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Naira In Free Fall, Slides To 280 Against Dollar - PUNCH - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira In Free Fall, Slides To 280 Against Dollar - PUNCH (21617 Views)

Naira Slides To 405/$ Amid Tight Dollar Supply / Dollar Free Fall Continues, Sells At N425/dollar / Naira Slides To N492 At Parallel Market (2) (3) (4)

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Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by Memyselfu2009(m): 9:29am On Dec 18, 2015
WE ARE DOOM wetin dey pain me be say even if naira fall to 1000 naira to a Dollar our Senators still have a lot money to send there children so them no care.
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by godoluwa(m): 9:30am On Dec 18, 2015
adioolayi:
Well..this issue of falling of Naira to Dollar keep me wondering the direct impact of this on me personally. ...You can call me names, but the truth is I DONT DO TRANSACTIONS IN DOLLAR....Yes, it's affecting Nigeria's economy..so says the economists...the truth is price of common commodities is almost the same as dey were 2-3years back!
Na those who trade forex ..schooling abroad, having business deals abroad will feel this...There is huge inequality between the rich and the poor in this country.... The Rich are Seriously Crying now. I tell you, this development no concern common man on the street!
bro, I be mini importer & its affecting my biz

2 Likes 1 Share

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by luvinhubby(m): 9:32am On Dec 18, 2015
*In Mugabe's voice' ..Zimbabwe things smelling in Nigeria.
cheesy

1 Like

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by criminalmindz: 9:33am On Dec 18, 2015
adioolayi:
Well..this issue of falling of Naira to Dollar keep me wondering the direct impact of this on me personally. ...You can call me names, but the truth is I DONT DO TRANSACTIONS IN DOLLAR....Yes, it's affecting Nigeria's economy..so says the economists...the truth is price of common commodities is almost the same as dey were 2-3years back!
Na those who trade forex ..schooling abroad, having business deals abroad will feel this...There is huge inequality between the rich and the poor in this country.... The Rich are Seriously Crying now. I tell you, this development no concern common man on the street!
YOUR A BIG ZOMBIE, INFACT A 2 YEAR OLD GET SENSE PASS YOU

5 Likes 1 Share

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by saintkel(m): 9:33am On Dec 18, 2015
rozayx5:

my signature cheesy
Hahahaha nw I see, continue to soar high bro
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by godoluwa(m): 9:33am On Dec 18, 2015
ShowYourCertificate:
Passingshot and his ilks what do you have to say? Lalasticlala and Obinoscopy we need your comments too.
NgeneUkwenu, obailala will definitely put d blame on GEJ as usual
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by 989900: 9:34am On Dec 18, 2015
“No country quotes its exchange rate with reference to the BDCs rates. The currency has a reference rate and that is the interbank exchange rate.”

Interbank is N260-N270 already, are you st00pid from birth?

1 Like

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by Okemmuo(m): 9:34am On Dec 18, 2015
Now this is weird...
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by chuose: 9:34am On Dec 18, 2015
[size=14pt]NIGERIANS HERE IS YOUR CHANGE[/size]
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by Lighthouseman: 9:34am On Dec 18, 2015
Buharionomics is when a du.llard wants to form IMF chief. This is what we get.... Job losses
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by adioolayi(m): 9:35am On Dec 18, 2015
criminalmindz:

YOUR A BIG ZOMBIE, INFACT A 2 YEAR OLD GET SENSE PASS YOU
Professor.. tell us how this has affected you personally...what transactions do you do with Naira/Dollar....If you can't educate us..Keep shut forever!

2 Likes

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by Chukzyfcb(m): 9:35am On Dec 18, 2015
Can you imagine the rubbish utterances from CBN. That the fall is attributed to "speculation" like what the heck. You starve BDCs of weekly cash, you reduce the amount of operators with no plan B and yet you still go ahead saying its speculation! This CBN governor na real Otondo!
$1 = 280! Chineke.....whether you are an Importer or Not, so long you are a Nigerian. This will Surely affect you because we always buy imported products #God dey!

1 Like

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by adioolayi(m): 9:37am On Dec 18, 2015
godoluwa:
bro, I be mini importer & its affecting my biz
I feel your pains man....It's time to look elsewhere... start selling locally made product of what you import....My two cent
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by VOICEOFJUSTICE: 9:38am On Dec 18, 2015
THIS IS WHAT RIVERS STATE MONEY HAS PUSH US INTO. ENJOY YOUR CHANGE NIGERIANS grin grin grin

SAI BABA TILL 2023 grin grin grin

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by lordmayor4(m): 9:39am On Dec 18, 2015
Time to start trading in naira....
Tell your foreign business partners that you can only pay in naira.
#BuhariAtWork
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by AkoloPeters(m): 9:40am On Dec 18, 2015
Yea, chasing opposition party members while the economy is crumbling.
MzPecs:
What APC know is to be chasing people around!


APC is a joke! undecided

1 Like

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by keyobi: 9:40am On Dec 18, 2015
Dollar has now turn to pounds. Very soon, naira will be dragging value with CFA.
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by marylandcakes: 9:41am On Dec 18, 2015
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by marylandcakes: 9:42am On Dec 18, 2015
370 naira to 1. Gbp
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by godoluwa(m): 9:43am On Dec 18, 2015
adioolayi:

I feel your pains man....It's time to look elsewhere... start selling locally made product of what you import....My two cent
thank God that importation biz is nt up to 10% of my investment. btw, Nigeria no get d thing wey I dey import which means theres no way I can source for it down here

1 Like

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by rusher14: 9:43am On Dec 18, 2015
The momentum of "growth" started to slow when the monoeconomy (Nigeria) began to experience massive slash in its most cherished commodity.

Many international businesses totally reliant on the price of oil began massive downsizing as a result of this slump.

Baker hughes 10,000 jobs:

http://www.wsj.com/articles/baker-hughes-cuts-17-of-staff-closes-facilities-amid-oils-fall-1429620250


Schlumberger 20,000 jobs:

http://www.worldoil.com/news/2015/7/17/schlumberger-job-cuts-paying-off

This situation has also rocked countries quite reliant on oil - Mighty Canada dipped into a recession earlier this year.

http://www.businessinsider.com/canada-in-recession-2015-9


What does this all mean?

Nigeria would continue to groan under this continuous strain for the immediate future until the price of oil rises substantially, until we diversify our economy in the medium to long term.

The economy needs a trigger and a budget to stimulate this is more than welcomed.

The Naira would continue to bottom out and must surpass the N350 to the dollar mark.

It is important that the people must display a high sense of patriotism from the leaders down to the common man.

We must buy Nigerian if we can help it, contribute our honest quota and back the government as it attempts to retrieve what has been frittered away.

This is not time to be profligate. Nor is it time to be cynical.

The reality is upon us.

We could never have sustained the waste as we did in the last part of the decade and we should adjust to a new world of commerce and industry

3 Likes

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by olajide8(m): 9:44am On Dec 18, 2015
@seun when I said you should talk you ignored me, when I said nigerians a wicked you didn't answer me- I said people are importing Garlic and our foreign exchange going- one small boy said nothing concerns him- okay O!

https://www.nairaland.com/2795773/seun-talk-o-nigerians-importing

3 Likes

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by daveyjay(m): 9:45am On Dec 18, 2015
Gravitational force of free fall
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by MzPecs(f): 9:46am On Dec 18, 2015
AkoloPeters:
Yea, chasing opposition party members while the economy is crumbling.
May God deliver us from APC

1 Like

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by ifyan(m): 9:49am On Dec 18, 2015
Welcome to Mr Buhari government
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by tammie24: 9:52am On Dec 18, 2015
APC change
chanji chanji
shebi una don see am now!
the guy is busy chewing gworo in aso rock while the economy head towards recession
Great news IMO cos i said it. We warned!
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by gurunlocker: 9:55am On Dec 18, 2015
I am still waiting for the day to read good new about our economy since may 29, 2015..... They blame the past government and same time boosting in the achievements of past government.....

government without vision, just want to get to power.
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by olajide8(m): 9:59am On Dec 18, 2015
MzPecs:

May God deliver us from APC
No really interested in quoting people, it's just that you need to look at the responses people give like this one above, may God save us from the past PDP administration, believe it or not- people are smuggling dollars swallowing dollars and pounds and trying to runaway with it, so they can import rubbish back into nigeria, (like garlic) - taking it out of of country without benefit to nigeria- it is called trying to turn dirty money, into clean money- money laundering- how many contracts or payments have been done by this administration- none! So where did the people smuggling and importing rubbish get th money from?

2 Likes

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by porka: 10:00am On Dec 18, 2015
Elosky20:
what do you xpect when nigeria is all of a sudden accepting dollars as a means of exchange,
1 .people nw buy cloths frm supermarket in dollars,
2 .parents nw pay their children fee in dollars.
3. federal govt even change naira to dollars.
4. even crude oil is sold in dollars.
Where are they done apart frm naija.have u ever heard of dollars entering russia, have u ever seen somebody buying something in america with naira, nigeria have to man up and insist on using only naira as a means of transaction in nigeria,

Crude oil is sold in dollars all over the world. It's not only in Nigeria.

Do you want the South Koreans and Indians to buy crude oil in naira from Nigeria? Where will they get naira?
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by MzPecs(f): 10:01am On Dec 18, 2015
olajide8:

No really interested in quoting people, it's just that you need to look at the responses people give like this one above, may God save us from the past PDP administration, believe it or not- people are smuggling dollars swallowing dollars and pounds and trying to runaway with it, so they can import rubbish back into nigeria, (like garlic) - taking it out of of country without benefit to nigeria- it is called trying to turn dirty money, into clean money- money laundering- how many contracts or payments have been done by this administration- none! So where did the people smuggling and importing rubbish get th money from?
And who are the people that make up this APC govt?

1 Like 1 Share

Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by Menace2Society(m): 10:01am On Dec 18, 2015
tmanis:
wow.

why won't it fall..

diversify economy, you no free

na only crude oil waka come

nonsense!
diversify grin u think say na day job
Re: Naira In Free Fall, Slides To 280 Against Dollar - PUNCH by godzson(m): 10:02am On Dec 18, 2015
watch buhari ass lickers blame it on gej, awon ode omugo, una neva chi chun chi

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