Wednesday, 3 August 2016

Mixed Reactions As Naira falls again, now N380 to dollar

The Nigeria currency, popular naira has on Monday depreciated further against the dollar at the parallel market.


The currency exchange rate is at N380 to one dollar, from N378 which was traded on Friday, while it exchanged against the Pound Sterling and the Euro at N495 and N415, respectively.

At the Bureau De Change segment of the market, the currency exchanged at N378 for the dollar, N490 for the Pound and N413 against the Euro.

It, however, appreciated at the interbank segment as it closed at N316.37 from N319.70 it posted on Friday.
Meanwhile, traders at the market said that the scarcity of the greenback was stifling activities at the market.

They urged the Central Bank of Nigeria (CBN) to intervene in the foreign exchange market to ensure greater stability of the naira.

Some citizen of Nigeria reacted, one anonymous said "this govt.believes they are in power to protect Nigeria and not Nigerians. Can we have Nigeria without the citizens? Nothing whatsoever is being done to ameliorate the suffering of the Nigerian people. No more subsidy on fuel, prices of kerosine and diesel have skyrocketed. They say forex market is liberalized but the govt still control the supply side. There is also the unfair tax system. Whose interest is the govt protecting, Nigeria or Nigerians"?

While another said "This is God’s punishment for a sinful nation that prefers lies to truth. Anyone who is expecting things to change for the better had better think twice. Unless this clueless government is voted out, things might not get better for us". 

How do we vote out this government immediately like that, is it possible? well anything is ...

It is their mindset, you can still err your view!