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Tuesday, 14 July 2015

ECONOMY NEWS: BAD GOVT: Naira now 241 against a Dollar

Market indications as at yesterday July 13th showed that the Naira is now 241 against a dollar. Financial experts say the ban placed by CBN on importers from accessing Nigerian foreign exchange markets for the importation of 41 items has led to the volatility of the Naira-Dollar exchange rate at the black market.


Uchenna Viscount and 2 others like this.

Jesse Osayande Vucinic Ehiagwina

Not only the ban. Uncertainty about the new Govts policies has contributed too. No one will put money in an unstable economy

Endy Edeson

@jesse: i'm really concerned about this poor Naira perfomance against the Dollar. The thing is that it's affecting Nigerians directly or indirectly. This devaluation could lead to high cost of goods and services. Lots of Nigerians are not EXPOSED enough as to know what is happening to our currency unlike FUEL PRICE which they can easily relate with. The inflation of fuel price is as outrageous as the devaluation of currency but no one is talking. Look, i'm a Netpreneur, i make a living online, this devaluation of naira is really affecting my profit margin during online transactions

Yvonne Onaibe


My Uncle ooo

Ubah Angel Onwa

Let it reach 300 per dollar so dat i will start sending money lol

Jesse Osayande Vucinic Ehiagwina

Endy, I understand you man. It'll remain so sadly for a while. Some people are quite happy with this though.

Ubah Angel Onwa

Change wow
Like1ReplyDeleteReport4 hours ago

Azeez Adekoya Falcon

dat y I dey beg my broda 4 US to atlewat send $200. atleast dat 1 go equivalent 48k. Chai Naija

Ige James Babatope

If a Ghanaian cedi has high value than Naira then forget abt dollar. we're really experiencing stagflation in our country

Paul Jiya

Nonsense rate y all this?

Njoku Onyekachi

Itz a lie oooooo! 1 naira is = 1 dollar in the northern nigeria!

Enyinda Nathaniel Okey

this equivalency would not have been a big deal if Buhari did not campaign about it... and now he has failed his promise in that direction

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