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Nairaland Forum / Nairaland / General / Business / Naira Depreciates To N355/$ (45573 Views)
Naira Depreciates To N520 Against U.S. Dollar As Retailers Examine CBN Action / CBN Meets BDCs As Naira Depreciates To N466/$ / Naira Depreciates To N375/$ In Parallel Market (2) (3) (4)
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Re: Naira Depreciates To N355/$ by doctokwus: 5:42pm On Feb 25, 2016 |
Speculators. The real rate of the $ is somewhere around 250. Due to the fall yesterday,people naturally mopped up available dollars and wud soon start releasing it to make profit. The naira wud continue fluctuating due to speculation for some time to come. |
Re: Naira Depreciates To N355/$ by anonimi: 5:42pm On Feb 25, 2016 |
Burger01: You still get mouth? Person wey suppose cover im head for shame? Okay oh. Match go soon end- 2019 is just three years away, nor be so 2 Likes 2 Shares |
Re: Naira Depreciates To N355/$ by TheSunSon: 5:45pm On Feb 25, 2016 |
martineverest:Is Ubah your president?? He has only shown and proven that truly he can achieve his claims,if Nigeria wants his services then they should do the needful. 12 Likes 1 Share |
Re: Naira Depreciates To N355/$ by piagetskinner(m): 5:45pm On Feb 25, 2016 |
Who shall we blame this time around.... |
Re: Naira Depreciates To N355/$ by Nobody: 5:47pm On Feb 25, 2016 |
Op's high on cheap shit. https://www.naij.com/741697-read-the-latest-development-on-nairadollar-exchange-rate.html |
Re: Naira Depreciates To N355/$ by Aminat508(f): 5:47pm On Feb 25, 2016 |
[size=13pt]See reasons here.. .. www.Amiloaded.com [/size] |
Re: Naira Depreciates To N355/$ by UrbanMystique: 5:48pm On Feb 25, 2016 |
AK481:I thought it was uhah? 1 Like |
Re: Naira Depreciates To N355/$ by siraj1402(m): 5:48pm On Feb 25, 2016 |
DOLLAR = N197 Please let us explain to those that don't understand Economic terms. Dollar has not increased since Buhari became president 1. Dollar is not our currency so dollar should not be our business 2. Our problem is not d government but our problem is our importers and consumers 3. Naira has remained at 197 naira to 1 dollar since Buhari became president 4. Buhari has promised not to devalue the Naira and he has maintained that promise 5. Both at CBN and at interbank rates, dollar has remained 197 6. However because we are too lazy to produce what we use in Nigeria we import even toothpicks and matches 7. Buhari does not like d importation of luxury goods because luxury goods is d reason for most corruption, that is why he banned 41 products from having access to forex 8. However when Nigerian importers insisted on importing those 41 products, FG asked them to find their dollar at d BDCs parallel market also known as black market 9. And to discourage the pressure Nigerians are mounting on the Naira just to get dollars for importation, CBN banned DMBs from selling dollars to BDCs 10. To survive the pressure of excess dollar demands, BDCs resorted to sourcing for dollars from neighbouring countries through illicit money laundering routes 11. Because of the risks faced by BDCs to source for dollars, and because of the increase in demand for dollars by importers because China just resumed from their business holidays, BDCs keep increasing the price at which they exchange dollars to naira and now it is 400 Naira to 1 dollars 12. However that does not mean that govt has changed the exchange rate because if our genuine importers go to CBN and fill Form M to import raw materials for local production, they will get dollars at 197 naira each 13. So the problem is that we love to consume luxury foreign products yet we are too lazy to manufacture them here. 14. For example u will see a dull girl using iPhone 5 without even knowing simple physics and computer engineering part of how that phone was produced 15. I want Buhari to ban every foreign product from Nigeria until Nigerians learn to produce and use Made in Nigeria products 16. Let us stop complaining about dollar as if dollar has become Nigeria's currency 17. It is even bad enough that most of those complaining about the high exchange rate of dollar do not have 1 single dollar in their purse. 8 Likes 2 Shares |
Re: Naira Depreciates To N355/$ by piagetskinner(m): 5:49pm On Feb 25, 2016 |
EgusiSoup: I think u need to go back to elementary school.... 1 Like |
Re: Naira Depreciates To N355/$ by Nobody: 5:49pm On Feb 25, 2016 |
As per See saw |
Re: Naira Depreciates To N355/$ by EgusiSoup: 5:51pm On Feb 25, 2016 |
piagetskinner: I think you need to has your brain checked 1 Like |
Re: Naira Depreciates To N355/$ by jpipe2000(m): 5:53pm On Feb 25, 2016 |
too bad, i was just celebrating d recent appreciation. Our govt needs 2 gt down 2 work asap. |
Re: Naira Depreciates To N355/$ by anonimi: 5:53pm On Feb 25, 2016 |
piagetskinner: www.nairaland.com/attachments/3115319_fbimg1448250582417_jpegc4783182a1b9ab0ed04c3f1b5f5e1fbf www.nairaland.com/attachments/3365132_img28444825621079_jpeg_jpegf9550905cf76a0528a45c012d90bd633 www.nairaland.com/attachments/3354450_buhariblamegame_jpeg0b14609fadf8ec0fc0075fc327e83784 6 Likes 2 Shares |
Re: Naira Depreciates To N355/$ by piagetskinner(m): 5:53pm On Feb 25, 2016 |
EgusiSoup: Oga no kill person with laugh... 1 Like |
Re: Naira Depreciates To N355/$ by piagetskinner(m): 5:54pm On Feb 25, 2016 |
EgusiSoup: Oga no kill person with laugh... How much is egusi selling 4 in ya area? 2 Likes |
Re: Naira Depreciates To N355/$ by martineverest(m): 5:54pm On Feb 25, 2016 |
TheSunSon:when u were hailing him as if he's the president 2 Likes |
Re: Naira Depreciates To N355/$ by Nobody: 5:58pm On Feb 25, 2016 |
EgusiSoup: All this people sef.....he's the president deal with it...or you wan make em resign 1 Like |
Re: Naira Depreciates To N355/$ by Burger01(m): 5:59pm On Feb 25, 2016 |
anonimi:You guys should be the shameless ones here. I'm proud of Buhari and I stand by him come rain come shine because he is not clueless and not corrupt. Sometimes, I do wonder if you guys will ever mean and want well for Nigeria... In your presence Nigeria will be great Mind you, in that 2019, just don't ever think of PDP 3 Likes |
Re: Naira Depreciates To N355/$ by piagetskinner(m): 6:04pm On Feb 25, 2016 |
Jumizie13:That's the official CBN rate... Unless ure being sarcastic |
Re: Naira Depreciates To N355/$ by Nobody: 6:04pm On Feb 25, 2016 |
smh. Why is ifeaying ubad messing with our currency. |
Re: Naira Depreciates To N355/$ by drss(m): 6:06pm On Feb 25, 2016 |
buari's body odor at work. 1 Like |
Re: Naira Depreciates To N355/$ by diva90: 6:06pm On Feb 25, 2016 |
I knew it was a temporary change. It's going to go back to N380/390/400 by next week. |
Re: Naira Depreciates To N355/$ by nitt: 6:09pm On Feb 25, 2016 |
Built2last: dnt u get it, the FG can do little at this point on the fx the volatility is compounded by the so called speculators or as I prefer to call them the 'fx mafia'. hoarding just cos they want d cbn to revoke some policies taken som months bak. it's a situation we brought upon ourselves frm way bak since we refused to diversify and grow local content. Buhari is doing the difficult but best approach for the majority at expense of an elite selfish few support where it's merited |
Re: Naira Depreciates To N355/$ by drss(m): 6:09pm On Feb 25, 2016 |
TheSunSon:hahahahaha no mind d pikin so they expect d gain in naira to be a permanent ting without buari's economic policy which is nonexistence 1 Like |
Re: Naira Depreciates To N355/$ by babydioku(f): 6:10pm On Feb 25, 2016 |
siraj1402:1. What are the products you have made so far ? 2. How many millions of these products have you made? 3. Do you use power from the grid or power from your generator? 7 Likes |
Re: Naira Depreciates To N355/$ by Progressive01(m): 6:10pm On Feb 25, 2016 |
EgusiSoup:Anyone that speaks this sort of english needs to "has" their tuition refunded. 1 Like |
Re: Naira Depreciates To N355/$ by onatisi(m): 6:11pm On Feb 25, 2016 |
write2obi:
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Re: Naira Depreciates To N355/$ by siraj1402(m): 6:12pm On Feb 25, 2016 |
babydioku:Oga what exactly are you insinuating? To continue importing? |
Re: Naira Depreciates To N355/$ by femijohn21(m): 6:12pm On Feb 25, 2016 |
Before March 1st it shall be 150#- one dollar . |
Re: Naira Depreciates To N355/$ by Azuwonder(m): 6:14pm On Feb 25, 2016 |
Barely true cos this afternoon the naira traded at 218 to $1. Anyway the article did say "yesterday". |
Re: Naira Depreciates To N355/$ by drss(m): 6:15pm On Feb 25, 2016 |
Burger01:by d time u start competing with monkeys on mango trees in veiw of coming economic hardship under buari una eye go clear. 1 Like |
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