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Naira Improves On Parallel Market, Sells At N501/$ - Business (3) - Nairaland

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Naira Gains On Parallel Market For Four Consecutive Days, Now N480/$ / Naira Improves To N485 Against US Dollar / Naira Maintains Gain On Parallel Market (2) (3) (4)

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Re: Naira Improves On Parallel Market, Sells At N501/$ by juman(m): 7:55am On Feb 23, 2017
Hunger is real in nigeria.
Re: Naira Improves On Parallel Market, Sells At N501/$ by abbeyty(m): 7:56am On Feb 23, 2017
i am not going to say anything until naira is N1 = $1 as promised

1 Like

Re: Naira Improves On Parallel Market, Sells At N501/$ by PassingShot(m): 7:57am On Feb 23, 2017
ToriBlue:
Help me tell him o. People sef.
They pray for failure of the current government.

And when the failure manifests, they wail, moan and curse, saying they wish for a better fortune.

Again, when the improvements start to trickle in, they go back to wishing the success never comes!

I do not know of any other set of people as confused, hateful and irrational as them.

3 Likes 1 Share

Re: Naira Improves On Parallel Market, Sells At N501/$ by xreal: 7:57am On Feb 23, 2017
ToriBlue:
Its an improvement jare.

ok oo
we need better improvement.
Re: Naira Improves On Parallel Market, Sells At N501/$ by PHILipu1(m): 7:59am On Feb 23, 2017
samogo1:


Do you know how much was stolen during Abacha's reign? I bet, you will amazed if Buhari decides to probe obasanjo's government. But yet dollar remained at 150-220$ in 16 years. Then APC Flushed the naira down the drain with unprofessional policies.

when we see the truth, let's say it. Yes I agree that this government is fighting corruption even though it's one sided. But they should try and help grow the economy by appointing professional hands. e.g what does a lawyer has to do with power generation.

it's well sha
.

Dollar remained ok that period because the price of crude which is our major source of income as a nation was ok too.

1 Like

Re: Naira Improves On Parallel Market, Sells At N501/$ by Truth234(m): 7:59am On Feb 23, 2017
PassingShot:
I hope this is not another hopeless hope from CBN.

A truly representative rate should not be more than 300/350 naira to a dollar, considering all the negative occurrences.

This will work, foreign reserves is rising by about $100m daily. Never happened before now, new forex policy announced to further increased market liquidity. These guys are up to something, and that thing is good.

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Re: Naira Improves On Parallel Market, Sells At N501/$ by MutantMetahuman: 8:00am On Feb 23, 2017
PassingShot:
I hope this is not another hopeless hope from CBN.

A truly representative rate should not be more than 300/350 naira to a dollar, considering all the negative occurrences.
anything less down 150 to a dollar by 2019 by this government is a total fail
Unless they increase minimum wage to a 100k

One of the reasons I campaigned rigorously against gej is because of perceived attempt to increase pump price and failure to handle forex amongst other things, yet he left it at dollars at 240 at parallel market and 199.

If apc think they can play an obj on us, I'm afraid they are on a long thing.

1 Like 1 Share

Re: Naira Improves On Parallel Market, Sells At N501/$ by ItzBenita(f): 8:01am On Feb 23, 2017
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Re: Naira Improves On Parallel Market, Sells At N501/$ by dee02(m): 8:01am On Feb 23, 2017
BeeBeeOoh:
So we are now celebrating nonsensical nonsense & mediocrity angry angry
Nothing is being celebrated. A positive news has been let out via the media, lets hope for the best and stop being mischevious all the time!

3 Likes

Re: Naira Improves On Parallel Market, Sells At N501/$ by sosy25: 8:02am On Feb 23, 2017
Nigerians need to hussle and earn US Dollars and repatriate it to their domiciliary accounts, we cant keep depending on the CBN and BDC's for US Dollars. Lets earn our own US Dollars, that is what would make our naira to be strong again.

If you want to join the growing army of Nigerians earning US Dollars, check my signature.

1 Like

Re: Naira Improves On Parallel Market, Sells At N501/$ by rusher14: 8:04am On Feb 23, 2017
PassingShot:
I hope this is not another hopeless hope from CBN.

A truly representative rate should not be more than 300/350 naira to a dollar, considering all the negative occurrences.

I disagree.

We are a non-producing nation, one which depends on virtually everything from imports.

Virtually, our only backing is the sale of hydrocarbons which often fluctuate in quantity and price.

But for the CBN defending the Naira whilst attempting to increase foreign reserves means bailing water out of ship at both ends.

The last few years prior to 2015 was a consequence of bonus profits on the sale of our sole product whilst depleting previously accumulated reserves.

An abundance of forex but surely a calm before the storm.

The Naira is even being defended by the CBN. Left to float it would certainly go beyond 700 Naira to the dollar.

We as individuals, as corporate entities must produce if the Naira must be respectable.
Re: Naira Improves On Parallel Market, Sells At N501/$ by MutantMetahuman: 8:13am On Feb 23, 2017
Realdeals:

Stop dreaming, naira will not even return to N200
so apc scammed us?
Re: Naira Improves On Parallel Market, Sells At N501/$ by PassingShot(m): 8:18am On Feb 23, 2017
rusher14:


I disagree.

We are a non-producing nation, one which depends on virtually everything from imports.

Virtually, our only backing is the sale of hydrocarbons which often fluctuate in quantity and price.

But for the CBN defending the Naira whilst attempting to increase foreign reserves means bailing water out of ship at both ends.

The last few years prior to 2015 was a consequence of bonus profits on the sale of our sole product whilst depleting previously accumulated reserves.

An abundance of forex but surely a calm before the storm.

The Naira is even being defended by the CBN. Left to float it would certainly go beyond 700 Naira to the dollar.

We as individuals, as corporate entities must produce if the Naira must be respectable.
Your points are valid but are not solely responsible for the high exchange rate we have.

Many of the CBN policies are equally responsible.

Why can't CBN sell dollars at the official rate directly to manufacturers and importers of certain essential raw materials and finished goods?

Why can't CBN sell dollars directly to international students?

By going through the commercial banks, without having adequate monitoring tools in place, only results in those banks engaging in unwholesome practices.

1 Like 1 Share

Re: Naira Improves On Parallel Market, Sells At N501/$ by PassingShot(m): 8:24am On Feb 23, 2017
MutantMetahuman:
anything less down 150 to a dollar by 2019 by this government is a total fail
Unless they increase minimum wage to a 100k

One of the reasons I campaigned rigorously against gej is because of perceived attempt to increase pump price and failure to handle forex amongst other things, yet he left it at dollars at 240 at parallel market and 199.

If apc think they can play an obj on us, I'm afraid they are on a long thing.
It's an illusion for anyone to think dollar can exchange for 150 naira in the next 2 to 3 years.

Obviously exchange rate could be low during GEJ because of huge inflow of dollars from crude sale. That has been greatly reduced by more than 70%.

Again, the massive looting that occurred in the twilight of GEJ's regime, even after losing the election, was not envisaged by any sane mind.

We have to be pragmatic in our expectations in the face of realities of today.

Today, even if PMB/APC wants to defend the naira as they wish, where is the dollar reserves to do it?

You perhaps need to listen to NOI on why they did not save for the rainy day which is today. That video is on YouTube.

2 Likes

Re: Naira Improves On Parallel Market, Sells At N501/$ by PassingShot(m): 8:30am On Feb 23, 2017
Truth234:


This will work, foreign reserves is rising by about $100m daily. Never happened before now, new forex policy announced to further increased market liquidity. These guys are up to something, and that thing is good.
I sincerely hope and pray so.

The CBN has to be very bullish and employ multi-dimensional approach to arrest the trend.

1 Like 1 Share

Re: Naira Improves On Parallel Market, Sells At N501/$ by erico2k2(m): 8:31am On Feb 23, 2017
efilefun:
Help us tell your hero and his fellow thieves to release all the dollars stored in their wardrobes and those buried, i just pray the united states change their currency and thrash away the old notes... i bet you dollars will exchange for less than 100 naira in black market
Uneducated comment . Hiw does starched loot transform into forex scarcity ? ?
Re: Naira Improves On Parallel Market, Sells At N501/$ by Nobody: 8:32am On Feb 23, 2017
ERockson:

You are d saboteur or you are too pessimistic
I consider my a realist i don't cover my eyes with a false hope.
Re: Naira Improves On Parallel Market, Sells At N501/$ by anonimi: 8:37am On Feb 23, 2017
PassingShot:
It's an illusion for anyone to think dollar can exchange for 150 naira in the next 2 to 3 years.

Obviously exchange rate could be low during GEJ because of huge inflow of dollars from crude sale. That has been greatly reduced by more than 70%.

Again, the massive looting that occurred in the twilight of GEJ's regime, even after losing the election, was not envisaged by any sane mind.

We have to be pragmatic in our expectations in the face of realities of today.

Today, even if PMB/APC wants to defend the naira as they wish, where is the dollar reserves to do it?

You perhaps need to listen to NOI on why they did not save for the rainy day which is today. That video is on YouTube.

Thanks for confirming that your idol either: grin cheesy

A) did not know what he was talking when he campaigned and promised to make N equal to $
B) he is a LIAR and knew he could not deliver what he promised.



www.nairaland.com/attachments/4024299_bubu6_jpeg86aaf8fa6cd32a5104ab6bf996dd1ee3


www.nairaland.com/attachments/3431120_cdatausersdefappsappdatainternetexplorertempsavedimages3420191picsart1455886204785jpeg503a9ea978cee321112203705090d494_jpeg42f7ff794fb9c526b6223de620a8596b


www.nairaland.com/attachments/2403078_buharinairatodollarpromise_jpeg536f4a3346e6a689940c6ceb025c51a7

1 Like

Re: Naira Improves On Parallel Market, Sells At N501/$ by Lifestone(m): 8:38am On Feb 23, 2017
ugochukwufrenzy:
ıs dat one ımprovement?bunch of medıocres...
You certainly lack comprehension ability. If thats not an improvement, then what is it? My expectation is that this trend will continue until we arrive at a fair value for Naira.
Re: Naira Improves On Parallel Market, Sells At N501/$ by PassingShot(m): 8:41am On Feb 23, 2017
anonimi:


Thanks for confirming that your idol either: grin cheesy

A) did not know what he was talking when he campaigned and promised to make N equal to $
B) he is a LIAR and knew he could not deliver what he promised.

You've proved times without number that you're only educated but not literate.

If I ask you to provide Buhari's words promising that lie of yours, you'd bring that Vanguard headline which body says differently from it's topic.

It's the reason I largely ignore you whenever you quote me.

1 Like

Re: Naira Improves On Parallel Market, Sells At N501/$ by MutantMetahuman: 8:45am On Feb 23, 2017
PassingShot:

It's an illusion for anyone to think dollar can exchange for 150 naira in the next 2 to 3 years.

Obviously exchange rate could be low during GEJ because of huge inflow of dollars from crude sale. That has been greatly reduced by more than 70%.

Again, the massive looting that occurred in the twilight of GEJ's regime, even after losing the election, was not envisaged by any sane mind.

We have to be pragmatic in our expectations in the face of realities of today.

Today, even if PMB/APC wants to defend the naira as they wish, where is the dollar reserves to do it?

You perhaps need to listen to NOI on why they did not save for the rainy day which is today. That video is on YouTube.
..
We know that. We have heard that song over and over, but the koko question is, what is pmb doing to help the situation?

We know gej messed up that's why we rally round pmb to help us out, but the question is, is he helping us?

We still rely rigorously on oil after two years without a single light at the end of the tunnel about diversification into other things. E.g mining and agriculture. We are still using scarce resources to look for more oil in the north and importing grass for cows, while nothing is been done to rampaging herdsmen that are destroying the little farm produce we have left.
I don't expect our economy to be well diversified, not even in another 10years, but at least do 1 thing at a time. If they improve one thing in 2years, we will take them more seriously. Agriculture is not even that hard.

.
Things that are draining are forex, e.g petroleum, nothing is done to our refinery. Our refinery still not working 2years later. While we are still blaming gej that we booted out for doing nothing. We are waiting for dangote to come and give us refinery in 2019, a business man that is known to control the market for gain and does whatever he wants with it.

Seriously, tell me one thing pmb is doing?
Don't tell me fight against corruption. I was enthusiastic about the fight against corruption until babachir lawal opened my eyes.

So please tell me, may be it will make go back to supporting buhari on this forum.
Re: Naira Improves On Parallel Market, Sells At N501/$ by PassingShot(m): 8:50am On Feb 23, 2017
MutantMetahuman:
..
We know that. We have heard that song over and over, but the koko question is, what is pmb doing to help the situation?

We know gej messed up that's why we rally round pmb to help us out, but the question is, is he helping us?

We still rely rigorously on oil after two years without a single light at the end of the tunnel about diversification into other things. E.g mining and agriculture. We are still using scarce resources to look for more oil in the north and importing grass for cows, while nothing is been done to rampaging herdsmen that are destroying the little farm produce we have left.
I don't expect our economy to be well diversified, not even in another 10years, but at least do 1 thing at a time. If they improve one thing in 2years, we will take them more seriously. Agriculture is not even that hard.

.
Things that are draining are forex, e.g petroleum, nothing is done to our refinery. Our refinery still not working 2years later. While we are still blaming gej that we booted out for doing nothing. We are waiting for dangote to come and give us refinery in 2019, a business man that is known to control the market for gain and does whatever he wants with it.

Seriously, tell me one thing pmb is doing?
Don't tell me fight against corruption. I was enthusiastic about the fight against corruption until babachir lawal opened my eyes.

So please tell me, may be it will make go back to supporting buhari on this forum.
If you think or ever believed that all the things PMB needs to do to turn Nigeria around can happen in less than two years, then it's better I give up on further discussion on you.

In less than two years, Boko Haram is almost a thing of the past. It's easy to forget about that achievement since you were probably not in the NE at the height of the group's mindless killings.

Take care.
Re: Naira Improves On Parallel Market, Sells At N501/$ by Ddy(m): 8:51am On Feb 23, 2017
DonCortino:
Idiots, fools n goats will come n say buhari is working nah! angry

Fool where is Buhari in this contest.Vagetable President.Is like Osibanjo will be better than him shaa
Re: Naira Improves On Parallel Market, Sells At N501/$ by ERockson: 8:55am On Feb 23, 2017
wamiikechukwu:


I consider my a realist i don't cover my eyes with a false hope.

Don't write off this country because we can not continue like this. What is real in losing hope in a country ur people are living. # gaining #11 against a Dollars compare to incessant loss is an indication that we can bounce back soon or later
Re: Naira Improves On Parallel Market, Sells At N501/$ by lifeisbeautiful: 9:08am On Feb 23, 2017
I don't know why most us of keep celebrating the little raise of naira to dollar where by corruption have eaten up Nigeria system entirely,product made in Nigeria, early last year was sold about 500 and now it sell for 1100. The increase of dollar naira rate is not up to 600 where most products made in Nigeria increase by 200%,import duty rate still remain 305 while we keep disturbing ourselves over issue of dollar naira rate ,if dollar fall to naira at 225 the price of goods will never return to the old price and this corrupt businessmen will still blame dollar rate and if dollar rate increase by 5naira they will add 200naira to a unit product pls recession is making our businessmen richer than ever
Re: Naira Improves On Parallel Market, Sells At N501/$ by MutantMetahuman: 9:12am On Feb 23, 2017
PassingShot:

If you think or ever believed that all the things PMB needs to do to turn Nigeria around can happen in less than two years, then it's better I give up on further discussion on you.

In less than two years, Boko Haram is almost a thing of the past. It's easy to forget about that achievement since you were probably not in the NE at the height of the group's mindless killings.

Take care.
nope

I don't expect things to change in two years.
I expect you to tell me what they are doing after two year to give me hope that they have the situation under control for another next two years so I can campaign for and vote them again

Boko haram gave way for herdsmen who are deadlier. boko haram still killing two years later? What is pmb and military doing to these menaces?
Any new weapon or strategy to combat boko and herdsmen apart from gej, aka the corrupt one's approach?

Please tell me, I really want to have hope in pmb again.
Re: Naira Improves On Parallel Market, Sells At N501/$ by PassingShot(m): 9:16am On Feb 23, 2017
MutantMetahuman:
nope

I don't expect things to change in two years.
I expect you to tell me what they are doing after two year to give me hope that they have the situation under control for another next two years so I can campaign for and vote them again

Boko haram gave way for herdsmen who are deadlier. boko haram still killing two years later? What is pmb and military doing to these menaces?
Any new weapon or strategy to combat boko and herdsmen apart from gej, aka the corrupt one's approach?

Please tell me, I really want to have hope in pmb again.
Herdsmen issue has been with us since OBJ time.

Their atrocities were there during GEJ's time.

The only difference now is the popularity in social media in Nigeria which has made reporting of such news to be more widespread.

I don't have to convince you about what PMB is doing. Analyze facts and make your own decision.

My only advice is that you should not read too many fake news that abound on the social media nowadays.
Re: Naira Improves On Parallel Market, Sells At N501/$ by MutantMetahuman: 9:28am On Feb 23, 2017
PassingShot:

Herdsmen issue has been with us since OBJ time.

Their atrocities were there during GEJ's time.

The only difference now is the popularity in social media in Nigeria which has made reporting of such news to be more widespread.

I don't have to convince you about what PMB is doing. Analyze facts and make your own decision.

My only advice is that you should not read too many fake news that abound on the social media nowadays.
you are still doing the same thing, blaming the past we asked pmb to fix.
I really don't care if the problem started during military era.
We wanted to change the problem, or lemme speak for myself, I want the problem to change, that's why I campaigned rigorously with even multiple monikers on this forum and other sites without any monetary reward for pmb with the hope he can fix the problem. I was accused multiple times on this forum that I'm apc agent.
I even had fights with some of my neighbours and friends about pmb like I know the guy.

But please tell me, two years later, is it worth it?
What is buhari doing to solve our problems caused by the past useless leaders?

I'm not the type that falls for media propaganda, or liepob lies. I'm not a kid.

3 Likes

Re: Naira Improves On Parallel Market, Sells At N501/$ by Ugosample(m): 9:47am On Feb 23, 2017
lifeisbeautiful:
I don't know why most us of keep celebrating the little raise of naira to dollar where by corruption have eaten up Nigeria system entirely,product made in Nigeria, early last year was sold about 500 and now it sell for 1100. The increase of dollar naira rate is not up to 600 where most products made in Nigeria increase by 200%,import duty rate still remain 305 while we keep disturbing ourselves over issue of dollar naira rate ,if dollar fall to naira at 225 the price of goods will never return to the old price and this corrupt businessmen will still blame dollar rate and if dollar rate increase by 5naira they will add 200naira to a unit product pls recession is making our businessmen richer than ever


You nailed it...

To cut long story short, our business class are heartless and wicked
Re: Naira Improves On Parallel Market, Sells At N501/$ by ephi123(f): 10:12am On Feb 23, 2017
We still have a long way to go, but progress is better than nothing.

Buhari should please stay put where he is. Thank you.
Re: Naira Improves On Parallel Market, Sells At N501/$ by ephi123(f): 10:19am On Feb 23, 2017
PassingShot:

Herdsmen issue has been with us since OBJ time.

Their atrocities were there during GEJ's time.

The only difference now is the popularity in social media in Nigeria which has made reporting of such news to be more widespread.

I don't have to convince you about what PMB is doing. Analyze facts and make your own decision.

My only advice is that you should not read too many fake news that abound on the social media nowadays.

Well, Nigerians have "analyzed facts" and can clearly see PMB has only worsened their lives on whichever metric one wants to consider.

The only people who have refused to see this are people like you, and the question is why? Your hands are tied perhaps?

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