Naira Now N166 To $1. Can Someone Tell Me What Is Happening? - Business (4) - Nairaland
Nairaland Forum / Nairaland / General / Business / Naira Now N166 To $1. Can Someone Tell Me What Is Happening? (17546 Views)
It’s N209 To $1 As Appetite For Dollars Falls / Devaluation: Naira Now N183 To The Dollar / Naira Now 172 Naira To A Dollar. Why? (2) (3) (4)
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| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by morpheus24: 2:03pm On Jul 14, 2011 |
Speculators and financiers have been predicting that there has been a downward pressure on the Naira to adjust to its is true value regardless of what the CBN governor has argued as reasons for holding the naira stable The market will adjust itself no matter how hard you try to regulate round inflation which is technically at 12%. Its supply demand principles. Basic economics See report at 2:40 mins [flash=400,200] https://www.youtube.com/watch?v=HY-PTzytHPo&feature=channel_video_title[/flash] |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by liquid7: 2:08pm On Jul 14, 2011 |
why are people screaming against the US ? Naira is down against all major currency.It is at 268 to the £. The market is deciding the value of the naira. We should look into different factors like how much naira is in circulation etc. |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by grandstar(m): 2:17pm On Jul 14, 2011 |
The basic problem is that Sanusi is liniting sales to the bureau de change operators. That is creating artificial scarcity. A lot of forex from the bureau de change find the way to us the common people. |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by grandstar(m): 2:26pm On Jul 14, 2011 |
No one cares if greedy politicians are carting away the money. Poeple don't want to pat 166naira for a $1. Some of the monies the BDC were buying was getting to the the ordinary people. Not all is carted away. |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by PurestBoy(m): 2:35pm On Jul 14, 2011 |
[size=16pt]GOOD NEWS, I PRAY IT KEEP RISING IN JESUS NAME.[/size] |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by mbulela: 2:50pm On Jul 14, 2011 |
Jesus does not endorse prayers birthed in greed. |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by hackney(m): 2:54pm On Jul 14, 2011 |
It should go up to £1 to N1000. That useless currency that nobody outside nigeria knows about. Of what use is the naira outside nigeria? other countries prefer being paid in oil and other foreign stocks and not naira. Bloated rotten country. The ghana cedis is currently valued around the dollar value. |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by catso(m): 3:28pm On Jul 14, 2011 |
I got to the mallam this afternoon to buy dollars and was so shocked. I checked the x-change rate online and it was 152.305 naira. This is terrible, |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by jodeci(m): 3:33pm On Jul 14, 2011 |
catso: How much exactly where u told please |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by chines4(m): 5:21pm On Jul 14, 2011 |
Our CBN Governor is all talks no action. IMF can't dictate to Nigeria, now what is happening?, Is Naira devalued or not?  |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by buster2364(m): 6:59pm On Jul 14, 2011 |
Nigerians are the architect of their misfortune we only rely on oil as our means of foreign exchange. all hands must be on deck to kickstart manufacturing and agriculture , Electrical power is key in driving this nation forward. if not, we will still be dipping our hands into our reserve to stabilise our currency. sanusi can do little in this case, lets not waste time to crucify the man.  |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Decryptor(m): 7:00pm On Jul 14, 2011 |
When i said in the past that Soludo was a man with a good agenda for the Nigerian economy and that Sanusi came to destroy Nigeria, some charlatans here in NL attacked me saying that my judgment was based on tribal and ethnic sentiments. Oya, e don set o! Where are all those who were pouring encomiums on Sanusi? i hope u are all enjoying the jolly economic ride. mtchewwwwwwwwwwwwwww!!!!!!!!!!!! |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by ifebosco: 7:06pm On Jul 14, 2011 |
@1025 thanks for your inside talk |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by freepeople: 7:17pm On Jul 14, 2011 |
Nigerian Naira is fast threading the path of Zimbabwean dollar |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by stunna2(m): 7:19pm On Jul 14, 2011 |
every where na complain complain complain 4 naija; haba!!! if you manufacture anything, if your money low for value that means you can produce stuff at cheap rate and sell to people with high value money! stop blaming ur government for everything! my $ has more value than the US$ but i dont hear them blame us for shiit yet! na wao my people. panic everywhere about everything, no back bone?? if your million million university graduates starts using their heads and knowledge acquired to create jobs rather than driving okada and complaining of no job, no job, yall will be way ahead! The US stress about the Value of the Chinese currency not the naira, because a lot of the goods DUMPED in the US are from China but oil from naija is priced in US$ so why would they try to control your unimportant currency?? THEY ACTUALLY WANT THE CHINESE CURRENCY TO RISE IN VALUE! NIGERIA IS NOT THE 51ST STATE OF THE UNITED STATES, YOU ARE NOT AS IMPORTANT TO AMERICA AS YOU LIKE TO BELIEVE, PUUULLEEESSSSSEEEE!! |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by morpheus24: 7:43pm On Jul 14, 2011 |
$tunna: hehehehehehehe! Bros abeg if I see you I go buy you one big stout for that one. |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Amenyin: 7:44pm On Jul 14, 2011 |
Its a shame on Nigeria!!We must watch it carefully otherwise we are heading for a disaster soonest.Boko Haram in Bornu State,Kidnappings,killings,assisination in other part of the country, plus Okonjo Iweala silently implemening IMF stunts!!!! May God help Nigeria |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Sunofgod(m): 7:50pm On Jul 14, 2011 |
Nice - So whilst the 'Dollar' is being devalued, the 'Naira' is being devalued more. If anything the 'Naira' should be strengthening against the 'Dollar'. How much of that 'Shi.tt' currency has been printed in the last few years? Mallam Sanusi - What are you up to and who do you really work for? Nigeria's doomed - How many 'Zillions' of Naira will we need to repay the billions of Dollars we owe? We might as well just hand Nigeria over to the west now. |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by werepeLeri: 8:21pm On Jul 14, 2011 |
igbo boy: and how much is a mere 6k or one million naira? |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by stunna2(m): 9:09pm On Jul 14, 2011 |
morpheus24: THANK YOU MY GUY, ! you r very kind! and by the way, i believe The Matrix is the best Sci-fi flick of all times and i say it at the theaters 3 times and have watched it like a miollion times more over the years! NIGERIANS ARE LIVING INSIDE THE MATRIX AND I HOPE ONEDAY SOMEONE THERE WILL WAKE UP AND BE THEIR MORPHEUS!! Bless |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by manny4life(m): 9:25pm On Jul 14, 2011 |
liquid7: You forget so quickly that there are factors affecting that same market stability; factors that can be controlled using different price mechanisms, Well this should not come as a surprise, in fact I support the Naira rising so long we are manufacturing, I'm fine. |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Ignatio(m): 9:46pm On Jul 14, 2011 |
This will affect my purchase on Amazon.  |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by stiyke(m): 9:47pm On Jul 14, 2011 |
Nigerians are so clueless. You produce nothing but only crude oil. Then you import every thing from toothpick to refined oil, yet you want ur currency to be stable. As said above, living in a matrix. If for anything sanusi is doing nigerian manufacturers a favour, which is what nigeria needs. |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by fernado56: 10:20pm On Jul 14, 2011 |
HELLO NL, I was at first bank today and the lady told me that CBN as stopped the foreign exchange buying buying and selling, so its left for the mallam to fix price |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by dplordx(m): 10:35pm On Jul 14, 2011 |
Yawnnnnnn! Like you will all die if it changes for its true useless value. I always believe N480 isnt even worth a USD. It should be $1 to N500 Abeg make dem devalue am more make boys dey smile more jare  |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by muyoto: 10:51pm On Jul 14, 2011 |
$tunna: best analysis so far |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by yemivictor: 10:56pm On Jul 14, 2011 |
stiyke: You are on point right there. We are simply not a producing nation. Economy boosters such as the real sector, stable power, infrastructure e.t.c. are non-existent. Even crude oil is sold in dollars and bought back in dollars! Not to mention the fraudulent activities of the NNPC, FG & other parties as far as this oil is concerned. I mean, i don't need an A.O. Lawal to tell me that if we refined the bulk of our oil and sold in Naira, our economy would be the better for it. And i also don't get why our refineries can't/won't work in 2011. Even the Naira currency is printed abroad (yes, a good chunk of it) and of course the printing costs are in forex. In summary, many things which are foundational & fundamental to the growth of any nation have to be corrected. I don't think it's just the abokis that are responsible for the devaluation of the Naira, if at all they are. And somebody needs to tell the NLC that each time they fight for an upward review of the minimum wage, it does the naira more harm than good in the final analysis. |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by ibedun: 7:20am On Jul 15, 2011 |
Failed state or Failed people. The birthrate continues astronomically in this mayhem of a nation. |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by bighead1(m): 9:06am On Jul 15, 2011 |
naija is on the fall only god can help us |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 11:20am On Jul 15, 2011 |
grandstar:You are the only one that has made sense here, the others are just blabbing rubbish and displaying their obnoxious ignorance shimmering in the sun. The official rate of the naira to dollar is still N150 even lower according to today vanguard. Meaning if you can get the banks to sell directly to you, you won't be buying at such exorbitant rate or better still wait for it to be released to the market for it to reduce in price if you are not in a hurry to buy. If you are in a hurry to buy, go to the western union dept. of banks and buy directly from people who just received dollars at under N155. I personally buy from banks and will neva have to face the aboki, I only sell to them. |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by stagger: 1:30pm On Jul 15, 2011 |
blink182: And which typical Nigerian mumu who just received Western Union will sell to you in the bank at under N155 when he can just go to the nearest mallam and sell at N165? The way some people argue here is baffling. |
| Re: Naira Now N166 To $1. Can Someone Tell Me What Is Happening? by Nobody: 2:29pm On Jul 15, 2011 |
stagger:You will be amazed at the possibility, do you think I didn't put that into consideration. Not everyone in naija knows what is happening |
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