Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,584 members, 7,955,146 topics. Date: Saturday, 21 September 2024 at 05:55 PM |
Nairaland Forum / Nairaland / General / Business / Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam (7274 Views)
4,485,170 Passengers Passed Through Nigerian Airports In Q2 2019 – NBS / Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget / Dollar For Sale @ 485 Per Dollar (2) (3) (4)
Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by FxMallam: 7:46pm On Dec 14, 2016 |
LAGOS Dec 14 (FxMallam) The Nigerian Naira on Wednesday closed flat against the dollar at the parallel market ending at N485 where it had traded since last week. The local currency appears to have found equilibrium even as oil prices rise following OPEC output cuts and the nation's reserves continue to inch up. According to President Muhammadu Buhari, Nigeria will be expecting its 2017 deficit to rise to 2.36 trillion naira ($7.75 billion), as the government tries to drag Africa's biggest economy out of recession with a budget that plans record spending. Buhari also said the budget was based on an exchange rate of N305 to the dollar and a projected oil output of 2.2 million barrels per day at an assumed price of $42.5 dollars per barrel. At last check, oil was trading in the mid $50s. The Naira also maintained its previous day's values against the Euro and the British Pound closing at N515 and N605 respectively. The year 2016 has seen the local currency depreciated the most in its 43-year history, opening at 197 in January at the official market and 265 at the parallel market. Read more at http://www.fxmallam.com/news/naira-firm-485-buhari-presents-record-budget/ 2 Likes |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by pointstores(m): 9:59pm On Dec 14, 2016 |
nawa |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by linusbnn(m): 7:02am On Dec 15, 2016 |
We dey look |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by Slimpotter(m): 7:02am On Dec 15, 2016 |
we hope for better |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by TooNoisy(f): 7:02am On Dec 15, 2016 |
Why present a budget you cannot even fund. 2.36trillion deficit, where will he get the money from? And the assumption is that we will produce 2.2million barrels per day is simply too optimistic. When last did we produce 2.2million barrels everyday for one year? Anyway I think they got the $42 benchmark right, that sounds very reasonable. I wish them the very best. 8 Likes 1 Share |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by chrisifeanyi: 7:02am On Dec 15, 2016 |
Baba one chance 8 Likes |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by berrystunn(m): 7:02am On Dec 15, 2016 |
APC till the end of time... Buhari till the end of days.. 2 Likes |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by delikay4luv: 7:03am On Dec 15, 2016 |
We dey watch and if the naira gain or lose just 50 kobo, they will publish it. Government of newspapers. 19 Likes |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by maximunimpact(m): 7:03am On Dec 15, 2016 |
#500/$ on my mind....... |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by harykeh(f): 7:03am On Dec 15, 2016 |
God please intervene |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by sassiemyk: 7:03am On Dec 15, 2016 |
We want 1$ to 1Naira as promised by. Angry People's Congress. 3 Likes |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by Ekpekus(m): 7:04am On Dec 15, 2016 |
Not good enough joor 1 Like |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by KauntantJoyce(f): 7:05am On Dec 15, 2016 |
OP, hw much them pay u to finish MMM for here? |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by dollaflow(m): 7:05am On Dec 15, 2016 |
Hmmm |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by sassiemyk: 7:05am On Dec 15, 2016 |
We want 1$ to 1Naira as promised by Angry People's Congress. 4 Likes |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by deebrain(m): 7:06am On Dec 15, 2016 |
This government has indeed, been firm in failure. 1 Like |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by gratiaeo(m): 7:06am On Dec 15, 2016 |
Only zombie will celebrate dollar at 485 2 Likes |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by berrystunn(m): 7:07am On Dec 15, 2016 |
F |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by SillyMods: 7:07am On Dec 15, 2016 |
TooNoisy:You're too noisy indeed! 1 Like |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by austin2all: 7:08am On Dec 15, 2016 |
YEYE DEY SMELL 1 Like |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by onatisi(m): 7:08am On Dec 15, 2016 |
TooNoisy:Using 305 as fx rate is not such a good idea. I think they should have based their fx rate on a more realistic figure . 1 Like |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by firstclassmumu: 7:09am On Dec 15, 2016 |
Lolz hahahaha |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by Realdeals(m): 7:09am On Dec 15, 2016 |
Naira will not return to N200/$, a Government that want to discourage importation will not allow it. 1 Like |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by 5starmilitant: 7:09am On Dec 15, 2016 |
Buhari economics is genocide. 1 Like |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by Promismike(m): 7:10am On Dec 15, 2016 |
Dollar firm at 485 is now an achievment! Clueless government. 3 Likes 1 Share |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by Abalado(f): 7:10am On Dec 15, 2016 |
buhari and apc are confused,pls oga buhari go and resign o,haba.unti nigeria colapse ni? 1 Like |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by grandstar(m): 7:12am On Dec 15, 2016 |
TooNoisy: Funny enough, if they allow the currency depreciate to its true level, say 400 at least, that may cover the deficit. Buhari's economics is lamentable 1 Like |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by mastermaestro(m): 7:12am On Dec 15, 2016 |
You have the shame to broadcast this nonsense? Dollar firm at N485? This government is despicable! 2 Likes |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by grandstar(m): 7:14am On Dec 15, 2016 |
onatisi: 99% of the economic problem faced today is due to the nonsensical exchange rate. Sanusi said it has not worked anywhere in the world. 4 Likes |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by martineverest(m): 7:15am On Dec 15, 2016 |
t |
Re: Naira Firm At 485 As Buhari Presents Record Budget - Fxmallam by lilprinze: 7:15am On Dec 15, 2016 |
A |
NPDC Targets 500,000 Barrels Of Crude Oil Per Day Production / Best Way To Send Money Home From UK? / Ogun State Produced The Highest Tons Of Solid Minerals In 2017 – NBS
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 24 |