₦airaland Forum

The us dollars is crashing worldwide. And the price of phone to hit a record high in place like Nigeria. The price of phone is going down worldwide but the price keeps increasing in Nigeria. The price of phone Last year December have increased with about 25-30% in January and February.

Why is the dollar not crashing in Nigeria. But have crashed in all other countries?

Due to dollar crash phone manufacturers will increase there price in dollars due to inflation. The price will balance in other countries but will go higher is some countries like Nigeria because the dollar didn’t crash in some countries.

Metals like Gold, silver, bronze Etc which are critical components for phone making are going higher and it will affect price too.

Nigeria greedy factors normally defile the law of demand, supply,prices, inflation and other economy indices.

fineboynl:
The us dollars is crashing worldwide. And the price of phone to hit a record high in place like Nigeria. The price of phone is going down worldwide but the price keeps increasing in Nigeria. The price of phone Last year December have increased with about 25-30% in January and February.

Why is the dollar not crashing in Nigeria. But have crashed in all other countries?

Due to dollar crash phone manufacturers will increase there price in dollars due to inflation. The price will balance in other countries but will go higher is some countries like Nigeria because the dollar didn’t crash in some countries.

Dollar doesn't rise or fall. It's the demand for it that rises and falls which determine it value.

In most countries where dollar crashed, they use dollar mostly for tourism. But because of current US policies on immigration, tourism is limited making demand to be far below the supply. That is making people to request for lower amount to offload the excess dollar in their possession.

But in Nigeria, Demand for dollars varies. It's for goods importation, for equipment importation, for Hajj and other pilgrimage, for vote buying, for tourism, and for holding to sell at a higher rate.
Supply can never exceed demand in Nigeria making it impossible for it to crash.

If it dare crash, everyone will be trooping to different embassies to leave this country for our politicians.

kripen:
Nigeria greedy factors normally defile the law of demand, supply,prices, inflation and other economy indices.

This is where the Asians will have an edge over us and we keep getting things dumped on us because we don't produce. Aren't phones today now made in India Let's keep dulling ourselves with dollar instead of producing. China keeps laughing at the bank. No wonder that man said from consumption to production. Consumers only know how to consume 😕

Very Apt!!!

thesolutions:
But in Nigeria, Demand for dollars varies. For goods importation, for equipment importation, for Hajj and other pilgrimage, for vote buying, for tourism, and for holding to sell at a higher rate.
Supply can never exceed demand in Nigeria making it impossible for it to crash.

If it dare crash, everyone will be trooping to different embassies to leave this country for our politicians.

So we need both the producers and the consumers to grow our economy.

Nigeria is not using market factor statistics but government manipulated stats which is deceitful, if we had a transparent monetary policy, we shouldn't be having so much difference 🤔 🙄 😳

Why is the dollar not crashing in Nigeria. But have crashed in all other countries...?



They is nothing like universal Dollar crash it's market specific!

Dollar actually went down slightly in Nigeria. The problem here is that while dollar was falling naira was falling with it annulling the effect of the dollar crash, but still, there's a little appreciation in naira value as a result of the crash which some people are giving the government credit for. That's how bad things are currently in Nigeria.

This post isn't absolutely correct, all those times that Nigerian govt and its supporters are making propaganda that the naira is improving\rising against the dollar is because the value of the dollar is falling, not because our economy is improving, the most annoying thing is that the dollar doesn't fall much against the naira as it does against other currencies due to how much the Nigerian govt has kpaid the economy.