by Iroh88(m): 10:26am On Feb 16, 2016 |
koboko69:It is a pity quite honestly. I just don't understand how these guys reason. |
Re: When Crude Oil Has Gone Up 4%.. Why Is Naira Still Going Down? by godoluwa(m): 11:11am On Feb 16, 2016 |
The major problem is the law of demand & supply. CBN & commercial banks understand it but they are not ready to do the needful because they makes huge profit from this mess |
Re: When Crude Oil Has Gone Up 4%.. Why Is Naira Still Going Down? by fallout87: 12:34pm On Feb 16, 2016 |
koboko69: Olodo, is that what I said? Instead of answet the question you empty brain zombies avoud the fact that it is also the fiscal policy if Buhari which the CBN is employing which is affecting the naira as well. |
Re: When Crude Oil Has Gone Up 4%.. Why Is Naira Still Going Down? by fallout87: 12:37pm On Feb 16, 2016 |
babadee1: You dont even have the brain to understand what I am saying village boy. No defense of the fiscal policy, which is what I am addressing as one of the reasons the naira is even weaker than it should be. |
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