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Nairaland Forum / Nairaland / General / Business / Naira Falls To ₦540 Per Dollar (26735 Views)
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Re: Naira Falls To ₦540 Per Dollar by emonis88: 4:36pm On Sep 09, 2021 |
The funny thing is that our govt doesn't care, they r just there looking like clueless people, while our economy goes to blazes, e no go better for anyone wey follow vote these people into power, hunger in d land n our govt is dancing awilo upndan. |
Re: Naira Falls To ₦540 Per Dollar by alizma: 4:37pm On Sep 09, 2021 |
The very day the CBN announced the suspension BDC was the day I started shouting of the imminent explosion. Unless something is done immediately, this is just little to what is to come. Our financial sector is not yet that clean for us to take out the BDC, what I expect the CBN to do is to give the same role of the BDC to banks and watch the two of them compete to bring the price down but instead, the CBN did the unexpected. |
Re: Naira Falls To ₦540 Per Dollar by Angelfrost(m): 4:38pm On Sep 09, 2021 |
Afriqan: My point exactly.... I knew you won't be able to come up with one meaningful one. Thanks for trying. |
Re: Naira Falls To ₦540 Per Dollar by macaranta(m): 4:38pm On Sep 09, 2021 |
Is it Cbn rate or parallel market? |
Re: Naira Falls To ₦540 Per Dollar by bjtinz: 4:41pm On Sep 09, 2021 |
goody234: @bolded, I think that's one of the biggest drivers here, and a vicious cycle already in play. Everyone is trying to get dollars just to put in their dorm accounts, which in turn puts more pressure on the naira, which in turn increases the desperate scramble for ever elusive $$$, which in turn. . . sigh 2 Likes |
Re: Naira Falls To ₦540 Per Dollar by SaintUlot: 4:41pm On Sep 09, 2021 |
TMTR: That's one of the serious problems facing this country, self-centeredness. You earn in dollars, good, what about having empathy for a lot of other poor Nigerians who doesn't have the privilege to earn in USD to cushion the effect of inflation.Self-centeredness is what brought Nigeria to its current situation. Doctors are on strike, the privileged ones/politicians ll say:i can travel out with my families to get treated abroad. ASUU is on strike, they will say: i don't give a damn, all my children are studying abroad. Insecurity is on the rise, they will say: I will jakpa, others can die, i don't care. Am not attacking you, i am just saying this generally, so that Nigerians can embrace empathy and selflessness. We should do away with that mentality of so far i and my family are okay, others can go to hell. 7 Likes |
Re: Naira Falls To ₦540 Per Dollar by hotseat: 4:42pm On Sep 09, 2021 |
A FERVENT PRAYER O God! We pray that You speedup the hands of time to the much awaited 2023 to obliterate from our memory this goldbrick of a government. We pray that a Buhari of any sort never mount the leadership saddle of this country ever again. From all available indices, the bubulized fellow only came to steal, kill and destroy Nigeria. God Almighty, You've never let this country down before and we have confidence in You that you will make a way for poor, hapless and helpless Nigerians who are bearing the brunt of this unprecedented maladministration. Thank You God for answering our prayers! Amen and amen!!! |
Re: Naira Falls To ₦540 Per Dollar by JobMagnetNg: 4:43pm On Sep 09, 2021 |
Ok |
Re: Naira Falls To ₦540 Per Dollar by maxkia(m): 4:45pm On Sep 09, 2021 |
Dialpad: They are not Intelligent Folks. Trial & Error CBN 1 Like |
Re: Naira Falls To ₦540 Per Dollar by bigtt76(f): 4:46pm On Sep 09, 2021 |
Exactly... Very annoying really, they keep contradicting themselves abhosts: |
Re: Naira Falls To ₦540 Per Dollar by htdot: 4:47pm On Sep 09, 2021 |
Modrov:Dumb! Where do you want the oil to rise to again... last time i check, it was 72 dollar per barrel. This is even bigger than what obj use to build the economic... Buhari is corrupt and he and is cahoots are siphoning the oil dollar .... 2 Likes |
Re: Naira Falls To ₦540 Per Dollar by Oju4190: 4:47pm On Sep 09, 2021 |
Emefiele Ur Father |
Re: Naira Falls To ₦540 Per Dollar by Nobody: 4:48pm On Sep 09, 2021 |
htdot: I actually was making fun and being critical of the goverment by saying they are waiting for oil to rise again |
Re: Naira Falls To ₦540 Per Dollar by bigtt76(f): 4:49pm On Sep 09, 2021 |
Very true. Because of difficulties in accessing the dollars locally, the price keeps shooting up whereas the official rate remain stable. The more these news go out the more people get agitated and demand increases leading to the artificial spike Dialpad: |
Re: Naira Falls To ₦540 Per Dollar by Brushstrokes20: 4:49pm On Sep 09, 2021 |
Dammmmmmmmnnnn it! The redundant coupist is hell bent on sinking the shithole beyond redemption Nig urgently needs a SANE AND SOUND LEADER! |
Re: Naira Falls To ₦540 Per Dollar by Ochecanny2(m): 4:49pm On Sep 09, 2021 |
TMTR:Sir, please i want to earn in dollars too, please sir show me the way i wanna make it in life sir |
Re: Naira Falls To ₦540 Per Dollar by Nobody: 4:53pm On Sep 09, 2021 |
Angelfrost: LoL, is Amaechi not one of them? But really Buhari's administration lacks technocrats... |
Re: Naira Falls To ₦540 Per Dollar by TMTR: 4:55pm On Sep 09, 2021 |
SaintUlot: I am not a politician, neither am I occupying any public position, so channel this your grievances to those who were elected and whose job it is to prevent stuffs like this Okay |
Re: Naira Falls To ₦540 Per Dollar by defcon4: 4:56pm On Sep 09, 2021 |
Dialpad: Increasing the spending limit would be a good idea, but CBN don't even release money to banks. Even with form M and Q 2 months go pass person no still get dollar. On every $1,000 USD person dey loose #130,000 just imagine. Following the trend we are heading to #800 to $ come 2023 1 Like |
Re: Naira Falls To ₦540 Per Dollar by poiZon: 4:58pm On Sep 09, 2021 |
lonecatt:God forbid... I think any politician that comes with INTEGRITY tag should be stone to dead at that moment. Obj didnt say he has integrity, yaradua and gej, but atleast we were better off than this thing that sang integrity like a parrot. 1 Like |
Re: Naira Falls To ₦540 Per Dollar by themanderon: 5:02pm On Sep 09, 2021 |
lonecatt: 1000 naira is the target. It will surely get there at this rate of collapse. 1 Like |
Re: Naira Falls To ₦540 Per Dollar by htdot: 5:03pm On Sep 09, 2021 |
Modrov:Sorry for reacting that way... every body body they hot... buhari done spoil everything. 2 Likes |
Re: Naira Falls To ₦540 Per Dollar by poiZon: 5:03pm On Sep 09, 2021 |
Okortor:Speechless as a financial analyst... Am shocked at ur speachlessness... Were u sleeping all these while.. 1 Like |
Re: Naira Falls To ₦540 Per Dollar by vRendoh(m): 5:04pm On Sep 09, 2021 |
When dem said 1 to 1 exchange rate now we know it is the North arithmetic to mean $1 to #1000. E dey pain me gangan |
Re: Naira Falls To ₦540 Per Dollar by poiZon: 5:05pm On Sep 09, 2021 |
InaNla:Corrections. Buhari is an evil man with demonic intentions... Whats good about buhari.. |
Re: Naira Falls To ₦540 Per Dollar by deleo16(m): 5:05pm On Sep 09, 2021 |
Re: Naira Falls To ₦540 Per Dollar by InaNla(f): 5:07pm On Sep 09, 2021 |
poiZon: He is good in bloodletting. Buari came to Steal, kill & destroy. |
Re: Naira Falls To ₦540 Per Dollar by goody234: 5:08pm On Sep 09, 2021 |
nextstep: That is why i highlighted the human factor what they did was sound, but they should have introduced the policies unannounced |
Re: Naira Falls To ₦540 Per Dollar by Nikkganc08(m): 5:11pm On Sep 09, 2021 |
TMTR: Assuming u get 1$ and was paid 540naira instead of 185 that was obtainable in 2011, You'll still spend it on those things that u spent the on in 2011. For instance in 2011, let's say that with 185 naira ( 1$ ), u bought: 1 litre of Kerosene @ 65naira, and 12 cups of rice @120naira In 2021 , ur 540 naira will still buy : 1litre of kerosene @260 . But sadly, the remaining 280 can't get u up to 12 cups of garri agian. So... Stop rejoicing cos u earn in dollars. I also earn in dollars . Once dollar goes up, prices of everything goes up. 5 Likes |
Re: Naira Falls To ₦540 Per Dollar by Calitoscassius(m): 5:11pm On Sep 09, 2021 |
lonecatt:Errr.. Buhari is the best nigerian president ever. i cannot wait for 1$ to exchange at 600. This means when i send £10000 to nigeria i will be looking at 8 million naira in my bank.. enough to buy me hundreds acres of lands. |
Re: Naira Falls To ₦540 Per Dollar by Nobody: 5:13pm On Sep 09, 2021 |
htdot: No problem. I should have been clearer |
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