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Nairaland Forum / Nairaland / General / Business / Naira Weakens To 917 Per Dollar - Bloomberg (20965 Views)
Banks Dollar Sale Falls As Naira Weakens To 1,479/Dollar / Naira Weakens To 1,233/Dollar At Parallel Market / Naira Weakens To N950/$Dollar As FOREX Scarcity Worsens (2) (3) (4)
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Re: Naira Weakens To 917 Per Dollar - Bloomberg by BoldBrainz(m): 8:22am On Aug 10, 2023 |
Angelfrost: If you'd followed all my nairaland comments from the very week Tinubu disposed subsidy and floated currencies, I vehemently hammered on this very outcome. I tried to explain how this very FX harmonisation policy was going to be very detrimental to the naira, which might possibly result to the collapse of the economy, because you cannot float a currency whose availability you cannot guarantee to keep up with public demand. Unfortunately, the usual APC propagandists came at me in droves, calling me all sort of names, telling me how I knew next to nothing compared to their Chicago drug baron who they claim had a super degree in Economics.. Hell, I gave the Economy 6 months from July to be on its knees. Looks like I was even being too liberal with the reality on ground. Fuel marketers will import the next batch of petrol by this month end or early September, and there's no way in hell pump prices are not going to rise, given the prevailing circumstances. 18 Likes 3 Shares |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Ewedegubbler: 8:22am On Aug 10, 2023 |
Naira is Igbo. It hates Tinubu 11 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Abagworo(m): 8:23am On Aug 10, 2023 |
israelmao: Buhari tried in the midst of challenges which Tinubu is yet to face from economic recession he met all the through Covid era. What killed Tinubu's government is anti Igbo sentiments instead of shelving same for national interest. He should release Emefiele without further waste of time 6 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Steinmann: 8:23am On Aug 10, 2023 |
#DAY 74 (STOLEN MANDATE) PRAYER: Nigerians are suffering, petrol, dollar , foodstuff,services etc have all increased their prices.Good lord give us the leader we all voted for so that we can start seeing positive changes. Amen. |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by yinkeys(m): 8:23am On Aug 10, 2023 |
They’ve finally destroyed the slave coast Listening to ridiculous advices from Western bodies in addition to horrible policies made by unpatriotic politicians With what’s going on in the Sahel a coup can arise here o Dévaluation 1000 6 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by clems88(m): 8:23am On Aug 10, 2023 |
Currently 931 on binance . The fall will favour me and my family iJN 5 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by bonnyhope: 8:23am On Aug 10, 2023 |
Chicago Economist should do something asap |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Kukutente23: 8:23am On Aug 10, 2023 |
tesppidd:Tinubu came in based on elite consensus and division of the masses. No way such a politician will be so concerned for the masses. If elections are ordered today, all the politicians in APC will gather round him as a survival ticket, divide the masses with ethno-religious propaganda and boom 💥 he's back in office. Why should he care what the masses are facing? 12 Likes 2 Shares |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Owochogod: 8:24am On Aug 10, 2023 |
Where is that APC guy that's always using the phrase this tinubu Government will favour i and my family,Just bring that your bald head let me test something on it. 5 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by OboOlora(f): 8:25am On Aug 10, 2023 |
Ope ooooooooooo This Tinubu govt favour me and my family o We de wait make e reach 1k, e get one 30M house wey I wan buy and my money na $30k now😁 5 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by clems88(m): 8:25am On Aug 10, 2023 |
Omo BUHARI is better than TINUBU . We all miss BUBU our love . Just 3 month the economy Hass crashed . We might be seeing the naira @1500 by December 2 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by symbianDON(m): 8:26am On Aug 10, 2023 |
tesppidd:Tinubu will turn out to be the most clueless president ever! Dude actually hit the ground clueless! Everything is spinning out of control but some dolts, who's conscience have been eroded, are here on nairaland trying with so much effort to defend this man's cluelessness in exchange for a paltry inconsistent stipend! 6 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by israelmao(m): 8:27am On Aug 10, 2023 |
Abagworo: Buhari only created two consecutive recessions by himself due to his incompetence and inability to act on the spur of moment or think on his feet. 1 Like 1 Share |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by oloriooko(m): 8:28am On Aug 10, 2023 |
1 GBP is now 1145 on Lemfi It will be the 8th wonder of the world if it falls below 1k Presently BAT and the big guys are cashing out big time God help 9ja .........modified this evening it jumped to 1,165/pound 1 Like 1 Share |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Angelfrost(m): 8:30am On Aug 10, 2023 |
BoldBrainz: Fuel prices Gas prices Transport fares Food prices Bride prices Olosho prices Healthcare prices Drug/Medication prices Etc... The poor have been choking for at least 2 weeks now... Now, the poor are about to drop dead. I ask for the umpteenth time: Does this nation have enough security and prisons??! The looming revolution and anarchy will be historic if things don't change positively and fast... With the way he is testing the patience of the North with this Niger matter, it might start there... Adamawa was just a test drive. 7 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Originalsly: 8:30am On Aug 10, 2023 |
Not an expert... but from observations... the Naira is going to tumble against the dollar for the next six to eight weeks due to dollar demand. Why? This is the time merchant's need to order stuff for Christmas and the dollar will become scarce .... demand and supply. Come December ... there will be no need to be scrambling dollars .... and thise coming from abroad will be trooping in with dollars .... flooding the market ... bringing the Naira to below its present rate. Have Naira in the bank?... it is losing value. My advice ... flip it ... buy US currency at the present rate .... and resell in 4 weeks time. After Christmas .... buy US currency and hold. There is nothing on the horizon that will lead to the strengthening of the Naira. Buy assets now before the prices catch up. 6 Likes 1 Share |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Acidosis(m): 8:31am On Aug 10, 2023 |
Christ have mercy! 1 Like |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Kalakulu: 8:31am On Aug 10, 2023 |
Nothing new here...going by history yorubas have a track record of destroying everything whenever they have managed to get power (with the exception of OBJ who unified the country by employing the best brains under his tenure regardless of tribe or religion). Right from the indigenization policy from 1972 when the military government of Gowon bequeathed numerous companies and enterprises (both private and public) to Yorubas as a reward for their role in the "civil war"...majority of the Federal government positions and civil service jobs that were once dominated by Igbos before the civil war were all staffed by yorubas...that was how so many yorubas became millionaires overnight thanks to the heavy patronage and big contracts they were awarded to them by the then government (as a thank you Awolowo kissing Gowon's arse)...meanwhile Igbos were handed absolutely nothing and had to rebuild from ground zero with crumbs. The post war three "R's" policy of Reconciliation, Reconstruction, and Rehabilitation agenda that was sold to the Igbos ended up being a scam. Igbos had to resort to sheer ingenuity and resilience in rebuilding their war ravaged region, with the scars yet to heal completely. What happened after? in just less than a decade the yorubas destroyed all those Nigerian owned companies and corporations that once thrived in the 70's- that was how they ran Leventis store aground and rendered it moribund. We're seeing history repeat itself again under an Ebola government; Ebola has staffed all the sensitive Federal parastatals of his illegitimate govt with his yoruba kinsmen...now our economy has gone from bad (under Buhari) to worse, dollar to Naira rate is now almost N1000 to $1!, gas prices are through the roof, inflation rate is on a rise, poverty abounds everywhere and I shudder to think what the multidimensional poverty index will be looking like now, insecurity situations are getting worse, Boko Haram that seemed to be subdued for a while now are now back in full force etc yet when you call out these maladies, Ebola's roaches will be quick to call you "Ipob" or "wailer"...yet na dem dey suffer pass o! Yet amidst all this chaos, Ebola is flexing his weak and corrupt-ridden military might in a country that has brazenly disrespected him time and time again. Brace up Nigerians, we're in for a bumpy ride. 7 Likes 1 Share |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by APC2: 8:32am On Aug 10, 2023 |
It's now 925. Nobody will sell to you for 917 4 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Tilewizy: 8:32am On Aug 10, 2023 |
whippersnapper: My God |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by AdesegunSanni89: 8:33am On Aug 10, 2023 |
If you like go and buy dollars at black market rate, na you sabi. The official rate is around N760 in banks. If government is selling petrol at N600 and you decide to go buy at black market for N1000. Na you sabi o. 1 Like |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Angelfrost(m): 8:33am On Aug 10, 2023 |
symbianDON: I honestly can't believe people can compare another person's administration with Buhari's and give Buhari accolades...! Jagaban needs to think and act faster, or just fvcking resign. This is deeply and insanely embarrassing. 4 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Hotwest: 8:34am On Aug 10, 2023 |
3 zeros loading. |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by YoobaNesan: 8:34am On Aug 10, 2023 |
They need a strong domain name with the apt key-word in .com. Contact me to provide them. gentposh: |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by rickleye: 8:34am On Aug 10, 2023 |
Ooni:So a single person placed a curse and all the religious institutions we have cannot intercede to break the curse ? Was Nigeria even an entity in 1836 ? |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by CodeTemplar: 8:35am On Aug 10, 2023 |
Ofunaofu:the removal of subsidy without refineries means we still import fuel and still need dollars to do that. It was a foolish move to remove so many subsidies and within a short period. That's why playing politics after getting go power is bad. He kept dishing out political moves and the whole thing was pleasant to him like normal politics. He saw himself as succeeding but only succeeded in making the wrong moves. 2 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Acidosis(m): 8:35am On Aug 10, 2023 |
Originalsly: Naira has NEVER gained any significant value since the 1970s. Saving in dollars in Nigeria is an "investment" that will NEVER lose value. It WILL always fall.. The best any president can do is to reduce the rate of fall. Buhari being the worst president in the history of the universal had the worst rate of fall. Naira, under Buhari, fell by over 300%. Tinubu is gradually taking that path. 5 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by clinician2x: 8:35am On Aug 10, 2023 |
This news de sweet me low key. My fiverr and binance de represent wella. 15000 dollars i started saving from buhari regime when dollar was 400 don blow up in naira reach now and I won't touch it till naira reach 2000 per dollar. I go just use am buy house, come japa. 2 Likes |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by Angelfrost(m): 8:36am On Aug 10, 2023 |
AdesegunSanni89: Banks indeed! Who do you think makes the Black market thrive??!... Think! Think!! Think!!! Those of you supporting these leaders are really trying... You better be well compensated. 11 Likes 4 Shares |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by symbianDON(m): 8:36am On Aug 10, 2023 |
Angelfrost:it's quite disappointing to say the least |
Re: Naira Weakens To 917 Per Dollar - Bloomberg by onlyboyson(m): 8:37am On Aug 10, 2023 |
Asiwaju is coming |
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CBN Begins To Clear FOREX Backlog / Otedola Donates N5 Billion For North-east Intervention. / CBN Sells Dollars To BDCs Below Market Rate At ₦1,101/$1
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