Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,153,037 members, 7,818,066 topics. Date: Sunday, 05 May 2024 at 06:44 AM

Naira Depreciates To ₦‎1,300/$ In Official Market - Business (6) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Depreciates To ₦‎1,300/$ In Official Market (23812 Views)

Naira Depreciates To N1,305/$ In Parallel Market / Naira Eyes N1,300/$ At Parallel Market As Speculators Offload FX / Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (Reply) (Go Down)

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by NOwazobia: 8:25am On Apr 24
StOla:


You are academically challenged.

Can currency exchange to a dollar appreciate from 1800 to 1000, as an upward movement?

Is that not a downward appreciation?

Olodo!

Why do you keep on defending and consolidating your ignorance...!

5 Likes 1 Share

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by tnerro1(m): 8:28am On Apr 24
The naira is weak and needs help, just like a big brother defending his younger brother, cardi b should come out openly and say he will defend the naira for the benefit of the masses. There is no shame in that.

P/s. Una go try throw small apology to Emefeli sha

4 Likes 1 Share

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by tctrills: 8:29am On Apr 24
StOla:
See them all creeping out of the obscurity imposed by their shame that the Naira did not fall as they anticipated.

Now they have all found their joy.
Your anger is misplaced. It should be with the Tinubu government that can't seem to do anything right.

2 Likes

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by theredaddy: 8:29am On Apr 24
dettolgel:


All I can read in your post is nothing but horse shit.

You could have stayed on topic and explained what the issues are and leave it at that.

Of course your day can't be complete without you making senseless comment. Can you tell us where you got the fact (through sample survey or census) that the "whole tribe want military to take over or Nigeria should fail at all cost.... "?

I really do not understand how you manage to get to the other side of the road safely on daily basis with this your level of reasoning.


I cross the road with my eye opened common sense suppose tell you

Maybe if i was born yesterday i would have believed explaining or shalaying will solve anything when dealing with Obedient/children of hate

I mean what explanation has not being giving to sensitize the PUBLIC, besides why do we have to convince people to think good towards there country,

No matter the number of times arsenal as failed me, i am still hopeful & optimistic arsenal will carry cup every season ... i can't just fathom why a Nigerian living inside Nigeria wil be jubilating and speculating the downfall of his/her country ... is that not madness
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by tnerro1(m): 8:31am On Apr 24
NOwazobia:
Why do you keep on defending and consolidating your ignorance...!

Ignore him, he ate agbado for breakfast lunch and dinner, he is not in his right senses

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by sonnie10: 8:33am On Apr 24
Cardi B only succeeded in doing palliative for BDC people with our foreign reserve.

2 Likes 1 Share

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by theredaddy: 8:34am On Apr 24
zinaunreal:


The drug pusher is a failure . Nobody told him? Keep on with your sentiment. The most useless president after buhari


You are entitled to your opinion, but at the end of the day his achievement are there to define him .... anybody for ur generation get 1st class

The man has 4yrs , he never even complete 1yr only fools will make such hasty judgement
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by ThunderFireAgba: 8:34am On Apr 24
RuggedBiafran:
Enjoy bro ..

Na Dem hunger wan kill and they will be pushing Propaganda on empty stomachs.

Will they now say it's Peter Obi that caused the $$ to rise?

It shows how they are governed in that Region.. na Propaganda be their food. That is why HUNGER wan kee them.



Bro, no relent. Dey apply pressure
Thunderfire Agbadorians worldwide

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Gboom: 8:35am On Apr 24
AqualinaXYZ:



Make i no lie I’m so happy dollar is going back up



Infact nobody happy pass me and I pray a dollar should hit 10k before august



Has price of goods come down since dollar went from 1900 to 1100?



Since they all claimed to have restocked when dollar was 1900 then make them maintain same price now that dollar is going back like who drink viagra



For some of us earning in dollar since price of niara goods has refused to come down let dollar rise make we gain in dollar
I agree 100% with you.
Law of gravity is abnormal to Nigerians
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by zinaunreal(m): 8:43am On Apr 24
theredaddy:



You are entitled to your opinion, but at the end of the day his achievement are there to define him .... anybody for ur generation get 1st class

The man has 4yrs , he never even complete 1yr only fools will make such hasty judgement

What he cant achieve in one year he cant do it in 4 years lets not fool ourselves here. Nigerias problem is easy to solve na them no wan solve am . I have educated your lame brain . School wastage. I and my sister have a firstclass(law) . if you know know who you dey follow cap close mouth empty brain

3 Likes 1 Share

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by InvertedHammer: 8:46am On Apr 24
/

I hope Timmi loaded at around N1050 as advised.

/

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by MrBONE2(m): 8:48am On Apr 24
AqualinaXYZ:
Oga naira don enter N1450




Where una dey get una news from sef
grin

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Jlow2: 8:49am On Apr 24
Naira gains was not actually by production or exports, but by cbn supporting the naira ,by flooding the forex market with dollars, so it remains unpredictable that’s why the gains in naira did not reflect in the markets and prices of foods and commodities, you only see it on paper, it’s oluwole economics

3 Likes 2 Shares

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Lavor234: 8:51am On Apr 24
@ this point Tinubu has to have a new economic team
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by theredaddy: 8:53am On Apr 24
zinaunreal:


What he cant achieve in one year he cant do it in 4 years lets not fool ourselves here. Nigerias problem is easy to solve na them no wan solve am . I have educated your lame brain . School wastage. I and my sister have a firstclass(law) . if you know know who you dey follow cap close mouth empty brain



Thats your opinion, its just like saying becos you didnt meet 4.0 GP in year 1 you can't never graduate with 1st class ... shey e make sense

You sure sound like someone with Bsc in Law, how is that your sister she is now popular e remain you
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Caleycash(m): 8:54am On Apr 24
Beverlyjean:


Where on earth do people pray that their countries currency depreciates , so that they can make money out of it...mention one country.... Nigerians are truly abnormal people ....
Same question is what you should ask about your naira appreciating yet prices of goods and services remain the same, infact even rising!, the whole country is abnormal!, strange things happen in Nigeria daily... so you want someone who earns in dollars as freelancer or trader to be on the losing side??, you too check am naa, is there anything normal there?

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by ojonugba2014(m): 8:56am On Apr 24
Most of my earning na from crypto ( dollar)

Dollar dropped, price of commodities no drop.

I sold $100 ( usdt) on Bybit p2p yesterday night for #127,700 I happy

I going out to buy rice ND other food item this morning.

Make dollar go back to 2k/$ make we rest.

With just my $5k I WL be living like a village King.

Dollar wea fall from 1800 to 1100. Price of goods is almost the same .

Na greedy people flood this country.

2 Likes

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by spartachico(m): 8:56am On Apr 24
Lol
Raise ham
Raise ham
Raise ham
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by ivandragon: 9:01am On Apr 24
Bat, the cbn governor and supporters of apc are just airheads whose only bragging rights are that they are in government.

Exchange rising or falling is actually secondary to the main problem Nigeria has which is the rising cost of living and diminishing purchasing power.

This administration would do itself a favour by setting realistic targets. The 2014 budget of N4.9trn has outperformed the 2023 budget of N21trn. The government needs to ask itself why?

How can a government have a budget that was over 300+ times its predecessor but has performed 1000 times worse.

Bat and apc need to drop thier shoulder and focus on getting the country back to EQUIVALENT pre-2015 levels first, then work from there.

Those giving blind support to missteps of this administration are not helping matters. That was the same way they blindly supported buhari.

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Maliqcious: 9:03am On Apr 24
StOla:
You are so happy with this news.

You are now motivated to rush out this news like when it was heading towards N2000 in February, but lacked motivation to rush out the news when it was appreciating downwards to N1000?
because the downward indicator seems like a Fugazi
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by zinaunreal(m): 9:05am On Apr 24
theredaddy:




Thats your opinion, its just like saying becos you didnt meet 4.0 GP in year 1 you can't never graduate with 1st class ... shey e make sense

You sure sound like someone with Bsc in Law, how is that your sister she is now popular e remain you



Emilokan go upgrade. I have two degrees one in nursing

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Growing(m): 9:05am On Apr 24
This is exactly what happens when people focus on symptoms not root cause.

What is the root cause of naira devaluation? Money printing.

As long as money is printed virtually out of nothing, or even worse, out of debt, devaluation is a given. Everybody should educate themselves on what central banks actually do with the government when it comes to money printing.

Let them pursue aboki, pursue Binance executives, do everything except stop printing money to stupor, naira will keep getting devalued.

Look at history, there was a time when naira was more valuable than dollar.

Money printing not Binance, not aboki, will take naira above 2k per dollar and even beyond.

Printing money the way it is currently done should be a crime against humanity.

Enough said.

3 Likes

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by ThunderFireAgba: 9:06am On Apr 24
Donaldoni:
This is good news for piiiigggs cheesy

But Nigeria will overcome!!!

Local production of PMS will end this nonsense once and for all.

cc: Seun
cc: Obinoscopy
Rule 2
Rule 3

1 Like 2 Shares

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by dettolgel: 9:07am On Apr 24
theredaddy:



I cross the road with my eye opened common sense suppose tell you

Maybe if i was born yesterday i would have believed explaining or shalaying will solve anything when dealing with Obedient/children of hate

I mean what explanation has not being giving to sensitize the PUBLIC, besides why do we have to convince people to think good towards there country,

No matter the number of times arsenal as failed me, i am still hopeful & optimistic arsenal will carry cup every season ... i can't just fathom why a Nigerian living inside Nigeria wil be jubilating and speculating the downfall of his/her country ... is that not madness


I was right because of all the things you wrote up there, there is no single statement that addressed the issues I raised. Rather you were busy making it personal.

I will humor you and come down to your level maybe we can make a head way.

1. Are you optimistic that Arsenal will do well down the road because you believe that they have the right players and right coach and that after every defeat the coaching team go back to the drawing board to review their error and try to adjust for the next game or you based your loyalty on blind trust?

2. If you invest in a company and year in year out they have been bleeding cash without any strategic move to turn things around will you continue to throw money in it or will only continue to throw money in it if you are certain that the new steps they took will yield profit?

3. If your answer to any of the above is solely based on blind loyalty then I am sorry to tell you, you are the type that can easily be manipulated into wearing suicide vest.

By the way, because you weren't born yesterday does not automatically make you right. You could be old as Bleep and still be as dumb as a rock.

3 Likes 1 Share

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by iLegendd(m): 9:09am On Apr 24
Since goods have refused to depreciate in price, let it go back to 1900/$ so that those of us who mostly hold Dollars will smile too. Also, I want it to appreciate to 1000/$ to enable me convert my Naira to Dollar. I'm happy with any direction it takes. I'm only upset with market women.

2 Likes

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Caleycash(m): 9:11am On Apr 24
theredaddy:



You right english so well yet you sounded outrightly like an illiterate

Despite all the explanations written on line, appreciation of naira can only reflect overtime una still det spew rubbish
I think most you just hide behind the market prices to vomit una wicked thoughts, you people never wish the country get better.

those wishing the economic to fall, whatever there gain is naa on top terminal sickness dem go dey spend am, there loved ones no go ever dey alright
No body is wishing the economy to fail!... we all wish it well which should be realistic and showing in our day to day lives, you can't wish naira to rise yet prices of goods and services are the same and even rising, Where's the growth in the economy??, just deceiving ourselves while we languish in penury!, if it falls at least it's commensurate to the money we earn that's not wishing the country ill but being realistic!
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by garfield1: 9:12am On Apr 24
IfnobeGod20:

In Yoruba parlance it is a common saying that oju to ma bani kale, kin taro wapin. True to ourselves, this government had not show any sign that they are going into heavy production. They only rely on Dangote for survival. How would a country put her destiny in the hand of a sole proprietor? Only Nigeria. It makes no sense at all.
I have applied the common sense, this is almost a year and those in government has not shown a pint of sense that they are going into production to help the economy. Patching the process won't help at all. If we like, we should continue in the same ways we were before, we will still get the same results.
Aside the governor of Niger state that has shown sign of going into production, the rest are sleeping, including the presidency.
My brother, these people are not ready to do the needful, they are sleeping and snoring and we expect wonders from them. This is no rocket science o.

Sorry how else do you want them to go into production apart from investing heavily in agriculture,restricting imports and encouraging local production through support for dangote,bua,innoson,Allen onyema giving financial grants to thousands of local businesses
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by ThunderFireAgba: 9:13am On Apr 24
nairalanda1:


Nope.

Even during the days when we refined most of the fuel we used in Nigeria, naira was still falling vs dollar.

Our naira is hooked up to price of crude oil. That is why it is falling and rising.

No oil producer has a strong currency. Saudi that appears to have one uses billions to hide the cracks so to speak. Billions of dollars. Infact in one year they spent 100 bn dollars just to keep their currency strong. Yes their finance ministry had severe palpitations and fainting lol.

Do what the developed countries and china do, and we go see strong currency
..And their land is desert(non-arable), but naija with oil and fertile land, ZERO input on its citizens!!
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by dettolgel: 9:14am On Apr 24
theredaddy:




Maybe i am a bit emotional but i don't see how that is detrimental to Nigeria or Nigerians

Bad wishes have an impact cos those wishing the country bad have there mouth where there Money is ... thatz what you missed.
When you view all the efforts and planning that precedes "Repair" can you compare it to "destructive mission" ..
Repair and good finishing takes time and deliberate effort which must be consistent hence why we tell those asking why prices of goods are not going down spontaneously yet to be reasonably Patient as Rome wasnt built in a day

Please can you tell me one country that was built solely on "good-wishes" ?

If there is any country that prayer and good-wishes could build that would have been Nigeria as far as the 90s Catholic church till date still pray for Nigeria after every mass. Other churches have organized prayer nights likewise Mosques.

In fact 31st December in Nigeria is nothing but a prayer night for Nigeria by majority of Nigerians, yet this good-wishes is yet to surpass the "bad-wishes" of the few on NL and twitter space?

Senior man abeg no dey disgrace yourself online. grin

3 Likes 1 Share

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Caleycash(m): 9:18am On Apr 24
Available9:

Something doesn't depreciation downwards... depreciation is depreciation... appreciation is appreciation too... nothing like appreciate upwards...most media outlets use it but it is wrong... depreciation itself is downward... appreciation itself is upward... adding upward or downward after mentioning those two terms is TAUTOLOGY
You're right but even in tautology, you don't say depreciate upwards or appreciate downwards, that's incoherent tautology!... what's your aim in correcting him that replied instead of the moŕòn that made the initial blunder??
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Treadway: 9:18am On Apr 24
dettolgel:


I was right because of all the things you wrote up there, there is no single statement that addressed the issues I raised. Rather you were busy making it personal.

I will humor you and come down to your level maybe we can make a head way.

1. Are you optimistic that Arsenal will do well down the road because you believe that they have the right players and right coach and that after every defeat the coaching team go back to the drawing board to review their error and try to adjust for the next game or you based your loyalty on blind trust?

2. If you invest in a company and year in year out they have been bleeding cash without any strategic move to turn things around will you continue to throw money in it or will only continue to throw money in it if you are certain that the new steps they took will yield profit?

3. If your answer to any of the above is solely based on blind loyalty then I am sorry to tell you, you are the type that can easily be manipulated into wearing suicide vest.

By the way, because you were born yesterday does not automatically make you right. You could be old as Bleep and still be as dumb as a rock.
well said. Very good analogies👌...Nothing more to add

2 Likes

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Timmi: 9:21am On Apr 24
InvertedHammer:
/

I hope Timmi loaded at around N1050 as advised.

/

My friend, the current rate is caused by the dollar appreciation against all currencies - pound, euro, etc. and has nothing to do with Nigeria fiscal or monetary policy. It is too early to roll out the drum.

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

Woman Who Uses Wheelchair Complains About GTBank's Inaccesible Entrances / CBN Suspends Dollar To Naira Trades Till Monday / CBN Partners With Bitt Inc For eNaira, Shuns Nigerian Fintech Companies

(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. 65
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.