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Naira Set To Hit N500 At Parallel Market After CBN Devaluation - Politics - Nairaland

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Naira Set To Hit N500 At Parallel Market After CBN Devaluation by etokhana: 7:41pm On May 27, 2021
The naira is close to exchanging at N500 per dollar after the Central Bank of Nigeria devalued the official rate of the currency.

The naira plunged to N495 per dollar at the parallel market on Thursday.

This is the highest rate the naira fell since July 2020 when it traded N490.

The apex bank officially devalued the naira to N410 per dollar bowing partially to months of pressure by the International Monetary Fund to allow the forces of demand and supply to determine the country’s foreign exchange market.

The rate is close to the Investors’ & Exporter (NAFEX) Windows where investors and exporters trade.

At the I&E Window, the naira gained 80 kobo to trade at N411 per dollar.

The bank had struggled with maintaining a single foreign exchange window.

The bank had devalued the naira from N305 per dollar to N360/ dollar and N379 per dollar.

In 2020, the CBN admitted the country had a foreign exchange backlog of over $2bn, according to the apex bank.

https://thewhistler.ng/naira-set-to-hit-n500-at-parallel-market-after-cbn-devaluation/amp/?__twitter_impression=true

1 Like

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Whois(m): 7:42pm On May 27, 2021
Black market price is $1/500 already

82 Likes

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by alsudan: 7:43pm On May 27, 2021
The dullard promised 1 dollar = 1 naira, but by 2023, when he’s done with Nigeria, 1 dollar will be = 1000 naira.

245 Likes 16 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Eriokanmi: 7:44pm On May 27, 2021
It's already 500 naira. Throughout today, I looked everywhere to buy just 1k USD for less than 500 naira , no way! Everyone I met was offering to sell at 500 naira

119 Likes 7 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by mightyhaze: 7:46pm On May 27, 2021
Nothing moves us anymore..

Let it be 2k or more please..

59 Likes 4 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Nobody: 7:47pm On May 27, 2021
And some people are still supporting Buhari,
thunder fiiiiirrrrreeee Buhari and his supporters....

198 Likes 14 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by sebagonline: 7:47pm On May 27, 2021
More trophies to the APC gunment

74 Likes

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Eriokanmi: 7:47pm On May 27, 2021
alsudan:
The dullard promised 1 dollar = 1 naira, but by 2023, when he’s done with Nigeria, 1 dollar will be = 1000 naira.
me i know say e no dey possible. Only gullible youths believed them hook, line and sinker

41 Likes 1 Share

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by slivertongue: 7:51pm On May 27, 2021
buhari and his dumb appointees will destroy the little we survive on

50 Likes 2 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Jones4190(m): 7:52pm On May 27, 2021
If you are pregnant and you dreams about shoe just know that the man that got you pregnant will run away

25 Likes

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by kendrick9(m): 7:52pm On May 27, 2021
Naira might hit 1000 /$1 before 2023
With the way things are going..
Buhari Government has failed.

71 Likes 3 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Nobody: 7:52pm On May 27, 2021
shocked shocked shocked

1 Like

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by pdppower: 7:52pm On May 27, 2021
We warned some people then against voting the mannequin, but they claimed we were mad. Who is mad now?

107 Likes 5 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Damidave1124(m): 7:52pm On May 27, 2021
This Buhari's administration is making me to miss GEJ ooo.

33 Likes 1 Share

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Ololanla: 7:52pm On May 27, 2021
This present government is a big curse on this country. APC must never happen again!

47 Likes 2 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Emily22(m): 7:52pm On May 27, 2021
This thing no funny again o


Aswear

All china agent don dey charge N505 naira per dollar now.....

Which kin mistake we make like diz......by the time diz zombie leave power ... everything go don crumble

30 Likes 1 Share

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by SILVERLINES: 7:52pm On May 27, 2021
cheesy


Zooooo don finish kpatakpata

5 Likes

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Mindlog: 7:52pm On May 27, 2021
Yawns.
Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by TimmyTen(m): 7:52pm On May 27, 2021
Dangers and ripple effects of clueless administration

1 Like

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by EyezofGod120: 7:52pm On May 27, 2021
grin when this people finish with us,,dem zombe wey dey here on nairaland no get fit afford 100 to sub for them to spit dem trash again grin grin

25 Likes 2 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by FalseProphet1(m): 7:52pm On May 27, 2021
I see the naira hitting N2,000 to $1 by 2023.

This I have seen.

41 Likes 2 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Asgard73: 7:52pm On May 27, 2021
We must all support third term agenda

11 Likes 3 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Zico5(m): 7:53pm On May 27, 2021
The future of this country is bleak. If urgent measure is not taken about this Buhari, the worst will surely happen. Very soon common man will not be able to even eat not to talk of clothing and shelter. Buhari is truly a calamity.

37 Likes 2 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Reelmii: 7:53pm On May 27, 2021
Haaaaa

How will the common man survive

Cost of living keeps going up

Dollar is also going up
Meanwhile, there is no increase In salaries
But salaries are being slashed, some workers are being owed.... which way Nigeria,,, tell me why crime rate will not increase

33 Likes 3 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by jaheymezz(m): 7:53pm On May 27, 2021
Funny how many were tricked with the line "I will make 1 naira equal to 1 dollar" ....as it is..Na to find job wey go dey pay u in foreign currency be the way because naira is getting irredeemably useless day by day

20 Likes 1 Share

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by ValCon888: 7:53pm On May 27, 2021
I left my money in dollars for a reason.
That's why it's good to work outside the Nigerian market so the economic bubble won't affect you.

50 Likes 1 Share

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by Nobody: 7:53pm On May 27, 2021
Awwwuh.. Naija which way nah?..
Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by ThatFairGuy: 7:53pm On May 27, 2021
I think Emefiele should be relief of the job for now, let's try someone else.

29 Likes 2 Shares

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by berbs: 7:53pm On May 27, 2021
Yeparipa. Egba mi ooo. This ain't nice at all.

1 Like

Re: Naira Set To Hit N500 At Parallel Market After CBN Devaluation by heartbraker(m): 7:54pm On May 27, 2021
G

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