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Nairaland Forum / Nairaland / General / Business / Naira Sinks To 530 Against Dollar, Pound Hits N720 (30300 Views)
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Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by roddy15: 9:54am On Sep 04, 2021 |
Nigerians prefer talking and gossiping than taking actions, as their country is destroyed by few individuals. |
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Newboss(m): 9:54am On Sep 04, 2021 |
thebosstrevor1: What you see in the market currently has nothing to do with 530 to $1. Even 500 to $1 inflation has not kicked in, talk less of 530 to $1 that just happened less than a week ago. You need to keep up with changes in price to see that effect and how long it takes to kick in. It will take at least one full week for you to see the effect of any change in exchange rate |
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Nobody: 11:09am On Sep 04, 2021 |
Newboss: The point is simple, the price of goods and services will increase. |
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Newboss(m): 11:45am On Sep 04, 2021 |
thebosstrevor1: The point is simple, it will take weeks for prices to increase. Hence, enough time to capitalise on the exchange rate change. |
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Nobody: 12:59pm On Sep 04, 2021 |
Newboss: I have never heard this pattern of thought in my entire life. At the end the price of goods and services increases |
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Newboss(m): 2:45pm On Sep 04, 2021 |
thebosstrevor1: You're missing the point. You will have enough time to enjoy the value you just received from the change in exchange rate, before inflation eventually wipes off that value. That means, you will get richer and have enough time to spend or invest that increase in wealth before the expected inflation touches down. Prices do not just change overnight/spontaneously. The forces that change the price take days to build momentum. Any observant person will see it coming. Exchange rate change of today, CANNOT result in price of goods changing tomorrow. It takes time for price to respond. |
Re: Naira Sinks To 530 Against Dollar, Pound Hits N720 by Jolite(m): 4:16pm On Dec 02, 2022 |
BigRocky:Are you sure if buhari dies the celebration won't be more than Christmas? |
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