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Nairaland Forum / Nairaland / General / Business / Naira Tumbles To 391/dollar (29975 Views)
Naira Tumbles To 503 On Parallel Market / Naira Tumbles To 490 As Dollar Shortage Continues / Naira Tumbles To 360 As Dollar Supply Dries Up (2) (3) (4)
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Re: Naira Tumbles To 391/dollar by stephnie1(f): 6:42am On Feb 19, 2016 |
ok |
Re: Naira Tumbles To 391/dollar by Pesuzok(m): 6:42am On Feb 19, 2016 |
Out of all these comments, no solution is suggested. All the graduates here think that economic team means magicians. The country is not earning enough for example to sell to everyone, it's simple. It either you buy at 400 to $1 or you look inwards. 1 Like |
Re: Naira Tumbles To 391/dollar by BIAFRANFLAG(m): 6:44am On Feb 19, 2016 |
jerryunit48:Hope YOU know the meaning of currency devaluation? |
Re: Naira Tumbles To 391/dollar by Jumpovame: 6:44am On Feb 19, 2016 |
The fulfilment of the change promise of N1(000) to $1 is in sight.We never bothered to ask "what type of change do we expect"? 1 Like |
Re: Naira Tumbles To 391/dollar by steve13(m): 6:48am On Feb 19, 2016 |
oyinkinola:Why are you writing all this crap,you don't know price of commodities go up as Dollar climb?? In Zimbabwe you need 18 million to buy a flight ticket, is that what you want ??don't come here with Mugabe brain Biko |
Re: Naira Tumbles To 391/dollar by poseidon12: 6:50am On Feb 19, 2016 |
saxywale: Did you say "may"? We already have serious inflation on our hands. |
Re: Naira Tumbles To 391/dollar by ibietela2(m): 6:51am On Feb 19, 2016 |
[s] oyinkinola:[/s] What did you smoke man? |
Re: Naira Tumbles To 391/dollar by SoNature(m): 6:57am On Feb 19, 2016 |
I expected civil society groups and the organised labour to be more active in democracy. Honestly, I don't understand why we still have 2 Houses: Senate and House of Rep. If we scrap one of the Houses we will save the country a lot of money. A rich country like Nigeria should not be borrowing to fund her budget and pay salaries. We need to reform this country now by reducing office holders aides, advisers, scrap either senate or HoR, ban importation of goods that be manufactured locally, etc. These are tough times and we need make tough decisions to save this country from imminent collapse 2 Likes 2 Shares |
Re: Naira Tumbles To 391/dollar by Mamog(m): 6:59am On Feb 19, 2016 |
oyinkinola: I swear your mumurism no get class.. just gerrarahere |
Re: Naira Tumbles To 391/dollar by raymondzack: 7:00am On Feb 19, 2016 |
Brilliance9000:198 not 210 |
Re: Naira Tumbles To 391/dollar by Nobody: 7:01am On Feb 19, 2016 |
Buhari says, if Jonathan had won the elections, the dollar would have hit N1000/$1. It is currently at almost N400/$1, a sharp drop from N180/$1 when Jonathan left office nine months I have never ever heard a more convoluted balderdash in my life of what a nonsense this useless old man called Buhari can gutter out of his mouth. Rather than tweak his hay headed economic policies, Buhari finds refuge behind his familiar whipping boy: Jonathan even nearly one yr in power. Many Buhari supporters and Southwest Zombies talk flippantly about the rot and corruption that Buhari inherited from Jonathan, as reason for the deepening gloom that Nigeria is convulsing into. Indeed there was sleaze as is the wont in Nigeria for decades before and during Jonathan and including in this administration. But we must ask: What is the depth of the rot Buhari met? Anybody with clear facts? Did industries close shops? Did banks close shops? Were schools, hospitals and power supply shut down? Was infrastructure, roads, rail, airports etc destroyed? Was there a major war? If it is corruption, exactly how much was stolen and how many people have been convicted or even taken to trial in almost a year? Was the Naira not N180/$1? Buhari should stop hiding his incompetence behind Jonathan and unproven allegations. He should roll up his sleeves and get down to work. Enjoying the pomp, pageantry and paraphernalia of office is not same as getting things done. 6 Likes |
Re: Naira Tumbles To 391/dollar by oladeledave: 7:04am On Feb 19, 2016 |
so how much do we now exchange dollars 350? |
Re: Naira Tumbles To 391/dollar by osile2012: 7:07am On Feb 19, 2016 |
orobs93: [size=18pt]The day we read Naira Collapse, then its over. .[/size] |
Re: Naira Tumbles To 391/dollar by ifyan(m): 7:10am On Feb 19, 2016 |
No economic plan, direction, policies, strategy, blueprint etc. Nigeria really need to do something about. PMB is not really fit to rule this country. Believe me PMB is very corrupt 1 Like |
Re: Naira Tumbles To 391/dollar by banmee(m): 7:11am On Feb 19, 2016 |
praxisnetworks: Those are just big words. All a country needs is it's finance minister and CBN governor or in the case of the U.S, The Federal Reserve Chairman. Fred Berananke helped the U.S get out the worst recession they'd ever seen. If anyone is not cutting it then you fire them. We just like doing things in a weird way in Nigeria. Committees, councils, "economic teams", probes, etc Recessions are not new. America has had more than a score since the country came into existence. The only problem with Nigerians, based on history, is that they do not know how to handle issues. 1 Like |
Re: Naira Tumbles To 391/dollar by tunde300us(m): 7:11am On Feb 19, 2016 |
So if GEJ returns today the dollar in the aboki market will return to 100 i guess, its obvious this thread was created to play politics or just ignorant of the simple politics of currency. U dont earn enuf dollars nd yet ur ppl keep asking for it,what do u do as a govt ? U simply find a way to substitute what ever they need the dollar for to reduce the pressure or force them to simply look for it elsewhere. If oil returns to say 60dollars today suddenly the pressure stops,it is not an economic magic of anyone but a simple demand nd supply syndrome 5 Likes |
Re: Naira Tumbles To 391/dollar by tafrica(m): 7:11am On Feb 19, 2016 |
Pesuzok: Abeg, don't put blame on people. Aren't there people already paid to pilot the leadership and our economy? They have to justify their pay. People have right to moan and complain as the things go. 1 Like |
Re: Naira Tumbles To 391/dollar by ifyan(m): 7:14am On Feb 19, 2016 |
macfarland: The man is not fit for this country. Have you noticed the silence of his supporters and his miniters over this issue. Believe me this man is very corrupt. |
Re: Naira Tumbles To 391/dollar by Mamog(m): 7:15am On Feb 19, 2016 |
banmee: You are not making any sense my friend.. show m any plan by this government to manage the economy.. they came into government and the first thing they did was to share the balance LNG fund and u guys clapped for them as if GEJ hid the money somewhere.. they have been depleting the foreign reserve without making any plan to put something there.. They are picking fight every where.. which money will they use in prosecuting all the wars they want to fight.. they are seeking court order to seize Tompolo's assets forgetting that the Niger Delta Militants don't need court orders to commence blowing up oil facilities... the earlier we realise that PMB is a big mistake and begin to look for a solution the better for this country. Very soon bread will be N1,000. If u think it's not possible go and ask Zimbabwe 2 Likes |
Re: Naira Tumbles To 391/dollar by Funjosh(m): 7:20am On Feb 19, 2016 |
I still don't understand |
Re: Naira Tumbles To 391/dollar by permanentgrace(m): 7:22am On Feb 19, 2016 |
Cul4real: Apart from the CBN GOVERNOR, his brain is as useless as that of Buhari and his ministers. |
Re: Naira Tumbles To 391/dollar by Nobody: 7:24am On Feb 19, 2016 |
Brilliance9000:This guy, you sound really really pained oh.. Shuoo, no commit suicide abeg. Back to the topic, its exactly because of the falling oil prices (e.g russia, venezuela, gambia etc) and of course the demonic and catastrophic campaign led by the most foolish and idiotic leader ever known to man. Thunder fire any idiot that chooses to put the blame on the present government, after the national treasury had been looted dry |
Re: Naira Tumbles To 391/dollar by sold(m): 7:24am On Feb 19, 2016 |
I'm sure if we're to ask so many people here what they think is happening to our Naira, I'm sure they can't explain, even some so called graduate of economics and business management can't explain. Nigeria my country when all we know is to keep consuming imported goods, and now that our major source of (Dollar) income have reduced (crude oil) drastically, and we still expect CBN to keep releasing dollar to the public, hmm CBN better hold the dollar for now o...! Because what will happen when CBN keep releasing dollar to the black marketers is that, our foreign RESERVE will keep depreciating (before you know our account go empty especially now wey crude oil no get much value for world market, and na there we dey get most of this dollar from) In conclusion, we better start consuming made in Nigeria products and Exporting thereby bringing in more dollars to the country. Well if you're an entrepreneur here in Nigeria better days ahead for you. Because very soon government will stop the importation of so many things into the country. Which is good for us, suffer go dey small but it's the best for Us. Let's be more of producers than consumers. 1 Like |
Re: Naira Tumbles To 391/dollar by ishiamu(m): 7:25am On Feb 19, 2016 |
Validated: They don't even exchange for that amount, they exchange for 190, big rip off |
Re: Naira Tumbles To 391/dollar by Bayejuyo(m): 7:27am On Feb 19, 2016 |
<iframe frameborder="0" width="220" height="140" src="https://www.mql5.com/en/signals/widget/signal/203q"></iframe> |
Re: Naira Tumbles To 391/dollar by dallyemmy: 7:28am On Feb 19, 2016 |
I THINK GOVERNMENT SHOULD MAKE THAT PARALLEL MARKET ILLEGAL AND SETUP A LESS VOLATILE AND REGULATED ALTERNATIVE. IF NOT, I DO NOT SEE THIS FALL OF THE NAIRA STOPPING NOW. SOME PEOPLE ARE BENEFITING FROM THIS MISCHIEF! 1 Like |
Re: Naira Tumbles To 391/dollar by banmee(m): 7:28am On Feb 19, 2016 |
Mamog: I have just told you to take the country's history into consideration before making comments like this. The problem the country is facing has been festering since the day oil was discovered. I will share the secret of why countries like Germany, Britain, America etc are so great. For some reason, the concept seems to escape Nigerians and it's baffling. These countries are great because they understand that their greatest resource is their HUMAN resource and their knowledge or how taxation works. There's so much you can do with it. With your human resource you don't need oil. This is why these countries are not crying over the fall of prices and were not crying when the price was high as hell. Nigerians are not exposed or knowledgeable in matters that affect their lives. but if P square is involved, all of a sudden they pay attention. 3 Likes 1 Share |
Re: Naira Tumbles To 391/dollar by cckris: 7:30am On Feb 19, 2016 |
TECHNICALLY, $1 = 1Naira |
Re: Naira Tumbles To 391/dollar by gowaga68: 7:32am On Feb 19, 2016 |
Bishops10:Bring him! |
Re: Naira Tumbles To 391/dollar by dahmie2013: 7:33am On Feb 19, 2016 |
Now, big companies will have no choice but 2 depend on our local manufacturers 4 deir raw materials. In dis case, dere will be excess demand over supply, so our local firms will have 2 improve deir capacity. Banks will be forced 2 give dem loans 4 d expansion, except dey want d big ones 2 be out of business. Also its cheaper 4 an international investor 2 invest in Nigeria now, cos in d next 2-3yrs I don't think it will be @ dis rate. Meaning u require little amt of dollars 2 get so much futuristic returns on investment. Considering d poppulatn & d lifestyle of nigerians. I remember d capital mkt crash, d wiser ones bought shares dat time, u can now see how much dose shares are worth now. Dey,ve made good returns on deir investment which required little cash, cos it was cheap. 1 Like |
Re: Naira Tumbles To 391/dollar by oladeledave: 7:33am On Feb 19, 2016 |
Its a pity how many ignorant people has put us at the mercy of this ignorant, clueless and inexperienced government. now the economy is crumbling and no hope for tomorrow. we might hear tomorrow that $$ has risen to #1000, I dont even know where they want us to go. Such a clueless government. |
Re: Naira Tumbles To 391/dollar by Lanretoye(m): 7:34am On Feb 19, 2016 |
Dollar just growing like pikin wey dey chop balance diet. |
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