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Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever (27502 Views)

How Naira Went From N525/$1 To N400/$1 In 3 Days / Naira Crashes To 288/dollar At New Official Market / Naira Crashes To N285/$1 At Interbank Market (2) (3) (4)

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Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by omodave(m): 6:35am On Aug 05, 2016
It's a lie

1 naira=1$ check well abeg
Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Qc1(m): 6:38am On Aug 05, 2016
Damn...! I was going to relocate back to naija next month. I'm now having a second and third thought. I really don't wanna stay here neither, this are getting out of hands, regardless the slow Canada economy I still have to pay $1200/month for rent!



.
Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by eyeview: 6:50am On Aug 05, 2016
When you think it won't get any worse under Buhari,he surpasses his own target.

Dear Nigerians,what more do we need to happen before it dawns on you that Buhari is incompetent

2 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by InvertedHammer: 6:51am On Aug 05, 2016
Ruchidera:
You must not! We need you to be available to defend Buhari and your APC masters. I remember you campaigned for them very well prior to the election. We are currently reaping the dividends.... embarassed
/
It is called stop loss.

My position:

1). Anyone but GEJ.

2). As I always say, Buhari is nothing without Idiagbon.

I didn't push your finger to vote for Buhari. As an adult, you should take full responsibility for your vote. From all indications, ain't stepping into Nigeria until after 2019 or Buhari changes.
I wish all of you the best.
\

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Ahmeduana(m): 6:55am On Aug 05, 2016
RichYoungNigga:
Wow
I so much love Buhari, he made many of us millionaires in just 6 months.
I hope he rules Nigeria for 90 years

Can you just calculate how much $5000 (little change) is in naira
BUT REMEMBER THAT THE COMMODITIES YOU ARE GOING TO USE THE NAIRA TO BUY HAS ALSO GONE UP ASTRONOMICALLY EVEN BEYOND THE REACH OF THE NAIRA, SO WHAT'S THE HULLABALOO ABOUT A VALUELESS CURRENCY!

3 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by InvertedHammer: 6:56am On Aug 05, 2016
Qc1:


Damn...! I was going to relocate back to naija next month. I'm now having a second and third thought. I really don't wanna stay here neither, this are getting out of hands, regardless the slow Canada economy I still have to pay $1200/month for rent!



.
/
You can still relocate and be comfortable.
Find a way to earn your income in dollars while in Nigeria.
That's all.

Nigeria is the last place you want to be at this time. You are better off in Canada catching opps or smoking on coon pack.
\
Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Reference(m): 6:57am On Aug 05, 2016
baby124:
When we said the rate should be controlled. The *economists* came and were screaming about unrealistic things. Now it's on a free fall, you people are crying. You never see anything yet.

Controlled with what. You want to maintain a lifestyle with falling income and eroding savings. How can you do that.

3 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by SIRTee15: 6:59am On Aug 05, 2016
grossintel:
Yes I said average job because it's still an average job, if I say high paying job then what will be the case of those earning 7m to 12m monthly? Okay they are very high payed employment I guess.

1 million # per month is not an average job.
very few people earn that a month in Naija.......top level executive managers in multinationals, senior staff in oil firms........
an average salary is one which at least 50% of the workforce is expected to earn and it's not #1 million.
professors and hospital consultants that earn that much are the ones almost close to retirement.
Abeg let's stop exaggerating things, no be this Naija we dey.

7 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by 989900E: 7:02am On Aug 05, 2016
Now we have anarchy loading . . . this is the height of cluelessness.

Minimum wage = $45/month! sad cry

So if your salary is N40,000 = $100 . . . some professionals make that in an hour!

If a medical doctor, lecturer, or engineer earn say N200,000/month = $500/month.

An average professional makes $500 in a day or 2 in a good economy . . . we are about to have another wave of massive brain drain.

3 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by erico2k2(m): 7:06am On Aug 05, 2016
grossintel:
Some oil workers earn 680k entry-level and 1m 2 years after and this is average pay to them. They earn as high as 3m to 7m in subsequent years so where do you categories this? Let's just say what a firm categories as average pay could be a high pay to others. So am still not wrong and u aren't wrong either.
How the hell is N680 average paying JOB
u dey dream ni, and let me tell you the entry level Job in an Oil company is a roastabout and they dont earn N680,I am from that region PH/Sapele angry angry
problem with some of you youths is you assume 2much and fail to see the true reflection of our society.
from your write up I can generate your age to be 30-31 Max,
Name one Entry position in the Oil sector that pays N680

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Qc1(m): 7:06am On Aug 05, 2016
InvertedHammer:

/
You can still relocate and be comfortable.
Find a way to earn your income in dollars while in Nigeria.
That's all.

Nigeria is the last place you want to be at this time. You are better off in Canada catching opps or smoking on coon pack.
\


That's a good advice, but in Naija, I can't get my income in USD.
Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by ikorodureporta: 7:07am On Aug 05, 2016
£=N500, so Brexit no reach naira side??

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by ndPeter(m): 7:09am On Aug 05, 2016
400. That's not the lowest ever
Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by eph12(m): 7:09am On Aug 05, 2016
erico2k2:

Nop STOP, this has been the case but then the previous FG had a team of managers in the finance sector and they where managing it so the citizens did not feel the effect, just today the bank of England cut interest rate ot 0.25 to stimulate the economy cos of Brexit.that was teh Bank of England not the prime minister.
We can continue to try to manage the situation but then we are only being short-sighted. Planning for the long term is key. My only grouse with our government is when they don't start taking definite actions to make us a productive country.
Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by onatisi(m): 7:11am On Aug 05, 2016
erico2k2:

How the hell is N680 average paying JOB
u dey dream ni, and let me tell you the entry level Job in an Oil company is a roastabout and they dont earn N680,I am from that region PH/Sapele angry angry
problem with some of you youths is you assume 2much and fail to see the true reflection of our society.
from your write up I can generate your age to be 30-31 Max,
Name one Entry position in the Oil sector that pays N680
This is really getting interesting

3 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by erico2k2(m): 7:11am On Aug 05, 2016
eph12:

We can continue to try to manage the situation but then we are only being short-sighted. Planning for the long term is key. My only grouse with our government is when they don't start taking definite actions to make us a productive country.
Right right, well then, waht policies have the govt take to check-mate this in the long run,? none,
they are too busy trying to recoup monies spent during election.
they do not care what happens to the rest of Nigeria tbh

2 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by erico2k2(m): 7:12am On Aug 05, 2016
onatisi:

This is really getting interesting
Hmm another Old nairalander, its nice to see Old names on here, well done grin grin grin

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by erico2k2(m): 7:14am On Aug 05, 2016
ikorodureporta:
£=N500, so Brexit no reach naira side??
No nah, but still £=500, E don Red. tongue
Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by tobex23(m): 7:15am On Aug 05, 2016
Ligxy:

12 million naira can't buy duplex anywhere. Except maybe in the bush.


Hello, greetings to you.

Please the Ongoing Mr Nairaland grand finale comes up Saturday (06/08/2016)
And this is from teamPhotoshoot..

Please, we would be very grateful if we have your support.

Please join us to crown photoshoot the winner.
What do you say?

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by erico2k2(m): 7:15am On Aug 05, 2016
Qc1:



That's a good advice, but in Naija, I can't get my income in USD.

yes you can, well not in physical $$$$, but its equivalent, you just have to be skilled and come with your skill, Im sure you got loads form that cana side.btw hows the build these days bro, hope U remeber me frm the property section wink wink
Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by onatisi(m): 7:19am On Aug 05, 2016
erico2k2:

Hmm another Old nairalander, its nice to see Old names on here, well done grin grin grin
Boss,I just dey observe ooo. Ppl dont seem to understand the magnitude of what we are warning about.

2 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by eph12(m): 7:23am On Aug 05, 2016
erico2k2:

Right right, well then, waht policies have the govt take to check-mate this in the long run,? none,
they are too busy trying to recoup monies spent during election.
they do not care what happens to the rest of Nigeria tbh
Yeah that's where our anger should be directed at. We should ask what the government is actually doing to make sure we never experience this again.
Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by erico2k2(m): 7:23am On Aug 05, 2016
onatisi:

Boss,I just dey observe ooo. Ppl dont seem to understand the magnitude of what we are warning about.
Yess ohbro, they dont know yet, very soon we go be like Zimbabwe and all the looters go take of go Asia go hide cos thats the o nly place they can hide.
Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by erico2k2(m): 7:26am On Aug 05, 2016
eph12:

Yeah that's where our anger should be directed at. We should ask what the government is actually doing to make sure we never experience this again.
yeh but check this,
wen dem say clap for Jesus if U nor get hand u fit clap
Govt should steady the boat first then plan for the future but like this, it seems no one cares or they just don't know how.
Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by MrPresident1: 7:26am On Aug 05, 2016
Luke 21: 25-28
25 And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth distress of nations, with perplexity; the sea and the waves roaring;
26 Men's hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken.
27 And then shall they see the Son of man coming in a cloud with power and great glory.
28 And when these things begin to come to pass, then look up, and lift up your heads; for your redemption draweth nigh


Signs in the sun, and in the moon and in the stars, distress of nations with perplexity, my sweet Jesus is coming grin cheesy.

Swing low sweet chaaaariot, coming forth to carry me hooooooome cheesy cheesy

cry

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Nobody: 7:27am On Aug 05, 2016
how can I sell my $1?

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by refreshrate: 7:28am On Aug 05, 2016
kolnel:
It's never been this bad in this country
What's the way forward. ?

That's the easiest part

...we continue to blame GEJ

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by vicben27(m): 7:29am On Aug 05, 2016
Dat is wat u get wen a clueless old man is on d thrown. We go soon strt fastin n prayers 4 u. Mak wetin hapen dat yr hapen again. Crazy miscrants every wer!

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by refreshrate: 7:35am On Aug 05, 2016
tobex23:



Hello, greetings to you.

Please the Ongoing Mr Nairaland grand finale comes up Saturday (06/08/2016)
And this is from teamPhotoshoot..

Please, we would be very grateful if we have your support.

Please join us to crown photoshoot the winner.
What do you say?

This your type of foolishness is what makes things worse in this country

How can we be discussing major issues like this and you come here with this nonsense?

It's people like you pastor Adeboye was advising girls about the other day still you won't change.

who did this to you?

7 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Nobody: 7:36am On Aug 05, 2016
RESIGNATION of the clueless nomad 'll be the best thing to happen to nigeria!....the dumb dude is a sheer waste of my vote!!

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by tobex23(m): 7:40am On Aug 05, 2016
refreshrate:


This your type of foolishness is what makes things worse in this country

How can we be discussing major issues like this and you come here with this nonsense?

It's people like you pastor Adeboye was advising girls about the other day still you won't change.

who did this to you?


Okay sir...sorry about that.
Let the person I mentioned quote me.
Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by 49cents(m): 7:45am On Aug 05, 2016
baby124:
When we said the rate should be controlled. The *economists* came and were screaming about unrealistic things. Now it's on a free fall, you people are crying. You never see anything yet.


What do you mean by control?

Value is determined by supply an demand and not by control not by any armchair control

How would N199 pegging affect the price in a black market? If not only making round tripping extremely tempting?

FG has made 130 naira per dollar more since the devaluation

FG needs more to encourage more export, backward integration, buying Naija....


Instead the NASS bought Prados rather than Innosson jeeps and you wonder why dollar is on free fall!!!!

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