Dollar Hits All-time Low, Crosses N1,500 At Official Market - Business (2)

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Dollar Hits All-time Low, Crosses N1,500 At Official Market - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Dollar Hits All-time Low, Crosses N1,500 At Official Market (26464 Views)

Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market / Naira Hits All-Time Low Of ₦1,152/$1 In Black Market / Investor & Exporter Window Crashes to All Time Low At N788.42/$1 (2) (3) (4)

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Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by sofeo(m): 1:08pm On Feb 13

It's well.

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by NGArmyTerrorist: 1:08pm On Feb 13

You gonna reap! Just what sow! You gonna reap! just what you sow grin

7 Likes 1 Share

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Jmk9292(m): 1:08pm On Feb 13

Can it ever get better?

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by EdiskyHarry: 1:08pm On Feb 13

Sad... Everyday moving from bad to worse.

2 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Karleb(m): 1:08pm On Feb 13

"Is it Tinubu that is selling the dollar?
Are we spending dollar in Nigeria?
"
grin

I have no affiliation whatsoever with this devilish government.

The post is an irony

2 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Karleb(m): 1:09pm On Feb 13

NGArmyTerrorist:
You gonna reap! Just what sow! You gonna reap! just what you sow

You cannot plant stone and harvest yam tuber. Never! angry

2 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Itiskdg121(m): 1:10pm On Feb 13

This is an unfortunate news.
I wish have super powers to make things right.

So sad

1 Like

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by adonainana: 1:10pm On Feb 13

I believe the reason all interventions are failing is there was a report about 2 weeks ago that there is no expected revenue from oil from the next 6 months because NIGERIA HAD BORROWED it

I don’t know who was reckless to reveal such but I think this time around there is no actual real revenue in site to curb the falling naira

When they summoned the mini CBN at the senate too, he started blaming the fall of the dollar on foreign students . Really foreign students resuming school in February made the naira fall ?

Nigeria only exports crude oil which of course is sold at the international market in dollars

Also the cbn recently stopped ways and means to the FG until its previous ways and means had be repaid back.

So we are in big trouble officially

Diversify the economy you people did not hear

Diversify the economy leave crude oil alone

Grow cocoa

Grow bananas

Carrots

Grow cassava which can be processed into sorbitol, ethanol , starch, flour etc

There are so many countries on this planet that have NO OIL RESERVES and have more money than Nigeria

Panama, Uruguay, Cambodia , Singapore, Hong Kong, Switzerland

These countries are not Nigeria mate and they don’t have one single oil well

So who get hear make them hear

11 Likes 4 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by kingxsamz(m): 1:10pm On Feb 13

The old vegetable called Tinubu is after our lives, but brainwashed Fuuls are too blind to see it.

4 Likes 1 Share

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by iLegendd(m): 1:11pm On Feb 13

I pity those making all their money or earning their salary in Naira only.

I don't pity any poor man who has more than 4 kids.

8 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by BluntCrazeMan: 1:12pm On Feb 13

Such a sweet expensive valentine's gift.

2 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by CyberWolf: 1:12pm On Feb 13

abhosts:
Who exactly is benefiting from an ever falling Naira? What kind of cruelty is this? In 2019, a friend of mine based in the US invested $200,000(N72,000,000 at that time) into Nigerian real estate. Now his investment is valued at about N200,000,000($135,000). Despite the fact that his naira investment tripled in value, it was still not worth it from a dollar perspective. He is now regretting his decision because he would have been better off just leaving his $200k in the bank when you consider it is now worth 32 percent less. This is an example of foreign investor they claim to be courting.

No reasonable foreign investor will invest in a country where there currency is unstable. Nigeria is only good for investment if you’re making money in Nigeria. Any other thing is like pouring money into a bottomless hole.

3 Likes 3 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by merits(m): 1:13pm On Feb 13

ogododo:

https://dailytrust.com/dollar-hits-all-time-low-crosses-n1500-at-official-market/

We shall break through one day

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by onuman: 1:14pm On Feb 13

Tinubu's political alliance of 2014 is the killer to Nigerians.
Where's the head of a man who struggled for more than 12 years beginning 1996 for political restructuring of Nigeria, but in 2014, formed a political alliance with the leader of the group that acutely resists political restructuring of Nigeria?

4 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by themanderon: 1:14pm On Feb 13

Soon the naira will be at 5000 to a dollar like play like play and you will need about 20k to buy a medium sized loaf of bread all because of our foolishness. We see light yet we deliberately choose darkness and complain when darkness sinks it's fangs into our flesh.
They stole political power and ran away with it now they don't know what to do with it anymore. How foolish can one be?

13 Likes 1 Share

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by CyberWolf: 1:15pm On Feb 13

Karleb:
Is it Tinubu that is selling the dollar?
Are we spending dollar in Nigeria?

Your Tinubu is the president, the buck stops at his table. His economic policy is what brought the country to its current state and the way it’s going, it doesn’t look good.

9 Likes 2 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by MasterShifu010(m): 1:16pm On Feb 13

Politics and capitalism are two different things

1 Like

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Konquest: 1:17pm On Feb 13

ogododo:

https://dailytrust.com/dollar-hits-all-time-low-crosses-n1500-at-official-market/

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by 7brigade: 1:17pm On Feb 13

SuperEagles:
Emefiele is competful as we can see

What is dis distractions on a sensitive matter
Wut concern anambra mother ...

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by ABC101FF: 1:18pm On Feb 13

Airheads making policy decisions. This is what you get.

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Klington: 1:18pm On Feb 13

SuperEagles:
Make God help us before mother finish selling sons to feed.

Stack illiterate.

6 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by drehdinho(m): 1:18pm On Feb 13

Kpartners:
“I do not want Peter Obi to ever become the president of Nigeria again. I know he has a saviour complex thinking he can still salvage Nigeria.

They are going to leave a carcass of a nation for him to come fix when they have plundered it to a wasteland. Then blame him for not waving a magic wand and fixing sh!t overnight.

Peter Obi warned everybody the last election was a f!ght for the survival of the country...Agbado people labelled him a divisive b!got.

Peter Obi should actually retire with his beautiful Aunty Maggie and let who wants to p£rish...p£rish! 🤷🏾‍♂️”

I doubt if you people shouting Obi are aware he’s one of the corrupt leaders. You people should stop fighting the wrong cause. You won’t listen.

Your immediate eastern governors are they not stealing your resources right now ? Is the same thing not happening across the country regardless of the tribe ?

So what’s the issue exactly with you idiots? Can’t you apply sense to know this is not a tribal war. Our common enemy is the leader that fails to deliver.

Free yourself from tribal and mental slavery.

3 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by reiddecuti: 1:18pm On Feb 13

The only solution on sight is that it will get to a threshold where everyone (government officials, political leaders, market speculators, business men, oversea students, medical tourists, money launders...) will be overwhelmed.

Untill then, let's enjoy the mess while it last.

BTW, it seems dollars will be hitting #2000 per $1 pretty soon than expected.

Nigeria is really in a big mess.

2 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by xandy84: 1:18pm On Feb 13

Even Nigerians abroad would not even think of investing back home. I finished my housing project at the cost of $95k and a year later, it's a very bad investment cos as $$ appreciate against naira, the project is beginning to look like white elephant project but the saving grace is I did not borrow to finance it and I never intend to recoup my investment thru rental.
Consistent depreciation of naira is turn off for investors and it wil worsen our unemployment issue for real.

abhosts:
Who exactly is benefiting from an ever falling Naira? What kind of cruelty is this? In 2019, a friend of mine based in the US invested $200,000(N72,000,000 at that time) into Nigerian real estate. Now his investment is valued at about N200,000,000($135,000). Despite the fact that his naira investment tripled in value, it was still not worth it from a dollar perspective. He is now regretting his decision because he would have been better off just leaving his $200k in the bank when you consider it is now worth 32 percent less. This is an example of foreign investor they claim to be courting.

8 Likes 1 Share

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Nostring: 1:19pm On Feb 13

IduNaOba:
Tinubu must complete his 8 years o
Then the north can have power again.
Let no igbo man near that seat o
Even me sef won't support Peter Obi.

The south West must finish this 8 years.

some of u low self esteem,unimportant Igbos Sha like dey cap nonsense dey feel yourself..like anyone give a damn about u or what u do😴

1 Like

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by BXNX: 1:19pm On Feb 13

who we offend oh God

2 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by INTEGRITYA1(m): 1:19pm On Feb 13

[quote author=abhosts post=128433293][b]Who exactly is benefiting from an ever falling Naira? What kind of cruelty is this? In 2019, a friend of mine based in the US invested $200,000(N72,000,000 at that time) into Nigerian real estate. Now his investment is valued at about N200,000,000($135,000). Despite the fact that his naira investment tripled in value, it was still not worth it from a dollar perspective. He is now regretting his decision because he would have been better off just leaving his $200k in the bank when you consider it is now worth 32 percent less. This is an example of foreign investor they claim to be courting.

Must he convert it back to dollar rate?

Let the person keep enjoying is Naira appreciation.

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by o123456789(m): 1:20pm On Feb 13

Since January 31 2023 I got a Dollar prepaid debit card for my everyday use because I can't risk taking the original debit card tied to my dollar account because of security, and today I am reaping the benefit of what I did a year ago, I urge everyone to begin to deposit in dollars and spend in Naira, with that your finance is bulletproof against the rise of dollars.
Your life will be very sweet if you can earn in dollars now... Update and upgrade yourself to get a remote job that can earn you USD or GBP today, every minute your salary/wage will continue to increase as Naira falls.

3 Likes 1 Share

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by CatchMeIfUCanMO: 1:20pm On Feb 13

Misleading topic,

It should have been Naira hit all time low, crosses 1500 mark at official market.

9 Likes 1 Share

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by valentineuwakwe(m): 1:21pm On Feb 13

We might be heading the way of Venezuela or Zimbabwe in terms of financial crisis of our currency and the economy if urgent steps is not taken now.....
What has happen to all our financial and economist experts?
I wept for my beloved nation in times like this..
May God help us at this time of our nation! Amen.

1 Like

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by reubenobi(m): 1:21pm On Feb 13

obataokenwa:
Its really unfortunate. The compound I was living during my NYSC in 2011 in Lagos. Just remembered and called was gisting with some of them still there. Just reminiscing on some old stories and they all complained how things were bad. I said okay drop account make I dash dem small money. I changed £95 for 180,000 naira not quite long. See prayer/blessing Upandan like I've done miracle for them.

After that, I was just weak. I started thinking about the widows without no one to help and all. I became emotionally down. If the easier foods we have are so expensive now, what of the ones imported?

God help us even though the election was stolen.

abeg, no forget me.

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by BreconHills(m): 1:21pm On Feb 13

Kukutenla:
Ah!!
Official market is now worse than parallel market
Which kind wahala be dis?
So who is funding the parallel market for it to have such stability?

It will help liquidity as funds can flow through banking system at a near to Street price.

1 Like

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