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Nairaland Forum / Nairaland / General / Business / Naira Bounces Back, Appreciates To N470/$ In Parallel Market (26509 Views)
Naira Appreciates To ₦1,280/$ At Parallel Market / Naira Appreciates To ₦1,650/$ At Parallel Market / Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window (2) (3) (4)
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Naira Bounces Back, Appreciates To N470/$ In Parallel Market by Doraty1(f): 2:08pm On Dec 02, 2020 |
The naira this morning reversed its two weeks loss to the dollar in the parallel market, appreciating by N20 to N470 per dollar. https://www.vanguardngr.com/2020/12/breaking-naira-bounces-back-appreciates-to-n470-in-parallel-market/amp/?utm_source=&utm_medium=twitter&__twitter_impression=true 13 Likes 3 Shares
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Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by nairavsdollars(f): 2:09pm On Dec 02, 2020 |
Just because Davido cried that he changed 1 dollar at N500, they quickly did abracadabra to being it to N470. Its going back to N600 138 Likes 10 Shares |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by Jostoman: 2:10pm On Dec 02, 2020 |
No be only bounce back na somersault. 169 Likes 7 Shares |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by Ehiscotch(m): 2:18pm On Dec 02, 2020 |
This should normally be bad news as a lower dollar to naira exchange rate encourages massive importation thus encouraging consumerism. But since we want all the borders opened and 1 dollar to one naira; let's embrace importation of everything from pencil to toothpick because no manufacturing sector can compete locally and internationally. I wish the dollar stays high but local production be ramped up to meet national demand and some products with which we have high comparative advantage (ability to massively supply) should be banned. 25 Likes 6 Shares |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by Nwadiuto247: 2:22pm On Dec 02, 2020 |
Ok |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by dawnomike(m): 2:26pm On Dec 02, 2020 |
Ehiscotch:You are right to shine extent as Nigeria is a consumer country but also look at it from the angle of depreciation of our GDP and GPI. It is better it stays low 11 Likes 1 Share |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by uptimum123(m): 2:33pm On Dec 02, 2020 |
Hmmmm Let's see what the coming days will look like 2 Likes |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by Ehiscotch(m): 2:36pm On Dec 02, 2020 |
dawnomike: Fluctuations in dollar prices wouldn't have mattered if we weren't a consumer nation in the first place. It needs to stay low because of the high inflation rate, yes. But our GDP is low because we all our sectors are redundant and our oil sector was affected by the pandemic. 14 Likes 5 Shares |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by SalamRushdie: 2:39pm On Dec 02, 2020 |
Arrant nonsense 10 Likes |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by DennisEche(m): 5:02pm On Dec 02, 2020 |
MCHEW, YOU CALL 470 BOUNCE BACK. A MAN WHO PROMISED TO MAKE 1 NAIRA EQUATE ONE DOLLAR. OGUN GO KILL ALL THE ZOMBIES THAT SUPPORTED AND STILL SUPPORTING THE DULLARD 59 Likes 2 Shares |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by Biglittlelois(f): 5:03pm On Dec 02, 2020 |
You call 470 naira to a dollar bouncing back What happen to #1=$1 that was promised in 2015 39 Likes 2 Shares |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by Roon9(m): 5:04pm On Dec 02, 2020 |
Hoarders how market 6 Likes 1 Share |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by sirabu: 5:04pm On Dec 02, 2020 |
The market forces are at play .............................. While the opposition are playing with our frustration about the economy. |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by Oxtonguy: 5:04pm On Dec 02, 2020 |
1 Like |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by TSBO: 5:04pm On Dec 02, 2020 |
Hopefully we eventually get a convergence between official and parallel rates. Interest rates need to go up. A high inflation currency at -14% real return. You are begging for exchange rate pressures. Hopefully, oil prices go up as well, that way, we may have more USD and stronger economic recovery, and can then focus on managing inflation (at least the money supply component) and stop using pro-growth platitudes (with some truism) as a flippant facade for financial repression. 10 Likes |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by FahBuLous: 5:05pm On Dec 02, 2020 |
Nonsense 2 Likes |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by donbenz(m): 5:05pm On Dec 02, 2020 |
Get out!!! |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by WalkerMichael(m): 5:05pm On Dec 02, 2020 |
it'll cross 600 before buhari leaves where did he take it from again please? 9 Likes 1 Share |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by Robnectar(m): 5:06pm On Dec 02, 2020 |
hmmmmm |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by billionman: 5:06pm On Dec 02, 2020 |
Reading the topic, I thought I would see 1 naira equal 1 dollar 6 Likes 1 Share |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by tensazangetsu20(m): 5:06pm On Dec 02, 2020 |
Ehiscotch:It's easy to sit behind a keyboard and talk. Have you tried exporting anything outside Nigeria before. Go and do that and come back and talk. 20 Likes |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by Deicide: 5:06pm On Dec 02, 2020 |
Na why them reject my payment from AliExpress be this? |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by KelB(m): 5:06pm On Dec 02, 2020 |
470 per dollar is bouncing back. Who did we offend in this country 27 Likes 1 Share
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Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by PastorandMentor(m): 5:06pm On Dec 02, 2020 |
What can we say? A failed government A failed Country The dullard is helpless right there in Asorock All he does is eat and shit. 7 Likes 1 Share |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by Mindlog: 5:06pm On Dec 02, 2020 |
Eyah...... |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by BigBizzy(m): 5:07pm On Dec 02, 2020 |
There is no bounce here. Its either N1 = $1 or the joke continues 12 Likes 1 Share |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by DrBrainstorm(m): 5:07pm On Dec 02, 2020 |
Ok |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by Factfinder1(m): 5:07pm On Dec 02, 2020 |
Is this soppsed to be a thing to be happy about what's the difference between 470 and 500? We celebrate soo much mediocrity in this country 12 Likes 1 Share |
Re: Naira Bounces Back, Appreciates To N470/$ In Parallel Market by vickydankal(f): 5:07pm On Dec 02, 2020 |
You see Buhari I know God is a merciful God But you see devil and social media they are not, They will certainly pay Buhari demurrage. 5 Likes 1 Share |
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