Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,153,481 members, 7,819,753 topics. Date: Monday, 06 May 2024 at 10:23 PM

Naira Falls To 230, Dollar Supply Dries Up - Business (5) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Falls To 230, Dollar Supply Dries Up (21641 Views)

Naira Slides To 405/$ Amid Tight Dollar Supply / Naira Gains On Fresh Dollar Supply, Now 390/dollar / Naira Tumbles To 360 As Dollar Supply Dries Up (2) (3) (4)

(1) (2) (3) (4) (5) (Reply) (Go Down)

Re: Naira Falls To 230, Dollar Supply Dries Up by ajepako(f): 11:10am On Jul 02, 2015
onatisi:
Benin ,niger,chad ,togo or ghana but don't go to libya oooo grin the next time someone shouts change you will ask him what type of change grin

Try West Germany

1 Like

Re: Naira Falls To 230, Dollar Supply Dries Up by ajepako(f): 11:15am On Jul 02, 2015
IGBOSON1:


^^^Gracias mi amigo! smiley


De nada mi hermano!

Buenas tardes..
Re: Naira Falls To 230, Dollar Supply Dries Up by silvernus0: 11:32am On Jul 02, 2015
dipopooo:
Baba please start fulfilling all ur promises.

#1 = $1


#BabaOneChance



BY 2019


1 USD = 500 NAIRA.
.
.
.
..
THAt is the change


.
.
.
.
..
.
grin grin grin ;DAFTER RALL U GIVE ME 1 USD i GIVE U N499 CHANGE grin grin grin no blame conductor

1 Like

Re: Naira Falls To 230, Dollar Supply Dries Up by loomer: 11:37am On Jul 02, 2015
ajepako:



Try 'President Michelle of West germany'

I beg who be that?
Re: Naira Falls To 230, Dollar Supply Dries Up by BizBayo: 11:45am On Jul 02, 2015
adenine02:
For sure saTANs will go to hell
Dis is d exchange rate from CBN 2 days bak below
angry angry angry

bros, no mind dem jare. The abokis are fighting for their economy destructive business. And some saTANs never realized that. I see nothing but better days, ahead.
Re: Naira Falls To 230, Dollar Supply Dries Up by kuroben4real: 11:47am On Jul 02, 2015
Bollove:
Change is happening and Buhari has forewarned us to brace up for the challenges of next few months in order to have years of enjoyment.

Bad structure need to be demolished to institute a better one ... you don't build good structure over bad foundation.
continue to console urself as if u are blind...

1 Like

Re: Naira Falls To 230, Dollar Supply Dries Up by omooba969(m): 12:16pm On Jul 02, 2015
kay1one2:


And you bought that crap?!

Mr. Pessimist how far, u 've got to mention ur kind of solution to d mess ur role model left behind & if u feel d need to be critical, do so constructively ok. undecided
Re: Naira Falls To 230, Dollar Supply Dries Up by omooba969(m): 12:21pm On Jul 02, 2015
kuroben4real:

continue to console urself as if u are blind...

As u cannot SEE wot changes datz necessary for 9ja to operate normally under a conducive economic environment, am so sorry sir... You are the one who's blind here ! undecided
Re: Naira Falls To 230, Dollar Supply Dries Up by Tex42(m): 12:45pm On Jul 02, 2015
Nazeeboy:
Instead of coming down e dey go up. Baba what happen to #1»»»$1? Smh #BabaOnechance ooooo
baba is actually taking his time to make sure that $1 =N1 overnight.

#babagoslow.

1 Like

Re: Naira Falls To 230, Dollar Supply Dries Up by stankezzy: 1:36pm On Jul 02, 2015
omooba969:


Mr. Pessimist how far, u 've got to mention ur kind of solution to d mess ur role model left behind & if u feel d need to be critical, do so constructively ok. undecided
and obasanjo left a full national treasury for jonathan , usa that spent almost 10 millions to remove educated president and put an ilitrate because they said jonathan is becoming too wise .do you think they mean well for nigeria?
carrying of Nigerian s money was even more during obasanjo tenure because nobody was challenging him , unlike jonathan that will say one thing and people will question him. obasanjo ruled as he wanted but still jonathan was able to stabilise the economy.
when jonathan increased fuel price to 87 there was demonstration for almost one month but now duladin.ho is saying that it will increase fuel to 150 nobody de demonstrate.
THIS COUNTRY EVERYBODY will REGRET CHASEING OUT AN EDUCATED PERSON (JONATHAN) AND PUTTING AN ILLITERATE (BUHARI) also known as baba duladin.ho or baba go slow

2 Likes

Re: Naira Falls To 230, Dollar Supply Dries Up by Nobody: 1:59pm On Jul 02, 2015
IGBOSON1:


^^^Thanks Bros! I just like reading scary novels.....like those of Stephen King! smiley
No wonder!!! I was wondering how you could imagine and properly put down in writing a scene like that.
Re: Naira Falls To 230, Dollar Supply Dries Up by victorv12(m): 2:02pm On Jul 02, 2015
Nigeria politicians and civil servants are evil. See what they did to our economy?
Re: Naira Falls To 230, Dollar Supply Dries Up by AbuMaryam1(m): 2:12pm On Jul 02, 2015
989900:


Where do you people get this insane idea?

Why don't we just devalue the Naira to N1000 to $1 to "encourage local manufacturers on quality production, efficiency etc. Then we would start competing with the developed world."

Then when MTN asks you to pay N200/min for calls, or PMS sells for N600/litre and we will all "live happily ever after"?

You are missing the cogent reasons of devaluation, you devalue your currency in consideration of your performances not over hiking. Kindly read the lines don't just quote out of context.
Re: Naira Falls To 230, Dollar Supply Dries Up by AbuMaryam1(m): 2:13pm On Jul 02, 2015
erico2k2:

eh devalue what.if I hear am.was this not what the post govt did and we say he was clueless. sad

Even I was not a fan of Jonathan, how did comment sounds to you?
Re: Naira Falls To 230, Dollar Supply Dries Up by twosquare(m): 2:18pm On Jul 02, 2015
musicwriter:
One of the things the CBN should do to help this situation is start encouraging
more dollar inflows anyhow they can. Example; by allowing Nigerians receive
paypal payments. So far, Nigerians wire millions of dollars per day overseas in
purchases, but we're not allowed to receive. The CBN should get paypal and
the rest of those payment platforms to allow Nigerians receive money as well.
This will certainly help, no matter how little.

CBN stop being dumb!. Get dollar from all sources possible!. You have not exhausted all avenues to get dollar!.
honestly, u have said it all. That's part of foreign currency flow into the economy. Sometimes I wonder the type of mumus wey dey at the helm of affairs. I did a research concerning ebook and its impact on the economy; as at 2013 South Africa was generating close to $5 million dollars. Just on ebook, not other online businesses. That Paypal issue should be addressed and other platforms. Money is just going out, not coming in. How foolish that can be. These are little drops that makes mighty oceans.
Re: Naira Falls To 230, Dollar Supply Dries Up by tochstorm(m): 2:30pm On Jul 02, 2015
Bollove:
Change is happening and Buhari has forewarned us to brace up for the challenges of next few months in order to have years of enjoyment.

Bad structure need to be demolished to institute a better one ... you don't build good structure over bad foundation.
please remind me of the bad structure.
Re: Naira Falls To 230, Dollar Supply Dries Up by omooba969(m): 2:57pm On Jul 02, 2015
stankezzy:
and obasanjo left a full national treasury for jonathan , usa that spent almost 10 millions to remove educated president and put an ilitrate because they said jonathan is becoming too wise. do you think they mean well for nigeria?
carrying of Nigerian s money was even more during obasanjo tenure because nobody was challenging him , unlike jonathan that will say one thing and people will question him. obasanjo ruled as he wanted but still jonathan was able to stabilise the economy.
when jonathan increased fuel price to 87 there was demonstration for almost one month but now duladin.ho is saying that it will increase fuel to 150 nobody de demonstrate.
THIS COUNTRY EVERYBODY will REGRET CHASEING OUT AN EDUCATED PERSON (JONATHAN) AND PUTTING AN ILLITERATE (BUHARI) also known as baba duladin.ho or baba go slow

@bolded,
Please reference your claim & I will understand that you have an idea what you are all about.

Jonathan stabilised the economy grin ...clap for yourself baby. How do you measure economic stability/success? Is it by what you read in 9ja newspapers or what you see&hear on Channels TV?

Look here baby, do your research & bring your findings here for all to see.

1. Employment level under Obj, Yar'adua & GEJ?

2. Level of inequality, lawlessness & corruption with examples?

3. Level of security with regards to lives & properties?

4. Height of impunity?

5. GDP level & treasury balance @end of tenure?

6. Balance of Foreign Reserve @end of tenure?

Abeg seek knowledge!
Re: Naira Falls To 230, Dollar Supply Dries Up by IBBG(m): 3:36pm On Jul 02, 2015
Hehehehehe. Buharinomics at play there. While it is not necessarily bad to devalue d currency, but in a country like Nigeria that is 80percent import dependent with absolutely little to nothing basic factors of production to facilitate export other than crude oil. Then its a sure recipe for inflation. How I wish the government can fix power, then u'll see how the economy will just soar on it own.
Re: Naira Falls To 230, Dollar Supply Dries Up by erico2k2(m): 4:07pm On Jul 02, 2015
989900:
CBN: N196.xx

Interbank: N212-N21x

Parallel MKT: N230.



#spotthefraud#currencyracketeering
no wonder money transferees are giving us what we call good rate.today it's N336 to the £1
Re: Naira Falls To 230, Dollar Supply Dries Up by erico2k2(m): 4:10pm On Jul 02, 2015
twosquare:
honestly, u have said it all. That's part of foreign currency flow into the economy. Sometimes I wonder the type of mumus wey dey at the helm of affairs. I did a research concerning ebook and its impact on the economy; as at 2013 South Africa was generating close to $5 million dollars. Just on ebook, not other online businesses. That Paypal issue should be addressed and other platforms. Money is just going out, not coming in. How foolish that can be. These are little drops that makes mighty oceans.
I do not know your location but if you was in the west you will quickly realizability the amount of foreign currency floating 8 to N8 geriatric is alarming though restricted to the black market.these Marchants put western union out of business.
Re: Naira Falls To 230, Dollar Supply Dries Up by CHANCEMAN: 6:31pm On Jul 02, 2015
How was Soludo able to merge the two markets together? That is the only feasible long term solution ,other than a miracle happening, like a spike in crude oil prices or the emergence of another export cash cow. As long as the exchange rate is managed administratively without sufficient reserves to back it on a long term basis the disparity in rates will continue. The restrictions have to be limited. The signs of things to come started when Sanusi stopped payment of money transfer inflows in forex.
Re: Naira Falls To 230, Dollar Supply Dries Up by Superman11(m): 6:34pm On Jul 02, 2015
[size=22pt]STOP BUYING DOLLARS the NIGERIAN CURRENCY WILL RISE!![/size]
Re: Naira Falls To 230, Dollar Supply Dries Up by twosquare(m): 6:43pm On Jul 02, 2015
erico2k2:

I do not know your location but if you was in the west you will quickly realizability the amount of foreign currency floating 8 to N8 geriatric is alarming though restricted to the black market.these Marchants put western union out of business.
Perhaps so but you should know life isn't made for only one person to enjoy. The same system that brought Western Union, birth Paypal, Payoneer, Payza and co. Western Union can't handle it all. And the prize of WU is high. People that are making meagre money online won't subscribe to it and WU is not thinking of competition. Whereas, these companies only want to survive the climes by putting others out of business. No one has the monopoly of business entrepreneurial skills bro. Monegram is also there. I think WU have their own card too, do they? I'm not sure, perhaps others can shed light on it.
Re: Naira Falls To 230, Dollar Supply Dries Up by gsalvatore: 6:44pm On Jul 02, 2015
Mrcdorv:
To all you who are throwing yab on our able president,you need to get tthis. to your head....everyday raising of dollar against dollar is a result of past misappropriate spending and empty of Nigeria treasury bill.Gej,turn Niggeria economy upside down so blame it on him ok.Now is not able the past but the present and the future let join hand together think of final solution and also encourage the present goverment and not the blame blame blame!!!.
Please don't do this to yourself here.
. Empty treasury? Do you know how much Nigeria makes a day? How much was a dollar to naira when the new government came in?

Let Buhari she Nigerians what GEJ handed over to him.
If you think the treasury is empty then you are not even in this country. That propaganda is for campaign.

Did you hear any governor or president himself declare his asset? Guy there is no change. Wake up.

Same people. Wash and Rinse and Repeat

The new governments knows that if they can't tell the intelligent ones that rubbish...
Wake up brother... You don't know these politicians

1 Like

Re: Naira Falls To 230, Dollar Supply Dries Up by erico2k2(m): 7:04pm On Jul 02, 2015
twosquare:
Perhaps so but you should know life isn't made for only one person to enjoy. The same system that brought Western Union, birth Paypal, Payoneer, Payza and co. Western Union can't handle it all. And the prize of WU is high. People that are making meagre money online won't subscribe to it and WU is not thinking of competition. Whereas, these companies only want to survive the climes by putting others out of business. No one has the monopoly of business entrepreneurial skills bro. Monegram is also there. I think WU have their own card too, do they? I'm not sure, perhaps others can shed light on it.
Nah trust me WU is dead when it comes to money transfer to Nigeria and west Africa, their target market is now the Caribbean sending cost is low but they will give you crippling exchange rate.,for the last five years, I cant remember anybody sending money to Nigeria via western union when you can wire direct to your bank account in Nigeria at highest rate same day delivery

1 Like

Re: Naira Falls To 230, Dollar Supply Dries Up by Dreamtouch: 7:58pm On Jul 02, 2015
Everybody is complaining already so who voted him in? Can't we get a northerner to be in charge of finance? Some people will blame Gej throughout this tenure..
Re: Naira Falls To 230, Dollar Supply Dries Up by CHANCEMAN: 9:14pm On Jul 02, 2015
erico2k2:

Nah trust me WU is dead when it comes to money transfer to Nigeria and west Africa, their target market is now the Caribbean sending cost is low but they will give you crippling exchange rate.,for the last five years, I cant remember anybody sending money to Nigeria via western union when you can wire direct to your bank account in Nigeria at highest rate same day delivery

How many people in diaspora have accounts in Nigeria? How about the cost of wiring? At what rate do you exchange the forex in Naira?
Re: Naira Falls To 230, Dollar Supply Dries Up by erico2k2(m): 10:47pm On Jul 02, 2015
CHANCEMAN:


How many people in diaspora have accounts in Nigeria? How about the cost of wiring? At what rate do you exchange the forex in Naira?
almost everybody who traveled abroad in the past 8 years have accounts in Nigeria.Cos it will cost you more than a Milion to travel and that money is usually in a bank, I do not understand your question but as at today s rate its N336 to the pound in the local transfer market on the high street, it cost £30 to send £1000,

(1) (2) (3) (4) (5) (Reply)

Nigeria To Resume Oil Export To United States / Hotel And Mall Craze Sweeps South East Nigeria (pics) / CBN Restricts Foreign Banks From ‘Banking Businesses’

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 66
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.