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Nairaland Forum / Nairaland / General / Business / Naira Closes 1,402/$ At Official Market As Dollar Demand Persists (11861 Views)
Naira Closes 1,309/$ As Banks Sell $2.5bn / Dollar Supply Rises To $11 Billion, Naira Closes 1,572/$ / Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window (2) (3) (4)
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Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Everlastingson: 9:54am On May 03 |
maasoap: As far as you know this your comment is the reason the Nigerian economy is kissing the dust? SMH. Anyway, I don't know how schooled you are. But, out of many possible critical questions, answer only this: are there no speculators in other countries where the currency is stable? |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Teenaira: 9:57am On May 03 |
Kewtt: Can somebody help to explain the reason for increase demand for dollars even with a significant reduction in economic, physical and social activities in the country. |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Splashme: 10:00am On May 03 |
Terrible |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Everlastingson: 10:02am On May 03 |
Tyche: Some are even blaming Nairaland! You can't be sensible and support the criminals in power. 1 Like |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by zinaunreal(m): 10:04am On May 03 |
Bula bahhhhh . 😆 |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Madups(m): 10:05am On May 03 |
Kewtt:Nor mind them.. This exactly the same thing HE P.O said but instead of keeping quiet or tackling the message.. they atacked him and called him all sort of names. slowly but steadily it is going back and its becoming obvious that the man from a certain osun village and the nigerian oscar cardoso ave nothing to offer. 1 Like |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Lovenorth: 10:07am On May 03 |
Kewtt:What were we producing during Buhari's administration that naira was stronger and we are not producing it now under Tinubu which makes the naira to be very weak? |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Everlastingson: 10:08am On May 03 |
HeroicMeastro: You mustn't comment. Silence from you would have been better. Now you don remove all doubts. |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by NaijaCover(m): 10:13am On May 03 |
Following The Update |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by laivwire(m): 10:18am On May 03 |
CBN should pump in more dollars at #1,105 like before now All those low rates they issued in the last 2 months or so were just oshofree. 1 Like |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by thelastofus21: 10:22am On May 03 |
And new p2p platforms keep erupting. Latest one is the Lily Project https://lily.africa. Previously didn't think it was possible to do direct p2p e-currency swap together with crypto. |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Bliss4Lyfe(f): 10:24am On May 03 |
On day1 in Office, Tinubu destroyed the naira. Day 1 1 Like |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by nattyspice: 10:24am On May 03 |
poweredcom:The legend of the Beggars Dens, I dey hail you. 1 Like |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Greed01: 10:28am On May 03 |
na content creators cause this one lol |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Treadway: 10:35am On May 03 |
maasoap:why so pained? Leave your money in naira and watch your money burn, simple as that. I choose not to let my money burn, and so will hedge my savings in a stable currency. Live and let live, no be so una dey say? Lol Wetin consign saboteur for this matter. Some of us simply don't wanna join the league of unfortunates, due to the stoopid decisions of their stoopid leaders. I know how much easier my life would be today, if I had converted a savings of 3m in 2015 for $20k and just forgot it in a dollar mutual fund. Hold your naira abeg. Nobody's stopping you. 2 Likes |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Treadway: 10:43am On May 03 |
OfeAchi:I bought at 725, e be like that one na super duper outstanding profit. Anyway, I ain't selling till the two refineries come on stream. Emi o le je ki Nigeria ba aye mi je. Awon t'aye won ti baje OYO ni e wa. Emi o le join yin ooo🤣 We should be thanking God that japa wave has died down since this year. If to say that japa pressure on FX continued till this year, e go don burst that 2k to 1USD tey tey |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Treadway: 10:50am On May 03 |
onatisi:it is simpler sef. But dem don take lies and deception curse the APC and their hopeless minions. Refined petroleum products gulps 37% of FX. Commonsense dictates that once we can refine our products in Nigeria, there will be a lot of dollars freed up and available. Of course, petrol price will go up to the thousands but the naira will be stronger and better ( this is for those who somehow expect Dangote to reduce petrol price🤣, petrol costs more to refine than diesel, so if diesel is 1k, find X) But we still dey wait for PH refinery after the third deadline elapsed March 31, and Dangote date remains unknown. But once you dare call out the lies, deception and propaganda, some unfortunate accursed fellows will say you're unpatriotic. All those who hailed Buhari for 8 years only to turn around and blame him and have now carried on that same legacy to this one, una no go die better. Your lives will perpetually remain in the state Nigeria is today, one without purpose and direction! Like the decrepit griller at dem manna would say, NO BE CURSE, NA FACT. 2 Likes |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Antiurchins: 10:58am On May 03 |
Dollar is going up, cos there has been too much backlash on the CBN gov, accusing him of depleting our fx reserve to sustain the naira. The man came out to deny it, and in an attempt to support his claims, he took a break from taking more $ from our fx reserve, and immediately, the naira started to drop again. The trouble this will cause ahead is going to be brutal, cos it will get worse. |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Antiurchins: 11:01am On May 03 |
helinues: Incoherent blabs as usual |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by tctrills: 11:05am On May 03 |
PressMyButton:The summary of all this is that the naira is being destroyed. |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by tctrills: 11:07am On May 03 |
helinues:Under this government, hundreds of manufacturing companies have closed shop. This is the worse time to be a manufacturer in Nigeria. Even poultries are closing down. 2 Likes |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by James91: 11:07am On May 03 |
helinues:If you know amount of dollar 💰 politicians kept in their houses you will pray to leave Nigeria, the citizens only defend criminals due to tribe, former governor of kogi state for example, do you thing his money is in Naria ?? 1 Like |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by tctrills: 11:09am On May 03 |
maasoap:Stop blaming Nigerians for doing the right thing. What is wrong with having your savings in a stable currency? 1 Like |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by yemmywesey(m): 11:09am On May 03 |
DatNiggaDaz: Operation grab, snatch , and run away with it 1 Like |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by James91: 11:10am On May 03 |
Some school in Lagos collect fees in dollar 🤑, some hotel in Lagos collect fees only in dollar 💵, some restaurants, some residential apartments collect money in dollar 💵, now tell me how can Naria be stable. Let keep chasing shadow. 1 Like |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by jasent(m): 11:13am On May 03 |
Franklyspeakin:Sorry boss. |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by tctrills: 11:14am On May 03 |
maasoap:You call someone a saboteur because he chooses to invest in a stable currency and not in the unstable Naira? Oga it is only foolish to keep your money in naira. If you had your money in naira last year, by now it has depreciated by over 200%. If you love yourselves, your family and even your nation, why will you intentionally choose to be poorer? 1 Like |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Elxandre(m): 11:18am On May 03 |
anonimi:And aren't there supermarkets in production oriented economies like USA and China? It's evident many Nigerians lack critical thinking. |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by erico2k2(m): 11:19am On May 03 |
ogododo:The ££ already increased 2 times this morning against the naira by N each time, its now N1720 to the naira. |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by erico2k2(m): 11:20am On May 03 |
Treadway:Or they call you ipob or igbo |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by Johncuppa(m): 11:23am On May 03 |
Kewtt:Production has not been part of this administration manifestoes. And that's where the majority votes went to. Nobody should be disappointed. The reason why people are expecting something different is what I don't understand. |
Re: Naira Closes 1,402/$ At Official Market As Dollar Demand Persists by tctrills: 11:25am On May 03 |
anonimi:By their fruits we shall know them. You voted for the real scammer my brother. What are the fruits of the Tinubu government? Hunger, poverty, sorrow and death. Stop blaming the one you refused to vote for and concentrate on the failure you voted for. |
Sallah: Banks Recorded 278,966 Failed Instant Pay Transactions / Nigeria Devalues Naira In Bid To Attract Foreign Investors - Financial Times / Exposed: Buy @ #385 Using Debit/credit Card And Sell @ #450
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