Concerns Rise As Dollar Hits N1,533.99 In Official Market - Business - Nairaland
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| Concerns Rise As Dollar Hits N1,533.99 In Official Market by Mateco556: 1:53pm On May 17 |
The Nigerian naira has hit a new low, trading at N1,533.99 to the dollar in the official market, stirring widespread concern among citizens and market participants. This recent drop in value, reminiscent of the March 2024 high of over N1,600/$1, follows a period of relative appreciation in April. Data from the FMDQ Securities Exchange Limited revealed that the naira depreciated by 4.89% on Thursday, dropping from N1,459.02 on Wednesday to N1,533.99 at the... https://ratecaptain.com/concerns-rise-as-dollar-hits-n1533-99-in-official-market/ |
| Re: Concerns Rise As Dollar Hits N1,533.99 In Official Market by Melagros(m): 2:04pm On May 17 |
COMRADES are so worried about the incompetence of this government, when will life in general start getting better for Nigerians under apc? |
| Re: Concerns Rise As Dollar Hits N1,533.99 In Official Market by Oilwell(m): 2:29pm On May 17 |
It is well 1 Share
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| Re: Concerns Rise As Dollar Hits N1,533.99 In Official Market by Chicagograduate(m): 2:30pm On May 17 |
It was when Tinubu announced Naira floating that the Naira is getting weaker.He claimed to have worked for Mobil Oil as an accountant.Yet he talks more than his ability. |
| Re: Concerns Rise As Dollar Hits N1,533.99 In Official Market by fuckingAyaya(m): 2:42pm On May 17 |
E patewo fun Tinubu 👏🏽 |
| Re: Concerns Rise As Dollar Hits N1,533.99 In Official Market by ChimaAdeoye: 4:02pm On May 17 |
All the posts about the naira to dollar rate don’t mean much. I may not like Tinubu's politics, but I don’t blame Tinubu for the bad economy. It’s really Buhari’s fault because he printed over 30 trillion naira and pretended to change money, but he only wanted to make more 1,000 naira notes with cheaper ink. Buhari also borrowed so much money from other countries that we need 98% of our yearly earnings just to pay the interest, not even to repay the debt! We are blaming Tinubu, but he got the bad situation from Buhari. My only problem with Tinubu is that he focuses too much on taxes and uses the little forex we have to defend the naira in futility. He needs to see where this finally settles, then we will all adjust to that new rate and recalibrate the economy accordingly. He should focus on helping local industries in Nigeria produce things at good prices so we can export more than just oil Finally, forcing remittances to be paid only in naira is a counterproductive move that will force people who really need to save in their dollar account to use unofficial routes of sending money to Nigeria. The IMTOs specialize in cheating Nigerians by offering a much lower exchange rate. All these will ultimately cause less forex to be sent into the country through official channels that will help the economy.
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