Irony: Oil Prices And How It Affects The Naira Strength To Other Currencies??? - Business - Nairaland
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| Irony: Oil Prices And How It Affects The Naira Strength To Other Currencies??? by Onosy: 8:02pm On Mar 16, 2015 |
When the oil price fell, d naira experienced a free fall and it was blamed on the current oil price which means its d price of oil that determines the naira strength. What surprises me is the fact that when the oil price rises (as it were some years ago which led to excess crude account) it doesn't strengthen the naira as much as it weakens d naira when d oil price falls. Why is it that when the oil price falls it affects d naira proportionately but when the oil prices rises it doesn't affect the naira proportionately  I wonder if naira can ever strengthen to below a hundren naira to a dollar even if d oil price rises beyond measure. Those with better understanding on this should enlighten us please. |
| Re: Irony: Oil Prices And How It Affects The Naira Strength To Other Currencies??? by Laird(m): 10:00pm On Mar 16, 2015 |
THE DEMAND FOR DOLLAR IN NIGERIA IS HIGH SHOES PHONES LAPTOPS PERFUMES MACHINERY EQUIPMENT ALCOHOL FUEL CARS PRIVATE JETS FOREIGN SCHOOLS FOREIGN TRIPS FOREIGN INVESTORS AND COMPANIES TAKING MONEY TO THEIR COUNTRY FOREIGN SOFTWARE FOREIGN SATELLITE CABLE COMPANIES...STARTIMES AND GOTV FOREIGN ELECTRONICS FOREIGN GENERATORS AND GENERATOR PARTS MONEY MOVING TO FOREIGN BANK ACCOUNTS AND TO INVEST ABROAD HEAVY IMPORTATION RESULTING IN INCREASED DEMAND FOR DOLLAR |
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