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Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window (33480 Views)

Naira Appreciates To ₦‎1,280/$ At Parallel Market / Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window / Forex Transactions On Investors & Exporters Window Hit $7.62bn (2) (3) (4)

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Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by chloride6: 7:57pm On Jun 20, 2023
That’s the closing rate na.
Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by stampo: 7:57pm On Jun 20, 2023
What is wrong with you ?
So you will just accept 120/Dollar like that ?


It should fall to #56/Dollar..

Then we can say he has done well ..

1 Like

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by CLRF: 7:58pm On Jun 20, 2023
LordAdam16:
Seun,....

[b]You are part of the nation's intelligentsia. [/b]Act like it. You're not some no-name blogger whose sole priority is to reel out political talking points for breadcrumbs.

-Lord

Please avoid using the above bold, Nairaland is just an accidentally created platform, not intellectual created

5 Likes

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by Nobody: 8:00pm On Jun 20, 2023
ZUKKYY:
Im asking how much was exchange rate of dollars before the new government came in.
Na $756 una the celebrate undecided

I don't understand the celebration about this negative news. This is just unnecessary psychology.

4 Likes

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by eteebanky1: 8:01pm On Jun 20, 2023
neduboo:
How much then is black market price of 1$ to Naira

Black market no longer exist
Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by Procashtips(m): 8:04pm On Jun 20, 2023
Seun:
You can call customer support and show them the link

They have the right to sell at their own price.

You people thinj floating the naira was a good thing?

You guys don't produce nada, yet floated your currency.

Inflation is coming

2 Likes

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by cooljude(m): 8:04pm On Jun 20, 2023
Seun:
Pls be informed that the naira has appreciated from ₦770.38/$ to ₦756.61/$ during the last 24 hours. The Investors and Exporters FX window, which is the official market for trading the naira, and currently allows free floating of the naira, closed at ₦756.61/$ this evening.

You can check it here: https://fmdqgroup.com/exchange/

Should I be celebrating with this news? All this propaganda will fade very soon.

If our export does not improve, our currency will continue to fall.

1 Like

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by obi4eze(m): 8:05pm On Jun 20, 2023
grin

This is funny.
Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by Nobody: 8:07pm On Jun 20, 2023
The Government always forget they're the major earner of foreign exchange not the people, if you must float your currency, then you need the people to be the major earner of foreign exchange, which means you need to invest heavily in creating the enabling environment, right now everything is skyrocketed , power has plummet where I stay to less than 5hours a day, so wtf are you floating, it becomes cheaper to import than to produce, that means you export Jobs out too, I think if you fix power and security, you are 25% done in getting us out of the blues.

1 Like

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by ZUKKYY(m): 8:07pm On Jun 20, 2023
Daguga:


I don't understand the celebration about this negative news. This is just unnecessary psychology.
first pushing it to FP is unnecessary to me.let them bring it down to $150 befor i appreciate

1 Like

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by clockwisereport: 8:07pm On Jun 20, 2023
iCauseTrouble:
I am not as poor as your dad

You are wicked. See as you just take the guy to the cleaners

1 Like

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by Nobody: 8:09pm On Jun 20, 2023
ZUKKYY:
first pushing it to FP is unnecessary to me

It sounds like nairaland is trying to promote the Government's pretence.

1 Like

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by fk001(m): 8:14pm On Jun 20, 2023
Accessed:


There's so far PR can take the masses. Let the praise singers continue to pretend that all is well. The purchasing power of Nigerians is by far at its lowest rung. Most of these policies are ill-timed. Little or no palliatives to cushion the effects on the masses.

I really hope to be proven wrong, but Unifying the FX rate now is more calamitous than beneficial. It's like doing the right thing at the wrong time. You can't subject the naira to free market forces without ensuring we have a fair dollar supply over demand. Worst case scenerio, wait till the refineries take off, so that our dollar demand will reduce. So long as the demand for dollar continues to exceed the supply...we are on a jolly long ride.

Truth is most of us know it...but we are not ready to "hit him below the belt" because he's our own.


I agree with you. Especially your last paragraph and because SW has the largest share of the News platform he won't meet with much criticism like his predecessors instead the News outlets will sugarcoat and press him to divert people attention

1 Like

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by ZUKKYY(m): 8:15pm On Jun 20, 2023
Daguga:


It sounds like nairaland is trying to promote the Government's pretence.
seun is trying to promote the Government. Because say na West undecided

2 Likes

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by VeeVeeMyLuv(m): 8:15pm On Jun 20, 2023
E don happen o.... shocked shocked shocked shocked shocked shocked😭😭😱😱😱😱😭😭😭😩😩😩

Oh my God

Naira has been officially devalued.

Oh no....

My people brace up yourselves for maximum impact.

3 Likes

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by shinealight(m): 8:22pm On Jun 20, 2023
Runaway:
It should be 120/1dollar before I go appreciate am....

It doesn’t happen just because you wish it. You work for it by producing more of what you consume and producing more commodities for export, not just crude oil.
Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by Timmi: 8:26pm On Jun 20, 2023
LordAdam16:
Seun, the naked, continuous attempt to run interference for Tinubu's administration is nauseating.

Can you at least pretend to be fair or balanced?

There are topics referencing yesterday's drop from ~660 to ~770. You and your mods refused to move them to the FP.

Yet, three hours after the I&E window closed today, you're personally pushing a deliberately flawed narrative to whitewash a troubling development.

Tinubu met the rate at 460. The rate is currently 756. In only 3 weeks. Some would argue that is an early indictment of the so-called
Tinubunomics. But hell will freeze over before you draw attention to anything that remotely suggests that.

You are part of the nation's intelligentsia. Act like it. You're not some no-name blogger whose sole priority is to reel out political talking points for breadcrumbs.

-Lord

It is obvious you don't understand the economics of the foreign exchange. When the official rate was in the 440s, the government was subsidizing it. Hence those few rich folks that have access to the CBN are buying it on the back of common folks because the government absolves the difference.
By floating the currency, the government removes the subsidy allow the reserve to accrue.
I hope you and your so called likes understood it now and that's assuming you are genuinely interested in knowing.

2 Likes

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by VeeVeeMyLuv(m): 8:26pm On Jun 20, 2023
Manny21:
It is just a matter of time. This floating exchange rate will pauperize some people including bureau de change.
grin grin grin grin
U are too funny
This comment is underrated
Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by almarthins(m): 8:27pm On Jun 20, 2023
Seun:
Pls be informed that the naira has appreciated from ₦770.38/$ to ₦756.61/$ during the last 24 hours. The Investors and Exporters FX window, which is the official market for trading the naira, and currently allows free floating of the naira, closed at ₦756.61/$ this evening.

You can check it here: https://fmdqgroup.com/exchange/

Okay, may be before this one go leave office dollar go enter 2k naira. Who knows?

Nigeria rulers we hail thee!

1 Like

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by Emmanuel909090: 8:27pm On Jun 20, 2023
Seun:
Pls be informed that the naira has appreciated from ₦770.38/$ to ₦756.61/$ during the last 24 hours. The Investors and Exporters FX window, which is the official market for trading the naira, and currently allows free floating of the naira, closed at ₦756.61/$ this evening.

You can check it here: https://fmdqgroup.com/exchange/

Naira Depreciates not appreciates.

Naira is loosing value.

4 Likes

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by Pious101: 8:28pm On Jun 20, 2023
iCauseTrouble:
Una sha dey overhype this Tinubu with different fake news. Naira that I sold N765 per dollar few hours ago. grin
Abeg where u for dey sell?
Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by Leebeedo(m): 8:28pm On Jun 20, 2023
I talk am say illiterate plenty for this forum. Judging from the image you posted, $=680 on the 19th and then the same $=765 on the 20th and you are jubilating that the naira appreciated

1 Like

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by Leebeedo(m): 8:29pm On Jun 20, 2023
I talk am say illiterate plenty for this forum. Judging from the image you posted, $=680.20 on the 19th and then the same $=756.81 on the 20th and you are jubilating that naira appreciated. Continue you hear

1 Like

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by VeeVeeMyLuv(m): 8:29pm On Jun 20, 2023
Emmanuel909090:


Naira Depreciates not appreciates.

Naira is loosing value.
pardon his manners
He is a Computer scientist not an Economist

4 Likes

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by article1: 8:31pm On Jun 20, 2023
iCauseTrouble:
I am not as poor as your dad
Mumu, keep deceiving yourself. You think your copy and paste dollar notes pictures will convince me from believing that you're a wretched nigga. As for my dad you refer to, I won't join 8ssue with you on that cos I'm not trained to insult elders.
Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by abuhusna1: 8:36pm On Jun 20, 2023
ZUKKYY:
Im asking how much was exchange rate of dollars before the new government came in.
Na $756 una the celebrate undecided
It was 750 but some cabal were buying it cheap from Central bank 450 and sell to the public for instant profit but now both the rich and the poor buy same price are you not happy about it
Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by Daviddoma(m): 8:37pm On Jun 20, 2023
Seun:
Pls be informed that the naira has appreciated from ₦770.38/$ to ₦756.61/$ during the last 24 hours. The Investors and Exporters FX window, which is the official market for trading the naira, and currently allows free floating of the naira, closed at ₦756.61/$ this evening.

You can check it here: https://fmdqgroup.com/exchange/
Until they return the stolen mandate B4 I can take anything serious from them.minds games undecided undecided

1 Like

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by Exceed15: 8:37pm On Jun 20, 2023
NL is gradually is turning to Phoenix site.

1 Like

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by YoungLionken(m): 8:39pm On Jun 20, 2023
article1:
Mumu, keep deceiving yourself. You think your copy and paste dollar notes pictures will convince me from believing that you're a wretched nigga. As for my dad you refer to, I won't join 8ssue with you on that cos I'm not trained to insult elders.

Don't generalize your limitation son. You don't have doesn't mean same for others. Work and pray against poverty, it's worse than HIV...

2 Likes

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by SKIBiNSKI(m): 8:42pm On Jun 20, 2023
Elijayy:
We're just starting

Although it'll depreciate with time
I believe so
Believe? grin grin grin i believe i can flly too.

1 Like

Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by ojtech8291: 8:43pm On Jun 20, 2023
Even Tinubu will be mad at this news, Walahi...😂😂
Re: Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window by nextstep(m): 8:50pm On Jun 20, 2023
LordAdam16:

Tinubu met the rate at 460. The rate is currently 756. In only 3 weeks. Some would argue that is an early indictment of the so-called
Tinubunomics

Yes it has changed, but that rate was artificial, in the sense that only a very small segment of Nigerians could realistically access dollar at 460. The 756 you're seeing is the real - market supported rate - what it should have been all along, and indeed was closer to what most Nigerians were getting.

The rate that Naira becomes will be a weighted average of the old (subsidized) rate and the parallel rate (weighted by the number of people who could access either). JPM seems to think 600, I'm thinking it would get worse, even going as high as 800, as multinationals with money currently trapped pull out their gains. Painful in the short term, yes, but the reason the naira is devalued is because we want to buy more than we produce as a country.

Same thing with fuel. We were all paying the higher rate for petrol (it just didn't come out of our pocket, but we were paying it in the lack of service and infrastructure). Now the hope is now that we won't be subsidizing neighbours or smugglers, we will see the gains of paying more out-of-pocket.

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