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Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years (54876 Views)

Naira Finally Improves At The Interbank Rate / Naira Crashes To 288/dollar At New Official Market / Naira Finally Devalued To N290/$ By Buhari (2) (3) (4)

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Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Rexphobia(m): 10:12pm On Dec 11, 2015
Make money in Naira, spend in dollars
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by sample042(m): 10:12pm On Dec 11, 2015
We are finished.

5 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by allanphash7(m): 10:12pm On Dec 11, 2015
Chai

28 Likes 1 Share

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by soleexx(m): 10:12pm On Dec 11, 2015
Not ma problem belive me
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Sunnycliff(m): 10:12pm On Dec 11, 2015
OMG! This is the real naira value! Let the CBN leave it like this! No hedging, let us see the joy of Buharinomics! 1985 is back!!

9 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by rozayx5(m): 10:13pm On Dec 11, 2015
lalasticlala

please frontpage


boooohari and his goons willl bring up another dasuki tale tomorrow to keep us distracted from the collapsing economy


people are sufferng while boooohari is attendi burial in cotonou undecided

21 Likes 2 Shares

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by criminalmindz: 10:13pm On Dec 11, 2015
The economy is sinking and all we hear is dasuki did this , dasuki did that

16 Likes 1 Share

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Nobody: 10:14pm On Dec 11, 2015
Sai Buhari
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by slap1(m): 10:14pm On Dec 11, 2015
I blame GEJ.

4 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by RedCapChief(m): 10:14pm On Dec 11, 2015
Buhari is technically the Minister of Finance. Emefiele and Kemi Adeosun are just mirroring Buhari's body language. They both deserve to be sacked for taking our economy to the dustbin. They are so many competent first-class economists who can lead us through these times but Baba had to settle for a graduate of University of East London - a mid tier institution - who doesn't even have a Masters degree. IMHO she is bigger than the post.

I want to know who is advising Buhari at this point. This is not the first time the naira has fallen but yet our currency is turning to chaff

All he seems to care about is chasing Dasuki and Dokpesi, completely clueless on economics

34 Likes 4 Shares

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Papertrail11(m): 10:15pm On Dec 11, 2015
ifyan:


You are 70.09999% wrong.

Who created BDC at first & who told you that's it BDC do money laundering the most, my bro if you don't know please make enquiry first before you jump into conclusion. It the bank and black mmarkers tjat do it the most.

mallam are yu sayn bdc dont help encourage moni laundering .....kai malam think fa


im majorly concernd about the econkmic sabotage dis pple are doing 199 to 260 is a big diff

9 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by criminalmindz: 10:16pm On Dec 11, 2015
Papertrail11:
if yu wanna make dollar reduce and help the economy cancel that nonsense called bureau the changi simple......

banks are selln for 199 yu guys are selln for 260 una dey crasee..... every normal person who needs dollar ought to go the bank and easily get it but yu guys create some kind of artificial increase nd help fiance money laundering....and stuff.....if normal pple went to bank an bureau the changi is cancelled pple who do not necessarily need it wont rush to buy it......I dont know if sm1 is feeln me here just d way I see it

Apc zombie

16 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by mployer(m): 10:17pm On Dec 11, 2015
Papertrail11:
if yu wanna make dollar reduce and help the economy cancel that nonsense called bureau the changi simple......

banks are selln for 199 yu guys are selln for 260 una dey crasee..... every normal person who needs dollar ought to go the bank and easily get it but yu guys create some kind of artificial increase nd help fiance money laundering....and stuff.....if normal pple went to bank an bureau the changi is cancelled pple who do not necessarily need it wont rush to buy it......I dont know if sm1 is feeln me here just d way I see it

Don't discuss something you know nothing about.

who told you banks are selling at 199?

23 Likes 1 Share

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by ifyan(m): 10:17pm On Dec 11, 2015
Papertrail11:


mallam are yu sayn bdc dont help encourage moni laundering .....kai malam think fa


im majorly concernd about the econkmic sabotage dis pple are doing 199 to 260 is a big diff


If you know more about the system you wouldn't be typing this.

4 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by ifyan(m): 10:18pm On Dec 11, 2015
mployer:


Don't discuss something you know nothing about.

who told you banks are selling at 199?

Keep everyone informed.

I love this

1 Like

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Firefire(m): 10:19pm On Dec 11, 2015
I was charged 225N / USD today for international online transaction .


We are getting closer to Dangote's prediction of 500/$.


May God deliver Nigeria and Nigerians. embarassed

11 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by sweatlana: 10:19pm On Dec 11, 2015
The change is here

5 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by AhmadMind: 10:19pm On Dec 11, 2015
Months ago I advised people to keep buying $£... The CBN Policy is baseless NAIRA MUST BE DEVALUED

I think i have wasted enough time of social media.... NAIRA MUST BE DEVALUED

The Nigerian man keeps hiding from the FACTS.... OIL is KAPUT!! undecided undecided

Commodity based currencies are falling all over the world.... ALLOW THE NAIRA TO FIND ITS TRUE VALUE>

GEJ didn't steal more than 2 Billion Dollars.... Its Actually all about CURRENT EARNINGS



Kenai:


http://www.thecable.ng/naira-trades-at-260-highest-in-42-years

With this disastrous news, get ready for tomorrow's story by Buhari and his goons on Goodluck Jonathan's $980bn loot, all in a desperate attempt to deflect attention from our current economic woes and keep their gullible supporters distracted on frivolities and nonsensical white lies.

If we didn't have a voting public so intellectually vapid, the focus would have been on asking our dear mallam to adequately elucidate on how he so miraculously "Cut down Nigeria's Inflation from 20 percent to 0 percent" as his campaign team so falsely bellowed.
Did he do it with a cutlass?
A few minutes of investigation and fact-checking would have made it clear to anyone that the story was nothing but a blatant lie.
When you claim to be an honest man, but your campaign promises are filled to the brim with unintelligent lies and slogans, it's time for some soul searching.

What's even worse is the fact that this man fought tooth and nail for the presidency for 12 years. 12 SOLID YEARS!
He finally gets there and is as visionless and lost as ever, promising to hit the ground running but taking 6 months to build a cabinet; with his mouth in hyperdrive and his brain in suspended animation.

Shame on this Twitter generation.
I will never be a slave to ignorance.


cc: Lalasticlala, Dominique, Ishilove, Firefire, AgabaI23, Atlwireles, WhiteTechnology, Whynotthetruth, Beremx, sunnyb0b0, Anonimi, MizMyColi, Ola6, Chukwudi44, NgeneUkwenu, Midolian, Modath, OrlandoOwoh, Jarus, Owobokiri, Owobikiri, AnambraDota, Rozayx5, Mogidi, TonyeBarcanista, Ecoterrors, Rawtruth, Onenaira3, Dabullit

5 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by davechelseafan(m): 10:21pm On Dec 11, 2015
Endtime change
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Demmocrats(m): 10:21pm On Dec 11, 2015
Papertrail11:
if yu wanna make dollar reduce and help the economy cancel that nonsense called bureau the changi simple......

banks are selln for 199 yu guys are selln for 260 una dey crasee..... every normal person who needs dollar ought to go the bank and easily get it but yu guys create some kind of artificial increase nd help fiance money laundering....and stuff.....if normal pple went to bank an bureau the changi is cancelled pple who do not necessarily need it wont rush to buy it......I dont know if sm1 is feeln me here just d way I see it


That is a big lie, i used my atm card at bank of america atm and the rate FCMB gave me was the rate as Bureau's do.

15 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by cao(f): 10:22pm On Dec 11, 2015
At this rate, I should just hide my Nigerian debit card, by the time I use it here in the UK, all my money go finish.

13 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Feraz(m): 10:23pm On Dec 11, 2015
mployer:


Don't discuss something you know nothing about.

who told you banks are selling at 199?
My brother, I was beginning to wonder oh!

2 Likes 1 Share

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by NaLaugh: 10:23pm On Dec 11, 2015
Each time I see these "Naira Crashes" topics on Nairaland, I rush to check the official rate, to see if it's a sweet time to send cash to Naija.
But it is ALWAYS hovering at the same $1 = 199.05.

Other than the very few people in Nigeria who have to make payments in USD for visas and such, I don't see how the "black market" rates are relevant to average Nigerians.

These fluctuations at the "black market" are only driven by arbitration done by people running that market.
It has zero reflection on the strengths or weaknesses of the Naira. ONLY an official change in the exchange rate signals that.

At this moment, the official exchange rate remains $1 = 199.05.


note: I have no interest in the underlying politics of any of this. This post has nothing to do with whether or not Nigeria's current administration is failing or working. I honestly don't care. At the end of the day, it's the same sh!t different toilet.

14 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Sanchase: 10:23pm On Dec 11, 2015
This is rape of the highest order.

1. The President is not addressing any issues arising.

2. He is not communicating with Nigerians on his short and long term plans for the economy.

3. He parades as corruption undertaker across parts of the world while Nigerians wine and dine in poverty.

ADVICE: Nigerians run for your lives, this administration is just filled with empty promises. The kind of promise they make is such promises you make to a girl while attempting to sleep with her. As soon as you sleep with the girl then you realize what a fool you have been for making such a promise.

This current government has slept with Nigerians but still fail to acknowledge it was all campaign promises.

22 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by repogirl(f): 10:24pm On Dec 11, 2015
Booooharinomics at work! angry

6 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by wristbangle: 10:24pm On Dec 11, 2015
This is serious! Hmmm!
Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Franzinni: 10:24pm On Dec 11, 2015
I am beginning to think , it's like curruption is the pillar that was holding our economy... Because this crashes is mind bogging

15 Likes 3 Shares

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by StOla: 10:24pm On Dec 11, 2015
MizMyColi:
Well,

Sai Baba
Sai Buhari
undecided

I hope the broom wavers and sai chanters feel a measure of relief at this news.

One wonders if it'll take eternity for the Buhari Led FG to start delivering dividends of good governance to the Nigerian people.

I'm not surprised that you always find your voice on such threads. No exams today? You've craftily avoided threads that discuss how Dollars have been moved out of CBN in suit cases only to end up in the hands of PDP supporters.

Don't worry about dividends of democracy now, let us undo the damage done by PDP, then we can proceed towards the promised land.

We know that oil is the basis of our economy and the Naira to Dollar rate fell from N160 to N220+ in the regime of your hero.

As long as Brent continue to sell below $50/barrel, don't expect any magic that will restore it to N160 to a Dollar as was obtainable when Brent was selling above $100/barrel.

In due time, you will be put to shame.

12 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by Nobody: 10:26pm On Dec 11, 2015
Cool down its not the lowest yet,its going all the way to 500.

2 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by AyamConfidence(m): 10:27pm On Dec 11, 2015
1 naira = 1 dollar...ISSOKAY...*SITS AND OBSERVES....TOGO LOADING

2 Likes

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by repogirl(f): 10:27pm On Dec 11, 2015
Papertrail11:
if yu wanna make dollar reduce and help the economy cancel that nonsense called bureau the changi simple......

banks are selln for 199 yu guys are selln for 260 una dey crasee..... every normal person who needs dollar ought to go the bank and easily get it but yu guys create some kind of artificial increase nd help fiance money laundering....and stuff.....if normal pple went to bank an bureau the changi is cancelled pple who do not necessarily need it wont rush to buy it......I dont know if sm1 is feeln me here just d way I see it
you just exposed your ignorance for free with this statement.. Even if you buy goods from abroad they will charge same rate as bureau de change because that is the market selling price and not CBN selling price.

9 Likes 1 Share

Re: Naira Finally Crashes To 260 Per Dollar, Its Lowest In 42 Years by HARDDON: 10:31pm On Dec 11, 2015
What a change!

Goodluck Nigeria!

7 Likes

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