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Again Naira Falls, Sells At N465 Per Dollar - Business (2) - Nairaland

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Naira Falls Towards N400-$1 As Electioneering Resumes / Naira Falls As Dollar Scarcity Worsens / Unbelievable!!! Naira Falls To N485/$1, N600/£1 (2) (3) (4)

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Re: Again Naira Falls, Sells At N465 Per Dollar by fineboynl(m): 8:11am On Mar 04, 2017
the money they are pumping into the economy is unsustainable. how can you be pumping what you don't have. just if only the CBN can pump 1billion per day. 1$ will be 1N
Re: Again Naira Falls, Sells At N465 Per Dollar by Nobody: 8:12am On Mar 04, 2017
The sadist medical tourist must be back!...that dude don't give a damn!!
Re: Again Naira Falls, Sells At N465 Per Dollar by michoim(m): 8:19am On Mar 04, 2017
Where is ignorant Ben Bruce that was asking Osibanjo to teach his master of his forex magic?
Re: Again Naira Falls, Sells At N465 Per Dollar by Clone2020(m): 8:33am On Mar 04, 2017
If you are in the US or have relatives in the US trying to send money to naija, I will exchange the funds at 400/$, simply deposit into my US bank account and receive instant funding into your Nigerian account. Don't bother with western Union and co, they exchange at 375/$ with fees and the exchange rate drops to around 345/$.

See my contact below..
Re: Again Naira Falls, Sells At N465 Per Dollar by Nobody: 8:36am On Mar 04, 2017
BUTCHCASSIDY:
wjhn people were jubilating I told someone to wait lets see. Its too early cosI know say better tin no dey last for this country


So how can I make money
Anyone wanna buy ££ cheesy
Re: Again Naira Falls, Sells At N465 Per Dollar by Nobody: 8:36am On Mar 04, 2017
fineboynl:
the money they are pumping into the economy is unsustainable. how can you be pumping what you don't have. just if only the CBN can pump 1billion per day. 1$ will be 1N

Let them pump it grin, there's going to be lesser demand for oil in the coming years (every one is going renewable, electric), It's inevitable and it's going to fall.

We're going to redefine recession very soon if we don't find anything tangible to export besides oil
Re: Again Naira Falls, Sells At N465 Per Dollar by timilehin95(m): 8:48am On Mar 04, 2017
what are they talking about? dis doesn't look like physics nd chemistry to me
Re: Again Naira Falls, Sells At N465 Per Dollar by Reference(m): 8:58am On Mar 04, 2017
As long as they continue to 'pump money in', a.k.a currency subsidy thus creating an artificially good looking economy and fuelling corruptive cartels and rent seekers, the solution is no where in sight. The fundamentals remain the same, we donot earn enough foreign exchange. The solution is simple. Float the naira to end speculation and attract the dollar out of foreign banks and private vaults. Anything else is just taking panadol for cancer. Whatever the CBN has in its treasury people are ready to buy all and put in their vaults waiting for the CBN to give up its grand standing. When it depletes its reserves then the game begins. Foolish people. Poor people subsidising consumption....psst.
Re: Again Naira Falls, Sells At N465 Per Dollar by buffalowings: 9:08am On Mar 04, 2017
I said it
the naira gain was artificial.

these guy were just pumping raw dollars into the economy

just playing with the reserve
anyone can do that.

no actual change in fiscal policy

nl currency traders, don't panic
hold on to your dollars
everything will be back to "normal"
Re: Again Naira Falls, Sells At N465 Per Dollar by erico2k2(m): 9:12am On Mar 04, 2017
Realdeals:
Only mediocres believe the flux, forex market is about demand and supply. Even with increase govt. forex earnings, I still support they continue with forex supply tightening, we Nigerians still have a lot to learn about being productive.
This would be same as digging one hole to fill the other hole
Re: Again Naira Falls, Sells At N465 Per Dollar by erico2k2(m): 9:16am On Mar 04, 2017
Reference:
As long as they continue to 'pump money in', a.k.a currency subsidy thus creating an artificially good looking economy and fuelling corruptive cartels and rent seekers, the solution is no where in sight. The fundamentals remain the same, we donot earn enough foreign exchange. The solution is simple. Float the naira to end speculation and attract the dollar out of foreign banks and private vaults. Anything else is just taking panadol for cancer. Whatever the CBN has in its treasury people are ready to buy all and put in their vaults waiting for the CBN to give up its grand standing. When it depletes its reserves then the game begins. Foolish people. Poor people subsidising consumption....psst.
They wont understand this.the available $$$$$had already gone . They are in volts already . Mo day we will get a new rate
Re: Again Naira Falls, Sells At N465 Per Dollar by erico2k2(m): 9:17am On Mar 04, 2017
Bumbae1:



So how can I make money
Anyone wanna buy ££ cheesy
No Aboki @ ur end ? ?
Re: Again Naira Falls, Sells At N465 Per Dollar by LockDown69(m): 9:17am On Mar 04, 2017
We produce and export little or nothing and yet we want the Naira to appreciate against the dollar, what type of sorcery is that, the earlier we wake up from our slumber the better for us.

1 Like

Re: Again Naira Falls, Sells At N465 Per Dollar by erico2k2(m): 9:19am On Mar 04, 2017
buffalowings:
I said it
the naira gain was artificial.

these guy were just pumping raw dollars into the economy

just playing with the reserve
anyone can do that.

no actual change in fiscal policy

nl currency traders, don't panic
hold on to your dollars
everything will be back to "normal"
So now the reserve has Ben deplated this time not shared eheh .which way 9ja . This round of $$$ hip won't be funny citizens of 9ja should get ready for the worse .
Re: Again Naira Falls, Sells At N465 Per Dollar by Nobody: 9:20am On Mar 04, 2017
JustinSlayer69:
This is very disappointing news.

What just breaks my heart is fellow Nigerians who gloat whenever Naira is depreciated.

They celebrate the fall of the Naira, proffer no solutions, yet cry out when there's market inflation.

Never have I seen where any white celebrates the fall of their own currency because they hate a political candidate. No wonder they feel a black man's IQ is much lower.

Effects of diversification won't be seen till 3-5 years. Even if we do that, do you realize that poor state of power supply would stifle industrialisation? BUT WE STILL HAVE TO DO IT ASAP.

We are in big trouble.

Welcome to Nigeria, were its citizens most especially those on the eastern part love to see the country in demise. Infact they are only happy about bad news
Re: Again Naira Falls, Sells At N465 Per Dollar by emajoe: 9:20am On Mar 04, 2017
No be una plan to go bring Buhari back?
You nevachichuntin.
Re: Again Naira Falls, Sells At N465 Per Dollar by Nobody: 9:22am On Mar 04, 2017
buffalowings:
I said it the naira gain was artificial.
these guy were just pumping raw dollars into the economy
just playing with the reserve anyone can do that.
no actual change in fiscal policy
nl currency traders, don't panic hold on to your dollars everything will be back to "normal"
Keep hoarding, your END IS NEAR
Re: Again Naira Falls, Sells At N465 Per Dollar by Nobody: 9:24am On Mar 04, 2017
erico2k2:

No Aboki @ ur end ? ?
Dem dey UK? For where never seen
Re: Again Naira Falls, Sells At N465 Per Dollar by Nobody: 9:26am On Mar 04, 2017
Jiang:


Welcome to Nigeria, were its citizens most especially those on the eastern part love to see the country in demise. Infact they are only happy about bad news

Thank you sir for your comment. People keep clamouring for a free float of Naira. If this is done, don't be shocked if 1$ = 2000 #. Then we would starve and the same people praying for currency crash would intensify their wailing.

1 Like

Re: Again Naira Falls, Sells At N465 Per Dollar by ashala(m): 9:30am On Mar 04, 2017
ourema:
Production and export are the keys to boosting the value of the naira. Any other way lead us to going round and round

So true

1 Like

Re: Again Naira Falls, Sells At N465 Per Dollar by chukwuwike2ny(m): 9:31am On Mar 04, 2017
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Re: Again Naira Falls, Sells At N465 Per Dollar by 989900: 10:26am On Mar 04, 2017
Speculators won't stop at anything.

A friend bought at N442 yesterday.
Re: Again Naira Falls, Sells At N465 Per Dollar by goldedprince: 10:30am On Mar 04, 2017
waiting for when it will hit 1000
Re: Again Naira Falls, Sells At N465 Per Dollar by bizzibodi(m): 10:50am On Mar 04, 2017
This is a short term measure until we curb some of our import,diversify d economy,start processing raw materials into finish goods for import,make electricity to work,grow & eat only homegrown wheat,rice,fish etc.we are not going anywhere.

1 Like

Re: Again Naira Falls, Sells At N465 Per Dollar by Holiday0299(m): 11:06am On Mar 04, 2017
It's the dollar that's fluctuating, not naira. The dollar depreciated last week and every was cursing Buhari. Now that the dollar is appreciating, ...for those of us who use bitcoin, you'll bear record.
Re: Again Naira Falls, Sells At N465 Per Dollar by Nobody: 11:07am On Mar 04, 2017
Flets:
It will take so many months to correct the damage caused by Buhari.
Buhari needs to leave the scene entirely for Nigeria to progress. No sane investor with his dollars will come close to Nigeria even in Buhari's sick state. The allocation of our forex to northern elites is still happening even in buhari's vegetable status.

Pumping in forex into the market by Osibanjo is only a knee jerk reaction which does not threaten speculation. Only a free market supported by FDI inflow, peace in the ND, sustained export and free money movements without fear of EFCC will restore the naira and all these can't happen in a short term.

But for a start, Buhari has got to leave the scene voluntarily or involuntarily

When u understand how fx intricasies work.You will thank GMB
Re: Again Naira Falls, Sells At N465 Per Dollar by Nobody: 11:29am On Mar 04, 2017
As the price has come down, there would be a surge in demand hence the current rate
Re: Again Naira Falls, Sells At N465 Per Dollar by soldierdollar(m): 12:07pm On Mar 04, 2017
Almaiga:


Quit blaming Osibanjo and Chanel your blames to your Biafran brother, the CBN governor Godwin Emefele, who seems to be the worst CBN governor Nigeria ever had. His cluelessness made him dish out the wrong policies that force the naira to keep falling and the economy...................................

But a Yoloba is the head of the economic team
Re: Again Naira Falls, Sells At N465 Per Dollar by erico2k2(m): 12:27pm On Mar 04, 2017
JustinSlayer69:
This is very disappointing news.

What just breaks my heart is fellow Nigerians who gloat whenever Naira is depreciated.

They celebrate the fall of the Naira, proffer no solutions, yet cry out when there's market inflation.

Never have I seen where any white celebrates the fall of their own currency because they hate a political candidate. No wonder they feel a black man's IQ is much lower.

Effects of diversification won't be seen till 3-5 years. Even if we do that, do you realize that poor state of power supply would stifle industrialisation? BUT WE STILL HAVE TO DO IT ASAP.

We are in big trouble.
Don come on here and rant who told you whites don't celibrate depreciation of thier currency ? As we speak the manufacturing sector in England are celebrating low value of the ££cos itears thier export went up so they are actually making more money and thier goods and services are competitive in world market now.
China nko oo ? You want me to go on??

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