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Nairaland Forum / Nairaland / General / Business / Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens (46265 Views)
Naira Depreciates To N1,305/$ In Parallel Market / Naira Depreciates To ₦1,300/$ In Official Market / Naira Depreciates To 410/$ At Official Market (2) (3) (4)
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Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by Agboriotejoye(m): 9:05am On Mar 28, 2020 |
4Play:Someone with common sense. Blaming a GEJ, shagari or coronavirus for a malady that keeps repeating under your watch is called abdication of responsibility just as we're experiencing with dis coronavirus now. 1 Like |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by OTayobami(m): 9:09am On Mar 28, 2020 |
kikero: Oga haba now! You know how wealth distribution in Nigeria is and you're talking about total removal of subsidies from fuel, the simple thing is that, in saner country(countries with humans being as leaders and not animals) the reserves from the economy boom in 1970 would have been used to cushion these recent recession et' al 1 Like |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by azpekuliar: 9:13am On Mar 28, 2020 |
Asquare84: My train of thought too. What is driving this demand if not panic buying? 1 Like |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by PHijo(m): 9:14am On Mar 28, 2020 |
Japhet31: The bold area is not a true reflection of the situation. There are three reasons why their 'stimulus' won't function. 1. It is not large enough 2. They are not serious about it, it is just a window dressing exercise. 3. The stimulus doesn't get to those who need it the most. |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by Nobody: 9:14am On Mar 28, 2020 |
[quote author=PHijo post=87840038] Buhari caused the severity of this recession! Inadvertently he caused this recession. The actions that would have averted or minimized the impact of the recession were not taken. 1. If Buhari knew how dire the situation was he should not have been wasting resources, searching for oil in the North East. 2. Buhari's push for multiple exchange rates further compounded Nigeria's woes. 3. NOI warned on how dire the situation was in 2015, yet somebody in that situation decided to select his cabinet in 6 months! What is more annoying is that despite taking too long, he ended up having career politicians as ministers. 4. As you pointed out, he refused to remove subsidy even when he had the opportunity in 2015/2016. The list is endless! Anyone who had the political capital Buhari had in 2015 could have reformed the country in a very significant manner. The buck stops at his desk. *** *** The politician ministers,atracted my mind here! |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by qanda: 9:17am On Mar 28, 2020 |
Choi |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by jidxin(m): 9:20am On Mar 28, 2020 |
engrsyer:simple thing u dont understand. Its parallel market. Its bureau de change. It wont affect the economy. because d world market is unstable CBN no longer gives them dollars |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by Fragility6: 9:22am On Mar 28, 2020 |
Seetto:Na pdp mk us enta recession twice?They stole 4 15yrs not even once did d country enta recession. Na pdp mk oil prices useless? Pdp na OPEC. All diz Buhari followers una eye go clear very soon. Judgement day don near 5 Likes 1 Share |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by Jeferious: 9:25am On Mar 28, 2020 |
vickydevoka:Guy you sabi die 1 Like |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by Brunicekid(m): 9:25am On Mar 28, 2020 |
GamalNasser:God help Nigeria in Jesus Mighty Name. 1 Like |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by 6digitscomrade: 9:28am On Mar 28, 2020 |
kikero:more like taking your car from Allans repair shop because he couldn’t fix it and moving to moshoods shop he will spend all ur resources blaming Allan for the next 8yrs .. it’s practical and common sense..or we can even use mobile phone repairers.. it doesn’t just make any sense to tolerate mediocrity.. 2 Likes 1 Share |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by dallyemmy: 9:29am On Mar 28, 2020 |
WHO DEY BUY DOLLAR SEF! ALL NA SPECULATIONS . NOBODY WAN FLY NOW! NOBODY WAN GO CHINA GO IMPORT GOODS. GOVERNMENT MUST ARREST THOSE WHO ARE DESTROYING THE VALUE OF OUR CURRENCY IT IS CRIMINAL! EFCC MUST GO OUT AT ONCE AND ARREST THOSE CRIMINALS! |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by MrToothBrush: 9:30am On Mar 28, 2020 |
topsquino:at this point I have learnt not to doubt anything. I wish to be a part of this please. Things are hard. Really hard at the moment Thanks in advance. |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by apache22b: 9:35am On Mar 28, 2020 |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by TinyHacker: 9:47am On Mar 28, 2020 |
these people are printing money for themselves like crazy |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by DexterousOne(m): 10:04am On Mar 28, 2020 |
etrouble: On please keep shut Grown up with no sense The goat in Aso Rock is to blame for every thing at this point If we have kept the ECA from emptying due to his recklessness Maybe we would have had some extra buffer against the headwinds coming But you are attributing one calling out the failure of the kunu sipping drunkard to hate and bitterness Yeye 2 Likes |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by engrsyer(m): 10:05am On Mar 28, 2020 |
jidxin:look at this indomie baby that parents are still breast feeding is spewing this trash. Small go and hustle and leave your parents/guardian alone and face reality |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by PHijo(m): 10:12am On Mar 28, 2020 |
OTayobami: There is no way you will have a 'reserve' from the 70s when money is being wasted on things like subsidy. Norway started oil production in 1971. In the early 90s efforts were made to detach oil income from the economy. Today they have a $1triilion SWF. Petroleum products are not subsidized, in fact the tax it well. Norway has one of the highest prices for petroleum products in the world. I hope you know that oil producing communities do not benefit from the subsidy regime in Nigeria. If you see it as a wealth redistribution tool, for the oil producing communities it is an asset appropriation instrument. |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by webizone(m): 10:13am On Mar 28, 2020 |
vickydevoka:As in eh, you got me. But picture it this way, your provision store is a better savings account than your regular savings account in terms of returns. Even provisions sellers can inflate their prices during scarcity. That you can't do with a savings account. But, it shouldn't be your main business that keeps food on your table. No no no. In this day and age, your main business should be online, generating foreign exchange for you. So even, news like this won't make you angry. Infact, you would be happy that you're in Nigeria, which has determined that their currency will keep dropping thereby allowing you to enjoy your life cheaper and cheaper. 3 Likes |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by PHijo(m): 10:18am On Mar 28, 2020 |
Seetto: PDP improved the economy, yes they could have done better. One thing is certain, they can't be worse than Buhari. The stealing and corruption under Buhari's watch is worse than it has ever been under PDP. |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by grandstar(m): 10:30am On Mar 28, 2020 |
tomakint: Nigeria did exit recession in 2017 but has since been bogged down by a weak recovery. The severity of the last recession and the attendant weak recovery are all due to the uneconomic forex policies Buhari introduced. 2 Likes |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by xelly: 10:31am On Mar 28, 2020 |
Naira is the worst corona virus affecting Nigeria 1 Like |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by Nobody: 10:33am On Mar 28, 2020 |
Mizwisdom: Clever lady, those educated idiots don't even understand what's happening. The entire global system is corrupt, which ever way you look at it. The yt man is your greatest cause of poverty. 1 Like |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by webizone(m): 10:39am On Mar 28, 2020 |
GermanMelania:Do yahoo boys count? 1 Like |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by webizone(m): 10:47am On Mar 28, 2020 |
drololaaof:Lol. I laugh at your ignorance. Let me enlighten you. In global foreign exchange turnover, goods and services can be just 1/3. 2/3 is value and investment. As far as currency is being used in any two regions, whether it moves from one region to the other or not, despite wars or plagues or any other crisis or not, people's value perceptions about anything will always change compared to another. 1 Like |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by webizone(m): 10:49am On Mar 28, 2020 |
Ogo1982:Oga if what they have in their possession is not valuable they won't sell it at those prices. Look for your own edge. That's how you beat them. 1 Like |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by webizone(m): 10:54am On Mar 28, 2020 |
Esseite:I laugh in pidgin. |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by webizone(m): 10:56am On Mar 28, 2020 |
fineboynl:Guy, you have no conscience. Choi! 1 Like |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by PHijo(m): 11:06am On Mar 28, 2020 |
1 Like |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by princeade86(m): 11:12am On Mar 28, 2020 |
Mizwisdom: 1 Like |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by webizone(m): 11:17am On Mar 28, 2020 |
kikero: You have finally agreed to him without knowing. If he was a decent leader, he would have studied the problem and used his chance. But did he do it? No! And the history of his name and recession continues. Well, I am neutral to Nigerian politics. I am not for or against. You play your edge and I play mine. |
Re: Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens by Maski87: 11:19am On Mar 28, 2020 |
LabDNA:The US prints dollars, it is their money and the can print as many as they like,so their money can ever fall 1 Like |
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