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Nairaland Forum / Nairaland / General / Business / Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers (36815 Views)
Naira Gains Against Dollar, Trades At N1113/$ At The P2P Market / Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens / Naira Gains As Politicians Pump ‘election Dollars’ Into Economy (2) (3) (4)
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Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by PressMyButton: 8:15am On Dec 07, 2024 |
The exchange rate between the naira and the dollar continued its rapid appreciation on the official EFEM market, closing at N1,535/$1 on Friday, December 6, 2024. https://nairametrics.com/2024/12/06/breaking-naira-gains-rapidly-against-the-dollar-as-sellers-struggle-to-find-buyers/?amp=1 54 Likes 5 Shares
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Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by Softmirror: 8:15am On Dec 07, 2024 |
Now this is good news. 221 Likes 12 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by PressMyButton: 8:18am On Dec 07, 2024 |
Respect to Jagaban, he knows how to assemble the best brains, as Governor and now as President. Anywhere that's difficult to enter, just leave it for Tinubu, that's where he likes to dismantle into pieces. After God, na Tinubu 💪 God bless Nigeria. 170 Likes 23 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by Yankee101: 8:19am On Dec 07, 2024 |
News of 2 refineries should reduce the runaway depreciation But it takes another policy somersault to revert back to 1900 45 Likes 6 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by Yankee101: 8:20am On Dec 07, 2024 |
But it’s a good opportunity to buy the dollar now using naira 47 Likes 5 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by JoeyNaza: 8:23am On Dec 07, 2024 |
I can confirm this. Dollar fell a lot in the black market too. EDIT: No celebrate too much or praise Tinubu. My BDC guys explained that it's seasonal, as diaspora people are returning for the holidays, they are selling their FX in exchange for Naira, which is temporarily propping up naira value. One of them made a funny remark that all the "yankee bois" want to ride on the bad exchange rate to become billionaires in Naira ![]() ![]() I am not unpatriotic, I support Naira gain, it is for our collective benefit. 220 Likes 20 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by PressMyButton: 8:28am On Dec 07, 2024 |
Yankee101:Even when Dangote refinery came on board, naira did not appreciate. Give credit where it is due, the new digital platform Cardoso created has turned things around. Stop downplaying every positive news, it's a sign of sickness. 159 Likes 19 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by jmoore(m): 8:28am On Dec 07, 2024 |
Their voodoo have expiring date. Come back by April to check the exchange rate. 29 Likes 1 Share |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by Kukutenla: 8:28am On Dec 07, 2024 |
This is good news Bit it seems CBN is flooding the market with dollars or where's the excess dollars coming in from? It was previously claimed that we need to become productive for our currency to appreciate The value of the naira has been heavily decimated since APC came into power we hope the are able to work out a genuine respite for our currency 10 Likes |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by iykepromotions: 8:32am On Dec 07, 2024 |
Nigeria should export more. Even digitally. And be mors productive. That's all. For digitally, you can buy an expired domain with your card for $9 and sell to the whites above $100. Below is one of my own recent sales. You just need to be creative and positive minded For free details on getting started, check https://www.nairaland.com/3430037/what-make-money-online 12 Likes 2 Shares
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Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by Sheuns(m): 8:33am On Dec 07, 2024 |
If you have money, buy as much as possible. It’ll return to status quo by January. 30 Likes |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by DeLaRue: 8:37am On Dec 07, 2024 |
It is easy to be a CBN Governor when times are good ala Messrs Soludo and Sanusi. No Nigerian CBN Governor in the last 50 years has faced the difficult economic circumstances that Mr Cardoso has faced since he was appointed. He may not have the bravado of some previous CBN Governors, but he has quietly proven himself as being super competent. If you doubt me, ask Turkey. As Turkey's currency has faced very turbulent times in recent years, the country has tried more than 4 central bank Governors in less than 3 years, yet their currency is still in rhe doldrums. 56 Likes 8 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by PressMyButton: 8:42am On Dec 07, 2024 |
Kukutenla:What's wrong in CBN flooding the market when there's excess liquidity?. For your info, CBN has licensed IOCs to sell 50% of their export proceeds to FX dealers.. so, everybody is no longer depending solely on CBN for dollars anymore. 100 Likes 5 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by jmoore(m): 8:43am On Dec 07, 2024 |
PressMyButton: You guys never learn from history. Or I should say the propaganda of Tinubu always have expiry date. https://www.nairaland.com/8038056/naira-appreciates-1382-after-7 26 Likes 2 Shares
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Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by SalamRushdie: 8:46am On Dec 07, 2024 |
PressMyButton: Someone that wrecked GDP from 300bn dollars to 190 bn dollars in one year ? Someone that wrecked GDP per Capita form $2500 to $877 in just one year ? Some that caused egg prices to jump from 2500 to 7000 Naira in one year ? You say he knows how to assemble the best minds ? You are not ok 😅 Well for those wondering why the Naira gained here is the reason: 1 Diasporan have started arriving in droves for the Christmas festivities and they are all looking for Naira to spend so they are changing dollars . 2 : Diasporans that are not coming for Xmas have also started sending dollars to their loved ones so they can shop for Christmas early. This is what is responsible for the Naira gain and not any Tinubu 100 Likes 13 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by Kukutenla: 8:47am On Dec 07, 2024 |
PressMyButton:That's manipulation no longer floating I thought defending the naira was a bad idea was what we were told Which IOC will sell 50% of their revenue to forex dealers. To what end? 14 Likes 2 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by SalamRushdie: 8:48am On Dec 07, 2024 |
Kukutenla:Not the CBN this time but Diasporans arriving for Xmas and diasporan sending their loved ones Christmas dollars 25 Likes |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by SalamRushdie: 8:48am On Dec 07, 2024 |
PressMyButton: Has nothing to do with the Bloomberg terminal and you will find out soon 7 Likes 2 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by chatinent: 8:49am On Dec 07, 2024 |
The most difficult job in Nigerian politics must be to defend Tinubu and the APC. 29 Likes 3 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by Paraman: 8:49am On Dec 07, 2024 |
I think EFEMS is the major reason the naira is strengthening 19 Likes 2 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by Softmirror: 8:49am On Dec 07, 2024 |
SalamRushdie: You mean they still dey carry dollar waka from Yankee come Nigeria?! 🥴 92 Likes 3 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by Yankee101: 8:50am On Dec 07, 2024 |
PressMyButton: An online platform is appreciating the naira? Can you listen to yourself? It’s not the fundamentals but cosmetics that’s moving the pendulum? Cardoso has been an all around disaster. Besides his wanton stealing, Emiefiele is comparatively way ahead of Cardoso in managing fiscal and monetary policies 2 Likes 2 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by PressMyButton: 8:52am On Dec 07, 2024 |
jmoore:Your problem is that you cannot read and understand to save your life. For him to have settled $7billion backlog within 6months of his appointment is even a great plus to him. And again, CBN constantly comes up with new solutions each time to address these challenges which tells you that they are always thinking outside of the box, rather than making excuses. You naysayers are really getting your ass burnt. 76 Likes 7 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by PressMyButton: 8:54am On Dec 07, 2024 |
Yankee101:This village dweller doesn't understand the meaning of a digital platform. Manual intervention and manipulations is gone. 17 Likes 4 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by Kukutenla: 8:55am On Dec 07, 2024 |
DeLaRue:It is crass sycophancy and disingenuous to play down the success of others and uplift a failure just for political expediency. Soludo gave us the megabanks we have today and a virile microfinance industry Sanusi improved on it reverb with some of his foibles. He advocated for subsidy removal which was strongly resisted. Cardoso has been trying different approaches and changing tact. He's overseen the worst run down of our currency in our history taking it to the worst performing in Africa. 9 Likes 2 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by Paraman: 8:56am On Dec 07, 2024 |
iykepromotions:We are exporting more oga https://www.nairaland.com/8287150/nigeria-records-5.8-trillion-trade 11 Likes |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by PressMyButton: 8:59am On Dec 07, 2024 |
SalamRushdie:You were living a fake life and you called it an Economy, I feel so sorry for you. An Economy whereby Okonjo Iweala was borrowing to pay workers salaries and she even told us to brace up for tough times ahead. An economy whereby subsidy gulps $20billion dollars annually while 97% of our revenue was used to service debts. It even got so bad that we started borrowing to pay for subsidy, so that people like you will put on fake smiles. And you want us to continue with that?. enemies of the state. Be informed that Mr President is focused on building a $1trillion economy by 2030. una go dey alright. 38 Likes 7 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by jmoore(m): 8:59am On Dec 07, 2024 |
PressMyButton:Babablu bulabu. Propaganda won't save you guys. 1,300 to 1,500 is appreciation? 3 Likes |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by Kukutenla: 9:03am On Dec 07, 2024 |
SalamRushdie:That could be But the sheer volume required to drop over 200 from both parallel and official rates must be huge 8 Likes |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by PressMyButton: 9:03am On Dec 07, 2024 |
jmoore:Election loss still dey pain una, no Presidency for you. Go and bite a tree 🌲 After God, na Tinubu 💪 God bless Nigeria 19 Likes 2 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by PressMyButton: 9:07am On Dec 07, 2024 |
SalamRushdie:What about Euro bonds and FPIs that came in?. What about the rising foreign reserves? abi na diasporans dey send money into the foreign reserves?. dey play. After God, na Tinubu 💪 15 Likes 3 Shares |
Re: Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers by jmoore(m): 9:07am On Dec 07, 2024 |
PressMyButton:Ran out of defending propaganda, hence the yeye reply. Of course, Tinubu is greater than prophet Muhammad. Babablu bulabu. 6 Likes 2 Shares |
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