Quote from: Synonyms on October 19, 2023, 04:35:08 AM

Nigeria's naira hit a record low of 1,100 per dollar on the black market on Wednesday, online platform abokiFX showed, a day after the currency hit a new low on the official market due to persistent dollar shortages.

It's very frustrating seeing this happening in this trying times, things are getting worse everyday and the current government aren't doing anything effective to fight the fall of the Naira. The government don't care because they mostly have their wealths and investment in foreign currencies. It's the masses that are suffering and things aren't going to change because the election system is rigged. The next coming president will still be won by the highest bidder and nothing can be done about it. I'm not surprised about the continuous fall of the naira because I always knew the naira has always been subsidize just like fuel in the country and immediately the subsidy are been lifted hings will get out of hand. The devaluation of naira is the the number one reason why we Nigerian are investing into Bitcoin to give us some security against our wealth losing value.

Quote from: yhiaali3 on October 23, 2023, 04:20:19 AM

I don't know much about the Nigerian economy, but there are certain reasons and wrong economic policies that lead to such a continuous decline of the Nigerian naira against the US dollar.

Bad government that's just the problem, it's the bad governance gives room for more corruption and the unprogressive nature of the country. We are just consuming over here which doesn't add to the economical strength of the country and the politicians are doing this on purpose. They keep borrowings to consume and not to produce and this is putting the country into debts. Things are quite worse than it's been reported. The rate been reported is not even what it's been sold as the scarcity of the dollars is making the local vendor set their own prices and as our economy is dependent on the dollar rate, jt affects everything in the economy starting from fuel to our daily foodstuffs.