Dollar Hits All-time Low, Crosses N1,500 At Official Market - Business

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Dollar Hits All-time Low, Crosses N1,500 At Official Market - Business - Nairaland

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Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market / Naira Hits All-Time Low Of ₦1,152/$1 In Black Market / Investor & Exporter Window Crashes to All Time Low At N788.42/$1 (2) (3) (4)

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Dollar Hits All-time Low, Crosses N1,500 At Official Market by ogododo: 10:33am On Feb 13

There is no end in sight to the lingering foreign exchange crisis as dollar crossed over N1,500 at the official market.

The dollar closed at 1,534.39 at the official market on Monday, according to the FMDQ data.

This is the first time the dollar would be exchanging at over N1,500 since the crisis putting more pressure on businesses and importers.

This is despite the several measures and interventions by the Central Bank of Nigeria (CBN) aimed at stabilising the market.

However, local currency has defied all the interventions and continues to depreciate against the foreign currency.

Already the impact of this could be felt in several sectors with Nigerians experiencing alarming inflation and increased food prices.

Despite the dollar exchanging at N1,534 at the official market, it has stabilized at the unofficial parallel market exchanging between N1,450 and N1500.

https://dailytrust.com/dollar-hits-all-time-low-crosses-n1500-at-official-market/

16 Likes 2 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Nokio2: 10:36am On Feb 13

Asiwaju of floating naira
Come and see o..
Ebin pawa o
Greater tinubulation ahead!
Ex-paliative foodlums
Time to regroup
Food warehouse GPS location loading....

145 Likes 8 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by abhosts(m): 10:39am On Feb 13

Who exactly is benefiting from an ever falling Naira? What kind of cruelty is this? In 2019, a friend of mine based in the US invested $200,000(N72,000,000 at that time) into Nigerian real estate. Now his investment is valued at about N200,000,000($135,000). Despite the fact that his naira investment tripled in value, it was still not worth it from a dollar perspective. He is now regretting his decision because he would have been better off just leaving his $200k in the bank when you consider it is now worth 32 percent less. This is an example of foreign investor they claim to be courting.

272 Likes 18 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Kukutenla: 10:41am On Feb 13

Ah!!
Official market is now worse than parallel market
Which kind wahala be dis?
So who is funding the parallel market for it to have such stability?

63 Likes 5 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by TruthsFM: 10:41am On Feb 13

It will soon hit 2k per dollar soon

53 Likes 2 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Savedday2: 10:43am On Feb 13

This na less!

In weeks it will further depreciate because our leaders have lost clue on what to do.

26 Likes 3 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by bennybuhari: 10:46am On Feb 13

Position of CBN governor is not one that is given to someone on padi-padi level. Cardoso, Tinubu’s boy is incompetent for that position

145 Likes 9 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Savedday2: 10:46am On Feb 13

This na less!

In weeks it will further depreciate because our leaders have lost clue on what to do.

If you have the means, start saving in dollar instead of naira.

30 Likes 1 Share

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Godstiger(m): 10:48am On Feb 13

We are going higher everyday,only that in a negative way Who would save us from this mess

7 Likes 2 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by IduNaOba: 10:54am On Feb 13

Tinubu must complete his 8 years o
Then the north can have power again.
Let no igbo man near that seat o
Even me sef won't support Peter Obi.

The south West must finish this 8 years.

78 Likes 4 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by SuperEagles: 11:05am On Feb 13

Emefiele is competful as we can see

bennybuhari:
Position of CBN governor is not one that is given to someone on padi-padi level. Cardoso, Tinubu’s boy is incompetent foe that position

2 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by SuperEagles: 11:07am On Feb 13

Very true Tinubu 8 years as president of Nigeria is ordained from God.

IduNaOba:
Tinubu must complete his 8 years o
Then the north can have power again.
Let no igbo man near that seat o
Even me sef won't support Peter Obi.

The south West must finish this 8 years.

4 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Paraman: 11:09am On Feb 13

abhosts:
Who exactly is benefiting from an ever falling Naira? What kind of cruelty is this? In 2019, a friend of mine based in the US invested $200,000(N72,000,000 at that time) into Nigerian real estate. Now his investment is valued at about N200,000,000($135,000). Despite the fact that his naira investment tripled in value, it was still not worth it from a dollar perspective. He is now regretting his decision because he would have been better off just leaving his $200k in the bank when you consider it is now worth 32 percent less. This is an example of foreign investor they claim to be courting.

This is one of the reason foreign investors are not trooping to Nigeria

40 Likes 2 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by VeryWickedMan: 11:14am On Feb 13

BreconHills:
That's not the rate. The rate is unlikely to breach the 1490 again.

abibun:
yes now, maybe by now it would have been 2500 to $1

NinjaMetahuman:
verywickedliar lol.

Oya give us your aboki number I wan change dollar at that rate.

Codeye:
Stop lying!

2 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by NinjaMetahuman: 11:19am On Feb 13

VeryWickedMan:

you are still a liar.

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by killsmith(f): 11:21am On Feb 13

Nigerians should call for the resignation of cardoso.

14 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by CooldipoMPS: 1:05pm On Feb 13

1 Like

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by lilfreezy: 1:05pm On Feb 13

Nah bruv! This shit ain't funny. I see this dollar hitting 5k by December at this rate. APC zombies ụna well done o

28 Likes 3 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Chikel20000(m): 1:06pm On Feb 13

We go survive so?

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by bestman09(m): 1:06pm On Feb 13

Chai!!!
I sold 80 USDT at N1505 yesterday from my trading account to solve an issue thinking that the price is Ok and today I wanted to buy the same USDT to replace it and discovered that it is now N1539! Less than 18 hours.
The government is actually clueless by thinking that releasing USD once in a while will solve the problem.

36 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Kpartners: 1:06pm On Feb 13

“I do not want Peter Obi to ever become the president of Nigeria again. I know he has a saviour complex thinking he can still salvage Nigeria.

They are going to leave a carcass of a nation for him to come fix when they have plundered it to a wasteland. Then blame him for not waving a magic wand and fixing sh!t overnight.

Peter Obi warned everybody the last election was a f!ght for the survival of the country...Agbado people labelled him a divisive b!got.

Peter Obi should actually retire with his beautiful Aunty Maggie and let who wants to p£rish...p£rish! 🤷🏾‍♂️”

80 Likes 6 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Rebuke: 1:06pm On Feb 13

Congratulations to all APC supporters and Kudos to all Batists, for they shall now have 1dollar for 1 naira. Please, clap clap!!!!

17 Likes 1 Share

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by dapsoneh: 1:06pm On Feb 13

And pounds hit 1900naira.... Shege banza pro max

13 Likes 2 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by marlow1962(m): 1:06pm On Feb 13

Dollar is never coming now, the higher the dollar rate, the more useless your money becomes.

Better start working 2 or 4 jobs, cus Venezuela is going to be better than Nigeria soon.

You self no still gree for anybody, if conductor wn give you change, make he give you am in dollars.

26 Likes 2 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by obataokenwa(m): 1:06pm On Feb 13

Its really unfortunate. The compound I was living during my NYSC in 2011 in Lagos. Just remembered and called was gisting with some of them still there. Just reminiscing on some old stories and they all complained how things were bad. I said okay drop account make I dash dem small money. I changed £95 for 180,000 naira not quite long. See prayer/blessing Upandan like I've done miracle for them.

After that, I was just weak. I started thinking about the widows without no one to help and all. I became emotionally down. If the easier foods we have are so expensive now, what of the ones imported?

God help us even though the election was stolen.

50 Likes 6 Shares

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Uyi168: 1:07pm On Feb 13

...

Tinubu na disaster.
grin

4 Likes 1 Share

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by GreatrAnalyst: 1:07pm On Feb 13

Okay!

As the year progresses may we not result to the sayings of the elders that mouse is not squeaking like mouse and bird, not chirping like bird, especially when bad hands get to the throne.

3 Likes

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by HeadNigga: 1:07pm On Feb 13

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Matrix137(m): 1:07pm On Feb 13

Re: Dollar Hits All-time Low, Crosses N1,500 At Official Market by Klington: 1:07pm On Feb 13

Tinubu is the best brain.... In the mud.
He's a master strategist....in the mud.
He fixed Lagos....................in the mud.
He raised Lagos igr............ In the mud.
He knows how to assemble technocrats... In the mud.

Still beats my imagination how any human being with a functioning brain will wish Tinubu to this country. embarassed

38 Likes 1 Share

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