₦airaland Forum

Slonge2:
The dropping price of oil, which is the main stay of oil economy as a result of the glut in supply caused by the unprecedented level of production by the usa.

Ok I now understand, so what do you think can be done to protect the naira?

aemmey:
dutch disease is the major factor behind it

Hmmn dutch disease, I ve learnt something new in Economics today

mooremedia:
when a country's import surpasses it's export.What do you expect??
Look a kaduna for example,there used to be a leather industry to cater for
our wardrobe needs,but no:it's no more.

Until we start looking inward for the betterment of our country.Nigeria will only
grow worse by the day......
I'm not cursing,just stating facts.

I thought it worked on the principle of demand and supply. There was a time there was excess suPplyy of dollar and naira was strong. But it seems this new cbn governor is hoarding dollar,thereby increasing the demand of dollar which now makes naira worthless

The naira shed 0.76 percent on Friday to close at a record low of 177.45 against the dollar, despite the central bank intervening for a fifth straight day with dollar sales to try to prop up the currency, today it sold for 181.3 in Black market.

It seems the new cbn governor is clueless
can someone explain to me the mystery behind this?