Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever - Business (5)

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Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever - Business (5) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever (27531 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 Qc1(m): 7:48am On Aug 05, 2016

erico2k2:

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

^^^

I fear you oooo grin

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by SirAweezy(m): 7:50am On Aug 05, 2016

HungerBAD:
This is the Black Market rate as stated on the top right side.

Never trust any news from the Black Market,because 9 out of 10 times,it is the Currency Dealers who increase the real rate like this,so they can make a quick kill.

To the OP. What is the Official rate?let us work with that.

So you don't know black market dictate the Nigeria currency Fx, where are you from? Okay now go and buy at the official rate now...

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by erico2k2(m): 7:52am On Aug 05, 2016

Qc1:

^^^

I fear you oooo

I fear U back grin

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by haibe(m): 7:53am On Aug 05, 2016

drnairalov:

ok so you get the millions but the bargaining power is all that matters .reason fam!! with all the millions you can count in the zimbabwe currency it is still worthless

lmao nigga are u for real? Isnt it obvious he was being sarcastic?

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by onyxo76(m): 7:54am On Aug 05, 2016

Please how much does the rate go for if I get dollars through western union from us

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Nobody: 7:59am On Aug 05, 2016

But PMB say him go make $1 = N1.....
abi him actually won say $1 = N1k
maybe him dull brain forget d letter k

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by july66: 8:03am On Aug 05, 2016

benzics:
[img]http://i.onthe.io/vllkyt6ljuucku1og.b0ab86c3.jpg[/img]

Source: https://www.naij.com/916521-breaking-naira-crashes-lowest-rate-ever-checkout-new-rate.html

They promised that the exchange rate will be N1 to a US dollar but the dollar is being exchanged for N400. What a paradox. The Naira is fast loosing value like the Zimbabwean dollar. Bad time to do international business. Next time they promise, they expect us to believe them. Nigerian politicians will promise anything to get votes.

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by haibe(m): 8:04am On Aug 05, 2016

Nig4Greatness:
Are we cursed in this country??..what's our obsession with forex?.do we now spend Dollar now??.while other countries are developing their countries,we are lamenting over what won't solve our economic problems.funny enough,those who have never seen how dollar look like or its colour are the ones shouting forex the most.God will heal our mentality from over reliance on foreign goods.

this is the height of ignorance. U mumu pass anything, its not by force to comment if u dont understand the mechanisms of forex and how it is important to every country

3 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by dallyemmy: 8:06am On Aug 05, 2016

The number one doom for the economy was to allow these criminals to sell dollar in the first place. These are market speculators and Criminals! What is their indexes based on. What type of softwares are they using to arrive at their rates. It is not done like this in the rest of the world. Go to Dubai the people check their systems before you get the current exchange rate for any currency whatsoever. why is our different?

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by abbeyty(m): 8:11am On Aug 05, 2016

na wa ohh, this is getting too much..who did we offend ? The rate this money in going down e go soon discover its own oil. i pray Naira wont be competing with Zimbabwe dollar very soon. and this yo baba abi wetin den dey call am ? it is sai baba ? promised us N1to $1

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by I888(m): 8:14am On Aug 05, 2016

InvertedHammer:
/
Almost time to cut ties with anything Nigeria including nairaland.

\

why,sir?

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by InvertedHammer: 8:15am On Aug 05, 2016

Qc1:

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

Then you are screwed.

If you have a house and a reliable car, you should be alright.
But if you intend to rent, the first two years is never a problem. It is the renewal for the subsequent years that a lot of people tend to have problem with.

I will advise that you stay put in Canada until the coast is clear. Right now, Nigeria is drifting apart in no particular direction. The air of uncertainty is a dreamkiller.
\

2 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by InvertedHammer: 8:19am On Aug 05, 2016

I888:
why,sir?

/
Too many depressing stories about Nigeria have negative psychological effects.

It sure feels like identifying with a losing team.
\

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Safari29: 8:19am On Aug 05, 2016

this is intimidating.

Buhari we love you and stand by you. please do something oh

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Ruchidera(f): 8:21am On Aug 05, 2016

InvertedHammer:

/
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.
\

THe fact remains you're still a Nigerian and will one day come back to meet the poo except you want to become a vagabon which I don't wish you.
I still remembered vividly the way you campaigned for Buhari embarassed

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by onatisi(m): 8:22am On Aug 05, 2016

erico2k2:

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.

the economy will soon be completely dollarized, companies will be demanding you make ur payments in dollars or high naira rate. Then imported items will become luxury for the rich,
but come to think of it,where is the yuan the cbn governor was dancing all about for then?

3 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Nobody: 8:22am 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
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

No!

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Nobody: 8:23am On Aug 05, 2016

SIRTee15:

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.

lol abeg I no wan talk this morning.

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by onatisi(m): 8:23am On Aug 05, 2016

Safari29:
this is intimidating.

Buhari we love you and stand by you. please do something oh

you and who love buhari

Your eyes never clear,very soon when fuel is increased to 200N your eyes go clear

3 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by mattsvibes: 8:27am On Aug 05, 2016

baba God pls help us

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by 2sexynet: 8:30am On Aug 05, 2016

grossintel:
I know so many and I won't mention it here if you need answers keep asking. What is 24m in 30 years, you obviously don't know some people still earn above 1 million monthly paid employment with other tasty benefits.

some people do not know, using 30 years as a yardstick to amassing wealth really shows the kind of mind he has, when some boys are raking in 15-20 million naira pure profit per year from doing business.

2 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Safari29: 8:31am On Aug 05, 2016

onatisi:
you and who love buhari
Your eyes never clear,very soon when fuel is increased to 200N your eyes go clear

well i cant speak for you. i love buhari
and we all know the cause of all this abeg, he is not a magician, and still better than jonathan as its stand.

all is well

2 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Nobody: 8:35am On Aug 05, 2016

Naira just died

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by 2sexynet: 8:36am On Aug 05, 2016

Ligxy:

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

That money will give you a super bungalow

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by erico2k2(m): 8:39am On Aug 05, 2016

2sexynet:
some people do not know, using 30 years as a yardstick to amassing wealth really shows the kind of mind he has, when some boys are raking in 15-20 million naira pure profit per year from doing business.

if you where kind enough to know where we started this convo you would have realized we meant salary earners(Average Salary) NOT BIZ
garrit?
now tell me any average job that you can save physical ammount

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by GoldCircle: 8:42am On Aug 05, 2016

[quote author=onatisi post=48199209][/quote]

I doff my hat!

You are almost always spot on!

1 Like

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by 2sexynet: 8:45am On Aug 05, 2016

Qc1:

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

You can. If you have some internet skills, freelance. If you love writing, I could connect you to a Nigerian who earns as much as $5000-10,000 per month writing for companies around the world, most those contents you see on forbes, huffpost, inc are paid for as much as $100/ article. He is currently doing a free "hold me by the hand and show me behind the scene" training on facebook group. Many Nigerians are now turning to internet business, especially freelancing.

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by endove(f): 8:49am On Aug 05, 2016

Even rice now na big man's food...
Bag of rice is #20000 Even local rice is now #16000 Naija abeg which way?

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by 2sexynet: 8:52am On Aug 05, 2016

InvertedHammer:

/
Too many depressing stories about Nigeria have negative psychological effects.

It sure feels like identifying with a losing team.
\

True. It does and Nairaland seem to be awashed with so much ugly stories these days,they take so much fun in pushing bad topics to front page, accident, car crushing, woman burnt... I don't even open such threads when it became obvious that the trend has come to stay.

3 Likes

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Jombojombo(m): 8:54am On Aug 05, 2016

HungerBAD:
This is the Black Market rate as stated on the top right side.

Never trust any news from the Black Market,because 9 out of 10 times,it is the Currency Dealers who increase the real rate like this,so they can make a quick kill.

To the OP. What is the Official rate?let us work with that.

Zombie o zombie

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Nobody: 8:56am On Aug 05, 2016

Nigerians never see anything yet. You Nigerians made the worst mistake in modern history. What do you expect someone like Buhari to do for you in this age? For your information, the name Nigeria is a mockery and a joke in other countries now

Re: Naira Crashes To N400/$1 At Parallel Market, Lowest Rate Ever by Slimszy: 9:09am On Aug 05, 2016

Cyrsed country... Never proud for once being a Nigerian... Official rate as at yesterday is 309 - $1 official rate

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