increase in dollar price

[Gideon99]

Dollar increase or inflation is cause by so many things. dollar inflation can either affect on the positive or negative side. It can be caused by the increase of importation of good or  increase in money supply, depending of the situation are you worried about the inflation? On the positive side today those earning in us dollars the price inflation encourage them to spend and invest their money, rather than keeping it. Many youth and people today especially Nigeria some are happy for the dollar inflation,some are suffering because they can't afford things because of the price increase. Some people are still struggling with their low salary and there  boom dollar increase, price of goods and commodity, "hard life " making goods and services more expensive.  This have cause the standard of living to decrease everybody dey manage now. The people that are gaining from the increase are those earning in USD example politicians and businesses connect from abroad. Any specific questions about dollar inflation?

[Agbe]

Increase in the dollar against the Nigeria is basically an economic issues as dollar can only rise against the Nigeria only when our government decides to devalue our local currency against the dollar making our local currency look inferior before the dollar leading to the high inflation as our country is a consuming nation that depends on importation of goods and these good's are been transacted in the dollar and these people have to make gain from their business due to the high cost of the dollar against the Nigeria. The only people benefiting from this problem are people earning in dollar

[Rruchi man]

The people that are gaining from the increase are those earning in USD example politicians and businesses connect from abroad.

Even when you earn in USD, you will still not be completely immune to increasing the cost of things. Your salary has more value, but you end up spending more money because an increase in USD somehow affects almost all commodities, including some items produced locally.
Even when you earn in Naira, you need to look for a way to earn more because expenses are never-ending, so you have to multiply what you earn so you can still have for investment.

[Hatchy]

Dollar increase or inflation is cause by so many things. dollar inflation can either affect on the positive or negative side. It can be caused by the increase of importation of good or  increase in money supply, depending of the situation are you worried about the inflation? On the positive side today those earning in us dollars the price inflation encourage them to spend and invest their money, rather than keeping it. Many youth and people today especially Nigeria some are happy for the dollar inflation,some are suffering because they can't afford things because of the price increase. Some people are still struggling with their low salary and there  boom dollar increase, price of goods and commodity, "hard life " making goods and services more expensive.  This have cause the standard of living to decrease everybody dey manage now. The people that are gaining from the increase are those earning in USD example politicians and businesses connect from abroad. Any specific questions about dollar inflation?

Yes probably the value might be high when we exchange dollars for naira but then check the price of thing in the market. It's not something we will be happy with. Even though who are earning in dollar still suffers the hardship in the country. The rate of increase in price of goods, fuel and accommodations is insane. Alot of people no longer have homes or food to put on their table and yet the government aren't borthered. You know what I hate the most about our country, is that when price of dollar dips, we still keep the high price of goods. We Nigerians are also a cause of our problems.

[Celph]

Dollar increase or inflation is cause by so many things. dollar inflation can either affect on the positive or negative side. It can be caused by the increase of importation of good or  increase in money supply, depending of the situation are you worried about the inflation? On the positive side today those earning in us dollars the price inflation encourage them to spend and invest their money, rather than keeping it. Many youth and people today especially Nigeria some are happy for the dollar inflation,some are suffering because they can't afford things because of the price increase. Some people are still struggling with their low salary and there  boom dollar increase, price of goods and commodity, "hard life " making goods and services more expensive.  This have cause the standard of living to decrease everybody dey manage now. The people that are gaining from the increase are those earning in USD example politicians and businesses connect from abroad. Any specific questions about dollar inflation?

Well,ot is known basically that dollar influences the price of alot of things generally.Am inflation in dollar would lead to a high cost of good s while deflation would lead to the reduction in the prices of goods and services ,although,I dont really know if this reduction in prices is emminent or happens here at Naija.If price go up,before e come down,Jesus gatz cough fess..
However,the naira has appreciated i a little in it's value as at of right now seeing that is now 1645 right now as at of today.I hope it keeps on depreciating like this.

[Sukii]

I dont know about you guys but for me the most annoying thing about this dollar issue is the lackadaisical attitude of our government to employ stern rules towards this increase in price
When dollar goes up price of goods follow but when dollar comes down price of food doesn't follow they will tell you its old stocks that they bought when dollar was up it is then left to the government to implement rules demanding that price be reversed
But no all they care about is the money they can fit into their pockets
Corruption has so eaten deep into the system that hope no longer looks visible

[Mate2237]

The only positive side of the dollar increase is for those who are involved in cryptocurrency trading and investment and also for those who are investing in dollar. But for the average Nigerians who are only dealing with the local currency suffer the most. Because everything that is sold in the country will increase 100%X. Then add it with the fuel price increase then everything na to skyrocket to the moon.

And the latest one to add the suffering is the flood that is coming.  If the flood increase more than like this then many people will die in hunger. Like others have said police people sef dey make things difficult for the citizens because dey no dey allowed di people dey protest.

[Agbe]

. The people that are gaining from the increase are those earning in USD example politicians and businesses connect from abroad. Any specific questions about dollar inflation?

  that is why we advice people to invest in crypto currency because crypto currencies like Bitcoin etc are not affected by the rise of the dollar because they are decentralized currencies, the truth of the is that there's no hope with the way those managing our economy is going about devaluing our naira it shows that they don't have the solutions to our economic situation so it's now left for us as individual to look for a way forward and start engaging in productive activities that will make you to earn in dollars as that is the only way that will be helpful because even if you are earning #200,000 to #300,000 in a month you will be surprised that you can't meet up with the bills as a family man because only a bag of rice is over a hundred thousand so the only way out of it is to start earning in dollars, off which crypto investment is the best place where you can invest and earn in dollars so you can meet up with the economic realities of the country

[Cantsay]

The only positive side of the dollar increase is for those who are involved in cryptocurrency trading and investment and also for those who are investing in dollar. But for the average Nigerians who are only dealing with the local currency suffer the most. Because everything that is sold in the country will increase 100%X. Then add it with the fuel price increase then everything na to skyrocket to the moon.

If things were cheaper then I would have considered it as being positive but the fact that we still have to come back and use that money to buy things that are now expensive due to inflation makes it’s worthless.

In the past you could have the same money you have now (that you’re making in dollars) and consider yourself rich, but now despite it being big you’ll still not be able to live the way you want because of the way things are expensive so it will make it seem like the profit you got from the dollar rise as a crypto trader is now being used to settle inflation in the country.

[Mia Chloe]

One of the actual truth is that compared to a great deal of other top currencies in the world, the dollar is actually declining too as a result of inflation however when the dollar is relatively compared to the Naira it actually seems to be rising whereas the actual situation is that it's the Naira that is actually declining in value. The problem of inflation is a general problem in the world today. However the Naira is actually declining way too fast.

One major issue is our foreign exchange market. It happens that our import and export market is entirely based on the dollar causing our currency to drop exponentially fast. The better the economy would get the better the Naira would improve causing rates to be more friendly.

[WhiteHat007]

One of the actual truth is that compared to a great deal of other top currencies in the world, the dollar is actually declining too as a result of inflation however when the dollar is relatively compared to the Naira it actually seems to be rising whereas the actual situation is that it's the Naira that is actually declining in value. The problem of inflation is a general problem in the world today. However the Naira is actually declining way too fast.

One major issue is our foreign exchange market. It happens that our import and export market is entirely based on the dollar causing our currency to drop exponentially fast. The better the economy would get the better the Naira would improve causing rates to be more friendly.

Hence, the value of our currency follows the strength or otherwise of the domestic economy and reliance on the US dollar. To reverse this decline, what is needed is concerted efforts for the building up of a stronger local economy and the undermining of reliance on foreigners’ currencies, especially the use of exporters’ foreign currency earnings for importation of commodities.

This way, Naira in turn can strengthen up enough and pave way for better exchange rate as well as, low inflation rates. This step will not only contribute to the improvement of people’s purchasing capacity but also serve the purpose to further improvement of the financial system.

[Axcel777]

One of the actual truth is that compared to a great deal of other top currencies in the world, the dollar is actually declining too as a result of inflation however when the dollar is relatively compared to the Naira it actually seems to be rising whereas the actual situation is that it's the Naira that is actually declining in value. The problem of inflation is a general problem in the world today. However the Naira is actually declining way too fast.

One major issue is our foreign exchange market. It happens that our import and export market is entirely based on the dollar causing our currency to drop exponentially fast. The better the economy would get the better the Naira would improve causing rates to be more friendly.

Some people may think that the dollar is increased against Naira while in real sense, inflation is almost touching almost all major world currencies. This advocates an ability to consolidate our local economy so that the Naira as our national currency will be competitive internationally.

The main point of striving for a better foreign exchange market and strengthening domestic trade is to extricate ourselves from dollar dependency. This will go along way in arresting the free fall of Naira and stabilize the exchange rate of the US dollar. Any attempt to fortify the economy on the larger scale will equally benefit out currency.

[rachael9385]

See me I no understand this country again oo abi na market people dey whine us. When things been start to cost them say na dollar small time say na fuel now dollar Dom stand attention for the past 2 months if I'm not mistaking. If at last dollar come down people go say na fuel be the issue again so at this point na to just focus on this petrol side cause I see am say the petrol price give headache pass the dollar sef.

[Cryptosmart]

See me I no understand this country again oo abi na market people dey whine us. When things been start to cost them say na dollar small time say na fuel now dollar Dom stand attention for the past 2 months if I'm not mistaking. If at last dollar come down people go say na fuel be the issue again so at this point na to just focus on this petrol side cause I see am say the petrol price give headache pass the dollar sef.

If you fit chop twice a day now you gallant ooo. Normally na fuel be issue na .and I no believe say dollar go come down oo..

[Tribalchief]

See me I no understand this country again oo abi na market people dey whine us. When things been start to cost them say na dollar small time say na fuel now dollar Dom stand attention for the past 2 months if I'm not mistaking. If at last dollar come down people go say na fuel be the issue again so at this point na to just focus on this petrol side cause I see am say the petrol price give headache pass the dollar sef.

I think majority of these market people don't even know the actual cause of price increment, especially for goods. The truth is, The drastic increment in petrol price is the cause of increase in goods including farm and non-farm products. Just take a driver for example, that wants to move 100 bags of rice to a neighbouring state. If a litre of petrol cost him N350 as at last year, and he buys it at N1250 this year, you would definitely expect some influence in the prices of goods as well.

I think the government needs to handle the whole petrol problem, and also, the devaluation of naira as well. We should stop doing those dirty and unhelpful business with the IMF and world bank. Consistent borrowing won't do us good when we are not productive enough.