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In Dramatic Reversal , Naira Falls To N235/$1 Again - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / In Dramatic Reversal , Naira Falls To N235/$1 Again (30470 Views)

Unbelievable!!! Naira Falls To N485/$1, N600/£1 / Naira Falls To N370 Per Dollar / Naira Falls To 325 On Dollar Shortage -punch (2) (3) (4)

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Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by ShutdownBrown24(m): 8:19am On Aug 05, 2015
Abeg make the thing rise so that my Google AdSense money will be much... I pray to even rise to. 500 Naira to 1 dollar
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by neocortex: 8:19am On Aug 05, 2015
When barcanista gave a sound analysis of the foreign exchange problems, APC zombies
attacked him like vultures not knowing that as reality is different from make believe so
is real change different from cosmetic one.

Sai Buhari is working undecided

9 Likes 1 Share

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by Detayo7(m): 8:19am On Aug 05, 2015
likata:
barcanista is an asset to this country.Respect man
....lol, this doesnt look like respect, it looks more like a corporate Almajiri
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by Nobody: 8:20am On Aug 05, 2015
arsetalks:
Some saying Barcanista must be a prophet, prophet of what? Prophet of doom? If you know use your brains you will know the sudden decline and appreciation are all artificial. It is created the mallams for their own gain.

Curiously Barcanista and co have refused to debate why the naira fell from 154 at the beginning of the last quarter of 2014 to 200+ the retardeen left it.

even a baby knows that was because of the fall in the price of crude oil.

7 Likes

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by iykedare(m): 8:21am On Aug 05, 2015
[s]
soe:


Hello...can we please be reasonable here.

The United States is not running a stagnant economy...their currency value would definitely rise and fall at some points...the influence of a capitalist economy cannot be over-ruled.

On the other hand, what we are doing is to have a nation that is less dependent on the US economy, Mynd44 had asked a very salient question yesterday for which no one could answer.

he asked, Why did the Naira fall so badly from 160 to 200 in 2014/2015 ? If you can answer that, then we can reason with your cock and bull theory

The answer is so simple. A number of factors contribute to the rise or fall of a country's currency; We have the stock market/foreign investments, tourism and international trade. But basically, and speaking in lay man terms, if you have more people replacing their currencies with your currency, then your currency will rise in value. If you have more people dealing in your currency than their currency, then your value will rise. Sadly as the reverse implies, if you have more people dumping your own currency for the other currency, your value will nose dive.

If you look at the above relation, you will notice that it all falls back to a demand/supply chain rule, but not explicitly.

The only back door approach to a rise/fall currency value is the so called "de-valuation or denomination" of the currency which has to do with the Central Bank physically reducing the supply of your own currency so as to make it seem as though it is scarce again.

So what do you think happened in 2014/2015, Corrupt polithiefians knew it was the season of campaign and stealing and stashing and looting. It was the season to keep monies at home. They all withdrew in USDollars and replaced our Naira with Dollars. So, the dollar became increasingly more sought in our local market, almost competing with the Naira. Hence the crash of the Naira in the local (black) market.

What CBN is doing now, as part of the change program, is to force the polithiefians to return to the need and use of Naira and dispose their ill gotten USDollars stashed in their personal and underground vaults. The moment USDollars is not acceptable to our local banks. That will reverse the 2014/2015 trend and restore the Naira value to 160.

But as I said...the US Govt. has an economy to run also, and until we successfully reduce the dependency of our economy on theirs, our Naira value will also rise and fall intermittently....the good news however is that the USDollars is no longer competing with the NAIRA in our loal market...we are shifting the battle back to the International FOREX MARKET
[/s]

Crap. Now go read what barcanista wrote then modify this.

2 Likes 1 Share

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by gagaprince(m): 8:21am On Aug 05, 2015
Naira was 199 to $1 yesterday, go get your fact before publishing fake news from a fake source shocked
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by Firefire(m): 8:22am On Aug 05, 2015
Obiagelli:
This only proves that the fall of the naira is artificial based on speculations, the naira will find its true value soon.

Longest time sister. tongue

How are you ?
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by INTROVERT(f): 8:24am On Aug 05, 2015
dougivilla:
That is what the ''try your luck'' aka ''Baba Ijebu'' or ''Lotto'' Economics of PMB is bequeathing to Nigerians.


Am am yet to see your argument that counters what he has said....I don't think you are an economist.
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by Firefire(m): 8:24am On Aug 05, 2015
iykedare:
[s][/s]

Crap. Now go read what barcanista wrote then modify this.

I don't take those guys serious again.
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by johnstar(m): 8:25am On Aug 05, 2015
Na wao


Evrytn juz dey worst


God help us ooo

1 Like

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by Nobody: 8:25am On Aug 05, 2015
Firefire:

Longest time sister. tongue
How are you ?
I am fine and you?

1 Like

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by eckersley: 8:26am On Aug 05, 2015
INTROVERT:
Barcanista must be a prophet. grin grin grin
I pray naira comes back to 160 170 sha coz my business is being affected.
I thought your only biz was FTC?
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by Firefire(m): 8:28am On Aug 05, 2015
Obiagelli:

I am fine and you?

Very well also, thank you.

Have a wonderful day.
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by chukkiephil(m): 8:31am On Aug 05, 2015
Honestly I don't understand what the hullabaloo is about?? This is not rocket science as far as we as a country still depend on importing majority of the things we use and not produce, how will Naira gain value? Instead it continue to fall, the only solution is to encourage LOCAL PRODUCTION!!

1 Like

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by Codedbash(m): 8:31am On Aug 05, 2015
Tbillz:
Change is constant!



lol asset indeed... valued in his historical value
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by godoluwa(m): 8:31am On Aug 05, 2015
RichDad1:

He's just a prophet of doom that will be shamed very soon.
4 ur mind ryt?
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by jwils(m): 8:32am On Aug 05, 2015
Barcanista has seen this one coming... .. .. .. this guy get sense pass some APC legislators undecided

9 Likes 2 Shares

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by Mynd44: 8:32am On Aug 05, 2015
soe:


Hello...can we please be reasonable here.

The United States is not running a stagnant economy...their currency value would definitely rise and fall at some points...the influence of a capitalist economy cannot be over-ruled.

On the other hand, what we are doing is to have a nation that is less dependent on the US economy, Mynd44 had asked a very salient question yesterday for which no one could answer.

he asked, Why did the Naira fall so badly from 160 to 200 in 2014/2015 ? If you can answer that, then we can reason with your cock and bull theory

The answer is so simple. A number of factors contribute to the rise or fall of a country's currency; We have the stock market/foreign investments, tourism and international trade. But basically, and speaking in lay man terms, if you have more people replacing their currencies with your currency, then your currency will rise in value. If you have more people dealing in your currency than their currency, then your value will rise. Sadly as the reverse implies, if you have more people dumping your own currency for the other currency, your value will nose dive.

If you look at the above relation, you will notice that it all falls back to a demand/supply chain rule, but not explicitly.

The only back door approach to a rise/fall currency value is the so called "de-valuation or denomination" of the currency which has to do with the Central Bank physically reducing the supply of your own currency so as to make it seem as though it is scarce again.

So what do you think happened in 2014/2015, Corrupt polithiefians knew it was the season of campaign and stealing and stashing and looting. It was the season to keep monies at home. They all withdrew in USDollars and replaced our Naira with Dollars. So, the dollar became increasingly more sought in our local market, almost competing with the Naira. Hence the crash of the Naira in the local (black) market.

What CBN is doing now, as part of the change program, is to force the polithiefians to return to the need and use of Naira and dispose their ill gotten USDollars stashed in their personal and underground vaults. The moment USDollars is not acceptable to our local banks. That will reverse the 2014/2015 trend and restore the Naira value to 160.

But as I said...the US Govt. has an economy to run also, and until we successfully reduce the dependency of our economy on theirs, our Naira value will also rise and fall intermittently....the good news however is that the USDollars is no longer competing with the NAIRA in our loal market...we are shifting the battle back to the International FOREX MARKET
You have time oooo. The same article says

In a most dramatic reversal in fortune, the naira fell N235 to US$1 in the parallel market on Tuesday evening, despite appreciating to N209 barely 24 hours earlier.

And

“The naira had reached a record low of N260 to a dollar. But since banks started rejecting cash deposits of foreign currencies, BDCs are now flooded with foreign currencies,” he said. “Right now the naira is selling at N210 to a dollar. In fact we buy at N200 and sell at that amount. So business is good.”

And I am supposed to take it seriously

2 Likes

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by RichDad1(m): 8:32am On Aug 05, 2015
godoluwa:
4 ur mind ryt?
Nope in reality.
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by godoluwa(m): 8:32am On Aug 05, 2015
neocortex:
When barcanista gave a sound analysis of the foreign exchange problems, APC zombies
attacked him like vultures not knowing that as reality is different from make believe so
is real change different from cosmetic one.

Sai Buhari is working undecided
never be surprised, APC zombies r monkey & baboons

2 Likes

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by Remii(m): 8:34am On Aug 05, 2015
SeverusSnape:
Buhari is a curse.

Barcanista is a good prognosticator . No wonder they (the zombies) hate him with passion. He's their main nightmare grin

BARCANISTA you're the man.

**waiting for $1=#1**
naira will appreciate when stability returns, Barcanista analysis wont last 3 months. what is happening now would have happened with or without pmb because the trend started last year gej was just managing it. but there is light at end of the tunnel.

1 Like

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by softvio(m): 8:35am On Aug 05, 2015
Barcanista ! ..the guy is so intelligent that he didn't allowed his sentiments or the fear to be against the so called e-apc robots to stop him with his predicted facts

2 Likes 1 Share

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by ocelot2006(m): 8:40am On Aug 05, 2015
RichDad1:
PDP and their winchi winchi. angry angry angry angry
Those lots don't want the best for this country.I weep for my country

What has PDP got to do with this? Are they the ones currently in charge of the economy? Even at the centre, you APC m@sturbators are still wailing. Kpele.

5 Likes 2 Shares

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by Pidggin(f): 8:40am On Aug 05, 2015
"1dollar=1naira" is not a statement that can be actualized by govt. policy alone. Pmb should have thought of this before making promises.
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by tivta(m): 8:44am On Aug 05, 2015
RichDad1:
PDP and their winchi winchi. angry angry angry angry
Those lots don't want the best for this country.I weep for my country
Always looking for whom to blame.

1 Like

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by ifeoluwasegun(m): 8:44am On Aug 05, 2015
I hear!
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by bidex(m): 8:45am On Aug 05, 2015
SenseiX:



https://www.thecable.ng/dramatic-reversal-naira-falls-n2351

I wonder why Nigerians keep telling us lies! just checked the exchange rate now here is what i got! I checked yesterday, it was 201, now its 197. why are we keep deceiving ourselves? why do we hype things? why are we keen on creating fear into ppl's mind? instead of us to allay our fears

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by jaybee3(m): 8:45am On Aug 05, 2015
Firefire:
APC robotic supporters are the most useless elements on the planet earth.

You rush to glorify a short term measure without considering the long term effect.

At this juncture, I declare all myopic supporters of "BUBU" brainless.

Well done Barcanista, over to children of hate and anger!

The official rate is still N197 to the dollar so why are you wailing?

What doom has the volatility in parallel market rates done to the economy in real terms?
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by jaybee3(m): 8:48am On Aug 05, 2015
Pidggin:
"1dollar=1naira" is not a statement that can be actualized by govt. policy alone. Pmb should have thought of this before making promises.

When exactly did he make the promise

Provide a direct quote of him making that statement and receive N100K from moi
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by najoke: 8:49am On Aug 05, 2015
[s]
INTROVERT:
Barcanista must be a prophet. grin grin grin grin grin grin grin

I pray tomorrow we will wake up and it's 170 again
[/s]

Pls shut it.....did you read the article at all or just the title of the thread.

“The naira had reached a record low of N260 to a dollar. But since banks started rejecting cash deposits of foreign currencies, BDCs are now flooded with foreign currencies,” he said. “Right now the naira is selling at N210 to a dollar. In fact we buy at N200 and sell at that amount. So business is good.” Garba Mohammed, another BDC operator, said the gap between the price of dollar at the interbank and parallel bank might be bridged if banks continued to reject forex

Can someone pls tell me how barcanista is right again

2 Likes

Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by najoke: 8:50am On Aug 05, 2015
jaybee3:


When exactly did he make the promise

Provide a direct quote of him making that statement and receive N100K from moi

500k if any of the wailers can provide evidence of PMB making such statement
Re: In Dramatic Reversal , Naira Falls To N235/$1 Again by dougivilla(m): 8:52am On Aug 05, 2015
INTROVERT:



Am am yet to see your argument that counters what he has said....I don't think you are an economist.
What who said? Has PMB said anything on the economic direction of the Nation? I don't think so.

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