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Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market (4273 Views)

Naira Gains, Dollar Crashes At Parallel Market / Naira Appreciates Against Dollar / Naira Appreciates Against The Dollar (1) (2) (3) (4)

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Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by quickberry(m): 9:21pm On Jan 09
The Naira was sold at N361.5
to the Dollar at the parallel
market on Tuesday while the
Pound Sterling and the Euro
sold at N475 and N420
respectively.
Naira-Dollar
At the Bureau De Change (BDC)
window, the Naira traded at
N362 to the Dollar, slightly
lower than the parallel market
rate, while the Pound Sterling
and the Euro closed at N475
and N420.
Trading at the investor’s
window saw the Naira closed
at N359.38 to the dollar.
Traders at the market said they
expected the Naira to
appreciate further in the
weeks ahead. (NAN)

Source: https://www.vanguardngr.com/2018/01/naira-sells-n361-5-per-dollar-parallel-market/
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by LionDeLeo: 9:26pm On Jan 09
Since the foreign reserve has crossed $40b, I think the Fed govt can now bring this down to N300 in the time being.

3 Likes

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by whitebeard(m): 9:34pm On Jan 09
No abeg, pls for now
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by ClitoPen: 10:19pm On Jan 09
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by quickberry(m): 6:25am On Jan 10
quickberry:
The Naira was sold at N361.5
to the Dollar at the parallel
market on Tuesday while the
Pound Sterling and the Euro
sold at N475 and N420
respectively.
Naira-Dollar
At the Bureau De Change (BDC)
window, the Naira traded at
N362 to the Dollar, slightly
lower than the parallel market
rate, while the Pound Sterling
and the Euro closed at N475
and N420.
Trading at the investor’s
window saw the Naira closed
at N359.38 to the dollar.
Traders at the market said they
expected the Naira to
appreciate further in the
weeks ahead. (NAN)

Source: https://www.vanguardngr.com/2018/01/naira-sells-n361-5-per-dollar-parallel-market/

cc FOD
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by SalamRushdie: 7:47am On Jan 10
This is temporary and was already expected was due to "I just got back effect" were a lot of Nigerians living in diaspora came home with a lot of foriegn exchange as they visited loved ones at home amd those who couldn't make it also injected yuletide funds into their family finances and at the same time demand for foriegn exchange also slowed down as businesses took short breaks to enjoy the christmas and new year holidays ...Please note this has nothing to do with any policy from Buhari but rather expect him to spoil this little gain again with another bad policy or body language in the coming days .

11 Likes 4 Shares

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by Balkan(m): 7:47am On Jan 10
Doller you met at 199 and is now selling at 361 and APC is telling us that Naira is appriciating!

Dear God, can you fsst foward to 2019 please. We need to send this President to where he belongs. We cant wait any longer

17 Likes 1 Share

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by kikio1992(m): 7:47am On Jan 10
I still don't understand how this things work. When the naira was selling at a record high, cost of things rose drastically. But most of this prices haven't reverted since.

3 Likes 1 Share

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by seuncyber(m): 7:48am On Jan 10
Lubbish Make It 200 Naira

Oshiko
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by Adaowerri111: 7:48am On Jan 10
Buhari is a failure, dollar appreciated from 500 to 360 and still no improvement with price of commodities, Buhari led APC is a plague to this country

5 Likes 2 Shares

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by Sunnycliff(m): 7:49am On Jan 10
This is still not an achievement...

Buhari and his team should bring back our naira to its rightful place of not more than #250 in the parallel market.

2 Likes

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by EarthXmetahuman: 7:50am On Jan 10
dollar have to be around 200 for people to feel the impact of any economic improvement.

3 Likes

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by AdolfHitlerxXx: 7:50am On Jan 10
Car dealers are still selling 8 year old Camrys for 3million+

5 year old Honda Accords at 5million.

These forex rates
have decreased purchasing power

All these minimal decreases don't affect the price on the shelves

2 Likes

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by Akinolaben: 7:51am On Jan 10
Ok
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by martineverest(m): 7:57am On Jan 10
the power of swelling external reserve



I saw this coming when emefiele promised in December 2016 that by December 2017 external reserve wud be $40b....I guess by July dollar will be less than 300 to a naira


with huge rice plantation in d country and fall of dollars,I see better days ahead

1 Like

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by BigSarah(f): 7:59am On Jan 10
grin
Buy my wig and watch dollar rise like Antonio's Dick
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by united4men: 8:00am On Jan 10
ClitoPen:
Just as predicted by App Johnson Suleiman

http://www.nairaland.com/4263455/apostle-johnson-sulemans-2018-prophecies#63785281

Africans and prophecies!

my colleague is not an apostle and yet she predicted that the price of dollar will drop between January and February 2018

1 Like 1 Share

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by gurunlocker: 8:00am On Jan 10
LionDeLeo:
Since the foreign reserve has crossed $40b, I think the Fed govt can now bring this down to N300 in the time being.

Lol.... I don't know why I am laughing reading this comment. They will just bring it down like a swing right?

1 Like

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by HAH: 8:00am On Jan 10
I am not satisfied I believe the CBN can make the naira be like 250 with more injection, rates should also be converged, why is official rate 306 and other are 360
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by phemie007(m): 8:00am On Jan 10
#
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by grandstar(m): 8:01am On Jan 10
AdolfHitlerxXx:
Car dealers are still selling 8 year old Camrys for 3million+

5 year old Honda Accords at 5million.

These forex rates
have decreased purchasing power

All these minimal decreasets don't affect the price on the shelves

The exchange rate is one part.

The second is that import duty on cars is around 60%

1 Like

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by Slymonster(m): 8:01am On Jan 10
All this appreciate and depreciate. Bank still sell what ever they want to

1 Like

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by arejibadz(m): 8:02am On Jan 10
Hmm.....just imagine if it's 1naira to 1dollar just imagine how everything would be......mehn dis country is so fvcked up
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by LionDeLeo: 8:06am On Jan 10
gurunlocker:


Lol.... I don't know why I am laughing reading this comment. They will just bring it down like a swing right?

You can keep laughing till the end of time.

The govt can bring it down the way it was brought down from over 400 to 360.

If the govt start selling the dollars at N300 for PTA, importers etc just the way it is being sold at 360 presently, it is as good as bringing it down.

But this is amusing to you for obvious reason, which I wouldn't mention in line with the rules of the forum.
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by Pesuzok(m): 8:07am On Jan 10
gurunlocker:


Lol.... I don't know why I am laughing reading this comment. They will just bring it down like a swing right?

yes they can because they brought it to 360.

Economically, bringing it down might affect export, local manufacturing and reduce government revenue
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by Pesuzok(m): 8:09am On Jan 10
AdolfHitlerxXx:
Car dealers are still selling 8 year old Camrys for 3million+

5 year old Honda Accords at 5million.

These forex rates
have decreased purchasing power

All these minimal decreases don't affect the price on the shelves

The govt wants you to buy innoson,

1 Like

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by AishaBuhari: 8:18am On Jan 10
This administration have a way of defining Appreciation & Good without understanding.
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by EarthXmetahuman: 8:18am On Jan 10
Pesuzok:


yes they can because they brought it to 360.

Economically, bringing it down might affect export, local manufacturing and reduce government revenue
what export? grin
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by AishaBuhari: 8:19am On Jan 10
Pesuzok:


The govt wants you to buy innoson,
Like they even patronize made in Nigeria undecided
Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by blaqoracle: 8:19am On Jan 10
LionDeLeo:
Since the foreign reserve has crossed $40b, I think the Fed govt can now bring this down to N300 in the time being.
you want the government to bring down the dollars , so that you can resume your ferocious ostentatious life style of wasting 50,000 on a bottle of wine. If you want to buy foreign, go to foreign land." Stay in Nigeria and buy Nigeria.

1 Like

Re: Naira Appreciates, Sells At N361.5 Per Dollar At Parallel Market by shedy03(m): 8:20am On Jan 10
Balkan:
Doller you met at 199 and is now selling at 361 and APC is telling us that Naira is appriciating!

Dear God, can you fsst foward to 2019 please. We need to send this President to where he belongs. We cant wait any longer
and at $1=N199, APC shouted not acceptable. they used that to campaign against GEJ.

1 Like

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