LAGOS—The fortunes of the national currency, the Naira took a sharp turn downwards yesterday as it fell by 270 kobo, with the parallel market exchange rate rising to N180 per dollar from N177.3 on Monday.

Since the beginning of the month, the Naira has fallen against the US dollar by N7.9 at the interbank market, and N10 at the parallel market.

Interbank and parallel market operators attributed this sharp depreciation to restrictions introduced by the CBN to curb foreign exchange demand at the official market. Falling crude oil prices, coupled with depleting Excess Crude Account has triggered palpable anxiety about the value of the Naira. Stocks have also been hit as a result.



http://www.vanguardngr.com/2014/11/naira-free-fall-dollar/#sthash.f8agOUwD.dpuf

Good, let it rest at 200

Ahhh this is bad o, GEJ is just there watching

Clap for the naira....

Wonderlands:
Ahhh this is bad o, GEJ is just there watching

what do u suggest he does?

odimbannamdi:

what do u suggest he does?

Invest in agriculture, encourage. SMEs. Export more, import less. Raise import taxes. Tax Dangote and co heavily..

Am coming..

Interesting...

The value of a nations currency is the reflection of the well being of the nation. Ofcos Nigeria is sick, but unfortunately, the government keeps administering fake/substandard drugs to her. The doctor(s) in charge of the nations economic health is apparently a quack.

Kirinwa:


Invest in agriculture,

Good step.

encourage SMEs.

Correct

Export more, import less.

Perfect

Raise import taxes.

Good

Tax Dangote and co heavily..

Wrong move, if a nation tax investors heavily, it is by extension discouraging investments in the nation, and discouraging investment in a nation implies weakening export potentials diaby opening more does for importation.

Any wrong application of monetary and fiscal policies can weaken a currency. To this, CBN needs to encourage and enforce low to moderate interest rates while the executive branch of the government (state and federal) needs to lower taxes that will attract resources and investors.

Am coming..

we waiting...