Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,151,310 members, 7,811,921 topics. Date: Sunday, 28 April 2024 at 11:44 PM

Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation - Business (5) - Nairaland

Nairaland Forum / Nairaland / General / Business / Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation (16152 Views)

Naira Rises By 7.7% As Official Exchange Rate Close At ₦‎1,142/$ / Nigeria’s Official Exchange Rate To Hit N1,068/$ By 2025 – EIU / CBN Confirms N410.25/$ As New Official Exchange Rate (2) (3) (4)

(1) (2) (3) (4) (5) (6) (Reply) (Go Down)

Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by owagbeba: 7:49am On Feb 17
Originalsly:
What are we producing to earn foreign exchange to strengthen the Naira? Take it or leave it .... the Naira will continue to slide. If Tinubu resigns tomorrow.... nothing will change. Buhari took huge debts... and so has Tinubu. It is only now the time has come to start repaying .... and we are crying. The pains are now beginning with no painkillers available now... or in the near future. Keep holding on to your millions of Naira in the bank ..... maybe today it an buy a Mercedes... but I can assure you in two months time it can only buyba Toyota .... in another two months just enough for a Keke..... next four months a bicycle and in a year's time....it will be your rent money..... three years your market money. Again.... overt what you have now to a stable foreign currency .... your Naira savings is losing its purchasing power with every passing day.

Any more convenient platform to source fx apart from the Aboki on the street? Hope someone could explain how the Binance works

2 Likes

Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by ehinja: 7:49am On Feb 17
Earthquakes:
APC zombies need need to be flogged unclad
Nothing more to say than we did this to ourselves.

1 Like

Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by Scholace: 7:51am On Feb 17
Jackson105:


Always use your brain before typing, are igbo people the only ones that has good?

What happened to your brain for Christ sake?
igbos are more into business than every other tribes. The current hardship is mostly hit by the north and west
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by maasoap(m): 7:54am On Feb 17
koondog:
The way this is going the Igbo people they wanted to teach a lesson are making more money today, simply by passing down the inflation costs by increasing the price of their goods. This is textbook case of tribalism backfiring.

No election in Nigeria has ever been about Igbo people. 2023 election wasn't about you or Obi or Igbo, it was about democracy and the need for new president. 2027 election won't about Igbo but democratic right of every voter. Wake up

1 Like 1 Share

Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by casppyjay: 7:54am On Feb 17
HardMirror:
another person using his brain. I laugh at how these delusional people cry
make no mistake I’m a Christian have a very unique Christian name I mean very unique that I’m very proud of ..I have been wearing and carrying crucifix all my life I know the bible in and out but logic and common sense is required to balance and understand..it’s always a pain when I see people think otherwise!

1 Like 1 Share

Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by Realdeals(m): 7:56am On Feb 17
Like someone said, Nigeria economy has been a bubble that is been beautify by past administration. It wouldn't have survive for long, $7bn FX backlog, yet the government keep defending the naira, cherry picking those they sell USD to, who in turn roundtrip for gains.

My grouse is that Tinubu won't probe and prosecute those involved cause they are his partymen.

3 Likes

Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by Patioadvisor(m): 8:11am On Feb 17
koondog:


Don't even know how trading works. This is the problem with you people, you don't know and will never know.

And, there many type of trading nowadays. There something new called opinion trading. In this, people invest their money on their opinion on a portal like Probo App. You can also give it a try.
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by nairalanda1(m): 8:17am On Feb 17
Originalsly:
What are we producing to earn foreign exchange to strengthen the Naira? Take it or leave it .... the Naira will continue to slide. If Tinubu resigns tomorrow.... nothing will change. Buhari took huge debts... and so has Tinubu. It is only now the time has come to start repaying .... and we are crying. The pains are now beginning with no painkillers available now... or in the near future. Keep holding on to your millions of Naira in the bank ..... maybe today it an buy a Mercedes... but I can assure you in two months time it can only buyba Toyota .... in another two months just enough for a Keke..... next four months a bicycle and in a year's time....it will be your rent money..... three years your market money. Again.... overt what you have now to a stable foreign currency .... your Naira savings is losing its purchasing power with every passing day.

You are making sense, though this government is already going after dom accounts...

1 Like

Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by fetrillion(m): 8:18am On Feb 17
SensualMan1:
Oh my goodness and I regret why I didn't vote Tinubu whereas he has been favouring me and my family back home. The great £££ is a f**king 2k for £1

Jagaban carry us dey go!
On your mandate we shall stand!

Tinubu till 2031
I hope you dont intend to make any project back home because if you intend to have a project back home, you are still on the same spot.
December2022 when i came to UK e0xchange rate then was 906/£1and a bag of cement was 4500naira
Now 2000/£1 and a bag of cement is over £10000
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by nairalanda1(m): 8:18am On Feb 17
Realdeals:
Like someone said, Nigeria economy has been a bubble that is been beautify by past administration. It wouldn't have survive for long, $7bn FX backlog, yet the government keep defending the naira, cherry picking those they sell USD to, who in turn roundtrip for gains.

My grouse is that Tinubu won't probe and prosecute those involved cause they are his partymen.

Ye gods, another sensible comment!
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by gotnel: 8:27am On Feb 17
Ojuyobo and his Lagos boys have missed it totally. They are just dancing naked in the market Square ⬛️
How are they really feeling about this daily depreciation of naira and the devastating effects on the people's purchasing power?
Tinubu is an open disgrace to those of us that supported him.
It is very true that politicians are never made to serve people in Africa.
They are made to exploit and explore.
The same as our colonial masters.
The politicians are even more brutal than the colonial masters in their character.

1 Like

Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by Brushstrokes20: 8:35am On Feb 17
eBOLA ravaging the shyyythole 🇳🇬💯
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by Cromagnon: 8:42am On Feb 17
God1000:
We are in a mess.


And the president isn't doing or saying anything, he should come out and address the country.
were you not all clapping when he banned dollars? Shebi e de sweet una
You will learn economics the hard way since you refuse to pay attention in class
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by Cromagnon: 8:43am On Feb 17
Jamesclooney:
Liz Truss resigned in the UK for less than this. She tanked the British Pound against the USD by less than 10% and was forced out in less than 2 months. Emilokan has changed pounds black market from 700 to 2000 in less than one year and yet no calls for resignation.
does this look like UK to you
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by Cromagnon: 8:44am On Feb 17
crossfm:
Hehehe.

One step forward,ten steps backwards.

Propaganda and fire brigade approach won't solve the situation. At this point the CBN and federal government should put their pride aside and call for help from people outside the government.

All we need now is how to fix the economy.
No you don't
You know how to fix it but too lazy to do so
Enjoy
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by Cromagnon: 8:44am On Feb 17
Drone95:
This nonsense must stop! 1500 is okay!
that we've just started
What going to 2,300
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by Cromagnon: 8:45am On Feb 17
hustla:
Failed country

They have done everything except tackle the actual problem

Smh
una gree cooperate?
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by FuckingNaira: 8:47am On Feb 17
oluwasunkanmi97:
Please, what legit work can one learn to earn online.
Yahoo yahoo

Look for client and start bombing
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by hustla(m): 8:47am On Feb 17
Cromagnon:
una gree cooperate?

Who is una and cooperate with what exactly?
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by FuckingNaira: 8:48am On Feb 17
kcprince:
If you know you don't want your living standard to drop you better Find a way to earn in dollars.
So, you in 9JA how do you earn your own $USD
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by FuckingNaira: 8:49am On Feb 17
greenermodels:
Even if dollars sells for #3,000, I must vote again for Jagaban, Peter Obi and his disrespectful Obidients must be taught a lesson.
Imbe. . . Carry that your bambiala plate go oneside

1 Like

Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by TheFreshVanilla: 8:50am On Feb 17
cheesy

Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by FuckingNaira: 8:51am On Feb 17
Nonybb:
Nigeria is a stubborn country. Tinubu was refused to question that Son of perdition resident in Daura for printing illegal naira currently with his Fulani nephews
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by FuckingNaira: 8:58am On Feb 17
MichaelSokoto:
dey play!
We will soon get to #3500/$ dis yr!
cool
Lols. . . Stoping zone is 5k
All the old naira notes that was introduced back is now chasing dollar

1 Like

Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by nairalanda1(m): 9:01am On Feb 17
God1000:
We are in a mess.


And the president isn't doing or saying anything, he should come out and address the country.

Nothing can be done.

Releasing dollars is out...our forex is effectively below 5 billion dollars, and our future earnings are being eaten by debts and loans taken over the last 10 years.

Even if we earn more, we still have to pay off debts . And lots of debts.

Government is so despearate for forex that any remittances now are being converted to naira straight.

Like I said, the thing you can blame tinubu for is forcing GEJ to remove subsidy, and supporting and being part of Bubu's government that borrowed to maintain the illusion all was well.

1 Like

Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by Jflex07(m): 9:19am On Feb 17
HardMirror:
you are the only sensible person here. Learn affiliate marketing. Take time to understand it. You tube has a lot of videos that will put you true. Or go and learn how to contest for airdrops in crypto. People are making it big silently in usd while others are complaining.
Anything you want to learn, there are free videos on YouTube to put you through
It is always easy to say and give advices..
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by maasoap(m): 9:29am On Feb 17
koondog:
The way this is going the Igbo people they wanted to teach a lesson are making more money today, simply by passing down the inflation costs by increasing the price of their goods. This is textbook case of tribalism backfiring.
And concerning your people doing buying and selling and passing down the costs to consumers. Your people are not the only ones doing business in Nigeria, other tribes are doing business too. And the same way the costs are being passed down to consumers from other tribes is also the same way the costs are being passed down to consumers who are of Igbo origin. Or, your people no dey consume or dem dey buy items from their fellow Igbo traders at reduced prices?
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by HardMirror(m): 9:39am On Feb 17
Jflex07:
It is always easy to say and give advices..
easy to say. Stay there. Something I am into. Continue to be a victim
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by Caleycash(m): 10:17am On Feb 17
obaidan:

loool...who did u vote for, let's clarify that one fess
Walahi this should be a strong criteria to help anyone or employ anyone nowadays... you can't vote idiots sentimentally and want people who's brains are working properly to aid you!, won't work again, if you vote failure stick to your failure!

1 Like

Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by DrMuzungu(m): 10:48am On Feb 17
Don't worry, fellow Nigerians, Th1efnubu is working! Dollar will soon be N2790, exactly according to his plan.
But hey, let's blame GEJ, or Buhari!
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by Originalsly: 10:58am On Feb 17
nairalanda1:


You are making sense, though this government is already going after dom accounts...


No doubt .... they'll mop up all foreign exchange ... whether to use for running the government or to swap out for the billions of Naira they have in their personal accounts and in warehouses we can only guess. The woman in Lekki with $51K cash that was stolen by her house help ... no doubt ... she been buying swapping her Naira for dollars and people are shouting why would she have such amount at home. Many more do for the same reason .... afraid Tinubu would seize it if banked.... hoarding foreign exchange.
Re: Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation by Drone95(m): 11:29am On Feb 17
Cromagnon:
that we've just started
What going to 2,300
oh no, God won't let it get to that

(1) (2) (3) (4) (5) (6) (Reply)

Have Funds Or Not To Do Business, You Actually Need To Read This!! (reloaded)! / Banks, Businesses Comply With CBN Directive On Old Notes — But Shortage Persists / Watch Me Build A Business With 500 Naira Capital

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 41
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.