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Dollar Free Fall Continues, Sells At N425/dollar - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Dollar Free Fall Continues, Sells At N425/dollar (24885 Views)

Again Naira Falls, Sells At N465 Per Dollar / Naira Appreciates Further, Sells At N425/$ In Parallel Market / Naira Improves On Parallel Market, Sells At N501/$ (2) (3) (4)

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Re: Dollar Free Fall Continues, Sells At N425/dollar by rusher14: 7:50am On Mar 01, 2017
SamuelAnyawu:



Okay it's only Southeasterners who increased the price of their goods and services right? grin I hope it's the westerners who also increases the price of eggs, also increased the price of guinea corn, Millet, sorghums in the north too, it's also the southeasterners who increased the price of yams in Benue,

Abeg God Bless My President Yemi Osinbajo "the man wey Sabi"

Thanks for saying Osinbajo is doing a good job.

It's exactly for this reason Jonathan and his deputy were kicked out of Aso Rock never to return again.

The synergy between the president and his deputy can never be overemphasised.

We pray for the health of our president who mindful of his executive duties duly assigned his deputy to take over the mantle in his absence.

Nigeria is reaching for greater heights.


Re: Dollar Free Fall Continues, Sells At N425/dollar by REIIGN(m): 7:50am On Mar 01, 2017
ToriBlue:
This is happening mostly in the East, greedy traders want to get rich over night by ripping us off our hard earn money.

Sup Tori.
Re: Dollar Free Fall Continues, Sells At N425/dollar by supereagle(m): 7:50am On Mar 01, 2017
Expect more free fall this month.

Re: Dollar Free Fall Continues, Sells At N425/dollar by steppin: 7:52am On Mar 01, 2017
omenkaLives:
Deal with the currency issue and then confront inflation. Some Nigerians appear to be taking undue advantage of the situation. The prices of items, some of which have got absolutely nothing to do with our exchange rate, have been rising astronomically and these guys have found a convenient excuse in the cost of the dollar.
ToriBlue:
This is happening mostly in the East, greedy traders want to get rich over night by ripping us off our hard earn money.
You guys should listen to yourselves. The inflation has risen by 20%, do you expect a business man to sell at the old prices, while he buys the things he needs at new prices?
It's not done anywhere. You have to increase the prices of the products you sell, to meet up. The civil servants are demanding for an increase in salary and it's no different from what the business man is doing.
When you buy goods at N500 and it goes up in the market for 1k, you don't sell at the old price, you sell according to the current price, so you'll be able to buy again and sell.
It's as simple as that.

2 Likes

Re: Dollar Free Fall Continues, Sells At N425/dollar by MARKETfund: 7:52am On Mar 01, 2017
omenkaLives:
Theirs is understandable because they tend to import a few things that assist in the production processs. I was referring, in my earlier post, to things like "bushmeat". An antelope which used to cost 8k is now being sold for no less than 11k and when one protests, they are told "oga, dollar don go up, things cost"!

You are left dumbfounded, wondering what the dollar has got to do with some unlucky antelope! undecided

Simple economics!
The hunter that sells the bushmeat depends largely on imported goods to survive. If he goes to the market these products are on the high side, and when complained he is told that dollar has risen. In equal measure and rightly so he adopts a survival method by raising the cost of his own wares to meet up with the dwindling value of the naira.
Your blame lacks the sagacity of simple economic understanding

1 Like

Re: Dollar Free Fall Continues, Sells At N425/dollar by gowaga68: 7:53am On Mar 01, 2017
Kondomatic:
Keep quiet.


You need to travel to other states to confirm prices before making that ridiculous comment up there

Since last year, I have been coming down east to buy stuffs and bring them back here(North) to sell because they're cheaper in the east.
You take style lie here small.
When talking of buying things from the east I hope you're not referring to agro products cos that I will never agree to that.
I do bring agro produce to the east my self.
Re: Dollar Free Fall Continues, Sells At N425/dollar by Saintp(m): 7:54am On Mar 01, 2017
ToriBlue:
This is happening mostly in the East, greedy traders want to get rich over night by ripping us off our hard earn money.

Hahaha. I know your plan. You had to quote a known bigot to spew this trash so that he can help you turn this thread into a tribalism and hate filled bashing.

When will you niggas ever understand that nobody ever wins these hate fueled online wars?

1 Like

Re: Dollar Free Fall Continues, Sells At N425/dollar by abbeyty(m): 7:55am On Mar 01, 2017
omenkaLives:
Theirs is understandable because they tend to import a few things that assist in the production processs. I was referring, in my earlier post, to things like "bushmeat". An antelope which used to cost 8k is now being sold for no less than 11k and when one protests, they are told "oga, dollar don go up, things cost"!

You are left dumbfounded, wondering what the dollar has got to do with some unlucky antelope! undecided

you can't entirely blame the hunter, maybe the price of bullet he kills his antelope with has gone up because of high exchange rate and the poor hunter must balance thing up from the selling of his antelope by increasing the price so, you cant blame him.

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Re: Dollar Free Fall Continues, Sells At N425/dollar by ddippset(m): 7:57am On Mar 01, 2017
SamuelAnyawu:



Kudos to Osinbajo with his positive economic policies. God Bless My President Prof Yemi Osinbajo cool
as if calling him President Yemi Osinbajo would add more votes to PDP in the next election.
Re: Dollar Free Fall Continues, Sells At N425/dollar by Nobody: 8:02am On Mar 01, 2017
Kudos. . .to my president prof yemi osibanjo cool. . .buharry abeg no come back again. . .i take God dey beg you. . .please stay!!! undecided



#YOLO
Re: Dollar Free Fall Continues, Sells At N425/dollar by jakandeola(m): 8:03am On Mar 01, 2017
Nma27:
We need it back at 150 biko
hahaha my wife u lik bussiness

1 Like

Re: Dollar Free Fall Continues, Sells At N425/dollar by Abagworo(m): 8:04am On Mar 01, 2017
omenkaLives:
Deal with the currency issue and then confront inflation. Some Nigerians appear to be taking undue advantage of the situation. The prices of items, some of which have got absolutely nothing to do with our exchange rate, have been rising astronomically and these guys have found a convenient excuse in the cost of the dollar.

The question keeps popping up on my mind. Wetin concern Dollar with price of garri and palm oil?
Re: Dollar Free Fall Continues, Sells At N425/dollar by John902(m): 8:05am On Mar 01, 2017
ToriBlue:
This is happening mostly in the East, greedy traders want to get rich over night by ripping us off our hard earn money.
not only in the east here in Ibadan,somewhere else Ogun state and as a resident of Lagos state,I know what its like
Re: Dollar Free Fall Continues, Sells At N425/dollar by Nobleking2000(m): 8:05am On Mar 01, 2017
ToriBlue:
Do they also import food stuffs like vegetable, palm oil or better still yam?


What am saying comprises all these.

But you also forgot to add that the cost of buying some stuffs used in cultivation of these crops also went up. for example if you were buying a bag of fertilizer for 20k and now you buy at 28k how would you expect the price of his food items to remain the same.There should be proportional increase in the prize his food items.

2 Likes

Re: Dollar Free Fall Continues, Sells At N425/dollar by Kondomatic(m): 8:06am On Mar 01, 2017
gowaga68:

You take style lie here small.
When talking of buying things from the east I hope you're not referring to agro products cos that I will never agree to that.
I do bring agro produce to the east my self.
And why should I lie? Certain things are cheaper in the east, some are cheaper in the north. It depends on the part you're staying and what you sell
Re: Dollar Free Fall Continues, Sells At N425/dollar by freekick: 8:07am On Mar 01, 2017
SamuelAnyawu:



Kudos to Osinbajo with his positive economic policies. God Bless My President Prof Yemi Osinbajo cool

Re: Dollar Free Fall Continues, Sells At N425/dollar by sarz(m): 8:08am On Mar 01, 2017
SamuelAnyawu:



All kudos to Osinbajo and not APC. If it's based on party and not individuals then we should praise the Hard Working Governor of Benue Dr Samuel Ortom grin
Abeg wich of d benue...hard working ke soft work ni
Re: Dollar Free Fall Continues, Sells At N425/dollar by Nobody: 8:09am On Mar 01, 2017
ToriBlue:
This is happening mostly in the East, greedy traders want to get rich over night by ripping us off our hard earn money.

If this is true, I guess only the Easterners will be complaining about high cost of living. Last time I checked it is hitting the entire country very hard that most people are complaining bitterly, curiously, the easterners ain't even complaining that much like the other regions.
Re: Dollar Free Fall Continues, Sells At N425/dollar by sarz(m): 8:11am On Mar 01, 2017
omenkaLives:
Theirs is understandable because they tend to import a few things that assist in the production processs. I was referring, in my earlier post, to things like "bushmeat". An antelope which used to cost 8k is now being sold for no less than 11k and when one protests, they are told "oga, dollar don go up, things cost"!

You are left dumbfounded, wondering what the dollar has got to do with some unlucky antelope! undecided
..If they don't add prize to it they will not be able to buy what they need from the market
Re: Dollar Free Fall Continues, Sells At N425/dollar by 989900: 8:12am On Mar 01, 2017
nwabobo:


Do a local farmer will not buy medicine, cloth, shoes, rice, milk, car etc from the market? If the prices of things increase he has to increase his commensurately to be able to afford the basics he could afford before.

Thank you, I was looking for someone to say this all day . . . The Hunter too will buy mobile phone, wants to build house, buy car, marry, and e.t.c. . . . him no go go steal now?

This is the ripple effect of inflation.
Re: Dollar Free Fall Continues, Sells At N425/dollar by Akpan107(m): 8:17am On Mar 01, 2017
nextprince:
Another bad news for liepods.
It's important we all come out to support Pastor Osinbanjo... Either we support PDP or APC, we all need positive policies that will change the failure in Buhari's own policies. Atleast, in Pastor Osinbanjo's policies, we are all equall and to him, no area is 5% or 97%. Lets all support him.
Re: Dollar Free Fall Continues, Sells At N425/dollar by deflover(m): 8:17am On Mar 01, 2017
Even though this is a good move
How sustainable is this
Do we keep pumping more dollar in the market thereby creating an artificial surplus
And mopping out more naira
Already the deposits on money tax was introduced making us pay more to deposit money.
This only means our foreign reserves is being used to fight the dollar

Anyway it will find its low and once osinbanjo devalues the naira we will begin another rise back to 500-600 naira
Re: Dollar Free Fall Continues, Sells At N425/dollar by gowaga68: 8:17am On Mar 01, 2017
Kondomatic:
And why should I lie? Certain things are cheaper in the east, some are cheaper in the north. It depends on the part you're staying and what you sell
From your first comment it implies all products from the east are cheaper since you sell them up north which is simply a lie to what I know .
It may not sound untruthful to you but it is.
Just simply spell out this cheap things you buy there abs sell to the north if not imported products.
Am waiting.
Re: Dollar Free Fall Continues, Sells At N425/dollar by dominique(f): 8:20am On Mar 01, 2017
omenkaLives:
Deal with the currency issue and then confront inflation. Some Nigerians appear to be taking undue advantage of the situation. The prices of items, some of which have got absolutely nothing to do with our exchange rate, have been rising astronomically and these guys have found a convenient excuse in the cost of the dollar.

So true and very frustrating, what is the business of garri with dollars? Manufacturers now reduce quality and quantity of their products then increase the price of their products blaming on the dollar rise. A lot of greedy people are making huge profits at the expense of the poor folks.
Re: Dollar Free Fall Continues, Sells At N425/dollar by metallisc(m): 8:22am On Mar 01, 2017
SamuelAnyawu:



Kudos to Osinbajo with his positive economic policies. God Bless My President Prof Yemi Osinbajo cool



where your president carry vegetable dey go like this? sad

Re: Dollar Free Fall Continues, Sells At N425/dollar by Cire80: 8:22am On Mar 01, 2017
ToriBlue:
Do they also import food stuffs like vegetable, palm oil or better still yam?


What am saying comprises all these.
Are you reasonable at all? They also buy things that are imported so if they don't increase their own money, how can they afford those? Common sense would tell you this
Re: Dollar Free Fall Continues, Sells At N425/dollar by nextprince: 8:26am On Mar 01, 2017
Akpan107:
[s]It's important we all come out to support Pastor Osinbanjo... Either we support PDP or APC, we all need positive policies that will change the failure in Buhari's own policies. Atleast, in Pastor Osinbanjo's policies, we are all equall and to him, no area is 5% or 97%. Lets all support him.[/s]

And who the hell is this jumping into my mention the way he likes? Ur hero, I mean the motor park tout in Ekiti said he doesn't talk to monkeys. Fyi, I'm on the same page with him in that regard. Now jump out, the way u jumped in.

Re: Dollar Free Fall Continues, Sells At N425/dollar by obyrich(m): 8:30am On Mar 01, 2017
omenkaLives:
Theirs is understandable because they tend to import a few things that assist in the production processs. I was referring, in my earlier post, to things like "bushmeat". An antelope which used to cost 8k is now being sold for no less than 11k and when one protests, they are told "oga, dollar don go up, things cost"!

You are left dumbfounded, wondering what the dollar has got to do with some unlucky antelope! undecided
I get their point. What they mean is inflation and weak purchasing power of the naira. The naira depreciation against the dollar will affect cost of goods imported which in turn affect the antelope hunter's purchasing power. So to break even and meet his needs, he must also increase his price.
Re: Dollar Free Fall Continues, Sells At N425/dollar by mumsie: 8:33am On Mar 01, 2017
Praise God!
Re: Dollar Free Fall Continues, Sells At N425/dollar by ncoolsome(m): 8:39am On Mar 01, 2017
omenkaLives:
Deal with the currency issue and then confront inflation. Some Nigerians appear to be taking undue advantage of the situation. The prices of items, some of which have got absolutely nothing to do with our exchange rate, have been rising astronomically and these guys have found a convenient excuse in the cost of the dollar.

ur last statement shows u dnt understand much of business..if I buy things high that involve d use of dollar..the best way I cn keep buyin such as a person/businessman is to also increase d price of wat I produce even down to orange n banana..that's y I pity salary earners

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