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Naira Depreciates To N1,540/$ In Parallel Market - Business - Nairaland

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Naira Depreciates To N1,305/$ In Parallel Market / Naira Depreciates To ₦‎1,300/$ In Official Market / Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens (2) (3) (4)

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Naira Depreciates To N1,540/$ In Parallel Market by ogododo: 8:03am On May 17
The Naira yesterday depreciated in the parallel market to N1,540 per dollar from N1,530 per dollar on Wednesday.

Similarly, the Naira yesterday depreciated to N1,533.99 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,533.99 per dollar from N1,459.02 per dollar on Wednesday, indicating N74.97 depreciation for the naira.

Consequently, the margin between the parallel market and NAFEM rates narrowed to N6.01 per dollar from N70.98 per dollar on Wednesday.

https://www.vanguardngr.com/2024/05/naira-depreciates-to-n1540-in-parallel-market/

4 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by Beautifulday: 8:05am On May 17
So the real price is within 1500? Because that has been where it has been hovering for awhile now?

9 Likes 1 Share

Re: Naira Depreciates To N1,540/$ In Parallel Market by BossGerald: 8:05am On May 17
BATerians where Una dey


Unfortunate lovers of Nigeria that keep supporting failures to rule them.

72 Likes 5 Shares

Re: Naira Depreciates To N1,540/$ In Parallel Market by Righthussle: 8:36am On May 17
Make una continue to dey chase shadows instead of doing the write things. Dangote go get refinery for Nigeria, him go exchange naira to dollars carry go America go buy crude oil to refine for Nigeria. Una dey worry crypto exchanges upandan. Make una kuku ban smart phone and computers make we rest.

That's how they were chasing shadows too between 1985 to 1989 when naira went from #0.8 for 1$ to #7.39 for 1$. Were crypto exchanges in existence then ?


1985 $1 = N0.894 (N1.70 Black Market Rate)

1986 $1 = N2.02 (N3.90 Black Market Rate)

1987 $1 = N4.02 (N5.90 Black Market Rate)

1988 $1 = N4.54 (N6.70 Black Market Rate)

1989 $1 = N7.39 (N10.70 Black Market Rate)

16 Likes 2 Shares

Re: Naira Depreciates To N1,540/$ In Parallel Market by Timoleon(m): 9:45am On May 17
Free fall.

7 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by Aleister(m): 9:46am On May 17
Tinubu is showing you guys why he is a first class accounting graduate.

He is handling the economy…so no cause for alarm.

61 Likes 2 Shares

Re: Naira Depreciates To N1,540/$ In Parallel Market by Sigexanomgo: 9:46am On May 17
This updates don dey remind me of Covid 19 daily updates oh

39 Likes 2 Shares

Re: Naira Depreciates To N1,540/$ In Parallel Market by Rebuke: 9:46am On May 17
Hmmm. So, who next to be chased by EFCC now?

25 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by SyrusdeHansome(m): 9:47am On May 17
Let's raise our hands to praise baba God while we begin with the song; "e go favour me and my family."

Baba go slow leave baba bulaba enter
e go favour me and my family.
Whether baba lick mic or baba tif money
e go still favour me and my family
Baba bullion van don move fuel from
#200 to #850
e go still favour me and my family
Baba get certificate or baba fake certificate
e go still favour me and my family
Baba move naira From #500 to#1500 per $
e go still favour me and my family
Baba sabi economics or baba no sabi
e go favour me and my family.
Amennnnnnnnnnn
Amennnnnnnnnnn.
Thank you.

31 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by 89green: 9:47am On May 17
grin op you are wicked

Dollar too is wicked. Naira should be allowed to breathe na.

My APC people, pls don't forget your discount card at home o.

35 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by Emyzoloye5(m): 9:47am On May 17
Na statistics we go chop Quote from a mentally deranged (fake) accountant

40 Likes 1 Share

Re: Naira Depreciates To N1,540/$ In Parallel Market by morikee: 9:47am On May 17
Make them Ban smartphone

3 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by zombieHUNTER: 9:47am On May 17
Any supporter of Tinubu is a certified brain dead tribalist and an enemy of this country..


Tinubu has nothing to offer Nigeria
Never have we experienced an inflation rate of 33% in this country for decades..

32 Likes 1 Share

Re: Naira Depreciates To N1,540/$ In Parallel Market by oz4real83(m): 9:47am On May 17
Apart from banning everything, what tangible and meaning action has the govt taken to increase the value of the naira? Zero zero zero. Value of currency increases with meaning economy activities, these meaning activities are non-existent here, we still import even tooth picks, our president still patronises foreign healthcare, our refineries still don't work, we still depend on generators to power the already poor economy, we still subsidize hajj even when the economy is bleeding embarassed

16 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by Bullfallo(m): 9:48am On May 17
Lol. Dangote refinery will crash dollar. Where are they? Propaganda and assumptions can’t bring dollar down.

America or world bank can never help you against the dollar. Anything they would do is further devalued your currency and destroy your economy that is what they want. They pressure buhari to further devalued the naira.

Tinubu is a baby in politics and economy. He was only opportune to put lagos in his pockets. But surely he have no idea how an economy is been run. the way he removed subsidy shows he wasn’t intelligent enough

22 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by emmanuelbrown26: 9:48am On May 17
Dis is goodnews to those wey Sabi xup, if I Wan withdraw my trade now na better profit I dey see so. Thanks to baba tinubu

6 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by CodeTemplar: 9:48am On May 17
Part of the consequences of floating.

4 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by Almunjid(m): 9:48am On May 17
Obidiōts (the frenemies of Nigeria) are happy with this latest bad news about Nigeria. grin
Re: Naira Depreciates To N1,540/$ In Parallel Market by Brandosky: 9:48am On May 17
Righthussle:
I don advise EFCC to ban smart phone and computers, them no gree. Make una continue to dey chase shadows instead of doing the write things. Dangote go get refinery for Nigeria, him go exchange naira to dollars carry go America go buy crude oil to refine for Nigeria.

That's was how they were chasing shadows too between 1985 to 1989 when naira went from #0.8 for 1$ to #7.39 for 1$.


1985 $1 = N0.894 (N1.70 Black Market Rate)

1986 $1 = N2.02 (N3.90 Black Market Rate)

1987 $1 = N4.02 (N5.90 Black Market Rate)

1988 $1 = N4.54 (N6.70 Black Market Rate)

1989 $1 = N7.39 (N10.70 Black Market Rate)

Wow !! These are the creatures am sharing a country with
Re: Naira Depreciates To N1,540/$ In Parallel Market by illuminutty: 9:48am On May 17
We told them...

7 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by Gbadugbakun(m): 9:48am On May 17
grin

1 Like

Re: Naira Depreciates To N1,540/$ In Parallel Market by zuxstine: 9:49am On May 17
Okay when is the next increase

1 Like

Re: Naira Depreciates To N1,540/$ In Parallel Market by atobs4real(m): 9:49am On May 17
WONTIN TELE NAIRA. WITCHES AND WIZARD DEY FOLLOW NAIRA

1 Like

Re: Naira Depreciates To N1,540/$ In Parallel Market by Jez9(m): 9:49am On May 17
Bring this thing back to at least 700
Re: Naira Depreciates To N1,540/$ In Parallel Market by bnanny: 9:50am On May 17
Every sector of Nigeria is been mismanaged. Failure to lead right is a black government thing. Naira free fall doesn't surprise me.
My prediction for naira, soon 1$ to 10,000# naira because our currency is more volatile than crypto.

8 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by Originalsly: 9:50am On May 17
There is nothing to support the Naira.... will appreciate again if the FG prop it up with billions .... otherwise .... it will continue to sink.

1 Like

Re: Naira Depreciates To N1,540/$ In Parallel Market by Horbar1: 9:50am On May 17
Nigeria needs prayer sincerely.

4 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by Godada(m): 9:51am On May 17
Re: Naira Depreciates To N1,540/$ In Parallel Market by emmanuelbrown26: 9:53am On May 17
Almunjid:
Obidiōts (the frenemies of Nigeria) are happy with this latest bad news about Nigeria. grin
Yes ohhhhh. Dey their mak cloths dey wear u. I funded an account when it was 980, now I can laugh in peace with better profit for my trading account

4 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by iCauseTrouble: 9:53am On May 17
Re: Naira Depreciates To N1,540/$ In Parallel Market by Brandosky: 9:53am On May 17
Almunjid:
Obidiōts (the frenemies of Nigeria) are happy with this latest bad news about Nigeria. grin
So this is actually a bad news.
Re: Naira Depreciates To N1,540/$ In Parallel Market by omoredia: 9:54am On May 17
We can see that the problem of Nigeria are the so called educated people that actually don't know anything

9 Likes

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