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Nairaland Forum / Nairaland / General / Business / Naira Crashes To Record Low At Official Market (48244 Views)
Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market / Naira Falls To Record Low At I&E Window, Trades ₦993/$ / Investor & Exporter Window Crashes to All Time Low At N788.42/$1 (2) (3) (4)
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Re: Naira Crashes To Record Low At Official Market by Angelfrost(m): 12:45pm On Oct 15, 2021 |
Olarewaju89: No He won't!!!... Most Nigerians are hypocritical, backward, myopic, wicked, and retrogressive... God has better nations and citizens to help and bless!!! Thank you!!! 5 Likes 1 Share |
Re: Naira Crashes To Record Low At Official Market by Angelfrost(m): 12:50pm On Oct 15, 2021 |
Didi2d: Well, I won't say they are doing it on purpose... They have sunk the nation so far down into the toilet that even if they wish to take her back up, the road back is so terribly torturous and perilous that they will simply prefer to keep covering the decaying and rotten wound. The next president will likely continue the cover up, while equally enriching himself and his inner circle till there is nothing left to cover or hide!!! Till there is no more nation left to loot and plunder!!!... Till the current dwarf becomes dead and buried!!! 1 Like |
Re: Naira Crashes To Record Low At Official Market by InvertedHammer: 1:00pm On Oct 15, 2021 |
/ The same set of vultures that gave you Buhari are packaging another skeleton for sale. As predicted, some ethnic jingoists are already supporting him. Tomorrow they will start blaming the politicians who make less than 0.0001% of the population for the predicament they find themselves / 1 Like |
Re: Naira Crashes To Record Low At Official Market by Tetrahedron(m): 1:15pm On Oct 15, 2021 |
Unity beggars how market |
Re: Naira Crashes To Record Low At Official Market by TheGoodJoe(m): 1:17pm On Oct 15, 2021 |
I laugh at those running this country. You can not impoverish the country and expect growth. The economy thrives when the people thrive. Stop elephant projects and start investing in the growth of small businesses. Stop useless policies that affect small businesses like, Ban Crypto, Ban Twitter, Tax the people to death. Any opportunity to clamp on the people. Until these elites get it, our currency will keep swinging jangle over. 1 Like |
Re: Naira Crashes To Record Low At Official Market by Nobody: 1:23pm On Oct 15, 2021 |
Northerners and their Backwardness Ruining everything in their path because they love backwards thinking more than progression 1 Like |
Re: Naira Crashes To Record Low At Official Market by Jaycee07(m): 1:37pm On Oct 15, 2021 |
Jaycee07: Jaycee07: treesun: I beg to differ Sir.Any nation that fails to shore up its foreign exchange through sustainable input like manufacturing, agro-export and other science and tech driven entities can only expect to see what we are currently witnessing. The dwindling gains of FOREX in Nigeria is very deserving. And let's face it, the true value of naira should be between 800 to 1000 naira /dollar if the CBN allows market forces and demand and supply to take its course. What do we produce? We are a consuming nation. This economic whirlwind that's blowing was caused. It could have been averted and I dare say that it can still be averted. A nation that sits on top of wealth, but can not harness it. While I was Nigeria, I worked as a controls engineer in deep offshore facilities for different multinational oil companies. You need to see how natural gas is burnt off to the atmosphere, and yet the government complains of its inability to generate sufficient electrical power to run factories, businesses and homes. A nation that produces one of the best grade of crude oil, but can't refine a barrel of it and still relying on a low grade, sulfur-prone substandard refined products . Please cut that. Over the years, successive government have failed to harness the gains made from crude oil export to diversify the economy.Buhari is no different. Stop blaming AbokiFx. And You and I have have been beneficiaries of their magnanimity.Does AbokiFx mint dollar? Have you ever asked yourself the cost of running the different arms of government in Nigeria. Nigeria is a very poor nation.Yes we are.Our natural, economic and human resources amounts to nothing when they are put to good use. 3 Likes |
Re: Naira Crashes To Record Low At Official Market by adecz: 1:39pm On Oct 15, 2021 |
I will hold unto my dollars $$ stash until the exchange hits 750 by late November this year...
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Re: Naira Crashes To Record Low At Official Market by Alawode01(m): 1:40pm On Oct 15, 2021 |
Naira will continue lost to dollar when the demand for the importations goos still increase ,when the for niara as against dollar is low in international trade, until Nigeria able to much on local production. |
Re: Naira Crashes To Record Low At Official Market by UncommonLogic: 1:43pm On Oct 15, 2021 |
Worst CBN Governor ever. "Quota system" useless dumb CBN Governor. |
Re: Naira Crashes To Record Low At Official Market by Jamesbiodun(m): 1:45pm On Oct 15, 2021 |
Hope By December it won't be 1115 to a dollar |
Re: Naira Crashes To Record Low At Official Market by terryalexmm1(m): 1:47pm On Oct 15, 2021 |
If you voted for buhari normal normal you suppose deh run mad at least 3 times a week. 1 Like |
Re: Naira Crashes To Record Low At Official Market by od501: 1:47pm On Oct 15, 2021 |
Re: Naira Crashes To Record Low At Official Market by Nobody: 1:47pm On Oct 15, 2021 |
Biafrarep: Absolute truth, Reason why MOST of the peeps who are receiving N800,000 upward per month as salary are now running away to Canada. They understands that even A Million Naira Is nothing to write home about again...... 2 Likes 1 Share |
Re: Naira Crashes To Record Low At Official Market by od501: 1:51pm On Oct 15, 2021 |
adecz: Excuse me sir, please ee...teh me ur house address, I wan teh u something. It takes time. 1 Like |
Re: Naira Crashes To Record Low At Official Market by UnabashedIPOB: 1:52pm On Oct 15, 2021 |
The value of the naira fell further by 1.68 per cent against the dollar at the official market on Thursday. This is is just the beginning. Your dirty, stinky and worthless Naira would eventually become 1000 Naira to a $1 in a very short-while. You are in a deep sh*t without even realizing it. keep up with your ONE LIEGERIA till it KILLS you! 1 Like |
Re: Naira Crashes To Record Low At Official Market by nedekid: 1:52pm On Oct 15, 2021 |
gabicon:Oga leave story. We were not producing anything when naira was 145 to $1. People will always find excuse to justify failure! Before it was that crude prices crashed and that justified the fall of naira. Now oild price has hit $80 and rising. Instead of naira to appreciate just as it happened with other oil producing countries that their currency took a hit eg Russia, ours is still loosing value! Now oil price has gone up, more excuses are being found. We export gas. The price has shot up the roof, still naira is depreciating and we still will find excuses. Who told you we produce nothing? Pls visit any major supermarket eg justrite superstore and look at the products there, from soap to plastics, ketchup, butter, to insecticides etc. We produce! Go all over Africa you see made in Nigeria products. In the US nko? I have a friend that exports tens of containers every month, from indomie to garri, dried fish, Stout, gulder, trophy etc to his depot in Maryland USA, from there sells wholesale for distribution. Dont let anybody give you that crap story that we produce nothing. Do you know how many containers of timber leaves this country everyday? See lots of countries don't have crude, gas etc and they are doing well. The problem is the head, you do not expect someone like Sai bab to run a country of 200m people and expect anything good. Give this current regime the economy of Qatar, USA, UK, Germany and in 2 years they will devastate the place and blame it on the "middleman", or that they export too much, or the economy was too rich and so had to become poor. 4 Likes |
Re: Naira Crashes To Record Low At Official Market by Nobody: 1:53pm On Oct 15, 2021 |
Angelfrost:
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Re: Naira Crashes To Record Low At Official Market by Systrom(m): 1:57pm On Oct 15, 2021 |
toluxa1:570 |
Re: Naira Crashes To Record Low At Official Market by adecz: 1:57pm On Oct 15, 2021 |
od501: ⏩When you enter Sambisa, go straight until you see one dogonyaro tree, turn left then right. ⏩⏩Continue forward until you reach one compound surrounded by dabino trees with a two guardsmen with face mask, armed with AK49s & wearing suicide belts. ⏩⏩⏩Ask for the treasurer. 1 Like |
Re: Naira Crashes To Record Low At Official Market by Adakintroy: 1:59pm On Oct 15, 2021 |
Biafrarep: Oga you not poor..go use water watch yansh. And eat once a day. Life na up and down. Real manager na time.of small not plenty |
Re: Naira Crashes To Record Low At Official Market by tenpipsperday: 2:00pm On Oct 15, 2021 |
Upon one naira to one dollar promise. Nigerians scammed themselves thinking they were scamming Jonathan. Meanwhile he just added another feather. 1 Like |
Re: Naira Crashes To Record Low At Official Market by od501: 2:03pm On Oct 15, 2021 |
adecz: Just say u live in Afghanistan, that would have saved us alot of time. I rather continue soaking ma garri abeg. 1 Like |
Re: Naira Crashes To Record Low At Official Market by stepaside2: 2:07pm On Oct 15, 2021 |
I see it differently. When abokifx was shut down, parallel market rate was N570-580 to the dollar. Since then, the slide has halted and gradually being reversed as parallel market rate is about N565 to the dollar today. The exchange rate at the NAFEX window is what is weakening and rightly so. It is as VP Osinbajo suggested - the official and parallel rates should collapse and meet in the middle somewhere, determined by market forces and the supply of forex to the economy will greatly improve. Patience guys, it is a matter of time |
Re: Naira Crashes To Record Low At Official Market by macof(m): 2:17pm On Oct 15, 2021 |
treesun:i noticed Bank websites are no longer giving the correct rates. Who is cbn trying to front for? When someone wants to buy dollars or pounds they’ll now say they don’t have foreign currency |
Re: Naira Crashes To Record Low At Official Market by adonainana: 2:17pm On Oct 15, 2021 |
stepaside2: Lol hope you haven’t realized or seen sentiments in the post you just posted “osibnajo said and markets started reacting, Aboki Fx, etc I pray you will be able to survive the next phase of inflation coming Nigeria’s way I really pray you do 1 Like |
Re: Naira Crashes To Record Low At Official Market by Yankee101: 2:18pm On Oct 15, 2021 |
Osinbajo |
Re: Naira Crashes To Record Low At Official Market by akinvest(m): 2:18pm On Oct 15, 2021 |
Can u imagine I changed #1,000 to 975cfa today @ Seme border � |
Re: Naira Crashes To Record Low At Official Market by Lexusgs430: 2:22pm On Oct 15, 2021 |
According to emefiele, let's collectively blame Abokifx........ |
Re: Naira Crashes To Record Low At Official Market by Feelings79: 2:33pm On Oct 15, 2021 |
nedekid:Thanks for bringing this up Sir.I understand very little economics and has low exposure as a rural dweller but I often don't understand why countries like Zambia, Malawi which exports next to nothing and are even landlocked would be better off in Forex than us, with all the gas,crude and foreign remittances.It can only be a consequence of economic mismanagement 3 Likes 1 Share |
Re: Naira Crashes To Record Low At Official Market by Enyimbamercedes: 2:51pm On Oct 15, 2021 |
Emefiele how far? Who will you ban this time?? |
Re: Naira Crashes To Record Low At Official Market by Tpharell: 2:51pm On Oct 15, 2021 |
Angelfrost:I mean, how hard is this to figure out? Except those delusional enough to still believe in the mirage of Nigeria's unity and redemption 1 Like |
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