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Naira Fell To #470 Per Dollar - Business - Nairaland

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Naira Plunges To N390 Per Dollar On Parallel Market / January Manufacturing PMI Fell To 48.2 / Naira Weakens To 470 On Fresh Dollar Scarcity (2) (3) (4)

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Naira Fell To #470 Per Dollar by emerged01(m): 6:50pm On Feb 23, 2017
Naira on Thursday gained against United States dollar at the parallel market.
The dollar which started the day at N500 early morning fell to about N470 by the afternoon.

The development saw many Nigerians rushing to the market to sell their foreign currency.
Traders say buyers are skeptical, while the market is full of speculations even though the Bureau de change operators have not started receiving supply from the Central Bank of Nigeria, CBN, as promised yet.
The market has witnessed strengthening of the Naira since early in the week.
The is as the apex bank changed its policies in the supply of the foreign exchange.


http://dailypost.ng/2017/02/23/naira-gains-drops-n470-1-parallel/?utm_source=dlvr.it_dp1&utm_medium=facebook

2 Likes

Re: Naira Fell To #470 Per Dollar by SalamRushdie: 6:55pm On Feb 23, 2017
Take Buhari out of the scene and see how things start to improve... Sarrki Good even bro

5 Likes

Re: Naira Fell To #470 Per Dollar by Jesusloveyou: 6:57pm On Feb 23, 2017
That is good.
But
Why 470 instead of 370?

2 Likes

Re: Naira Fell To #470 Per Dollar by Epositive(m): 6:58pm On Feb 23, 2017
change is a gradual process, we are getting there. very soon naira will equal dollar (take it or leave it)


#istandwithosinbajo
#positivevibes

2 Likes

Re: Naira Fell To #470 Per Dollar by PassingShot(m): 6:59pm On Feb 23, 2017
Seems the new policy is on course to be the needed solution to the fx problem.
Re: Naira Fell To #470 Per Dollar by sdindan: 6:59pm On Feb 23, 2017
Buhari should never come bk.
Imagine Nigeria without Buhari for a year.

2 Likes

Re: Naira Fell To #470 Per Dollar by PassingShot(m): 7:00pm On Feb 23, 2017
SalamRushdie:
Take Buhari out of the scene and see how things start to improve... Sarrki Good even bro
Seems you feed with the "likes" you crave and get from your fellow kids here!

4 Likes

Re: Naira Fell To #470 Per Dollar by queencalipso(f): 7:01pm On Feb 23, 2017
Whatever that is holding bubu in London should continue to keep him there..

Nigeria is way better without him

7 Likes

Re: Naira Fell To #470 Per Dollar by greatgod2012(f): 7:04pm On Feb 23, 2017
We pray the naira continue gaining strength!

1 Like

Re: Naira Fell To #470 Per Dollar by Nobody: 7:06pm On Feb 23, 2017
Seems you're used to the mediocrity already. Anything less than $1 to N158 or N216 will be tantamount to failure by this administration.
Jesusloveyou:
That is good.
But
Why 470 instead of 370?

6 Likes 2 Shares

Re: Naira Fell To #470 Per Dollar by Jokerman(m): 7:08pm On Feb 23, 2017
I believe things will get better with Osibanjo.... let the other man just remain wherever he is....

We patriotic Nigerians are OK with osibanjo and tired of the gift giver...
Re: Naira Fell To #470 Per Dollar by Splinz(m): 7:14pm On Feb 23, 2017
Omudia:
Seems you're used to the mediocrity already. Anything less than $1 to N158 or N216 will be tantamount to failure by this administration.

Abi o... at least if they can't fulfill their bogus promise of 1$=1#, let them yeyely return it the same way they met it.

2 Likes 2 Shares

Re: Naira Fell To #470 Per Dollar by SalamRushdie: 7:17pm On Feb 23, 2017
PassingShot:

Seems you feed with the "likes" you crave and get from your fellow kids here!

Haba boss .
Re: Naira Fell To #470 Per Dollar by hisgrace090: 7:19pm On Feb 23, 2017
Good news! and to God be the glory.
Re: Naira Fell To #470 Per Dollar by ExAngel007(f): 7:28pm On Feb 23, 2017
a very good new
Re: Naira Fell To #470 Per Dollar by okosodo: 7:31pm On Feb 23, 2017
I just checked, still 510
Re: Naira Fell To #470 Per Dollar by Kabir2Mohammad(m): 7:36pm On Feb 23, 2017
weldone Osibanjo
Re: Naira Fell To #470 Per Dollar by PassingShot(m): 7:45pm On Feb 23, 2017
SalamRushdie:


Haba boss .
You'll do well for yourself if you always address the topic. You'll learn better by doing so.
Re: Naira Fell To #470 Per Dollar by PassingShot(m): 7:47pm On Feb 23, 2017
Splinz:


Abi o... at least if they can't fulfill their bogus promise of 1$=1#, let them yeyely return it the same way they met it.
Where is the evidence of that promise?

1 Like

Re: Naira Fell To #470 Per Dollar by Thewrath(m): 7:57pm On Feb 23, 2017
PassingShot:

Where is the evidence of that promise?
See question o!
We are not all foolish you know.
http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/

1 Like

Re: Naira Fell To #470 Per Dollar by Jesusloveyou: 8:12pm On Feb 23, 2017
Omudia:
Seems you're used to the mediocrity already. Anything less than $1 to N158 or N216 will be tantamount to failure by this administration.
so becos your brain is made of indomie.
You want the new policy to work like miracle or by fire .
Just the first day of the new policy, you ipods want the dollar to be less 150.
Ipods sef, with their ogogoro head.

5 Likes 2 Shares

Re: Naira Fell To #470 Per Dollar by PassingShot(m): 8:24pm On Feb 23, 2017
Thewrath:

See question o!
We are not all foolish you know.
http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/
If you're not indeed foolish, bring us the contents of that report and show us Buhari's words.

2 Likes 1 Share

Re: Naira Fell To #470 Per Dollar by 989900: 8:30pm On Feb 23, 2017
We had some similar discussion earlier . . . It can crash to under N400 if the government does the right thing.

The hike is artificial, fuelled by speculation, greed, fraud, cluelessness, hoarding, and e.t.c.

I heard CBN was prepared to sell $500m on Monday, but the banks could only come up with cash for $370m.
Brent trading at $54 today . . . fingers crossed, hoarders could get burnt.



1 Like

Re: Naira Fell To #470 Per Dollar by Thewrath(m): 8:33pm On Feb 23, 2017
PassingShot:

If you're not indeed foolish, bring us the contents of that report and show us Buhari's words.
Is it not an accredited media outlet?
Go to court if you feel got it wrong,it shouldn't be true only when it favours APC,like its a gift if it's from APC and a crime if it's from PDP!
If you are not satisfied after court hearing,Direct your questions to Abuja house in London,where your illiterate lies!

1 Like 1 Share

Re: Naira Fell To #470 Per Dollar by 989900: 8:36pm On Feb 23, 2017
okosodo:
I just checked, still 510

Check again.
Re: Naira Fell To #470 Per Dollar by mizmia: 8:56pm On Feb 23, 2017
okosodo:
I just checked, still 510
On what platform? Because even Abokifx is showing 495.
Re: Naira Fell To #470 Per Dollar by adexdon(m): 9:20pm On Feb 23, 2017
osinbajo at work
Re: Naira Fell To #470 Per Dollar by PassingShot(m): 9:20pm On Feb 23, 2017
Thewrath:

Is it not an accredited media outlet?
Go to court if you feel got it wrong,it shouldn't be true only when it favours APC,like its a gift if it's from APC and a crime if it's from PDP!
If you are not satisfied after court hearing,Direct your questions to Abuja house in London,where your illiterate lies!
So, you fail to prove you're not what you claimed you're not..
grin grin grin

1 Like 1 Share

Re: Naira Fell To #470 Per Dollar by AndyCole16(m): 12:24am On Feb 24, 2017
989900:
We had some similar discussion earlier . . . It can crash to under N400 if the government does the right thing.

The hike is artificial, fuelled by speculation, greed, fraud, cluelessness, hoarding, and e.t.c.

I heard CBN was prepared to sell $500m on Monday, but the banks could only come up with cash for $370m.
Brent trading at $54 today . . . fingers crossed, hoarders could get burnt.



Honestly, you are my best nairaland financial analyst so far. I always look forward to hear what your take is on financial and economy. I started reading your post early last year. You also seem neutral. Big ups cool cool

2 Likes

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