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Naira Depreciates To N1,540/$ In Parallel Market - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Depreciates To N1,540/$ In Parallel Market (7500 Views)

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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Re: Naira Depreciates To N1,540/$ In Parallel Market by condensedmilk: 9:54am On May 17
angry
Re: Naira Depreciates To N1,540/$ In Parallel Market by emmanuelbrown26: 9:57am On May 17
Horbar1:
Nigeria needs prayer sincerely.
Prayer is for those without ambition and lost of ideals

1 Like 1 Share

Re: Naira Depreciates To N1,540/$ In Parallel Market by Racoon(m): 9:58am On May 17
Here we are back to the reality the have been denying. Stupid clueless people in government

1 Like

Re: Naira Depreciates To N1,540/$ In Parallel Market by Franklyspeakin: 9:58am On May 17
chaiiii are Agbadorians not praying enough anymore

1 Like

Re: Naira Depreciates To N1,540/$ In Parallel Market by Brushstrokes20: 9:59am On May 17
eBOLA is back on rampage 🔊🔊🔊💯💯

1 Like

Re: Naira Depreciates To N1,540/$ In Parallel Market by Amayabor1: 10:01am On May 17
Who are they arresting this time?

1 Like

Re: Naira Depreciates To N1,540/$ In Parallel Market by Focusmind: 10:14am On May 17
What is happening, bikonu? Just as we thought that the naira was having the best run in weeks.

Transacting in foreign currency now is becoming more extremely expensive.

Imagine those that bought dollars at N1100/$ early last month. They would have cleaned out big time at this current rate.

This is the reason why people would continue to trade in currency. It seems more profitable than running a business

Someone that bought $20000 at N1100/$ makes a profit of N8.8m just within six weeks if he decides to sell the dollar at N1540/$.

I hope there is no government hand in the manipulation of this currency rate.
Re: Naira Depreciates To N1,540/$ In Parallel Market by alabo1: 10:17am 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)


The issue is why we have a parallel market in the first place. This was done for the Cabals. IBB is to blame
Re: Naira Depreciates To N1,540/$ In Parallel Market by Kay25(m): 10:19am On May 17
BossGerald:

BATerians where Una dey


Unfortunate lovers of Nigeria that keep supporting failures to rule them.
What's ur headache
Re: Naira Depreciates To N1,540/$ In Parallel Market by Kay25(m): 10:21am On May 17
The real value of naira unfolding...if u want it down 👇 den follow the grow the naira initiatives.how can we be subsiding with one thousand plus and u expect Nigeria not to go the way greece?too many of us are shallow thinkers who looks at now rather than the future
Re: Naira Depreciates To N1,540/$ In Parallel Market by MichaelSokoto(m): 10:21am On May 17
I kept my 💵 closer to my shest!

f**k BATerias!

cool

1 Like

Re: Naira Depreciates To N1,540/$ In Parallel Market by 77up(m): 10:23am On May 17
I wonder why someone will be happy whenever bad things happen.

Na wa o.
Re: Naira Depreciates To N1,540/$ In Parallel Market by edungene7: 10:24am On May 17
Bacteria has taken over the economy on full gear unfortunately the clowns who support him calls Peter obi gbajue when indeed the certified gbajue is occupying the most sensitive position in government what a shame
Re: Naira Depreciates To N1,540/$ In Parallel Market by livinbygrace: 10:31am On May 17
1000 NAIRA IS NOW 380 CEFA,VERY SOON,NIGERIANS WOULD NEED VISA TO ENTER BENIN REPUBLIC.

1 Like

Re: Naira Depreciates To N1,540/$ In Parallel Market by Angelfrost(m): 10:46am On May 17
Almunjid:
Obidiōts (the frenemies of Nigeria) are happy with this latest bad news about Nigeria. grin

Continue looking at Obidients... Don't face those you elected into offices.

Very soon y'all will run out of things to blame and ban.

1 Like

Re: Naira Depreciates To N1,540/$ In Parallel Market by poweredcom(m): 10:47am On May 17
Cant wait for it to enter 2000
Re: Naira Depreciates To N1,540/$ In Parallel Market by JoeEeL(m): 10:53am On May 17
The bastard omokri wont say anything
Re: Naira Depreciates To N1,540/$ In Parallel Market by Mrfeel: 10:58am On May 17
Almunjid:
Obidiōts (the frenemies of Nigeria) are happy with this latest bad news about Nigeria. grin
The real enemies of Nigeria are those singing praises to bad leadership , suffering and smiling idiōts
Re: Naira Depreciates To N1,540/$ In Parallel Market by Everlastingson: 11:05am On May 17
The Dangote Refinery ( private business) wey them been dey use for cover with lies don dey buy crude from America IN DOLLARS. Ngwa, let the agbado riff raff crew take over with their twisted, spiral narrative. Tinubu and his entire cabinet are eternally CORNfused.
Re: Naira Depreciates To N1,540/$ In Parallel Market by Everlastingson: 11:14am On May 17
Amayabor1:
Who are they arresting this time?

This time them go arrest the dollar itself. Emilokan don grab power .
Re: Naira Depreciates To N1,540/$ In Parallel Market by DavidEsq(m): 11:22am On May 17
SyrusdeHansome:
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.

A voice note would have done justice to that song. I was singing off tune😂😂😂😂😂😂😂😂
Re: Naira Depreciates To N1,540/$ In Parallel Market by Everlastingson: 11:32am On May 17
Focusmind:
What is happening, bikonu? Just as we thought that the naira was having the best run in weeks.

Transacting in foreign currency now is becoming more extremely expensive.

Imagine those that bought dollars at N1100/$ early last month. They would have cleaned out big time at this current rate.

This is the reason why people would continue to trade in currency. It seems more profitable than running a business

Someone that bought $20000 at N1100/$ makes a profit of N8.8m just within six weeks if he decides to sell the dollar at N1540/$.

I hope there is no government hand in the manipulation of this currency rate.

You know for sure that govt is involved. For your info they are the real players in currency trading and manipulation. Forget their smokescreen. Who were those doing round tripping of the dollar? No be government? Aside arresting BDCs( so as to eliminate competition) what standard positive measure has Tinubu taken so far to improve the economy. None. Tinubu is not talking about production, nor reducing cost of governance, no stopping stealing, nor using iron fist to stop terrorist Fulani who destroy farms and kill farmers. .Look at the person he chose as minister for power, a certain Adelabu, a perfect round peg in a square hole. The only thing I see the Tinubu government focus on is to control the exchange market, where quick money comes from with little or no effort, at the expense of the economy.

2 Likes

Re: Naira Depreciates To N1,540/$ In Parallel Market by HugoBoss10(m): 11:37am On May 17
Tinubulation continues grin

Re: Naira Depreciates To N1,540/$ In Parallel Market by Splashme: 11:39am On May 17
Laughable country
.
Re: Naira Depreciates To N1,540/$ In Parallel Market by Blazetrailer: 11:50am On May 17
Correct. The so called " first class accountant" that we know never went to school decided to devalue naira without understanding the implications. It is just from one muddled up policy to another...gropping in the dark to be mildly. Nigeria will not recover from that dumb decision for next 20 years.

omoredia:
We can see that the problem of Nigeria are the so called educated people that actually don't know anything
Re: Naira Depreciates To N1,540/$ In Parallel Market by Dwightventures(m): 11:52am On May 17
Focusmind:
What is happening, bikonu? Just as we thought that the naira was having the best run in weeks.

Transacting in foreign currency now is becoming more extremely expensive.

Imagine those that bought dollars at N1100/$ early last month. They would have cleaned out big time at this current rate.

This is the reason why people would continue to trade in currency. It seems more profitable than running a business

Someone that bought $20000 at N1100/$ makes a profit of N8.8m just within six weeks if he decides to sell the dollar at N1540/$.

I hope there is no government hand in the manipulation of this currency rate.

The "brilliance" of hindsight. Would you put your $20,000 into the biz six weeks ago if you had it?

I am smark dead centre of this scenario and I realise FROM EXPERIENCE that theory is different from practical.

1 Like

Re: Naira Depreciates To N1,540/$ In Parallel Market by Pennilessword1: 12:37pm On May 17
You see how stupid Tinunbu and his supporters are. Beatified agbodorians wouldn't even open this thread. Useless punks
Re: Naira Depreciates To N1,540/$ In Parallel Market by BossGerald: 12:51pm On May 17
Kay25:

What's ur headache

One BATeria spotted


Why do you guys hate Nigeria progress so much??
Re: Naira Depreciates To N1,540/$ In Parallel Market by Almunjid(m): 1:29pm On May 17
Mrfeel:

The real enemies of Nigeria are those singing praises to bad leadership , suffering and smiling idiōts
Dem say: Friday wey go good, na from Wednesday we go know (or predict) am. When Pāndora visit Zaria in the North which kind Borehole him do for them? That's how I know say Obi na scam. grin
Re: Naira Depreciates To N1,540/$ In Parallel Market by Almunjid(m): 1:31pm On May 17
Mrfeel:

The real enemies of Nigeria are those singing praises to bad leadership , suffering and smiling idiōts
Emergency lovers of Nigeria. grin
Re: Naira Depreciates To N1,540/$ In Parallel Market by grandstar(m): 1:48pm On May 17
Righthussle:
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)


The government needs a scapegoat.

Pat Utomi has already called them out.

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