SAY WHAT? Naira Depreciates Further As It Hits N208 To The Dollar

«§» 23 January 2015

The Naira on Friday, January 23, depreciated against the dollar as it traded at N208 from the N191.50 it sold for on Monday, January 19, the News Agency of Nigeria (NAN) reports.

The rate has made the Naira to lose N16.50 within five days.

The Central Bank of Nigeria’s website, however, put the Naira against the dollar at N167.50, while the Pound sold for N253.20 and the Euro stood at N193.89.

The development has resulted into speculation in the market and caused ripple effects on other currencies.

According to the Vanguard, some Bureau De Change and Black Market operators in Lagos said that they could not give rates to the Pound Sterling and the Euro.

Reportedly, dealers who preferred anonymity said that there was scarcity of dollars in circulation. They warned that the naira could depreciate further by next week.

---

Posted: at 23-01-2015 11:43 PM (9 years ago) | Hero

THE ECONOMY IS IN A MESS

Posted: at 24-01-2015 01:36 AM (9 years ago) | Upcoming

Eww... Gracious God!

---

Posted: at 24-01-2015 03:02 AM (9 years ago) | Gistmaniac

We are the largest economy in africa abi no b so

Posted: at 24-01-2015 06:38 AM (9 years ago) | Upcoming

Nigeria is dying lowly. Trash thing

Posted: at 24-01-2015 07:29 AM (9 years ago) | Upcoming

So many tin happen under GEJ administration.......
...... The change is gonna happen soon ......
Checkout the Prices of Petroleum in Nigeria from Day 1 till date The Administration. •
Gowon – from 6k to 8.45kobo •
Murtala – from 8.45k to 9k •
Obasanjo – from 9k to 15.3k •
Shagari – from 15.3k to 20k •
Buhari – from 20k to 20k (Price remains the same) •
Babangida – from 20k to 39.5k • Babangida – from 39.5k to 42k • Babangida – from 42k to 60k (Private Vehicles) •
Baban gida – from 60k to 70k •
Shonekan – from 70k to N5 (Naira) • Abacha – from N5 to N3.25k (Price drops) •
Abacha – from N3.25k to N15 •
Abacha – from N15 to N11 (Price drops) Abubakar – from N11 to N25 •
Abubakar – from N25 to N20 (Price drops) •
Obasanjo – from N20 to N30 •
Obasanjo – from N30 to N22 (Price drops) •
Obasanjo – from N22 to N26 •
Obasanjo – from N26 to N42 •
Obasanjo – from N42 to N50 •
Obasanjo – from N50 to N65 •
Obasanjo – from N65 to N75 •
Yar’Adua – from N75 to N65 (Price drops) •
Jonathan – (New year present) N141 • Jonathan – (After labor strike) N97 • Jonathan – (As Feb, 2015 Election approaches) N87
BUHARI and YAR’ADUA did not increase prices.
In fact, YARADUA reduced the pump price from N75 to N65.
Jonathan has suspended further increase in Jan 2015 because of the forthcoming elections.
Now he has reduced the price to N87 on 18th of January, 2015.
Nigerians Wake up

Posted: at 24-01-2015 09:59 AM (9 years ago) | Gistmaniac

Posted: at 24-01-2015 10:13 AM (9 years ago) | Hero

Man no fit cry again but to begin laugh 

Posted: at 24-01-2015 07:59 PM (9 years ago) | Gistmaniac

 

Posted: at 24-01-2015 09:35 PM (9 years ago) | Addicted Hero

 

Posted: at 26-01-2015 03:03 AM (9 years ago) | Upcoming