The Nigerian naira tumbled to a record low of N993.83 against the dollar at the investors’ and exporters’ (I&E) window.

The I&E window is the country’s official foreign exchange (FX) trading platform.

The FX rate represents a 25.81 percent depreciation of the local currency from the N789.94 recorded on the last trading day.

Data from FMDQ Securities Exchange, a platform that oversees FX trading in Nigeria, showed that the official window recorded a low of N475 and a high of N998 to the dollar on Monday.

FMDQ said trading opened at N794.70 and closed at the rate of N993.83; adding that the daily FX market turnover totalled $88.31 million.

Meanwhile, at the parallel section of the market, the naira sustained its recent gains, trading at N1,150 to the greenback.

Taiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms, had said the federal government plans to introduce new FX rules, including a crackdown on illicit currency trading.

He said the government plans to clear a backlog of dollar demand estimated at about $6.7 billion, bolster the naira forward market, and set transparent rules for the operations of the official market.

On October 23, 2023, Wale Edun, minister of finance and coordinating minister of the economy, said Nigeria expects $10 billion in foreign currency inflows to ease liquidity in the foreign exchange market.

https://www.thecable.ng/naira-falls-to-record-low-at-ie-window-trades-n993


APC CHIEFTAIN BLAMES RUFAI OSENI'S FRIENDS

(start from 11: 29)


https://www.youtube.com/watch?v=xQHNawMCN0Y?si=FwZTq2g58DLjxaDd

From 1350 ?

Infojames:
From 1350 ?

From 750.

This is official rate not black market. Black market is still above 1200.

Nigeria is trying to make a useless future for history

So all the Economic Eggheads wey full this country cannot find a solution to this depreciating Naira.

Writing44:
Nigeria is trying to make a useless future for history

GanagiBitrus:
So all the Economic Eggheads wey full this country cannot find a solution to this depreciating Naira.

Those so called coconut heads are all interested in looting.
HODL your savings in USDT....convert all your naira now!




Wittyness.

APC with their blame game and Propanda.
Una go definitely chop that statistics

Tinubu the so-called chartered accountant is a scam.
This fraud no know anything jare. There's nothing upstairs. The old frog is an opportunist. He's only good at street level where native tongue and threats work, national governance is not for him.

GanagiBitrus:
So all the Economic Eggheads wey full this country cannot find a solution to this depreciating Naira.

politicians are the problem. They save their loot in dollars and sadly not in the banking system

Everyone expect this after the forex on 43 items was lifted

I even made the prediction

Ikaeniyan0:
Everyone expect this after the forex on 43 items was lifted

I even made the prediction

Kudos to APC abi

GanagiBitrus:
So all the Economic Eggheads wey full this country cannot find a solution to this depreciating Naira.

Economic Egg heads..
😁😁😁

Nigeria happens to all of them. If you and I are given the opportunity today, Nigeria will happen to us as well. Remember Babatunde Fashola and the Electricity rocket science

GanagiBitrus:
So all the Economic Eggheads wey full this country cannot find a solution to this depreciating Naira.

Ikaeniyan0:
Everyone expect this after the forex on 43 items was lifted

I even made the prediction

You made a prediction to the fall of naira

I think say na only igbos and obedients dey wish Nigeria bad? So agbado people don join?

Hehehe

Seunmsg you never wan leave tribalism and bigotry?

AchrafHakimi:
Tinubu the so-called chartered accountant is a scam.
This fraud no know anything jare. There's nothing upstairs. The old frog is an opportunist. He's only good at street level where native tongue and threats work, national governance is not for him.

omo you are 100% correct the guy na King of the street but for governance, he is zero ,you can check his records as governor of lagos