i think dollar was today 185 naira when i ask one aboki who is living beside my office.

Fhemmmy:

Next time, read well, be4 u post.

Meaning what?
You should apply this comment to yourself.

maballack:

@crescent,
Just as you have Nigezzie-Nigeria
las Gidis-Lagos
Bengazzi-Benin(edo)
@JJYou
if a $ is 179
and £1 is 1.49$

do the calculation, means £1 = 1.49 * 179=266.7~265 (most likely)

thanks so much. it is selling time.

Hey your, do your see the dollar going down to like $140 at the black market anytime soon.

$ -178.5 as at yesterday

lawrencead:

Hey your, do your see the dollar going down to like $140 at the black market anytime soon.

how do you see it coming down in a nation where you generally have to sell your own currency to buy other nations currency to trade?

egin:

Meaning what?
You should apply this comment to yourself.

Meaning read well the news that you were commenting on, did the news said the dollar was nosediving?
There are some of us that are affected by what $$ does in Nigeria, so when you wanna post, read well, and understand the news be4 u post.
According to the new, it says, cos of lesser demand, there are like 20K difference in the official rate, which never made it to the black market, where most people buy the $$, so how is that nosediving?

JJYOU:

how do you see it coming down in a nation where you generally have to sell your own currency to buy other nations currency to trade?

I think there is a possibility for that to happen.
There is just too much scarcity.
And what nigeria is known of, is so low (oil)
And if the Federal govt could try and get a new way of people buying $$ and we not having to depend on the black market.

Hey your, how much is dollar at the black market today?

$1 to N179

Hey your, should the Oil goes higher ($80per barrel) do your see the Dollar going down to like $140 to a Naira?

This is coming from the banks as of today thursday 7th of may 2009.
1 US$=: =N=149.55

1GBP : =N=227.69

We want the black market rates. Nobody is interested in the bank rates because they are never available in the banks.

egin:

We want the black market rates. Nobody is interested in the bank rates because they are never available in the banks.

Took the words right out of my mouth.

Na wa ooo. A business partner of mine is caught up in this one. he has over 27million accumulating there in Nigeria that needs to come back to the UK, he is finding it difficult changing to pound at reasonable rates, this is becoming ridiculous. He is telling on the phone there is no petrol in Lagos, it keeps raining non stop and Soludo as turned a scaremonger over night by saying that there is another Economy down turn coming

God help us, is it worth doing business in naija at all,

BAC:

Na wa ooo. A business partner of mine is caught up in this one. he has over 27million accumulating there in Nigeria that needs to come back to the UK, he is finding it difficult changing to pound at reasonable rates, this is becoming ridiculous. He is telling on the phone there is no petrol in Lagos, it keeps raining non stop and Soludo as turned a scaremonger over night by saying that there is another Economy down turn coming

God help us, is it worth doing business in naija at all,

NO LIGHT! NO FUEL! NAIRA FALLS!!! PLENTY DISASTERS!! DAMN!!! WHY MY COUNTRY!!! WHY!! WHY US!! WHY WE! WIREEE!!!

GOD WE NEED A CHANGE

Abeg,can anybody tell us the official abokis rate for today.Please

180, @nacho

As at yesterday Euro was exchanged for 233 Naira

ayomifull:

As at yesterday Euro was exchanged for 233 Naira

Guys, hold on to your money as the exchange rate will go up with all the bad news coming out of Nigeria. This is a country where nothing works for the ordinary people.

To be honest, just think of all the factors that instill confidence in a country's currency; 99.99% of them are lacking in Nigeria

I am predicting N200 to $1 before the end of next week.

I don't understand becos I thought whenever the Oil rises up nigeria currency get stronger, but now is not the case no more. Somebody, at nairaland with better views & understanding should enlighten me on this becos I don't get it yet. As of Friday May 08' 2009 the Oil rises to above $58per barrel & still don't reflect on nigeria currency at all.

Yes, high price in crude oil means more dollars in Nigeria's account, but that is not enough to stabilize an economy already in crises, we are experiencing high movement of funds, investor arent sure where to invest their money, most are gambling on the dollar. Hence whenever the price drops, there is a rush to buy and stock dollars in anticipation that if it goes up they can be sold and instant profits without tax will be made. This rush drives the value higher.
Soludo in his attempt to play Mr. Smart and take glory for the bank recapitalization exercise did something that a good economist would never dream of doing he predicted dooms day ahead in the future. Remember he is the governor and investors take his words seriously, investors are always looking for signals that will tell them what direction to follow and Soludo gave the wrong signal. Until investors decide the dollar vs naira trading is no longer lucrative and return to the stock market, the pressure on dollars will continue to prevent the price from declining. Even if crude oil sells for $100 per barrel tomorrow. The banks will be the first to take advantage of any reduction in the price of dollars. Cos' one thing is for certain the Govt. has proven over and over that they are not stable hence they can be relied upon for good financial judgement.

Hey Tha Dude, I appreciate it. It sinks in my ahead now. Take care.

you wont belife it my aboki told me that $ is now 192, omo men this thing rising continuously oooo

hayodele: is your aboki reliable? Where at? Ikeja?

I just got a quotation for N181 for the USD and am trying to evaluate if this is fair deal in this market.

Cheers.

As of 11/05/2009 in Abuja: To Buy dollar N182; To Sell N180

Thank you ndu_chucks.

The N192 figures for the dollar appear to be unreasonable for today; no one has been able to match that figure. In fact, no one's appears to be offering more than N181 to the dollar in the Ikeja area;
.

Inflation is about to go off the roof if gov does not do something. I pity those that are suffering at the moment. How would they cope when the next wave of inflation decends.

Those of you looking to settle down in Naija, becareful. With no water no light, no petrol, no governement,
me I am staying right here ,


God bless Nigeria, a fool above 40.

Let the inflation go off the roof and lets know where we are. Those of us who have access to Dollars, pounds and euros, we can then take advantage of the system. The system hasnt paid us its debt, may be this is the way the system intends to pay Nigerians-diaspora.

n165