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UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days (19258 Views)

Naira Hits ₦2,000/1£ At Parallel Market (From ₦1930/£) / Access Bank Is Offline For 3 Straight Days Imagine If It Was Opay/moniepoint / $1 Back To ₦‎690 At Black Market (2) (3) (4)

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Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by ambale(m): 10:02am On Jul 11, 2023
MRDEE01:
Mr Tinubu should as a matter of urgency increase production and also increase agro export.
The more forex we earn,the more the prices go down.

We can't be hunting forex in an import dependent economy and be praying for forex to crash.

How will productivity increase when the businesses that should bring it are severely suffering

Its gonna be a very long ride ooo


Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by Faposky95: 10:03am On Jul 11, 2023
DestinyNigga:
It will favour me and my family cheesy

best new Faith Slogan.......loving it

3 Likes

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by Smartguyboy(m): 10:04am On Jul 11, 2023
omoadeleye:
Okay. They should stop patronising black Market too
Go and stop them nah

3 Likes

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by micgray100(m): 10:04am On Jul 11, 2023
ME WEY GET MONEY FOR BANK IN NAIRA DEY LOSE.... ME WEY THINK SAY MY NAIRA GO TURN 600 NAIRA TO 1 DOLLAR IF TINUBU ENTER.... OMO.. OYO IS MY CASE O.....

2 Likes

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by Pyhonist: 10:06am On Jul 11, 2023
Not bothered. I earn in pound and dollars. Yet still pray the naira appreciates.

1 Like

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by Psammmy(m): 10:09am On Jul 11, 2023
During the last three years of buhari govt, me and some my Nigerian friends circle here just they use the high exchange rate dey buy distress properties Any how left n right for lagos😂🤣🤣. My hope is when BAT finally settle down and stabilse the economic situation and exchange rate come down, we go don hammer by then..
And for fellow Diasporan please look the lasu area of Iba(investment properties /hostel etc) .. Hungry home owners full there selling properties anyhow, make sure you verify the properties very well
(contact Barr Mathew, Omonile lawyer for property verification, that Man Na authentic lawyer wey sabi work, I no dey advertise person but that lawyer sabi work die).
Make the exchange continue to go up small and for japa critics, Na one of the reason I don't discourage anybody bi dat.

2 Likes 2 Shares

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by ogododo: 10:12am On Jul 11, 2023
Nemere2020:


https://nairametrics.com/2023/07/11/uk-pounds-sells-above-n1000-1-at-black-market-for-5-straight-days/
Dem never see shege.

2 Likes

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by Tboymessiah(m): 10:15am On Jul 11, 2023
NotAWierdo:
Currently at 795/$ on in most Peer2Peer black market exchanges. Naira will keep sliding down against the strong currencies of the developed country because our economy is import dependent and the pressure of chasing $€£ to import these goods/services/education cannot be met by relying on solely on forex from crude!

Better save your money in $$££€€ in the long run than to allow inflation and further naira Depreciation to eat your hard work and savings.

NasoLifeBe!!!

How can I convert my naira to dollar,

Am thinking to buy dollar with my naira, either Fri aboki or at bank, then open dollar account and save it there... thats what I thought.

But advice and mentorship on this saving in hard currency, will be highly appreciated by me...

Hopefully to hear from you soon.
Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by Empredboy(m): 10:18am On Jul 11, 2023
MRDEE01:
Mr Tinubu should as a matter of urgency increase production and also increase agro export.
The more forex we earn,the more the prices go down.

We can't be hunting forex in an import dependent economy and be praying for forex to crash.


my bro this one you are saying is theory, the practical aspect is that government can only make policies that trigger economy either negative or positive. Ever since tinubu became president he made "good" policies but at the wrong time. You cant deregulate without having excess fuel in circulation. Now nnpc and other marketers gave to ruch the few foreign currency to import fuel which could have been avoided if they have local made fuel whereby we won't need dollars to import fuel.

2 Likes

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by WoroSeeWoro(m): 10:25am On Jul 11, 2023
Un never see anytin

2 Likes

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by erniok(m): 10:26am On Jul 11, 2023
BrickDevo:
E go reach 2k bookmark this post
It won't get to 2k.
Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by Styluss: 10:26am On Jul 11, 2023
Acted before thinking
MRDEE01:
Mr Tinubu should as a matter of urgency increase production and also increase agro export.
The more forex we earn,the more the prices go down.

We can't be hunting forex in an import dependent economy and be praying for forex to crash.


Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by EmeeNaka: 10:28am On Jul 11, 2023
CodeTemplar:
Which one is black market again?

After collapsing the windows, there should be no black market now. This Tinubu chesslike economics wil bring wahala o.
I tire oo
Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by airsaylongcome: 10:30am On Jul 11, 2023
I remember the Buhari regime, through the useless Emefiele, forced abokifx.com off the Nigerian Internet. The claim was that they were manipulating/setting the FX exchange rate. How would they explain this hike in rate of GBP and USD

4 Likes

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by phemmyfour: 10:32am On Jul 11, 2023
zhirkovrado:
No wonder my aunt in the UK is always quick to send my school fees. I too love that woman.
if only you know the stress she goes through to earn £10 even in the cold

5 Likes

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by cucumbar: 10:32am On Jul 11, 2023
SmartyPants:


I am not an APC supporter. I am a Nigeria supporter.

You would like for everyone to play this silly game of running the country down because your candidate didn't win.

Sorry, you have a better chance of having a cucumber shoved down your smelly arse than me joining you in your idiocy.

shut up with this your candidate didn’t win nonsense.Who told you that you are not an APC supporter?
You think governance is voting in known corrupt entities and wishing away the repercussions abi?
It’s so funny that the majority of you lots are paupers but tribalism has dulled your brains. Bastard!

8 Likes

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by bjdon: 10:35am On Jul 11, 2023
Just remember when GEJ left office it was N250 to 1£. We have basically witnessed %400 depreciation of the Niara under APC, and people still voted for these croocks at the last election! Na Wa! I hope all those Yoruba's, Fulani and Haussa that voted APC are buying currency, fuel and foodstuffs at diffrent rates than the rest of us!

5 Likes 1 Share

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by hosemujica: 10:37am On Jul 11, 2023
MRDEE01:
Mr Tinubu should as a matter of urgency increase production and also increase agro export.
The more forex we earn,the more the prices go down.

We can't be hunting forex in an import dependent economy and be praying for forex to crash.


You only have two likes at this moment, even though you simplified the forex problem for ordinary man to understand. That’s how much Nigerians don’t understand the root cause of our forex issues.

1 Like

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by Chibuzor9000: 10:42am On Jul 11, 2023
OkCornel:
It will favour me and my family
This is the consolation of a supporter of evil regime hit hard by realities.
Very hypocritical
Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by somehow: 10:42am On Jul 11, 2023
Do we still have a black market rate after naira was floated or who's lying to us?
Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by HardBishop: 10:42am On Jul 11, 2023
MRDEE01:



Remember you have your opinion too bro.


Always remember you were taught the difference between opinion and analytical criticism
Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by SmartyPants(m): 10:50am On Jul 11, 2023
cucumbar:
shut up with this your candidate didn’t win nonsense.Who told you that you are not an APC supporter?
You think governance is voting in known corrupt entities and wishing away the repercussions abi?
It’s so funny that the majority of you lots are paupers but tribalism has dulled your brains. Bastard!

You're amusingly dull. The APC candidate won. If you are agaisnt APC then by definition, your candidate lost.

Even a primary school kid can deduce so.

But i'm not surprised. You have nothing to offer.

I suggest you get busy with your cucumbers. Don't forget to use lots of lube.
Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by SmartyPants(m): 10:56am On Jul 11, 2023
somehow:
Do we still have a black market rate after naira was floated or who's lying to us?

There will always be a black market rate. The difference is that in a free market, the black markert rate has a close relationship with the bank rate.

2 Likes

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by zhirkovrado(m): 10:56am On Jul 11, 2023
phemmyfour:
if only you know the stress she goes through to earn £10 even in the cold
That's someone that's already established. she's married to an English man and had been there for more than 20 yrs and is even the MD of her company. She's only enjoying the fruits of her labour now.

2 Likes

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by isArray: 10:58am On Jul 11, 2023
TemplarLandry:
E be things…

I dedicate “Make Dem Talk” by 2 Shotz feat. 9ice to well-meaning Nigerians in the struggle. Solemn jam!
I still listened to this jam some weeks ago grin
Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by bobola93: 11:00am On Jul 11, 2023
Nemere2020:


https://nairametrics.com/2023/07/11/uk-pounds-sells-above-n1000-1-at-black-market-for-5-straight-days/
when did Nigeria start spending Pounds make everybody get out
Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by bobola93: 11:00am On Jul 11, 2023
Nemere2020:


https://nairametrics.com/2023/07/11/uk-pounds-sells-above-n1000-1-at-black-market-for-5-straight-days/
when did Nigeria start spending Pounds make everybody ge t out
Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by finallybusy: 11:08am On Jul 11, 2023
Nothing concern me. I’m not traveling out yet.
Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by Nobody: 11:10am On Jul 11, 2023
Favour don land ooo!
grin grin grin grin grin grin grin grin grin grin grin
Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by ClearFlair: 11:13am On Jul 11, 2023
TemplarLandry:
E be things…

I dedicate “Make Dem Talk” by 2 Shotz feat. 9ice to well-meaning Nigerians in the struggle. Solemn jam!

We don't take anything from people who cannot be trusted. Keep your dedication

1 Like

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by omooba969(m): 11:15am On Jul 11, 2023
pafra:
E

How can you remove fuel subside, with out a minister to manage the process. You float forex without a substancial CBN governor and economic team.

Worse of all is the removal of withdrawal limit on forex in bank, without increasing the inflow of forex to the country and put in place legal frame work to manage the process.

I am hoping for the best moving forward.

'Hope' is not a good strategy as per financial matters.

2 Likes

Re: UK Pounds Sells Above N1,000/£1 At Black Market For 5 Straight Days by GoodbutBadguy: 11:20am On Jul 11, 2023
Nigeria's Naira still performs better than the South Korean currency but the quality of living & economy in South Korea is better than most European and all African countries. It's not by exchange rate but the favorable environment for businesses which will enhance the quality of living and give room for more investors. Let's be objective for once if BAT continues with this pedigree of economic reform Nigeria will be better in the long run and the reality is that it will be tough at first because economic transformation is a decision that requires a lot of sacrifice bcs no pain no gain.

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