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Nairaland Forum / Nairaland / General / Politics / How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is (1773 Views)
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How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by Boleyndynasty2(f): 12:06am On Oct 01, 2016 |
@lalasticlala, over to you The Naira hit yet another all time low on Thursday after it sold for as low as N490/$1 in some sections of the black market. The local currency has been on a steady decline since the start of the month following a repertoire of bad policies by the Central Bank of Nigeria. http://nairametrics.com/this-analysis-explains-how-the-exchange-rate-could-be-n7521-by-xmas-if-things-remain-as-is/ 1 Like |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by nezer83: 12:18am On Oct 01, 2016 |
God save the Naira!!! |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by idupaul: 12:20am On Oct 01, 2016 |
It will continue to decline as long as BUHARI is president . 5 Likes 1 Share |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by LoveMachine(m): 4:12am On Oct 01, 2016 |
Don't cheer when pipelines are bombed and then cry when our currency plummets. 8% of our gdp is oil but it is over 90% of our forex. This is what happens when the oil stops flowing. They wanted to cripple the economy well congrats to the morons in the creek. They have succeeded in killing thousands of black people by virtue of their actions. 3 Likes |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by trapQ: 4:15am On Oct 01, 2016 |
Buhari is a curse. Don't even blame this on crude oil price or sabotage. Buhari single handedly plunged Nigeria into recession by his senseless policies. 2 Likes |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by trapQ: 4:16am On Oct 01, 2016 |
What kind of lie is this? LoveMachine: 5 Likes |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by seunlayi(m): 4:35am On Oct 01, 2016 |
I feel like giving the finance minister a deadly blow with my hand 1 Like |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by sheyguy: 4:47am On Oct 01, 2016 |
idupaul:No. It will decline as long as you and I consume foreign goods and service than we export. The practice before now was to use the large volume of oil $ to subsidize dollar rate. 1 Like |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by sheyguy: 4:48am On Oct 01, 2016 |
LoveMachine:Most people can't understand the harsh truth you wrote up there. 2 Likes |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by LoveMachine(m): 5:06am On Oct 01, 2016 |
sheyguy: Can't or won't? Nigerians aren't stupid. We are just at present allowing sentiment and politics of hate to cloud our better judgement. It's not rocket science what I've posted. But it gives too much credit to Buhari and puts responsibility on the militants. How every could they allow such a thing to occur? SO instead let's blame all mishaps on APC. Did you stub your toe? Buhari! Drop your last chin chin? Tinubu! Get a flat tire? OSINBAJO! Burn your mouth with hot soup? You guessed it ATIKU! AMAECHI! FASHOLA! UTOMI! SARAKI! DOGARA! AHHHHH! See it's always their fault. I know it makes me feel much better. I was told as a child "those who don't listen shall feel." Right now we have collectively chosen not to listen so we are feeling the pinch. trapQ: I suppose you know better than gov't officials. Since you have decided to come at me sideways I'll take some time and set you straight. http://www.dailytrust.com.ng/news/general/osinbajo-niger-delta-militancy-caused-recession/163141.html Udoma, who said inflation stood at 17.1 percent as at July 2016, put food inflation at 15.8 percent, adding that core inflation reached 16.9 percent in the same month. Any further questions? |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by Larryfest(m): 5:48am On Oct 01, 2016 |
sheyguy:That's just the anthem this useless government has been singing for over a year now but i really want to know that year in which we never consumed foreign goods 3 Likes |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by otukpo(f): 5:54am On Oct 01, 2016 |
I is very possible. It already sold for 490naira as at yesterday. |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by chibuzorAbia: 6:03am On Oct 01, 2016 |
Larryfest: Just the anthem? You come from my famous part of the country. If you like go and bring Jesus to rule over Nigeria, as long as the oil price is down and there is no dollar (to continue with our senseless dead brain importation of rubbish) our economic plight would remain. You must have believed our useless aunty from the world bank who used forged statistics to convince you that you we the largest economy in Africa. 1 Like |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by GoggleB(m): 6:58am On Oct 01, 2016 |
If it's happen I teleport to USA to go get dollars before it becomes #1 to $1 as how fresident has promised 1 Like |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by mrvitalis(m): 7:05am On Oct 01, 2016 |
Atleast it will be cheaper to produce most things here than to import.. . Nothing like cheap import again Every bad thing has an advantage |
Re: How The Exchange Rate Could Be N752/$1 By Xmas, If Things Remain As Is by sheyguy: 5:38pm On Oct 01, 2016 |
Larryfest:The difference between the other years and the Buhari years/last of Jonathan year is that there was dollar shortage to help sooth the pains of rising dollar rate. The strategy of your nation when there was excess earnings was to sell the excess dollar at a cheaper rate than what it would have gone for. It helped Importers keep prices of goods down, and you & I were happier then. Right now there is no Dollar to subsidize forex. We didn't invest during the years of excesses. It may interest you to know that we spent over $200B between 2002 - 2014 in subsidizing dollars rate. It takes money to make money and right now there is no money to invest. The pressure of recurrent bills like workers salaries won't allow what's coming in to be utilized in industry. |
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