Naira Continues Appreciation Against USD At Forex Market - Business

Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,151,147 members, 7,811,240 topics. Date: Sunday, 28 April 2024 at 07:27 AM

Naira Continues Appreciation Against USD At Forex Market - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Continues Appreciation Against USD At Forex Market (45009 Views)

Naira Depreciates By N64 Against Dollar At FOREX Market / Naira Depreciation: USD Supply Drops By 42% At FOREX Market Despite Binance Exit / Naira Keeps Depreciating Against USD (2) (3) (4)

(1) (2) (3) (Reply) (Go Down)

Naira Continues Appreciation Against USD At Forex Market by AmazingGenius: 4:17pm On Mar 16

The Naira ended last week on a positive note as it continued its appreciation against the US Dollar at the foreign exchange market.

FMDQ data showed that the Naira appreciated to N1,602.75 on Friday from N1608.98 recorded on Thursday.

This represents a N6.23 gain compared to the N1,608.98 recorded the previous day.

The development comes despite the USD transactions plunged by 44.7 per cent to $137.43 million from $248.75 million on Thursday.

At the parallel market, the Naira traded between N1,610 and 1,620 per USD.

DAILY POST reports that all through last week, the Naira had settled at an average of N1,608 per USD.

On Thursday, the Central Bank of Nigeria in a circular warned that commercial banks should desist from profiting through Naira revaluation.

Recall that between June last year and March 15 2024, CBN had floated the Naira twice which saw the Country’s currency trading at N1,602.75 per USD from N460 in May 2023.

https://dailypost.ng/2024/03/16/naira-continues-appreciation-against-usd-at-forex-market/

16 Likes 4 Shares

Re: Naira Continues Appreciation Against USD At Forex Market by kcprince: 4:24pm On Mar 16

I pray it comes down to some decent numbers like 1k or 900.

Usually the best time to buy dollar yearly is between February and first week of April. It is attributed to the Chinese new year holiday where factories stop working in China. I am surprised we witnessed a rise instead this year. What will then happen between September and December when dollar demand is highest?

65 Likes 6 Shares

Re: Naira Continues Appreciation Against USD At Forex Market by jesmond3945: 5:08pm On Mar 16

kcprince:
I pray it comes down to some decent numbers like 1k or 900.

Usually the best time to buy dollar yearly is between February and first week of April. It is attributed to the Chinese new year holiday where factories stop working in China. I am surprised we witnessed a rise instead this year. What will then happen between September and December when dollar demand is highest?

it wont. it is pegged at 1300

18 Likes 2 Shares

Re: Naira Continues Appreciation Against USD At Forex Market by Melagros(m): 5:37pm On Mar 16

COMRADES, for nairaland ba? Go and check only the price of bread for market and tell me

38 Likes 3 Shares

Re: Naira Continues Appreciation Against USD At Forex Market by peleson1: 8:02pm On Mar 16

Naira is floating

5 Likes 1 Share

Re: Naira Continues Appreciation Against USD At Forex Market by Cindypresh(f): 8:39pm On Mar 16

Until it gets down to #216=$1

Anything more than that is unacceptable, tinupoo and Apc are all failures

125 Likes 8 Shares

Re: Naira Continues Appreciation Against USD At Forex Market by JobZoneNews(m): 8:46pm On Mar 16

We hope this continues this way. Nigeria will become better.

8 Likes

Re: Naira Continues Appreciation Against USD At Forex Market by Arobaga: 8:50pm On Mar 16

So from 1608 to 1602 na appreciation?

Naira gained N6 before three days dollar go drink viagra high like witch

Na only Nairaland naira dey make gain but prices of food and products still remain the same

116 Likes 4 Shares

Re: Naira Continues Appreciation Against USD At Forex Market by iichidodo: 8:51pm On Mar 16

This message goes to Tinubu from an erudite economic scholar like me. "Abandon the naira and use CFA, thank me later"...

7 Likes 1 Share

Re: Naira Continues Appreciation Against USD At Forex Market by Umueme: 8:51pm On Mar 16

Who else feels this is just a case of "the more you look, the less you see"

Not being a pessimist, but why isn't pound dropping like dollar? I just feel like government is just attacking dollar alone, and it won't last. I pray I'm wrong though

#MyOpinion

16 Likes 1 Share

Re: Naira Continues Appreciation Against USD At Forex Market by HateBigots: 8:52pm On Mar 16

... Tinubu and APC said $1 = #200 is not acceptable.
Now APC minions are celebrating #1600.

Bunch of 🤡

80 Likes 5 Shares

Re: Naira Continues Appreciation Against USD At Forex Market by Tecnophone: 8:52pm On Mar 16

Nice development but not impressed.

8 Likes

Re: Naira Continues Appreciation Against USD At Forex Market by PussyOdour(m): 8:52pm On Mar 16

Anything not less than 200 and something that the fóolish idîotic useless APC government came and met is a big joke.

The iragbiji drunkard and that skeletal daura dullllard are all useless and fóolish

15 Likes 2 Shares

Re: Naira Continues Appreciation Against USD At Forex Market by 96ACE: 8:53pm On Mar 16

Just jejely take it back to where Buhari left it.

20 Likes 2 Shares

Re: Naira Continues Appreciation Against USD At Forex Market by Badgers14: 8:53pm On Mar 16

N216 = $1 good enough for you?

14 Likes 1 Share

Re: Naira Continues Appreciation Against USD At Forex Market by CalabarPikin: 8:53pm On Mar 16

Hmmm

No be only appreciate na appropriate

9 Likes 1 Share

Re: Naira Continues Appreciation Against USD At Forex Market by tefishy(m): 8:53pm On Mar 16

No be statistics we go chop

4 Likes

Re: Naira Continues Appreciation Against USD At Forex Market by jmoore(m): 8:54pm On Mar 16

1,600 is appreciation? Where was it last year July?

8 Likes 1 Share

Re: Naira Continues Appreciation Against USD At Forex Market by mcprince32(m): 8:54pm On Mar 16

When Naira appreciates, will price of goods come down?

6 Likes

Re: Naira Continues Appreciation Against USD At Forex Market by Gangster1ms: 8:55pm On Mar 16

Tinubu met it at 400!
Another news abeg

12 Likes 2 Shares

Re: Naira Continues Appreciation Against USD At Forex Market by jojothaiv(m): 8:56pm On Mar 16

Clap hand for Jesus.

But this isn't a great news, take the USD to what we have in the first place.

Immortalcrown and I are not impressed.

7 Likes 3 Shares

Re: Naira Continues Appreciation Against USD At Forex Market by osuofia2(m): 8:57pm On Mar 16

Apc biko take us back to the PDP years of 199 to a dollar

11 Likes 1 Share

Re: Naira Continues Appreciation Against USD At Forex Market by Gobdddd(m): 8:58pm On Mar 16

Weekends, USD closes after losing to the Naira.

Weekdays, it regains all it lost.

This is what you 1 step forward, 1 step backwards means.

Congratulations to Tinubu

7 Likes

Re: Naira Continues Appreciation Against USD At Forex Market by Itiskdg121(m): 8:58pm On Mar 16

Gradually
We are getting there

Re: Naira Continues Appreciation Against USD At Forex Market by Skyborn: 8:58pm On Mar 16

People expecting naira to fall below 1k per dollar don't understand what's going on.
Naira is officially 1500 per dollar.
It can't fall below that.

8 Likes

Re: Naira Continues Appreciation Against USD At Forex Market by dickt1(m): 8:58pm On Mar 16

Tinubu's policies are finishing us, yet some persons are clapping for him with no hope of respite in sight

1 Like

Re: Naira Continues Appreciation Against USD At Forex Market by meum: 8:59pm On Mar 16

APC please get our dear Naira back to N199 per dollar where you guys met it. We are not asking for too much

Note N216 used during the campaign was black market rate. They used that to make it look high.

5 Likes 1 Share

Re: Naira Continues Appreciation Against USD At Forex Market by id4sho(m): 8:59pm On Mar 16

We want real appreciation not this cut and join trash angry

I mean less than 1K.

BATnomics undecided

2 Likes

Re: Naira Continues Appreciation Against USD At Forex Market by ogbonti: 8:59pm On Mar 16

naira don drink man power grin

Re: Naira Continues Appreciation Against USD At Forex Market by dickt1(m): 8:59pm On Mar 16

kcprince:
I pray it comes down to some decent numbers like 1k or 900.

Usually the best time to buy dollar yearly is between February and first week of April. It is attributed to the Chinese new year holiday where factories stop working in China. I am surprised we witnessed a rise instead this year. What will then happen between September and December when dollar demand is highest?

Tinubu's policies are finishing us, yet some persons are clapping for him, with no hope of respite in sight

4 Likes

Re: Naira Continues Appreciation Against USD At Forex Market by UncleKoboko: 9:00pm On Mar 16

Re: Naira Continues Appreciation Against USD At Forex Market by BannedUser: 9:03pm On Mar 16

What kind of appreciation is this?

5 Likes

(1) (2) (3) (Reply)

What Eden1747(f) Did Not Tell Us About Her "Humilation" At ECOBANK Badagry Today / Dollar Is Back To Normal On Google, Sigh :-( / Nigerian Loan Website That Can Provide 50 - 100K Without Collateral

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 20
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.