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Naira Depreciates To ₦‎1,300/$ In Official Market - Business (5) - Nairaland

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Naira Depreciates To N1,305/$ In Parallel Market / Naira Eyes N1,300/$ At Parallel Market As Speculators Offload FX / Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens (2) (3) (4)

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Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Greensea1(m): 7:28am On Apr 24
[quote author=StOla post=129601139]

Oga, stop there and swallow your pride! Admit, accept you made a blunder and move on! Which one be context? I hate this kain nonsensical pride! Stop embarrassing us!
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by idahme(m): 7:29am On Apr 24
Fearyourcreator:

Igbos wants Nigeria destroyed if an igbo man is not president... Fake products people... Enikure se .. ema shofo bi omi efi ni... Na ailment go collect that wicked profit finish for your hand ... Disease wey no get cure go plague una kinsmen ... Eyin oloriburuku yi ... Enikure you and that aquilani abi Wetin be him name ... If na real estate una dey use the money iji lo ma wole na ... Eyin alaiye baje Yi ...


Why are bigots irredeemable?

6 Likes 1 Share

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by HIV1: 7:30am On Apr 24
StOla:


You are academically challenged.

Can currency exchange to a dollar appreciate from 1800 to 1000, as an upward movement?

Is that not a downward appreciation?

Olodo!
Stop displaying your illiteracy in the public

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by dfrost: 7:31am On Apr 24
StOla:
You are so happy with this news.

You are now motivated to rush out this news like when it was heading towards N2000 in February, but lacked motivation to rush out the news when it was appreciating downwards to N1000?

StOla, was the fix economically viable, both in macro and micro?

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by BadMaster: 7:33am On Apr 24
Nothing ever works in this country. How come CBN sells to BDCs at N1,020, and BDCs aren't suppose to make more than a profit of 1.5%, yet it's been sold for over N1,300. This is crazy.

3 Likes

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by dettolgel: 7:36am On Apr 24
theredaddy:




No one as asked anyone not to criticize or respond to the govt inefficiency, but someone wishing to our faces that Nigeria should crumble becos he earn in dollar .... he deserves all curses and beating self

All these nonsense we try here, in so called developed countries you can boldly come out nd wish your country bad under any guise and justify it, naa jungle justice or arrest But here one idiot is feeling fly cos he hoards dollar .. big shame

If you wana criticize, we need it, but those wishing the economic to fall so they can cash out to oppress, naa terminal sickness dem go use the money for

To be honest you are either too emotional or you are just a willful tool. What impact does a "wish" has on the economy?

The other group that has been wishing the economic good has their good-wish sustained the economy? If their good-wish can't revive the economy why do you think the bad-wish gang are the ones whose wishes are effective?

Please use your head and look at the root cause of the problem and then examine if government approach is right or not.

6 Likes 2 Shares

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by udemzyudex(m): 7:37am On Apr 24
Which kind wahala be this, sellers go see opportunity to keep their price high,again others go dey fear to buy goods.
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by udemzyudex(m): 7:39am On Apr 24
AqualinaXYZ:



Make i no lie I’m so happy dollar is going back up



Infact nobody happy pass me and I pray a dollar should hit 10k before august



Has price of goods come down since dollar went from 1900 to 1100?



Since they all claimed to have restocked when dollar was 1900 then make them maintain same price now that dollar is going back like who drink viagra



For some of us earning in dollar since price of niara goods has refused to come down let dollar rise make we gain in dollar

The likes for this post shows say a lot of people no want make this country better at all.

Wetin be the difference between you people and politicians wey una dey complain about?

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by udemzyudex(m): 7:41am On Apr 24
mrvitalis:

No body is happy, but it's like we told you so

Cardi b was using reserve, holders taught he was doing something nice till the report came out

Note dollar holders are the most educated n exposed Nigerians

Dollars is now a yardstick for intelligence?

Wow.
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by wink2015(m): 7:41am On Apr 24
NIGERIA GO AND INVEST IN AGRICULTURE, MINING, IT TECHNOLOGIES AND ELECTRICITY POWER SECTORS.


Investment in Agriculture will increase the already poor revenue status of Nigeria, states and local government.

Crude oil revenue may bring short term gains but it is grossly unstable.

Crude oil money since it brings short term gains is suitable for MONEY GRABBER like our politicians majority of whom are seeking public office for self benefit.

There is already crisis in crude oil producing community as the locals in the community are feeling that government is after their mineral resources but not after their welfare.

Go to Bayelsa states, Delta states, Rivers states, Akwa Ibom, Edo state, Ondo state they lack portable drinking water.

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by LagosFirstSon: 7:43am On Apr 24
Tinubu is a failure

Helinues what have you got to say about the constant depreciation of our darling naira against the dollar ?

I know to be a supporter of failure but I hope you won't support failure this time as usual

2 Likes

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Fuckyoumod: 7:44am On Apr 24
StOla:
You are so happy with this news.

You are now motivated to rush out this news like when it was heading towards N2000 in February, but lacked motivation to rush out the news when it was appreciating downwards to N1000?
You are irredeemably stupid!

2 Likes 1 Share

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by yewit37486: 7:44am On Apr 24
udemzyudex:


The likes for this post shows say a lot of people no want make this country better at all.

Wetin be the difference between you people and politicians wey una dey complain about?

It's shocking, honestly.
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by franugo(m): 7:45am On Apr 24
StOla:
You are so happy with this news.

You are now motivated to rush out this news like when it was heading towards N2000 in February, but lacked motivation to rush out the news when it was appreciating downwards to N1000?

Because he's the one that made the naira depreciate right?

4 Likes

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Anonimoux: 7:46am On Apr 24
I always knew that this voodoo and fire brigade economics will not lead anywhere.

When you aren't a productive country and an export oriented nation, your economy will suffer and your currency would be valueless.

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by IfnobeGod20: 7:46am On Apr 24
garfield1:


Mr man,going into heavy production is not a tea party or something done within days but take years na.apply common sense.even obi couldn't turn anambra into a production hub.it is a long term project.but while you gradually turn to production,you must in the short term use some drastic measures just as the cbn is doing until you are ready to produce and export massively.please apply common sense
In Yoruba parlance it is a common saying that oju to ma bani kale, kin taro wapin. True to ourselves, this government had not show any sign that they are going into heavy production. They only rely on Dangote for survival. How would a country put her destiny in the hand of a sole proprietor? Only Nigeria. It makes no sense at all.
I have applied the common sense, this is almost a year and those in government has not shown a pint of sense that they are going into production to help the economy. Patching the process won't help at all. If we like, we should continue in the same ways we were before, we will still get the same results.
Aside the governor of Niger state that has shown sign of going into production, the rest are sleeping, including the presidency.
My brother, these people are not ready to do the needful, they are sleeping and snoring and we expect wonders from them. This is no rocket science o.

3 Likes 1 Share

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by kay29000(m): 7:50am On Apr 24
StOla:
See them all creeping out of the obscurity imposed by their shame that the Naira did not fall as they anticipated.

Now they have all found their joy.

It's sickening.
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by cjudy(m): 7:52am On Apr 24
StOla:


I am happy even you are ashamed to mention someone else than those.

Since you no get shame, at least you get sense.
Have you asked your grand father?

He said go and ask your grandfather, so don’t delay. Run faster and go and ask him

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by dikings(m): 7:53am On Apr 24
Even after banning Binance?.hehoheho... I laff in Swahili undecided grin
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by tweakstar: 7:54am On Apr 24
Elonmuzk:
I saw this coming, it's a no brainer. Nigeria does not earn enough foreign exchange to support naira. They were just using the foreign reserve to prop up the naira. It seems like they are running out of dollars now. It's probably going to get worse.

So sad and scary.
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Bennycollins: 7:59am On Apr 24
StOla:


I am happy even you are ashamed to mention someone else than those.

Since you no get shame, at least you get sense.
It is not just about being the youngest. We have young thieves and criminals, just like we have credible old men.
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by IfnobeGod20: 8:02am On Apr 24
theredaddy:




No one as asked anyone not to criticize or respond to the govt inefficiency, but someone wishing to our faces that Nigeria should crumble becos he earn in dollar .... he deserves all curses and beating self

All these nonsense we try here, in so called developed countries you can boldly come out nd wish your country bad under any guise and justify it, naa jungle justice or arrest But here one idiot is feeling fly cos he hoards dollar .. big shame

If you wana criticize, we need it, but those wishing the economic to fall so they can cash out to oppress, naa terminal sickness dem go use the money for
But in those countries their leaders are not as greedy as those we have in this country. Their leaders respect the dignity of their citizens and they make good their promises to their citizens. A country that put her citizens into a perpetual slavery has no right to ask for patriotism from the citizens. Everyone gets what it dishes out. Remember a common saying, an hungry man is an angry man. People are angry about how the country is been run while some are pretending even though they are facing the same wrath from the government but because their tribesmen are in the helm of government, they are comfortable.
Come to think of it, that somebody is cursing his country, does it makes the leaders not to do the right thing? No country that some citizens would not be critical about their leaders. No country and I mean no country and Nigeria can't be different. Don't see the attitude of some as deferring. Those countries that frown at dishing out negative about their country have legislation to that effect and they also have strong economy.

2 Likes

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Bennycollins: 8:02am On Apr 24
motionarena:
Evil Markerters go now Increase prices
Due to dollar rise
That is one of the reasons some are telling you that they are cashing out from the poor economy dished out by the poor leaders.

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Geovanni412(m): 8:05am On Apr 24
Ofunaofu:


You are irredeemable

In fact, this quote is for you and your ilks

"Propaganda does not deceive the people; it merely helps the APC, Tinubu, those working with him, his apologist to continue to deceive themselves."

@stola,

Every Nigerian wants a strong naira

No Nigerian wants to lose money in their business

Reducing value of dollar exchange rate whilst price of goods remains high is a lose-lose situation

In construction of houses, contracts are priced in dollars and in naira. The dollar cost is to compensate for the unrealistic inflation of building materials that will occur during construction of the project.

With the artificial increase in naira value against the dollar and increase in building materials side-by-side, it is impossible for many construction projects to go on smoothly without the engineer incurring a loss or the owner of the project abandoning it.

This reality plays out in many other industries.

Importers who bought goods at 1,700 naira are having difficulty offloading those goods and have to take loans at higher interest rate to buy new stock.

This is basic economics. Nobody wins with this voodoonomics.

Better for them to focus on eliminating factors leading to high prices of goods before tackling the dollar issue.

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Ikennaezento(m): 8:06am On Apr 24
As the Dollar is now rising, the Agbadorians will start blaming the Obidients for the rise of dollar, instead of Cardi B

2 Likes

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by jaxxy(m): 8:08am On Apr 24
Lol criminals
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by EdiskyHarry: 8:09am On Apr 24
StOla:


There is no point trying to correct your ignorance so that I do not help you to be better.

I repeat again, appreciating downwards to N1000.

The context is clear for the educated and ambiguous to the academically challenged.
Just take the correction and move on, don't do more damage to yourself.
Goodluck
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Geovanni412(m): 8:10am On Apr 24
IfnobeGod20:

In Yoruba parlance it is a common saying that oju to ma bani kale, kin taro wapin. True to ourselves, this government had not show any sign that they are going into heavy production. They only rely on Dangote for survival. How would a country put her destiny in the hand of a sole proprietor? Only Nigeria. It makes no sense at all.
I have applied the common sense, this is almost a year and those in government has not shown a pint of sense that they are going into production to help the economy. Patching the process won't help at all. If we like, we should continue in the same ways we were before, we will still get the same results.
Aside the governor of Niger state that has shown sign of going into production, the rest are sleeping, including the presidency.
My brother, these people are not ready to do the needful, they are sleeping and snoring and we expect wonders from them. This is no rocket science o.

The governors are the biggest problem of Nigeria

If all of them are serious and create good environment for production of food in their areas, price of food will drop

Why should Abia state be importing yam from Benue state or Taraba state?

Every state should provide enabling environment for farmers and good security network

That way, price of diesel will not be a heavy influencing factor in food price.
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Honor10: 8:12am On Apr 24
RuggedBiafran:
Enjoy bro ..

Na Dem hunger wan kill and they will be pushing Propaganda on empty stomachs.

Will they now say it's Peter Obi that caused the $$ to rise?

It shows how they are governed in that Region.. na Propaganda be their food. That is why HUNGER wan kee them.




Hunger will kill you and you parents first, before it touch anyone in the west. Pained fuuul
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by theredaddy: 8:12am On Apr 24
dettolgel:


To be honest you are either too emotional or you are just a willful tool. What impact does a "wish" has on the economy?

The other group that has been wishing the economic good has their good-wish sustained the economy? If their good-wish can't revive the economy why do you think the bad-wish gang are the ones whose wishes are effective?

Please use your head and look at the root cause of the problem and then examine if government approach is right or not.



Maybe i am a bit emotional but i don't see how that is detrimental to Nigeria or Nigerians

Bad wishes have an impact cos those wishing the country bad have there mouth where there Money is ... thatz what you missed.
When you view all the efforts and planning that precedes "Repair" can you compare it to "destructive mission" ..
Repair and good finishing takes time and deliberate effort which must be consistent hence why we tell those asking why prices of goods are not going down spontaneously yet to be reasonably Patient as Rome wasnt built in a day
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by zinaunreal(m): 8:15am On Apr 24
theredaddy:



These one sweet you ... it is not "Propaganda" abi but if reserve is the case una go dey cry by bush baby upandan ... e ni kure

The drug pusher is a failure . Nobody told him? Keep on with your sentiment. The most useless president after buhari
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by callthefred: 8:16am On Apr 24
rinzaugustine:
We are going to teach Peter Obi a lesson 😂 Tinubu go favor me 😂 senseless animals were behaving as if it were only obidients that wanted a better and working country .Agbado go suffer curse the day they were born when emilokan is done showing them a town hall different from bulaba ( buhari)

Do you really think Peter Obi would have done better under a year considering the conditions met on ground? Because if government had refused to float the naira our reserves would have been badly depleted by now and we all know that speculators and bad eggs amongst us are actually responsible for many of these round tripping. You can blame Tinubu for anything else but those decisions were supported by all candidates including removal of subsidies so what exactly do you think Obi or anyone would have actually done differently to save the naira within a year knowing we import our fuel and essentials. Y'all just always bitter your man lost and for that reasons praying hard that Nigeria collapse.


I never voted or supported Tinubu but anyone with a functional brain knows that what he met on ground and attitude of Nigerians was terrible. Dollar had been on the rise for weeks and prices refused to go down and yeah government must be blamed for that too

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