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Naira Appreciates To N1,250/$ At Parallel Market - Business - Nairaland

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Naira Appreciates To ₦‎1,280/$ At Parallel Market / Naira Appreciates To ₦‎1,650/$ At Parallel Market / Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window (2) (3) (4)

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Naira Appreciates To N1,250/$ At Parallel Market by Islie: 8:13am On Apr 02
The naira, on Monday, appreciated to N1,250 per dollar at the parallel section of the foreign exchange (FX) market.

The FX rate is a 0.43 percent increase from the N1,280 recorded on March 29.

Currency traders in Lagos, also known as bureau de change (BDCs) operators, quoted the buying rate of the greenback at N1,230 and the selling price at N1,250 — leaving a profit margin of N20.

“The dollar keeps declining and it is affecting business but business is picking up gradually,” a currency trader named Aliyu said.

At the official section of the FX market, the local currency depreciated by 0.69 percent to N1,309.39/$ on March 28 — from N1,300.43/$ on March 27.

Meanwhile, Aminu Gwadabe, president, Association of Bureau de Change Operators of Nigeria (ABCON), on March 31, said the recall of members into the FX market has led to stability in the exchange rate.

“The reconsideration of the BDCs into the mainstream foreign exchange market has not only cleared illegal economic behaviours of hoarding, rent-seeking, round tripping and FX holding position, and led to the emergence of exchange rate convergence,” Gwadabe said.

Gwadabe also said the increase in FX inflows through the CBN’s monetary tools boosts foreign reserves, granting the apex bank the power to defend the local currency.

https://www.thecable.ng/naira-appreciates-to-n1250-at-parallel-market/amp?/naira-appreciates-to-n1250-at-parallel-market

17 Likes 1 Share

Re: Naira Appreciates To N1,250/$ At Parallel Market by proff010: 8:28am On Apr 02
Good one, by end of May dollar will be 500 to naira in Jesus name.

120 Likes 11 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by Melagros(m): 8:34am On Apr 02
proff010:
Good one, by end of May dollar will be 500 to naira in Jesus name.
And the prices of goods and services will remain high. So, where is the change that you promised us?

23 Likes 7 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by Edoreborn: 8:34am On Apr 02
How true is this oo cos we are tired of propaganda

17 Likes 2 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by helinues: 8:34am On Apr 02
Good

Those who have been hoarding the dollars have been exposed. More dollars in circulation would continue to crash the rate

52 Likes 1 Share

Re: Naira Appreciates To N1,250/$ At Parallel Market by helinues: 8:37am On Apr 02
Melagros:

And the prices of goods and services will remain high. So, where is the charge that you promised us?

Should government also be responsible for the prices of goods and services to come down..

We all blame government for everything while the citizens could even be more worse that the politicians self

118 Likes 7 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by tollyboy5(m): 8:37am On Apr 02
How black market com cheap pass official rate ?

16 Likes 2 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by tollyboy5(m): 8:39am On Apr 02
helinues:


Should government also be responsible for the prices of goods and services to come down..

We all blame government for everything while the citizens could even be more worse that the politicians self
Do you know why dangote and PH refinery are not working?

12 Likes 3 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by helinues: 8:39am On Apr 02
tollyboy5:

Do you know why dangote and PH refinery are not working?

As an insider, give us the full gist as me don't know

55 Likes 1 Share

Re: Naira Appreciates To N1,250/$ At Parallel Market by thesicilian: 8:40am On Apr 02
It can jump from 700 to 900 in less than 24hrs but when it's time to appreciate you'll be seeing a 50 naira decrease in 7 days

45 Likes 4 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by Foreverly02: 8:40am On Apr 02
Cool
Re: Naira Appreciates To N1,250/$ At Parallel Market by tollyboy5(m): 8:42am On Apr 02
helinues:


As an insider, give us the full gist as me don't know
So simple.
Nothing works with propaganda. Like some obidient do say, the refinery is not even near completion until 2026 orso. grin

6 Likes 1 Share

Re: Naira Appreciates To N1,250/$ At Parallel Market by Melagros(m): 8:43am On Apr 02
helinues:


Should government also be responsible for the prices of goods and services to come down..

We all blame government for everything while the citizens could even be more worse that the politicians self
Absolutely, yes, the government should be held liable, because the evil government of the apc had promised us heaven on earth. So, it should resign if it's incapable of fulfilling her promises

8 Likes 1 Share

Re: Naira Appreciates To N1,250/$ At Parallel Market by EmperorCaesar(m): 8:47am On Apr 02
Obidents, lets cry

PBAT is Progressive
Cardoso is Progressive
Nigeria is Progressive
Obidients are cheesy cheesy cheesy

33 Likes 4 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by helinues: 8:49am On Apr 02
Melagros:

Absolutely, yes, the government should be held liable, because the evil government of the apc had promised us heaven on earth. So, it should resign if it's incapable of fulfilling her promises

Have you given credit to the same government with the moves they have been making to stabilize things?

38 Likes 2 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by EmperorCaesar(m): 8:49am On Apr 02
Melagros:

And the prices of goods and services will remain high. So, where is the change that you promised us?

Your economics teacher failed u
What a pity

52 Likes 5 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by helinues: 8:51am On Apr 02
tollyboy5:

So simple.
Nothing works with propaganda. Like some obidient do say, the refinery is not even near completion until 2026 orso. grin

Which one is like some Obidient do say, you are not even proud to associate with the group anymore even though you are one of their members( Shame)..

How many flagyl have you taken after reading this news, the running stomach no go be here.

This na just the beginning of shitting intestines, cos that's what hatred for one's country do cause

25 Likes 2 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by Zonefree(m): 9:04am On Apr 02
helinues:


Have you given credit to the same government with the moves they have been making to stabilize things?
Stabilizer.

So, what did government stabilize?

A dollar sold for N700 before this government, it's now N1250. Is that stability in your village? undecided

Nonsense!

31 Likes 3 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by Melagros(m): 9:09am On Apr 02
EmperorCaesar:


Your economics teacher failed u
What a pity
Oh! APC's supporter, how much have you been bribed for this sh!t? When it was 1700 to a dollar I was buying a loaf of bread 1700, now you claimed on media that it is 1200, and I'm still buying the aforementioned commodity at the same price, (I'm talking about this morning) I bought a loaf of bread 1700. Tell us, where is the change? Is the change not only visible on nairaland? Blind druggist supporter, shame on you
My economics teacher bla bla bla me , thunder fire you there

18 Likes

Re: Naira Appreciates To N1,250/$ At Parallel Market by helinues: 9:10am On Apr 02
Zonefree:

Stabilizer.

So, what did government stabilize?

A dollar sold for N700 before this government, it's now N1250. Is that stability in your village? undecided

Nonsense!

You people should stop carrying bitterness come online daily. Nothing you guys would ever appreciate.

21 Likes 2 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by tollyboy5(m): 9:12am On Apr 02
helinues:


Which one is like some Obidient do say, you are not even proud to associate with the group anymore even though you are one of their members( Shame)..

How many flagyl have you taken after reading this news, the running stomach no go be here.

This na just the beginning of shitting intestines, cos that's what hatred for one's country do cause
You can't even prove me wrong lol. You sef knw sey Na propaganda refinery repair wey Dem use chop billions.
APC = All Promise Canceled

11 Likes 1 Share

Re: Naira Appreciates To N1,250/$ At Parallel Market by helinues: 9:14am On Apr 02
tollyboy5:

You can't even prove me wrong lol. You sef knw sey Na propaganda refinery repair wey Dem use chop billions.
APC = All Promise Canceled

Why are you so ashamed to associate with the Obidients group?

Are they now an abomination?

12 Likes

Re: Naira Appreciates To N1,250/$ At Parallel Market by tollyboy5(m): 9:16am On Apr 02
helinues:


Why are you so ashamed to associate with the Obidients group?

Are they now an abomination?
So anything not APC is obidient?? shocked
Because APC and LP are the only party in Nigeria wow!

I use to hear this thing about APC supporters now ive seen evidence.

7 Likes

Re: Naira Appreciates To N1,250/$ At Parallel Market by Donaldoni: 9:25am On Apr 02
Good news for all except piiggggs cheesy

11 Likes 2 Shares

Re: Naira Appreciates To N1,250/$ At Parallel Market by Zonefree(m): 9:29am On Apr 02
helinues:


You people should stop carrying bitterness come online daily. Nothing you guys would ever appreciate.

You want us to appreciate Naira depreciation? undecided undecided

10 Likes

Re: Naira Appreciates To N1,250/$ At Parallel Market by helinues: 9:32am On Apr 02
Zonefree:

You want us to appreciate Naira depreciation? undecided undecided

Una appreciation na inconsequential

7 Likes

Re: Naira Appreciates To N1,250/$ At Parallel Market by SalamRushdie: 9:33am On Apr 02
This is clearly a lie

3 Likes 1 Share

Re: Naira Appreciates To N1,250/$ At Parallel Market by helinues: 9:35am On Apr 02
SalamRushdie:
This is clearly a lie

Why not tell us the clearly truth as an insider

6 Likes

Re: Naira Appreciates To N1,250/$ At Parallel Market by Putindbutt: 9:49am On Apr 02
tollyboy5:

So simple.
Nothing works with propaganda. Like some obidient do say, the refinery is not even near completion until 2026 orso. grin
If PH refinery begins operation this month, you deactivate your moniker, if it doesn't, i deactivate my monika. deal?

12 Likes

Re: Naira Appreciates To N1,250/$ At Parallel Market by Putindbutt: 9:52am On Apr 02
Zonefree:

Stabilizer.

So, what did government stabilize?

A dollar sold for N700 before this government, it's now N1250. Is that stability in your village? undecided

Nonsense!
It was sold for 700 but you guys won't talk about the billions of dollars that was used to defend it.

21 Likes 1 Share

Re: Naira Appreciates To N1,250/$ At Parallel Market by Cosbyrich: 9:54am On Apr 02
Good news.

5 Likes

Re: Naira Appreciates To N1,250/$ At Parallel Market by Chicagograduate(m): 9:55am On Apr 02
Is it on paper or in reality?

3 Likes

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