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Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window (17922 Views)

Naira Strengthens Against The Dollar, Sells At N1400/$ On The Parallel Market / Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window / Forex Transactions On Investors & Exporters Window Hit $7.62bn (2) (3) (4)

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Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Ofunaofu: 7:59pm On Jun 21, 2023
pquaver:


All this long lamentations because we no vote obi.. Get it into your thick skull.. Obi is theworst of them all..


at least he would allow the poor to breathe, and not suffocate them
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by easytig(m): 8:01pm On Jun 21, 2023
The idiotic drug lord wants to eliminate the low income class at all costs,even the rich are feeling the heat one way or the order
docsholz:
These man's policies will only make the rich richer and the poor poorer
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by TheGoodJoe(m): 8:03pm On Jun 21, 2023
adioolayi:
I see it stabilise at #600 ...


Basic economics disagrees with you.

The more the demand for a product, the higher its price.

With Nigeria being an import dependent country, the demand for forex will stay up, which means the price of dollars will increase, not decrease.
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by TheGoodJoe(m): 8:06pm On Jun 21, 2023
scally11:
Nigerians are the most st....d people on earth. Before the removal of subsidy on petrol they already removed on diesel, gas, kerosene and what did they do with the money? Ur guess is as good as mine. This past few days they have been hailing tinubu as the best thing after macdonalds while students are crying now. No forex for school fees. We tell them before, tinubu go tax poor to pay rich. While some people go dey shout on your mandate

Remember, millions of Nigerians kicked against this government by voting against it. So, some Nigerians are stupid, not Nigerians.

The praise singers are those wiping the stains of corn soups from their mouths.

1 Like

Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Tianamen1: 8:07pm On Jun 21, 2023
Blaze14k:


Don't you think before the president tax people that drive cars he should build alternative means of transportation like train stations. I believe the country u live in have the necessary infrastructure to make your life easier. We spend more and earn less.. I believe he should make the country more productive to balance economy

My comment stressed on taxing people with multiple cars and not people with just one car. Right now, most Nigerians pay VIO an annual flat fee right. Increase that fee for people with multiple cars. After all, they are the ones finishing the dollars and making the Naira get devalued.
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by TheGoodJoe(m): 8:09pm On Jun 21, 2023
Tianamen1:
Nigerians love effizy too much so that no economic progress can be made.
Taxing houses, cars, clothes, and phones is the easiest way to stabilise the Naira. Tax things that are imported that are not necessary. If a family has two cars, they should pay a small tax. Once the family buys a third car, that third car should be taxed heavily. Every additional car should be taxed at a higher rate. The same goes for houses. So far, a house is not a rental. Every additional house must be taxed heavily.

Tax revenues must then be used on basic education, housing, or healthcare for everyday Nigerians.


That will only drive the prices of goods up. The only way to solve this problem is to boost production by investing heavily in the poor class who are the only ones that can get their hands dirty to work and produce.

Any means of feeding the rich will drive the cost of things higher.

You can't tax your way out of an economic crisis.
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by TheGoodJoe(m): 8:10pm On Jun 21, 2023
pquaver:


All this long lamentations because we no vote obi.. Get it into your thick skull.. Obi is theworst of them all..

Story.

Continue spreading lies.

A man who never stole government funds and saved excess for the next government is the best and can't be the worst when compared to serial looters.

1 Like

Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Tianamen1: 8:12pm On Jun 21, 2023
TheGoodJoe:



That will only drive the prices of goods up. The only way to solve this problem is to boost production by investing heavily in the poor class who are the only ones that can get their hands dirty to work and produce.

Any means of feeding the rich will drive the cost of things higher.

You can't tax your way out of an economic crisis.


It is challenging to boost productivity. Nigeria needs years of investment in basic education to catch up. We need to focus on reducing expenditures first.
Your last statement is highly foolish.
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Crvrider: 8:22pm On Jun 21, 2023
pquaver:


All this long lamentations because we no vote obi.. Get it into your thick skull.. Obi is theworst of them all..

You're judging someone that is not your president, on what ground? Remind me again as at today where your president is?
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by moneyissweet(m): 8:23pm On Jun 21, 2023
You are a good writer,join Yahoo and make too much money.... No waste this talent.


chatinent:
Fingers crossed..


All the policies thus far have been a drop in the bucket when it comes to reducing poverty.

During Jona's administration, when the exchange rate was ₦119 to a dollar, all hell broke loose. Satan had to rent a place in the outskirts of hell. Now it costs an arm and a leg to buy fuel and we call it a renewed hope! Wow! We are really developing backwards! The ironies in the “change“ they preached were real!

I told y’all that it shouldn't be all about tribalism during elections but every tribes went for na my brother, na my brother. Now see am, your brother no give a flying f about you im (unknown abi adopted) brother. Joke on you. Lol.

I heard they were selling a new lease on life but the penury-stricken was only mandated to stand on existing mandates gidigban while other are looking for stolen mandates. Are you still standing abi you say make you sit down small? 😁 There's a glimmer of light at the end of the tunnel for the corrupt political class....while for the masses? Dem never see torch sef.


No dice. Our federalism, which was already burning a hole in our pockets, has now gone and added insult to injury by giving a whopping 100% raise to the executives and judiciary, not to mention a selected few legislators who were also included in the gravy train. The subsidy removal came without any backup plan such as raising the minimum wage, leaving us high and dry.

We are fools. We are like pawns always watching being checkmated. We are puppets. We are placed in the stage light for the bourgeoisies to merry and have a good day! Do we have a choice? Nay! We are educated but yet illiterate. I am happy to be a fool too; a fool who recognised the tomfoolery. Some grew wise in their foolishness. They are happy they are fools who can fool other fools. A tale of many fools fighting for those who fool them! Dear foolish Mufasa!😁

My suggestion is an increment of the minimum wage. Abi? Since we are all in for this death sentence of a country! Ngwa, fair Chatinent, pray tell! 😊 The minimum wage should be a fair shake, not chicken feed. It should be a decent chunk of change, not peanuts. It's time to pay people what they're worth, not shortchange them. A minimum wage of ₦150k would be a game-changer, not small potatoes of ₦30k. Who even pay!

While the masses? Still suffering and keep shouting "on your mandate I stand gidigban" while suffering and searching for Twitter giveaways. Keep on standing gidigban and swallow the issues you have when Nigeria happens to you, my good man.

I just also remembered Fela. Now think of this...if by then Fela was preaching against bad governance...I mean then ooo...some 25 years ago, now imagine yourself shouting "on your mandate I stand gidigban" and how not-mad people see you. 😁 Joke on me.

Even if you decide to be wicked, be wicked responsibly naw. Which one bi say you wicked and you wan wicked beautiful unborn kids of yours?

Well...

It seems that the ongoing push for a particular candidate in Nigeria based on tribal affiliations is bearing rotten fruit for the nation when the tree hasn't even started growing.



The truth is all they said were lies. I just discovered that you and I will suffer together, my good man.

Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Streetdoctor: 8:32pm On Jun 21, 2023
easytig:
I walked round the hood and a ram seller told me he has sold only one ram at a loss out of the sixteen he brought from the north.all his customers the previous years are no where to be found.people price his rams,and just walk away with renewed hopelessness
D beggers and the sellers of their of their properties to do owambe are d ones suffering it most
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by adioolayi(m): 8:35pm On Jun 21, 2023
TheGoodJoe:


Basic economics disagrees with you.

The more the demand for a product, the higher its price.

With Nigeria being an import dependent country, the demand for forex will stay up, which means the price of dollars will increase, not decrease.

I agree, the more the demand, the higher the price...

The other part you failed to mention is where you have price equilibrium...where higher demand will not increase the price, because there is a balance of supply. This is also basic Economics. .

When this is achieved, those that truly needs FX for importations, foreign investors that wants to repatriate their profits and other genuine cause like traveling, international school fees and all will be the ones in FX market...while those FX trading speculators will leave the market.... gradually..these together with other economic policies that attracts investors that will bring more FX into the country will ensure supply is even more than demand..and this will ultimately begin to strengthen the Naira against the dollar
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Bringbackmandat: 8:37pm On Jun 21, 2023
hopexter:


Auntie you have no words to mark. Tinubu will be better than all the presidents you’ve grown up to know, watch and see undecided
nansens!
Tinubu will be the worst president of this country.
#renewedsurfer
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Bringbackmandat: 8:42pm On Jun 21, 2023
I was surprised to see some illiterates celebrating the appointment of service chiefs as if that will make one naira to 5 dollar.
Many people will wish Buhari come back because of the surfering tinubu will put them in.

1 Like 1 Share

Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by lexy2014: 8:46pm On Jun 21, 2023
NUJABEZ:
Not too bad. I would like to see a stable exchange rate, and if possible the money used in propping up if the Naira should be invested into pressing and capital matters.

We can only hope. I guess this website is the new Abokifx since Seun is promoting it

What are those "pressing and capital matters"?

Is it because of money used in propping up the naira that there's no money to invest in "pressing and capital matters"?

Isn't it this same APC that told nigerians that N200 was too high for a dollar?
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Winning123: 8:46pm On Jun 21, 2023
I will not suffer! You alone will since that is your wish.


chatinent:
Fingers crossed..


All the policies thus far have been a drop in the bucket when it comes to reducing poverty.

During Jona's administration, when the exchange rate was ₦119 to a dollar, all hell broke loose. Satan had to rent a place in the outskirts of hell. Now it costs an arm and a leg to buy fuel and we call it a renewed hope! Wow! We are really developing backwards! The ironies in the “change“ they preached were real!

I told y’all that it shouldn't be all about tribalism during elections but every tribes went for na my brother, na my brother. Now see am, your brother no give a flying f about you im (unknown abi adopted) brother. Joke on you. Lol.

I heard they were selling a new lease on life but the penury-stricken was only mandated to stand on existing mandates gidigban while other are looking for stolen mandates. Are you still standing abi you say make you sit down small? 😁 There's a glimmer of light at the end of the tunnel for the corrupt political class....while for the masses? Dem never see torch sef.


No dice. Our federalism, which was already burning a hole in our pockets, has now gone and added insult to injury by giving a whopping 100% raise to the executives and judiciary, not to mention a selected few legislators who were also included in the gravy train. The subsidy removal came without any backup plan such as raising the minimum wage, leaving us high and dry.

We are fools. We are like pawns always watching being checkmated. We are puppets. We are placed in the stage light for the bourgeoisies to merry and have a good day! Do we have a choice? Nay! We are educated but yet illiterate. I am happy to be a fool too; a fool who recognised the tomfoolery. Some grew wise in their foolishness. They are happy they are fools who can fool other fools. A tale of many fools fighting for those who fool them! Dear foolish Mufasa!😁

My suggestion is an increment of the minimum wage. Abi? Since we are all in for this death sentence of a country! Ngwa, fair Chatinent, pray tell! 😊 The minimum wage should be a fair shake, not chicken feed. It should be a decent chunk of change, not peanuts. It's time to pay people what they're worth, not shortchange them. A minimum wage of ₦150k would be a game-changer, not small potatoes of ₦30k. Who even pay!

While the masses? Still suffering and keep shouting "on your mandate I stand gidigban" while suffering and searching for Twitter giveaways. Keep on standing gidigban and swallow the issues you have when Nigeria happens to you, my good man.

I just also remembered Fela. Now think of this...if by then Fela was preaching against bad governance...I mean then ooo...some 25 years ago, now imagine yourself shouting "on your mandate I stand gidigban" and how not-mad people see you. 😁 Joke on me.

Even if you decide to be wicked, be wicked responsibly naw. Which one bi say you wicked and you wan wicked beautiful unborn kids of yours?

Well...

It seems that the ongoing push for a particular candidate in Nigeria based on tribal affiliations is bearing rotten fruit for the nation when the tree hasn't even started growing.



The truth is all they said were lies. I just discovered that you and I will suffer together, my good man.

Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by oloriooko(m): 8:47pm On Jun 21, 2023
How much a pound goes for now pls

Seun:
Pease be informed that the naira has officially dropped from ₦756.61 to ₦763.17 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 ₦763.17/$ this evening. You can check it here: https://fmdqgroup.com/exchange/

See the figures for yesterday below:
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by lexy2014: 8:47pm On Jun 21, 2023
hopexter:


Auntie you have no words to mark. Tinubu will be better than all the presidents you’ve grown up to know, watch and see undecided

How will he be the best president?

Wasn't it Tinubu that told us that buhari was nigerias only solution?

Which is he coming to solve again if Buhari solved all the problems?

1 Like 1 Share

Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Bringbackmandat: 8:47pm On Jun 21, 2023
When is salla celebration sef? Because nobody is buying Ram again.
The fuel to convey the Rams from the north to the south alone is not a child play.
You buy fuel at 700 per liter yet you are saying tinubu is the best thing to happen to you after slice bread. Are you normal? Are you not a fool?

1 Like

Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Diddycsbsb: 8:50pm On Jun 21, 2023
God bless

Dr Alex Oti governor of Abia state for destroying the foundation of ndi agberos in Abia state,.. If you seeking for a place to hustle and develop a business please Abia state is now true the Gods own state.
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by lexy2014: 8:52pm On Jun 21, 2023
ThatCEO:
Make CNG conversion available, u no gree
Increase workers u say "God forbid." But una own was increased.

Ok, increase d salaries of ur nairaland goons, u say till "Gods time is d best." grin

I heard that all universities r now charging over 100k.


E be like Buhari go gaz come back o cheesy

Don't suffocate d poor..."so that I can choke them myself"

I was supporting this guy n I admire his boldness, but this one don come too much.

Boldness? That was your reason for seeing Tinubu as a good fit for president?
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by HNICEARTH: 8:54pm On Jun 21, 2023
Dey play!
Tinubunomics let the naira breeef

Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Seun(m): 9:03pm On Jun 21, 2023
HNICEARTH:
Dey play!
Tinubunomics let the naira breeef
Hmmm... I need access to that window.
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by jaxxy(m): 9:07pm On Jun 21, 2023
drlaykay:
This isn't "slightly".
Although we expect it to take time before the effect will be fully felt.
This daily updates isn't doing much.




The effect from propaganda or the effects from no work done?
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Germanjoe(m): 9:08pm On Jun 21, 2023
condralbedez:
Tinubu might be worst than Bunari, mark my words
Pls oh,God forbid.make it affect only those that voted him oh,that my own prayers.
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by routed: 9:12pm On Jun 21, 2023
Streetdoctor:

Lolssssss, what do u know about economy and markup
please explain what you know about this monetary policies decisions by the PBAT. I'm an economist, we are happy about what is going on with naira at the I&E window.
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Medley02(m): 9:12pm On Jun 21, 2023
Still bought it 804 from TRIBALPAY today. This thing no funny again sha
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by Oluwomonext212(m): 9:18pm On Jun 21, 2023
Exactly my fear ! Tinubu doesn’t care about how much you make, dude just want to tax you to the last drop of blood in your veins. Petroleum price rises without prior plan for the masses, naira floated without any concern on how the foreign students pay fees and feedings.
Truth be told, the poor summoned up 70% of the Nigerian population, and they are going to be suffer long for all these ill planned policies.


scally11:
Nigerians are the most st....d people on earth. Before the removal of subsidy on petrol they already removed on diesel, gas, kerosene and what did they do with the money? Ur guess is as good as mine. This past few days they have been hailing tinubu as the best thing after macdonalds while students are crying now. No forex for school fees. We tell them before, tinubu go tax poor to pay rich. While some people go dey shout on your mandate
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by routed: 9:22pm On Jun 21, 2023
Majority of you guys wishing doom on your nation are ignorant. While we await.
Mind you guys, the volume of trade at I&E window is less that $100 million till date. The policy makers are watching while the investors are jostling to inject greenback into the economy. Again, the government is yet to inject greenback. In few weeks from now, the economy activities will strengthen naira to ride the rate below N600/$.

All of these doomsday analysts know nothing about Monetary and Fiscal Policies.

All they hope for is to see their country and her leadership fail.
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by okuta007: 9:24pm On Jun 21, 2023
chatinent:
Fingers crossed..


All the policies thus far have been a drop in the bucket when it comes to reducing poverty.

During Jona's administration, when the exchange rate was ₦119 to a dollar, all hell broke loose. Satan had to rent a place in the outskirts of hell. Now it costs an arm and a leg to buy fuel and we call it a renewed hope! Wow! We are really developing backwards! The ironies in the “change“ they preached were real!

I told y’all that it shouldn't be all about tribalism during elections but every tribes went for na my brother, na my brother. Now see am, your brother no give a flying f about you im (unknown abi adopted) brother. Joke on you. Lol.

I heard they were selling a new lease on life but the penury-stricken was only mandated to stand on existing mandates gidigban while other are looking for stolen mandates. Are you still standing abi you say make you sit down small? 😁 There's a glimmer of light at the end of the tunnel for the corrupt political class....while for the masses? Dem never see torch sef.


No dice. Our federalism, which was already burning a hole in our pockets, has now gone and added insult to injury by giving a whopping 100% raise to the executives and judiciary, not to mention a selected few legislators who were also included in the gravy train. The subsidy removal came without any backup plan such as raising the minimum wage, leaving us high and dry.

We are fools. We are like pawns always watching being checkmated. We are puppets. We are placed in the stage light for the bourgeoisies to merry and have a good day! Do we have a choice? Nay! We are educated but yet illiterate. I am happy to be a fool too; a fool who recognised the tomfoolery. Some grew wise in their foolishness. They are happy they are fools who can fool other fools. A tale of many fools fighting for those who fool them! Dear foolish Mufasa!😁

My suggestion is an increment of the minimum wage. Abi? Since we are all in for this death sentence of a country! Ngwa, fair Chatinent, pray tell! 😊 The minimum wage should be a fair shake, not chicken feed. It should be a decent chunk of change, not peanuts. It's time to pay people what they're worth, not shortchange them. A minimum wage of ₦150k would be a game-changer, not small potatoes of ₦30k. Who even pay!

While the masses? Still suffering and keep shouting "on your mandate I stand gidigban" while suffering and searching for Twitter giveaways. Keep on standing gidigban and swallow the issues you have when Nigeria happens to you, my good man.

I just also remembered Fela. Now think of this...if by then Fela was preaching against bad governance...I mean then ooo...some 25 years ago, now imagine yourself shouting "on your mandate I stand gidigban" and how not-mad people see you. 😁 Joke on me.

Even if you decide to be wicked, be wicked responsibly naw. Which one bi say you wicked and you wan wicked beautiful unborn kids of yours?

Well...

It seems that the ongoing push for a particular candidate in Nigeria based on tribal affiliations is bearing rotten fruit for the nation when the tree hasn't even started growing.



The truth is all they said were lies. I just discovered that you and I will suffer together, my good man.


Fela - that wa s the only really detribalised Nigerian ever- his songs attacked Obasanjo and Abiola like crazy and those were yorubas - like him - he didn’t care about tribe but the issues of the day - how to make Nigeria and Africa great - today, on their mandate we shall stand as long as he is ronu … this rain ☔️ go beat everybody - surely!
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by routed: 9:28pm On Jun 21, 2023
okuta007:


Fela - that wa s the only really detribalised Nigerian ever- his songs attacked Obasanjo and Abiola like crazy and those were yorubas - like him - he didn’t care about tribe but the issues of the day - how to make Nigeria and Africa great - today, on their mandate we shall stand as long as he is ronu … this rain ☔️ go beat everybody - surely!
It will be rain of abundance and renewal.
Re: Naira Drops Slightly To ₦763.17/$ On Investors & Exporters' FX Window by okuta007: 9:29pm On Jun 21, 2023
HNICEARTH:
Dey play!
Tinubunomics let the naira breeef

we focus too much on the exchange rate

why not focus on rule of law

u think investors don’t see the useles

election we had ? where ballot boxes were

snatched and police helping to cover fraud ?

u think any billionaire in the west will like

to invest in such a place where the

judiciary is a joke and can’t protect their

investments? one of the major reasons

the rich all over the world flock to invest

in America is because they know system

works - no matter how highly placed you

are if you defraud your company or steal

from the government u will go to prison

and the money will be collected from you

BUT when The likes of Andrew Yakubu

are walking free and instead EFCC is

pursuing yahoo boys all around - how will

the dollar rise ? when foreign investors think

the country is aiding and abetting criminals?

1 Like

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