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Nairaland Forum / Nairaland / General / Business / Naira Tumbles To 391/dollar (29548 Views)
Naira Tumbles To 503 On Parallel Market / Naira Tumbles To 490 As Dollar Shortage Continues / Naira Tumbles To 360 As Dollar Supply Dries Up (2) (3) (4)
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Re: Naira Tumbles To 391/dollar by grandstar(m): 10:31am On Feb 19, 2016 |
jerryunit48: So true! |
Re: Naira Tumbles To 391/dollar by mightyhaze: 10:36am On Feb 19, 2016 |
sseunhayor:scuse me sir?? Wot has buhari (president) got 2 do wit dese?? The buck stops at his table! We didt elect him 2 com and be running from pillar to post,..Incase u never knew it. Am v positive dat if sb like okonjo was onboard, tins wud neva hav gotten ds bad. Bughari is a disaster! 3 Likes |
Re: Naira Tumbles To 391/dollar by viktor01(m): 10:37am On Feb 19, 2016 |
Naira should not worry. soon, dollar will join in the free fall. |
Re: Naira Tumbles To 391/dollar by Atlantian: 10:41am On Feb 19, 2016 |
hahahahaa, I have some thousands of dollars sitting in my account, I think its best not to import goods, there is more profit in just selling the dollars when the shit hits 1000 naira. APC - progress! |
Re: Naira Tumbles To 391/dollar by Ziemonadex(m): 10:46am On Feb 19, 2016 |
OKDnigeria:the world don dey end |
Re: Naira Tumbles To 391/dollar by samchem(m): 10:46am On Feb 19, 2016 |
Brilliance9000:worst of it all is dat dey don't care!!! |
Re: Naira Tumbles To 391/dollar by Wizprodigy: 10:48am On Feb 19, 2016 |
oyinkinola: I hope you know that when the ₦ depreciates to ₦1000, inflation also appreciates and are even worse when the nation is import dependent. And since you are more interested in the recovery of the looted funds why don't we depreciates the ₦ officially since you don't know that when trillions of dollars is been exchanged in the black market the price value of dollar will fall. Demand and Supply. Do you have any other opinion? |
Re: Naira Tumbles To 391/dollar by egwajoe(m): 10:48am On Feb 19, 2016 |
adajiboyy:Remember this : when u insult somebody(s) father, your father will not be speard! |
Re: Naira Tumbles To 391/dollar by Nobody: 10:57am On Feb 19, 2016 |
mightyhaze: What buck stops at his table? Naira appraisal? or crude oil price appreciation? The best he can do is to look into the economy, Strengthen the economy, encourage exportation and reducing importation, improving electricity, industrialization, working and stable refineries and diversifying the economy. Nigeria as an economy cannot survive only on Crude oil. Presently, We have no absolute advantage over any country in Africa without crude oil. Can't u see this... For Naira to regain its credibility, we have to diversify and thats what Mr president is doing. All u want is magic... u can't get it |
Re: Naira Tumbles To 391/dollar by lekelee4real: 10:58am On Feb 19, 2016 |
APC, Buhari and Mr Oju yobo ( tinubu) have failed from their respective duties, dey want to fight corruption, yet they are killing the Nation... Bad Government. this is the real change they are talking about but we all do not understand the interpretation.... Change from BAD to WORSE. [code][/code] |
Re: Naira Tumbles To 391/dollar by Nobody: 11:01am On Feb 19, 2016 |
adajiboyy:What you see in every situation is a function of your perception and the side of the divide in which you belong. The key to understanding a complex problem is to ask relevant questions that borders on the fundamentals. That said, I would like to ask you to share your knowledge with us regarding the factors you think are responsible for forex price fluctuations. Rather than the easy choice of blaming Buhari, shouldn't you have also asked yourself what GEJ did with the windfall from oil revenue during his time at the helms of affairs. Or, maybe you are, perhaps, the only one in a Jerusalem who is not aware that oil price was at an all time high during that period of our national life. Government is a continuum and leadership ought to come with a great deal of foresight. So, why did it never occur to the past administration to save significantly from that windfall knowing as such condition may not remain indefinitely. If OBJ was thoughtful enough to create an account where all revenue from oil in excess of the benchmark set by the budget at the time accrued into, why couldn't GEJ follow suit? I hope you realise that solving a problem goes beyond name calling. Understanding what the issues are and what got us into this mess is what we save us ultimately. So, until we begin to encourage accountability in government, industrialization and diversification of our revenue base, you and I, shall continue to be witness of a deepening deficit in our BOP position, deficit budget, loss of purchasing power, import dependency and so on. If you keep your sentiment to yourself and rise above emotions to take on the more worthy cap of honour and reasoning, you will begin to see what I see. What do you see? Perception is key! 1 Like |
Re: Naira Tumbles To 391/dollar by Bishops10(m): 11:06am On Feb 19, 2016 |
Bennyschools:Who Okonjo Iweala help? |
Re: Naira Tumbles To 391/dollar by Sant1m: 11:15am On Feb 19, 2016 |
GoldCircle:I still maintain that the implementation of TSA and prudent management of our vault at the CBN has reduced the volume of cash in the system, the economy was definitely going to react, offcourse its not a conventional way of reducing money in circulation, but it definitely has impacted money supply, wether you like it or not. How is the parallel market funded? For us to get a proper perspective of what i mean. |
Re: Naira Tumbles To 391/dollar by stevecantrell: 11:22am On Feb 19, 2016 |
grandstar: Jerryunit48 is right. PMB shouldn't worry on whether to devalue or not. The Naira is doing that all by itself. Auto-devaluation, if you like. |
Re: Naira Tumbles To 391/dollar by Nobody: 11:36am On Feb 19, 2016 |
egwajoe:nd u are the biggest hypocrite and the biggest 2 faced individual if u never insulted GEJ.can u swear wit ur life u never insulted or abused or bad mouthed GEJ.hypocrite |
Re: Naira Tumbles To 391/dollar by Nobody: 12:06pm On Feb 19, 2016 |
GoldCircle:Madam, do you really mean to tell us that you didn't get the drift. I guess it has to be either one of two things: 1. That you do not have the requisite inclination to follow his explanation through, or; 2. That you're just being frivolous with your riposte. I'll tend to think the latter is more correct in this circumstance, but you may advise us differently if this is not your understanding. |
Re: Naira Tumbles To 391/dollar by mightyhaze: 12:14pm On Feb 19, 2016 |
sseunhayor:.'Look into',...strenghten,..encourage,etc etc. Does bughari look 2 u like some1 whoz ready 2 do any of dese? If not for mr bruce and a few wellmeaning senators,do u tink innosonvehicles wud av gottn 2 limelight like it just did? Did buhari not make budget for german cars worth billions? Wot exactly is d president doin righly 2 lift us out of ds mess. Wot was he tinkin wen he made statements like making d naira equal 2 d dollar??...mere wishful tinkin?? My guy,wake up! 3 Likes |
Re: Naira Tumbles To 391/dollar by oladeledave: 12:52pm On Feb 19, 2016 |
See o, everybody dey talk I jus dey look. Most people that have said something on this thread actually said boosting local production is the right thing to do to which is absolutely correct, but how many of them do patronise our local manufacturers even to the extent that their children go to the best schools abroad. So if someone comes here and blames the government for the present economic instability then I think they are right. |
Re: Naira Tumbles To 391/dollar by Nobody: 12:54pm On Feb 19, 2016 |
mykel20: No he won't. He'll be getting the respect and admiration accorded to a General. But please don't let me interfere in your salacious fantasy. 1 Like 1 Share |
Re: Naira Tumbles To 391/dollar by Nobody: 12:56pm On Feb 19, 2016 |
mightyhaze: It's not Buhari or the governments job to promote or advertise local business. Public and private sectors have their own shovel to dig with. 1 Like |
Re: Naira Tumbles To 391/dollar by princeonx: 1:10pm On Feb 19, 2016 |
RichYoungNigger:You and who be "we" wey pray for this? Abeg speak for yourself oga!! The naira situation and comments like yours dey make me shame! |
Re: Naira Tumbles To 391/dollar by Nobody: 1:11pm On Feb 19, 2016 |
INTERVIEWER: Why are Nigeria so behind Economically? JEWISH LEADER: The only thing Nigeria[b][/b] understand is Consumption. Nigeria don't understand the importance of creating and building wealth. The fundamental rule is to keep your money within the country. The Jews build Jewish business, hire Jewish, buy Jewish and spend Jewish. There is nothing wrong with that but it is a basic rule Nigeria cannot comprehend and follow; "He kills his fellow Nigerian daily instead of wanting to see his success. Their leaders steal from their people and send the money back to their colonial master from whom they borrow the same money from. Every successful Nigerian want to spend his money in the country of his colonial masters. They go on holiday abroad, buy houses abroad, school abroad, go for medical treatment abroad etc instead of spending this money in their own country to benefit their people. Statistics show that the Jew's money exchanges hands 18 times before leaving his community while for Nigerians it is probably a maximum of once or even zero. Only 1% of Nigerians money goes back into their community. This is why Jews are at the top and Nigerians are at the bottom of every ladder of society and yet they open their dirty mouth to say " We are the Giant of Africa" lol!!! Nigerians/Nigerian Government should industrialize Nigeria/Africa and get rid of colonial institutions by putting them out of business. Become the Giant they were born to be. INTERVIEWER: What is your thought on failure of Nigeria after over 50 years of independence? JEWISH LEADER: Well, nothing is ever the Nigerian man's fault. His compulsive habit of killing his own, compulsive material consumption. His inability to build businesses or preserve wealth are usually somebody else's fault. just Like BUBU INTERVIEWER: So what can Nigerians do to liberate themselves JEWISH LEADER: Nigerians must take responsibility. Nigerians must unite. And vehemently fight corrupt leaders who run down their country and run to IMF as though IMF is Father Christmas. Pls. forward this until it goes round the country particularly to our parasitic leaders. We all need to learn our lessons quick and build our Nation. |
Re: Naira Tumbles To 391/dollar by bluebabyboy1: 1:52pm On Feb 19, 2016 |
vkon2: SMH! What else did you expect him to do after he lost - refuse to leave office like other African leaders Yo u should thank God he lost, otherwise things would be 3x worse off. GEJ and his team bled our dear country dry when a barrel of oil was $120 - you can imagine if he won and the stealing continued with a barrel selling for $20-30. What we are suffering is a result of the mismanagement that PDP supervised in 16 years!!! 1 Like |
Re: Naira Tumbles To 391/dollar by Ojezzzypopsy: 1:53pm On Feb 19, 2016 |
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Re: Naira Tumbles To 391/dollar by Mike008(m): 2:03pm On Feb 19, 2016 |
Brilliance9000: Compare the price of crude oil then and now then you'll know your write-up lacks common sense. When oil price had not reached an all time low, "Jonathan's people" enriched themselves drastically from the booming oil prices instead of enriching Nigeria. He inherited 165 naira to 1 Dollar yet couldn't stop the naira from falling further, a phenomenon his so-called "strong, powerful economic team" could have forseen and guarded against. I think God delivered Jonathan from been subject of an even more disastrous economy, somehow for his neglectful big-heartedness. Times and circumstances have changed in a short while. Today it is different. The major strength of the economy is weak, that is a common knowledge. If Buhari was president years ago, Nigeria's condition would have been far better now despite the fall in oil prices. I have not written of Nigeria's chances of having a stable economy. |
Re: Naira Tumbles To 391/dollar by 14(m): 2:03pm On Feb 19, 2016 |
Wizprodigy: Before end of march it will be N1000 to $1. Nigeria was told to devalue the currency and ignoredmthe request, now watch when Naira do the free fall due to shortages dollars because no foreign investor is investing in Nigeria |
Re: Naira Tumbles To 391/dollar by Wizprodigy: 2:19pm On Feb 19, 2016 |
14:Had the naira been allowed to find it true value there wouldn't have been a free fall. Overdependence on crude oil is now hunting us after years of yearning for diversification. Regionalism is our way out since the centre can't support the units the the units should support the centre but that wouldn't happen because of oil rush which isn't a stressful means of making money. The two states that MIGHT stay afloat would be lagos and anambra. Lagos for been an industrial state already and anambra for diversifying her economy(agriculture, autos and education). Other states including mine would find it difficult to cope with this harsh economic challenges |
Re: Naira Tumbles To 391/dollar by femiero: 2:20pm On Feb 19, 2016 |
oyinkinola: listen to yourself. Dementia is your diagnosis 1 Like |
Re: Naira Tumbles To 391/dollar by experience16: 2:30pm On Feb 19, 2016 |
dallyemmy: |
Re: Naira Tumbles To 391/dollar by sullivanX: 2:34pm On Feb 19, 2016 |
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Re: Naira Tumbles To 391/dollar by Themandator: 4:23pm On Feb 19, 2016 |
oyinkinola: How much and when is the return going to hapoen? |
Re: Naira Tumbles To 391/dollar by mightyhaze: 5:30pm On Feb 19, 2016 |
EgunMogaji:well,ur right! But common sense shd have told him dat at a time like dis he shd strive to patronise locally made goods 2 save our forex! Dat aint rocket science na! Any dullard in nigeria knws dat we are wher we are 2day due 2 overdependence on foreign goods. Dollar is 4h now bros and tins have skyrocketted...I just bot nivea rollon 2day for 7h against 300/350 dat I normally buy it. I'l leav u 2 catch ma drift,.. 3 Likes |
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