GOBE! One Dollar Is Now Equal To 183.05 Naira, Lowest Ever

Date: 01-12-2014 10:11 pm (9 years ago) | Author: Mister Jay Wonder
[1] 2
- at 1-12-2014 10:11 PM (9 years ago)
(m)


The Nigerian naira touched a new record low of 183.05 against the dollar today, Reuters reports.

Dealers say concerns over a sustained low oil price and expectations foreign investors would demand more dollars to pull out of local assets.

The Naira was trading down 2.4 percent from Friday’s closing level.

The Central Bank of Nigeria (CBN) has been struggling to keep the naira within its preferred band even after devaluing the currency by 8 percent last Tuesday in a bid to halt a decline in the foreign reserves of the nation. Oil sales provide around 95 percent of those reserves.

The bank’s target band after devaluation is 5 percent plus or minus 168 to the dollar, but doubts remain about whether it went far enough given the likelihood of continuing low oil prices and the fact that Nigeria’s oil savings were being depleted even during a period of record high crude prices.

The Central bank’s ability to maintain that level will be put to test in the coming weeks — the naira is reportedly trading well below it and forex reserves are running out.

Pressure on the currency from lower oil prices risks reigniting inflation, which has stabilised in single digits for the past two years, the first time it has been this low.

Last week, the exchange rate for dollar at the Abuja black market,was between N182 and N186. It will be recalled that the International Monetary Fund, IMF, last week commended the CBN for its recent move to devalue the naira, saying it was the “right step in the right direction”











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Posted: at 1-12-2014 10:11 PM (9 years ago) | Addicted Hero
- schmit at 1-12-2014 10:19 PM (9 years ago)
(f)
Which way naija, na wa ooo
Posted: at 1-12-2014 10:19 PM (9 years ago) | Hero
Reply
- HOPEA23 at 1-12-2014 10:35 PM (9 years ago)
(f)
Poster what do u mean by lowest ever.....before it was $1 to 168naria..make I come change some of my cash now
Posted: at 1-12-2014 10:35 PM (9 years ago) | Addicted Hero
Reply
- Kevinberry at 1-12-2014 10:40 PM (9 years ago)
(m)
From this day henceforth I seize to be a nigerian

Am not and will never again be a nigerian..am proud of the government but am highly disappointed in the citizens they are the cause of most problems in this quack country called nigerian..

Woe unto you nigerians your doom is finally here

Not until the citizens start taking up arms and protesting and fighting for their rights as a citizens..believe it or not nigeria will not experience peace..

Nigeria jaga jaga

Woe unto you nigerians your doom has finally arrived
Posted: at 1-12-2014 10:40 PM (9 years ago) | Newbie
Reply
- dareper at 1-12-2014 10:51 PM (9 years ago)
(m)
Where do we go from here? This is bad
Posted: at 1-12-2014 10:51 PM (9 years ago) | Hero
Reply
- Melisis at 1-12-2014 11:03 PM (9 years ago)
(m)
@Kevinberry.....Mr 'Highsmith',please continue
Posted: at 1-12-2014 11:03 PM (9 years ago) | Upcoming
Reply
- Melisis at 1-12-2014 11:05 PM (9 years ago)
(m)
.....Jury
Posted: at 1-12-2014 11:05 PM (9 years ago) | Upcoming
Reply
- Brodahayo at 1-12-2014 11:08 PM (9 years ago)
(m)
Fela sang about this they didnt listen
Posted: at 1-12-2014 11:08 PM (9 years ago) | Newbie
Reply
- obiadada2015 at 1-12-2014 11:28 PM (9 years ago)
(m)
Up Jonathan. jonathan for life. fooollllllsssssss
Posted: at 1-12-2014 11:28 PM (9 years ago) | Newbie
Reply
- dickman2 at 1-12-2014 11:45 PM (9 years ago)
(m)
good for us that is coming home..
Posted: at 1-12-2014 11:45 PM (9 years ago) | Addicted Hero
Reply
- dickman2 at 1-12-2014 11:58 PM (9 years ago)
(m)
make e go to 200 naira for one dollar Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes
Posted: at 1-12-2014 11:58 PM (9 years ago) | Addicted Hero
Reply
- HOPEA23 at 2-12-2014 12:38 AM (9 years ago)
(f)
@kevinberry abeg shut up....no body cares about u any...if u like don't be a nigeria or be.....is it a bad thing if u lead the protest.
Posted: at 2-12-2014 12:38 AM (9 years ago) | Addicted Hero
Reply
- steveoneal at 2-12-2014 12:55 AM (9 years ago)
(m)
Quote from: Kevinberry on  1-12-2014 10:40 PM
From this day henceforth I seize to be a nigerian

Am not and will never again be a nigerian..am proud of the government but am highly disappointed in the citizens they are the cause of most problems in this quack country called nigerian..

Woe unto you nigerians your doom is finally here

Not until the citizens start taking up arms and protesting and fighting for their rights as a citizens..believe it or not nigeria will not experience peace..

Nigeria jaga jaga

Woe unto you nigerians your doom has finally arrived
woe unto you and your family .
Posted: at 2-12-2014 12:55 AM (9 years ago) | Gistmaniac
Reply
- papadip at 2-12-2014 01:00 AM (9 years ago)
(m)
The great years of ₦aira....1972-1992

The best year was 1980 ....can you imagine it was  ₦0.550 to $1.00….
…….then by 1993 KataKata don dey begin and everything kom dey Skatakata to JagaJaga
Devaluation of ₦aira is good for both IMF (International Monetary Fraud) and World Bank (World Bandit) & Capitalists...

1972   ₦0.658   
1973      0.658   
1974      0.63   
1975      0.616   
1976      0.62   
1977      0.647   
1978      0.606   
1979      0.596   
 1980   ₦0.550
1981      0.61   
1982      0.673   
1983      0.724   
1984      0.765   
1985      0.894
1986      2.02
1987      4.02		1988  ₦4.54
1989     7.39
1990     7.39
1991     8.04
1992     9.91
1993   17.30
1994    22.33
1995    21.89
http://en.wikipedia.org/wiki/Nigerian_naira
Posted: at 2-12-2014 01:00 AM (9 years ago) | Gistmaniac
Reply
- papadip at 2-12-2014 01:51 AM (9 years ago)
(m)
Quote from: HOPEA23 on  1-12-2014 10:35 PM
Poster what do u mean by lowest ever.....before it was $1 to 168naria..make I come change some of my cash now
Don’t change it in a hurry….

Posted: at 2-12-2014 01:51 AM (9 years ago) | Gistmaniac
Reply
- papadip at 2-12-2014 01:53 AM (9 years ago)
(m)
Quote from: Kevinberry on  1-12-2014 10:40 PM
From this day henceforth I seize to be a nigerian

Am not and will never again be a nigerian..am proud of the government but am highly disappointed in the citizens they are the cause of most problems in this quack country called nigerian..
Woe unto you nigerians your doom is finally here
Not until the citizens start taking up arms and protesting and fighting for their rights as a citizens..believe it or not nigeria will not experience peace..
Nigeria jaga jaga
Woe unto you nigerians your doom has finally arrived
You are just a small boy with a small brain. You were never a Nigerian..
You are the real JagaJaga Boi

Posted: at 2-12-2014 01:53 AM (9 years ago) | Gistmaniac
Reply
- morgrawl231 at 2-12-2014 03:04 AM (9 years ago)
(m)
@Kevinberry,,,,,,,u are a stupid boy,,,,,,,,,let's keep praying for the country and we will all get it right,,,,,instead u're sayin woe unto ur father,,,,,ur mother,,,,,all ur family, na SONPONNA go kill u where u dey,,,,,,
Posted: at 2-12-2014 03:04 AM (9 years ago) | Hero
Reply
- factoo at 2-12-2014 05:49 AM (9 years ago)
(m)
Quote from: Kevinberry on  1-12-2014 10:40 PM
From this day henceforth I seize to be a nigerian

Am not and will never again be a nigerian..am proud of the government but am highly disappointed in the citizens they are the cause of most problems in this quack country called nigerian..

Woe unto you nigerians your doom is finally here

Not until the citizens start taking up arms and protesting and fighting for their rights as a citizens..believe it or not nigeria will not experience peace..

Nigeria jaga jaga

Woe unto you nigerians your doom has finally arrived

I will say so shall it be for you and your family as have said it above; stupid good for nothing animal.
Once you are outside the Nigeria, you think you are longer a Nigerian…..
I pity you bcos you are coming back to you vomit, ‘remember that a chicken that defecate into the cocking pot is only decorating is tomb’
Posted: at 2-12-2014 05:49 AM (9 years ago) | Upcoming
Reply
- Shegzan at 2-12-2014 06:19 AM (9 years ago)
(m)
Hmmn...
Posted: at 2-12-2014 06:19 AM (9 years ago) | Gistmaniac
Reply
- HRHprince at 2-12-2014 06:24 AM (9 years ago)
(m)
What do we expect from the most corrupt GEJ regime
Posted: at 2-12-2014 06:24 AM (9 years ago) | Upcoming
Reply
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