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Naira Sinks To 530 Against Dollar, Pound Hits N720 - Business (4) - Nairaland

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Pound To Naira: Can You Believe This Tiny Coin Is N780? (Pictures) / Naira Sinks To 530 Against Dollar, Pound Hits N720 / Naira Sinks To 530 Against Dollar, Pound Hits N720 (2) (3) (4)

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Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by obailala(m): 2:22pm On Sep 03, 2021
thebosstrevor1:


So it buhari controlling oil prices.

Every time oil price falls, it always affect Nigeria, even if Jesus was president, we will still be in the same crisis
The oil price excuse has since expired. Oil has been selling steady above $60/bbl for a while now; in fact, oil price is over $70 today, so the oil price excuse in invalid.

Likewise the Covid lockdown pandemic excuse which was viable last year 2020 is no longer valid today.

The fact that the Naira still continues its freefall under current circumstances is inexcusable, and an indictment of the current administration. No excuse works again for the criminal incompetence of this administration.

2 Likes 1 Share

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by joshmee4real(m): 2:23pm On Sep 03, 2021
What have we done as citizens of Nigeria to deserve this?

1 Like

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by 36STATES: 2:24pm On Sep 03, 2021
adioolayi:
How is it possible for Emefiele to sleep with this abysmal economic policies crashing under his nose

Does he sleep and wake to this realities and call himself fulfilled

If he doesn't have the right strategy and solutions..is it not better for him to quit

This is just shameful!!!

What of mere commissioner Osubande with his trademoni?

1 Like

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by slimghost(m): 2:25pm On Sep 03, 2021
thebosstrevor1:
I know some people are happy that the dollar keeps appreciating against the naira.

If the dollar keep appreciating that means the cost of goods and services will increase, which will make life more difficult for you.

If you like keep buying dollar and saving it in dollars or usdt, as long as exchange rates are not stable, you are losing and also losing even when you convert your saved dollar back to naira, inflation will devalued it.
Are you mentally unstable kid?. Address the issue on ground and stop writing slow nonsense.
Our economy cannot attract Fx because we are a consuming economy. What exactly do we export in Nigeria?. What do we produce and export in exchange for fx?.
What has your useless president done about this in 6 years? What’s the road map? Blueprint?.

2 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by BigRocky: 2:25pm On Sep 03, 2021
Jolite:
Mind you, Abacha did nothing bad to Nigeria. Buhari the worst in history.
.

Abacha was a dictator,when abacha died while was Nigerians celebrating?

Buhari government is worst but abacha is not a saint either...
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Alvin212(m): 2:26pm On Sep 03, 2021
Queenslander:
It will definitely get to a N1,000 before the walking dead leaves office!!


I want to see your panyint

1 Like

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Angelfrost(m): 2:27pm On Sep 03, 2021
Ray07:
The other praise singer is yet to be seen on threads concerning his lord and Savior Buhari angry

I keep saying, Nigeria don't have a leader. Make people just device ways how them go survive o.

You mean the other court jester forming allegiance to a certain EPL London club, who never let's us rest in Football threads??!... Forget that guy!!! grin

1 Like

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Awoleesu(m): 2:27pm On Sep 03, 2021
inderhappy:
It will still hit 600 750 before the end of this yr, next time when Nigeria hear change they'll think twice

2 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by iretinyeee(f): 2:29pm On Sep 03, 2021
BigRocky:
Things keep getting worst..

Buhari is the worst thing after abacha that have happen to Nigerians.
Abacha is better buhari.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by BigRocky: 2:30pm On Sep 03, 2021
Tooreda:


Buhari is actually worse than Abacha. May calamity befall Buhari and his supporters


This was what I wanted to write bro ..

Have made amendment to the post.

Buhari is actually worst.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Nobody: 2:30pm On Sep 03, 2021
thebosstrevor1:
I know some people are happy that the dollar keeps appreciating against the naira.

If the dollar keep appreciating that means the cost of goods and services will increase, which will make life more difficult for you.

If you like keep buying dollar and saving it in dollars or usdt, as long as exchange rates are not stable, you are losing and also losing even when you convert your saved dollar back to naira, inflation will devalued it.
are you trying to threaten us or what? Tell your lifeless boss that since he's failed woefully at fixing this country, he should return this country to the state he met it before he assumed office!

2 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Limassol(m): 2:30pm On Sep 03, 2021
oliverwrites:
Digital marketers who earn in USD/GBP won't feel the impact but I really feel for those who are salary earners.

Life in this country is becoming more and more difficult.
they will due to inflation. Just to illustrate my point, In 2010, 1$ is around 140 naira: that would get a mudu of beans, in 2021 a $ can't get you the same - beans is now 900. Inflation is destructive!

3 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by BigRocky: 2:32pm On Sep 03, 2021
iretinyeee:
Abacha is better buhari.

Have made amendment to the comment.

Thanks
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Selfmotivated: 2:32pm On Sep 03, 2021
They sit back and watch, until it gets to 1000naira to $1
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by ogododo: 2:32pm On Sep 03, 2021
obailala:

The oil price excuse has since expired. Oil has been selling steady above $60/bbl for a while now; in fact, oil price is over $70 today, so the oil price excuse in invalid.

Likewise the Covid lockdown pandemic excuse which was viable last year 2020 is no longer valid today.

The fact that the Naira still continues its freefall under current circumstances is inexcusable, and an indictment of the current administration. No excuse works again for the criminal incompetence of this administration.
No be lie, come to think am, difference between dollar and pounds no pass N100 for last government, but now whooping N200!
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Jolite(m): 2:33pm On Sep 03, 2021
BigRocky:
.

Abacha was a dictator,when abacha died while was Nigerians celebrating?

Buhari government is worst but abacha is not a saint either...
Military far different from the so called Democracy especially the dullard Buhari type. Understand this.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Nobody: 2:33pm On Sep 03, 2021
What Buhari cannot destroy does not exist

1 Like

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Nobody: 2:36pm On Sep 03, 2021
As if the Zoogeria currency can have it another way undecided undecided undecided undecided undecided undecided undecided

. It will just be going down until it discovers water and ultimately oil.
grin grin grin grin grin grin grin grin

1 Like

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by oliverwrites: 2:37pm On Sep 03, 2021
Limassol:
they will due to inflation. Just to illustrate my point, In 2010, 1$ is around 140 naira: that would get a mudu of beans, in 2021 a $ can't get you the same - beans is now 900. Inflation is destructive!
I agree with you but thing is earning in dollars gives you an advantage, even if it is little.

However, even though I earn in USD, my siblings don't, my friends don't and won't be selfish.

Buhari has been a let down.

2 Likes 1 Share

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by edmaraja: 2:39pm On Sep 03, 2021
hisexcellency34:
And Buhari is still retaining that dullard called Emefiele
Buhari himself is the number one dullard
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Queenslander(f): 2:39pm On Sep 03, 2021
Alvin212:



I want to see your panyint

Huh?

What's that?
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by BigRocky: 2:39pm On Sep 03, 2021
Jolite:
Military far different from the so called Democracy especially the dullard Buhari type. Understand this.

Got your point bro...

1 Like 1 Share

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Reference(m): 2:40pm On Sep 03, 2021
thebosstrevor1:


Every country borrow, the main issue is what are you borrowing for?

For infrastructures or to pay salaries

The disadvantage is that it is the citizens that will have to pay for the debts through increase in tax for the duration of the debt payment

So what has the so called infrastructure done for the economy or the people in practical terms.
When sane people in sane societies say investment in infrastructure to spur economic improvement they mean the infrastructure their people and their companies build and their industries supply materials and components to.

Here you borrow to give foreign companies employing foreign workers supplying foreign products from foreign factories to build stuff your economy cannot afford and you expect your impoverished citizenry that have not benefited from the industry of infrastructure to repay these loans. Is that not foolishness or madness at the least??

Oga. All those 'SUKUK' roads are already going bad and we have not started to scratch the surface of interest repayment thoughtless of the principals....

Just brace for impact. Your weakening Naira never see anything yet.

1 Like

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Alvin212(m): 2:40pm On Sep 03, 2021
Queenslander:

Huh?

What's that?


I want to drink your pant water
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by adebwalex(m): 2:41pm On Sep 03, 2021
Oh my God. Who have we offend?? The Nation is really Bleeding....
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by IMAliyu(m): 2:41pm On Sep 03, 2021
I expect to see naira at 700 in the short term.
But hopefully it will settle at 600 when everything blows over.
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by musicwriter(m): 2:43pm On Sep 03, 2021
bigpicture001:
... dangote should do and finish his refinery and save us all

That man and company are part of the problem. He has thousand companies scooping millions of dollars everyday at official rate from the little one coming in at the CBN. So much round-triping going on. Forget about the refinery for now. It could be sold before it even begin.

3 Likes 1 Share

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by bjdon: 2:44pm On Sep 03, 2021
Niara is in free fall and Buhari is busy looking for 60 year old grazing routes, that are not even legal anymore.

I hope in 2023 Nigerians will think twice before voting O. Just because somebody suddenly wears suit and bow-tie does not make them competent. Start looking deeply at all the potential candidates. Are any of them profering detailed plans to overcome our various challenges? 2023 is just around the corner, less than 2 years. Shine your eyes this time!

1 Like

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Willie2015: 2:45pm On Sep 03, 2021
thebosstrevor1:
I know some people are happy that the dollar keeps appreciating against the naira.

If the dollar keep appreciating that means the cost of goods and services will increase, which will make life more difficult for you.

If you like keep buying dollar and saving it in dollars or usdt, as long as exchange rates are not stable, you are losing and also losing even when you convert your saved dollar back to naira, inflation will devalued it.

U need to change your mindset...
There is absolutely nothin wrong about....
keepin your savings in dollars...
The next level is to invest in bonds, crypto, stocks and ETFs in dollars etc etc...
It is part of money management...
Both actions are necessary to preserve the value of your wealth...
Also streams of Income via dividends, interest and capital appreciation on stocks...
will help you to maintain your purchasing power...
With this, you dont need to worry about local inflation and cost of good & services...
Cos you earn in dollars...
Its basic Personal Finance 101...
U siddon dey look and wait for the CBN...
to implement the right policies to help the Naira recover against the dollar...
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Reference(m): 2:48pm On Sep 03, 2021
oliverwrites:
Digital marketers who earn in USD/GBP won't feel the impact but I really feel for those who are salary earners.

Life in this country is becoming more and more difficult.

Oga. It is not what an individual can afford that matters but what happens around him.
Stop thinking like a herdsman and wake up.
Sensible citizens in sensible nations desire corporate prosperity not individualism because they recognise the dangers of socio-economic instability.
What is the function or attraction of wealth in the midst of poverty induced vices, illiteracy and regression.

2 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Bigsunny01(m): 2:48pm On Sep 03, 2021
BigRocky:
Things keep getting worst..

Buhari is the worst thing before abacha that has happen to Nigerians.


De country is sinking every day by day and nobody is even saying anything.

CBN governor dat one is a mumu man, he can't even talk or say anything concerning de situation dat is ravaging de country.. What a country

We don't have leaders is dis country, now I know dat Mr President is truly dead, u don't deserve to be my president, bcoz if truly u are still alive and things are falling apart u will rise and fight for ur dear country

I call on u all to resign if u are not competent enough to lead de country to de right part

Ooh my Nigeria I weep for u cry

4 Likes

Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Arnold1(m): 2:49pm On Sep 03, 2021
joyandfaith:


Lagos-ibadan rail.
Borrowing is not good for any economy.

Reckless, mismanaged borrowing is not good for an economy

2 Likes 1 Share

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