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Nairaland Forum / Nairaland / General / Business / Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ (12775 Views)
Naira Rises To ₦1,450/$ After CBN Hiked Interest Rate / Official Exchange Rate Closes Week At N1,537.96/$1 Amidst Surging Inflation / CBN Confirms N410.25/$ As New Official Exchange Rate (2) (3) (4)
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Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by ifytrik(m): 6:29am On Apr 13 |
God1000: |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Realist777: 6:31am On Apr 13 |
jkpbestseries:It is very obvious that you don't understand economy. If it goes up you complain, if it goes down you find a way to still make no sense out of the effort they put in. Are you ever grateful at all? 11 Likes 1 Share |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by FireUpNow(m): 6:33am On Apr 13 |
I haven't seen it's effect on rice, garri, groundnut oil, palm oil, fish, meat, Chicken, eggs etc 1 Like |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Cj4charles(m): 6:33am On Apr 13 |
What is holding it from getting to 700?? I thought they say he is the master planner, he should take it back to where he met it the way he brought it up |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Blaze14k: 6:36am On Apr 13 |
helinues: It's not about being happy or sad but it's obvious the cbn is subsidising the dollar rate so there's nothing special, it's normal. Buh my problems why make us suffer inflation when he could have continued subsidising the naira. The problem the country is currently having is production. 1 Like |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Slytiger: 6:38am On Apr 13 |
FreeStuffsNG:Rufai is a mumu. An embarrassment to the body of journalism in Nigeria. 7 Likes
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Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by lionshare: 6:39am On Apr 13 |
DMerciful: Could you please elaborate on how the Naira is being protected? We are eager to benefit from your extensive expertise and insights. 9 Likes 1 Share |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Khyrvxjzy: 6:40am On Apr 13 |
laurel03: dont mind them 3 Likes 1 Share |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Khyrvxjzy: 6:41am On Apr 13 |
socialmediaman: which 490, if you want to talk negative you use official but positive you use bdc keep up the hatred 6 Likes 1 Share |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by lionshare: 6:41am On Apr 13 |
Blaze14k: Are you saying we are subsidizing the naira now? Any fact to buttress this view? 3 Likes 2 Shares |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by abbey621(m): 6:43am On Apr 13 |
Cj4charles: He can even bring it down to 200 Naira, na your old age or born and unborn children go suffer am......The magic/artificial deflation that Buhari performed for 8 years is what led to the drastic measures we see now. Hope say you don dey practice Chinese.....谢谢 5 Likes
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Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by lionshare: 6:45am On Apr 13 |
FireUpNow: It’s only a matter of time prices will drop eventually but it won’t while the rate is not yet stable. 3 Likes |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by InvertedHammer: 6:48am On Apr 13 |
NaijaCowFarm:/ Some people are busy making noise while others are strategizing with arbitrage in their mind . That's what separates wheat from chaffs. Anything below N1000 (even temporarily) is a big opportunity to DCA the sucker like crazy. / 1 Like |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Almunjid(m): 6:48am On Apr 13 |
Alexlalax1:No matter what Tinubu accomplishes, it seems it will never bring you joy, especially since your favoured candidate, Obi, isn’t the president. Your discontent will likely persist because our collective vote "will never" align with your "personal preference". 12 Likes 2 Shares |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Blaze14k: 6:49am On Apr 13 |
lionshare: Ain't you aware? You guys are not paying attention https://www.thecable.ng/nigerias-fx-reserves-fell-by-1-2bn-in-18-days/amp/ Do you actually think its easy to crash the dollar without pumping money into the system is Nigeria producing anything? The cbn is simply giving back what they made during the inflation 2 Likes |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by zinaunreal(m): 6:53am On Apr 13 |
This is not how you met the naira ooo. Return it back to the way you met it. Don't be deceived by thinking our economy is improving. It has to first return to the way he met it then we can actually see what he is doing. |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Riskymarvelous(m): 6:54am On Apr 13 |
Sannisege:there is nothing special here brother tell me the party that took the dollar to that level At least APC met the dollar #216 so if they can't take it back to that level they are failure even you yourself you lack integrity for supporting them |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Cj4charles(m): 6:57am On Apr 13 |
abbey621:Oga stop speaking grammar, if bringing it down to 200 will make Nigerians suffer so be it.. under Buhari, suffering was never like this and you are here talking bullsh*t |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Sannisege: 6:59am On Apr 13 |
I hope Rufai Oseni will not get a heart attack after reading this good news. 4 Likes 1 Share |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by SunMusk(m): 7:02am On Apr 13 |
If Emefiele defend the naira the way this present cbn is doing, using BDC as a control merchant, naira will not have reach 750 in the black market. But let see how this goes sha. Every currency in the world is defended, even the US DOLLAR IS control by the fed. Pounds, yen and others. Like I used to say naira is in this state bcs of corruption, Argentina devalue to 850 almost same time as Nigeria, the lowest it has gone to is 865 peso. Corruption is what is killing us in Nigeria. DMerciful: 6 Likes 1 Share |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by femi4: 7:02am On Apr 13 |
Sannisege:But they are right. No indices justify this artificial rise from economy point of view. What did Nigeria do differently? Prices of goods are still expensive Imported goods are on the high side |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Ubdavis(m): 7:07am On Apr 13 |
Can they sustain it?? |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Almunjid(m): 7:07am On Apr 13 |
Blaze14k:Please consider a different rationale. The Naira has been performing robustly for approximately six weeks prior to the release of this news. Furthermore, a sum of 1 billion dollars is insufficient to stabilize the Naira. According to Punch Newspapers, the CBN once expended $11.24 billion in a span of seven months to bolster the Naira as reported on December 1, 2022. Therefore, your presumptions appear to be unfounded. 4 Likes |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by lexy2014: 7:15am On Apr 13 |
Sannisege: are you not aware that tinubu through the same is defending the naira against the dollar and regulating the price of the dollar in the forex market but openly claim that they are floating the dollar and that market forces are responsible for determining the price?
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Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by phemray(m): 7:17am On Apr 13 |
Juliusganduje: How did u expect price of goods being sold by Nigerian to come down? Even if dollar is #300 they will find another excuses of insecurity or dangote didn't sell his fuel at #65/ litre etc. They are expecting prices to go up again for Thier personal gains. Patriotism is not in Nigeria, they claim to still be selling old stock but if dollar is 1500 tomorrow the price of old stock will follow immediately. most evil people prefers bad news on Nigeria everyday but God is disappointing them. 5 Likes |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Blaze14k: 7:17am On Apr 13 |
Almunjid: Bro it's not up to 8 months since the dollar crashed from 1900 to 1130 as of today. The cbn was simply buying time for dangote refinery to start work that is why they have pumped money the made through the inflation to crash the dollar. Don't forget it brought a negative effect on the economy |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by lionshare: 7:22am On Apr 13 |
Blaze14k: God gave us all brains to think; pls let’s use it. Can you tell us how much exactly was pumped vs the turnover in the fx market in march ? 2 Likes |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Blaze14k: 7:28am On Apr 13 |
lionshare: Bros you are the one to answer that question. I already gave you the answer to your question. So go ahead and prove me wrong with a substantial evidence 1 Like |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Almunjid(m): 7:36am On Apr 13 |
Blaze14k:In your initial comment, you attributed the dollar’s decline to the deployment of 1 billion dollars from our "foreign exchange reserves". However, your subsequent statement suggests that the dollar’s fall was due to channeling funds generated from "inflation". These conflicting statements highlight a "discrepancy" in your explanations. 2 Likes |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by GoldHorse(m): 7:42am On Apr 13 |
ogododo: This is good. Government now need to back this up with serious price control policy and its implementation so that all those things that went up and have refused to come down will be forced to come down so the people can get the benefits too. 2 Likes |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by NwaliE01: 7:42am On Apr 13 |
This butterfly effect of spending from our foreign reserve to cushion the naira is only but white washing. It's not sustainable and certainly, the naira will go up when significant amount of the FR has been depleted. We need to revamp our economy through our economic policies. We need to attract foreign investors. Improve our infrastructures and business climate. For now, we are just deceiving ourselves. |
Re: Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ by Ashawoman82: 7:45am On Apr 13 |
phemray:I agree with you on this.. 1 Like 1 Share |
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