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Naira Shrinks To N1,135/$ At Parallel Market - Business - Nairaland

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Naira Appreciates To ₦‎1,650/$ At Parallel Market / Naira Trades At ₦1,730/$ At Parallel Market / Naira Drops At Parallel Market, Closes 900/$ At Official Window (2) (3) (4)

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Naira Shrinks To N1,135/$ At Parallel Market by ogododo: 7:46am On Nov 09, 2023
The naira on Wednesday weakened to N1,135 per dollar at the parallel section of the foreign exchange (FX) market.

The figure represents N15 or 1.35 percent depreciation compared to the N1,120 it traded yesterday.

Currency traders known as Bureau De Change operators (BDCs), who spoke to TheCable in Lagos, quoted the buying rate of the greenback at N1,120 and the selling price at N1,135 per dollar.

“The rate was highly volatile today,” a street trader who identified as Aliyu said.

A parallel market is characterised by noncompliant behaviour with an institutional set of rules

On the official market side, the naira depreciated by 0.55 percent to close at N874.71 to a dollar on Wednesday — from N869.91 on Tuesday.

According to data on FMDQ Securities Exchange, a platform that oversees official foreign-exchange trading in Nigeria, the highest price recorded within the day’s trading was N1097.50/$, before it settled at N745/$.

JP Morgan, a US multinational financial services firm, had projected the naira would trade at about N850 to the dollar before the end of 2023.

https://www.thecable.ng/naira-shrinks-to-n1135-at-parallel-market/

Re: Naira Shrinks To N1,135/$ At Parallel Market by Winner444: 7:48am On Nov 09, 2023
Every Nigerian ought to own a portion of the Federal Capital Territory. Abuja is our common heritage as Nigerian citizens.

The good thing is, Land no cost for Abuja, Na you wan buy am for Maitama. Even sef, Land no even cost for Maitama, Na you no buy am on time.

For as low as 800k, you can become a Landlord in Abuja. Don't take my word for it, you can click this LINK to see for yourself.

2 Likes

Re: Naira Shrinks To N1,135/$ At Parallel Market by Abrah20: 7:50am On Nov 09, 2023
2000 soon, insha Allah. If you have money sitting in the bank, it is time to venture into Land banking, else, the value of your money will be keep going down with the naira. With land banking, your investment grows like the dollar.

Every Nigerian ought to own a portion of the Federal Capital Territory. Abuja is our common heritage as Nigerian citizens.

The good thing is, Land no cost for Abuja, Na you wan buy am for Maitama. Even sef, Land no even cost for Maitama, Na you no buy am on time.

For as low as 800k, you can become a Landlord in Abuja. Don't take my word for it, you can click this LINK to see for yourself.

22 Likes 3 Shares

Re: Naira Shrinks To N1,135/$ At Parallel Market by BigBlackPreek(m): 7:54am On Nov 09, 2023
God have mercy on the masses!

4 Likes 1 Share

Re: Naira Shrinks To N1,135/$ At Parallel Market by M0H247: 7:54am On Nov 09, 2023
cool


This news gave me joy, abeg Zabira and Apex should not change rate oo

Go and learn profitable business

Exporters are cashing out

Freelancer are cashing out


People who should be trying to make money in Dollars are lazying about on Nairaland lamenting


.

17 Likes 1 Share

Re: Naira Shrinks To N1,135/$ At Parallel Market by Ikaeniyan0: 7:59am On Nov 09, 2023
#100 soon, insha Allah

12 Likes 2 Shares

Re: Naira Shrinks To N1,135/$ At Parallel Market by EyeCumInPiece: 8:00am On Nov 09, 2023
The druggie certificate forger will not rest until the economy is destroyed patapata.

Where are the 30k NL resident agbado miscreants? Come and work for your money and defend your oppressors.

100 Likes 6 Shares

Re: Naira Shrinks To N1,135/$ At Parallel Market by Racoon(m): 8:01am On Nov 09, 2023
sad Effects of a balabloo-blu-bulava heroin drug baron economics. Revenue collector and developer of Lagos economy doing his wonders @ the national scene.

46 Likes 5 Shares

Re: Naira Shrinks To N1,135/$ At Parallel Market by etcme(m): 8:09am On Nov 09, 2023
We have not started yet. We will deal with Obi and his Obidient group.

This shrinking and weakness owill favour me and my family.

On his mandate we stand.

On his Balablu I will stand.

84 Likes 5 Shares

Re: Naira Shrinks To N1,135/$ At Parallel Market by treesun: 8:10am On Nov 09, 2023
ogododo:


https://www.thecable.ng/naira-shrinks-to-n1135-at-parallel-market/

Government should allow Naira to dollar card transactions by banks, it will ease the
high demand on dollar. Instead of allowing bureau de change to control narratives!

12 Likes 2 Shares

Re: Naira Shrinks To N1,135/$ At Parallel Market by yesloaded: 8:10am On Nov 09, 2023
Re: Naira Shrinks To N1,135/$ At Parallel Market by free2ryhme: 8:10am On Nov 09, 2023
Re: Naira Shrinks To N1,135/$ At Parallel Market by gasparpisciotta: 8:11am On Nov 09, 2023
Only but a few are smiling.

PBAT promised a credit driven economy. He should encourage Banks to give credit out of their humongous profits

9 Likes

Re: Naira Shrinks To N1,135/$ At Parallel Market by sucess001(m): 8:11am On Nov 09, 2023
Lol. They said they will shock us with 500 naira to a dollar.

Like exchange rate is electricity 🤣

62 Likes 5 Shares

Re: Naira Shrinks To N1,135/$ At Parallel Market by yahoodetector: 8:11am On Nov 09, 2023
When I said it last week that the Naira will definitely fall further, these jokers (samsard and Trojan8) were busy arguing and saying I am not an investor.

APC Government is very predictable and anyone waiting for anything positive from them is living in Utopia. grin grin

I have shored up dollars and waiting for N2000+


Would have shored up more only say dollars scarce now apart from passive online income.

Athena6...hope you are seeing this?

12 Likes

Re: Naira Shrinks To N1,135/$ At Parallel Market by SouthSouth1914: 8:11am On Nov 09, 2023
Consequences of Bulabulumetrics!

9 Likes

Re: Naira Shrinks To N1,135/$ At Parallel Market by DaTruths: 8:11am On Nov 09, 2023
I said it earlier that the Only people that will sell their dollar are those that are dumber than Tinubu.

Tinubu don play una to sell una dollar.


I will say it again, before Easter next year, the Dollar would be around NGN 5,000.

It's about to go down.


Emilonukwus has finally favored me and my family.

47 Likes 4 Shares

Re: Naira Shrinks To N1,135/$ At Parallel Market by Geovanni412(m): 8:11am On Nov 09, 2023
Abrah20:
2000 soon, insha Allah

Next year it happens unless sth drastic changes

7 Likes 1 Share

Re: Naira Shrinks To N1,135/$ At Parallel Market by Artscollection: 8:11am On Nov 09, 2023
Dollar na your mate 4 street.
Don't listen to all those noise until we start balancing our trade deficit no Magic will solve it.

7 Likes

Re: Naira Shrinks To N1,135/$ At Parallel Market by Wittysmith(m): 8:11am On Nov 09, 2023
M0H247:
This news gave me joy, abeg Zabira and Apex should not change rate oo

Please what is "Zabira and Apex"?

1 Like

Re: Naira Shrinks To N1,135/$ At Parallel Market by BrodaBenad: 8:12am On Nov 09, 2023
Propaganda doesn't run a government


Yorubas are the most overated people in Nigeria no cap. this administration will prove it


Technocrats my ass

42 Likes 3 Shares

Re: Naira Shrinks To N1,135/$ At Parallel Market by schoolboymatt(m): 8:12am On Nov 09, 2023
I bought @ 1250 somes weeks ago. Now this!

this is a bad good news for me.
Re: Naira Shrinks To N1,135/$ At Parallel Market by OkCornel(m): 8:12am On Nov 09, 2023
Hmmm

2 Likes

Re: Naira Shrinks To N1,135/$ At Parallel Market by Nobody: 8:12am On Nov 09, 2023
No difference
Re: Naira Shrinks To N1,135/$ At Parallel Market by chris4gold(m): 8:13am On Nov 09, 2023
APC propaganda will spell doom on Naira.

6 Likes 1 Share

Re: Naira Shrinks To N1,135/$ At Parallel Market by Jamiubond009(m): 8:13am On Nov 09, 2023
grin
Re: Naira Shrinks To N1,135/$ At Parallel Market by Wittysmith(m): 8:13am On Nov 09, 2023
Abrah20:
2000 soon, insha Allah

You are praying that the Naira keeps depreciating because of your little gains. Na was oh!

7 Likes

Re: Naira Shrinks To N1,135/$ At Parallel Market by ATEAMS: 8:13am On Nov 09, 2023
Dammmn
Re: Naira Shrinks To N1,135/$ At Parallel Market by Mosba: 8:13am On Nov 09, 2023
If you are not happy go to court, we will challenge you inside the town hall that's different from, Balablu blu blu bulabah

11 Likes 1 Share

Re: Naira Shrinks To N1,135/$ At Parallel Market by Lanre4uonly(m): 8:13am On Nov 09, 2023
It is well.
Re: Naira Shrinks To N1,135/$ At Parallel Market by Dialpad: 8:13am On Nov 09, 2023
Na wah o ...

I hope no one will be stupid to buy if there is no genuine reason to.

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