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Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market - Business - Nairaland

Nairaland ForumNairaland GeneralBusinessNaira Hits All-time Low Of 334.50 Per Dollar At Interbank Market (18090 Views)

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Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Adesiji77(op): 5:21pm On Jul 27, 2016
Nigeria naira weakened to an all-time low of 334.50 against the dollar on the interbank market on Wednesday, a day after the central bank hiked interest rates to try to lure foreign investors back into local assets, traders said.

The naira fell 5.8 percent on Wednesday from its opening rate, and $10 million was traded at the new record low.

Traders said investors were pushing the currency lower to test the limit of how far it can fall, given a spread of almost 12 percent between the official and black market naira rates.

“If we have more people trying to buy the naira then it should strengthen. I think we will keep seeing the trickles … I don’t think we will see large inflows until the fundamentals of the economy improves,” one trader said.
http://businessdayonline.com/naira-hits-all-time-low-of-334-50-per-dollar/
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Kxngstein(m):
The gravity that's acting on the Naira is different from the one that's acting on all other things on this planet..
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by CACAWA(m):
[size=18pt] I have a plan for Nigeria.
It is just a matter of time
And a New Nigeria shall be reborn.
[/size]

Youth Revolution 2027...coming soon



there is a difference between revolution and uprising.
Calm down, I never meant violence.

Revolution is just a massive change in orientation and resolve to make a difference.
What we are trying to do is create a new orientation for the future youths of Nigeria (The 2027 youths) by massively catching them young (the 8 yr olds and above in primary schools upwards using several means -media and so on)

If we want a Nigeria where the voters, the masses and the leaders are not tuned to be naturally corrupt, it must start from a deliberate campaign. And when this is achieved. They will be more politically alert and encouraged to team up and vote themselves into power.

This will purge the system of the bad eggs, otherwise, we are only building youths who will be thugs for the children of today's political leaders. In case you don't know, they have started positioning their own children to continue leading us. But it won't happen in a new Nigeria.
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by veekid(m): 8:10pm On Jul 27, 2016
Make buhari put this country for olx now abi?
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by kennyman2000(m): 8:10pm On Jul 27, 2016
Okay ooo
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Motherfucker2:
Wow.
Thank God.

I hope it keeps going down.

I will be very happy if $1 exchanges for 2,000 naira before December
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by JoeCutie(m):
Nigeria has never been the best nation of the world, yes! But she had never been this bloody. Nigeria is bleeding profusely!

I grew up to meet a "bad Nigeria".
Nevertheless, it took The PDP (Obasanjo = 8years + Y'aradua = 2years + Jonathan = 6years) good 16years to bring Nigeria from her 'original' bad state to worse.

And now, it has taken The APC (Buhari) just 1year to shatter that record; breaking the record set by the PDP so rapidly and in an unprecedented fashion, by bringing Nigeria from worse to worst; to an all-time low; to her bending knees. And by so doing, they've set a new record - a world record...in failure!

Wow! Nobody (Party) does it like the APC.

Legendary!
undecided

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Rilwayne001: 8:11pm On Jul 27, 2016
Naira - dollar flunctuation like

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by romanus455(m): 8:11pm On Jul 27, 2016
pls teach me how to post on front page pls
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by justicejay(m): 8:12pm On Jul 27, 2016
Mtchew. Nevertheless am still tired of being a Nigerian
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Nobody: 8:12pm On Jul 27, 2016
The truth be say Buhari no get economic sense... and the people wey surround am na mumu dem be...
Oga wanted to be President...now nko? just negodu how we just dey fool ourselves..
The price of everything dey climb up everyday...we no even know where we dey go....but we just believe say we go reach there...smh
and d truth be say, e go still worse pass as e already dey!
Funnily, this hardship no care if u be zombie or wailer
nawa
Nkea dizi too much..
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by VocalWalls: 8:12pm On Jul 27, 2016
Google Adsense... grin

Please hit N500
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Motherfucker2: 8:13pm On Jul 27, 2016
You delivered Daniel from the lions den
You fed 5000 people with two loafs of bread and two fishes.
If you know you're the same God who never change, Make $1 to exchange for 3,000 naira, Make one bag of rice 50,000 naira , make 1 liter of fuel 2,000 naira
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Pesuzok(m): 8:13pm On Jul 27, 2016
Brace up for hike in pms soonest
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by JohnFrankling(m):
The way the Naira is going down against the dollar it may soon discover oil in Sambisa :
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by preselect(m): 8:14pm On Jul 27, 2016
[size=14pt]Buharinomics. . . . the economics of nnama!!!!
need I say more? . .
[/size]

[size=38pt]VooDoo Economics. . . . [/size]

#VoodooEconomics

Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by CXLVII: 8:14pm On Jul 27, 2016
God bless His Excellency, President Mohammadu Buhari


God bless The Federal Republic of Nigeria
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Nobody: 8:15pm On Jul 27, 2016
Buhari the undertaker...

He has been trying to take the naira under since he came on board
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by DropShot: 8:16pm On Jul 27, 2016
cool
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Optimist4life: 8:17pm On Jul 27, 2016
Na chanjiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii. Lol my teeth wan remove oooooooooo
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Kaira333: 8:17pm On Jul 27, 2016
CXLVII:
God bless His Excellency, President Mohammadu Buhari


God bless The Federal Republic of Nigeria
Are u well at all?
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by SensualMan: 8:17pm On Jul 27, 2016
Shitty country. Psfffffff
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by DickDastardly(m): 8:17pm On Jul 27, 2016
angry
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Donbrig: 8:18pm On Jul 27, 2016
A weakened naira does not equates a weakened Nigerians. Nigerians are strong and resilient folks, times are hard, no doubt. But we will overcome all this in due time and celebrate our nation in true loyalty, honesty and love again.

God bless our Nigeria.
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by salabscholar01(m): 8:19pm On Jul 27, 2016
the good news is '' I am not a pessimist.'' Bad economy is a function of time. If you can't change the economy, then you learn to change your economy. We must survive.
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Houseofglam7(f): 8:19pm On Jul 27, 2016
Wake me up when 1#=1$
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Nobody: 8:19pm On Jul 27, 2016
Sincerely...

The best week so far since bubu became president was the week he left nigeria for ear treatment.
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Mrchippychappy(m): 8:20pm On Jul 27, 2016
[size=15pt]Looks like we are on the right track. Very soon we would get to one naira = one dollar.................Zimbabwean dollars that is grin grin[/size]
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Nobody: 8:20pm On Jul 27, 2016
I still don't understand why PMB is retaining Godwin Emeifele as CBN Governor. What the CBN and his cohorts are doing to Nigeria economy is worst than coup. They are deliberately reeling out policies that will further impoverished Nigerians so that PMB will eventually become unpopular. The irony of the matter is that PMB does not know his true friends. His true friends are the so call wailers who are lamenting the fact that things are getting worst under his regime.
How do you explain the fact that CBN increased MPR to 14% when what we are presently experiencing is cost pushed inflation and not demand push inflation? It is quite obvious that the people PMB surrounded himself with are deliberately misadvising him
I will recommend that the president update his knowledge of Economics before it is too late!
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by otokx(m): 8:20pm On Jul 27, 2016
The way this thing is going it may hit 400 before the end of August.
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Nobody: 8:21pm On Jul 27, 2016
undecided I thought it's 200
Re: Naira Hits All-time Low Of 334.50 Per Dollar At Interbank Market by Nobody: 8:21pm On Jul 27, 2016
see as people turn demselves to monitoring spirits.
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