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Nairaland Forum / Nairaland / General / Business / Traders Lose As Naira Rebounds To 720/Dollar (26873 Views)
Naira Plunges To N1,900, Rebounds To N1,354 Then Dips To N1,700/$ / Naira Rebounds As Banks Offload Excess Dollars / Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market (2) (3) (4)
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Re: Traders Lose As Naira Rebounds To 720/Dollar by ALTERNATEID: 6:58am On Nov 11, 2022 |
Ddworld: If you’re part of the unpatriotic elements buying up dollars to weaken the Naira, your loss has just started. You all will lose and disgraced. Nigeria shall overcome all you unpatriotic economic scoundrels. 1 Like |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Realist12: 7:18am On Nov 11, 2022 |
All of these boils down to patriotism, some people have lost faith in Nigeria and the naira. We see people promoting saving in dollar ,preaching fall for the naira. But the CBN governor is doing a good job . Kudos 6 Likes |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Elliotwaveforec: 7:24am On Nov 11, 2022 |
Penguin2:Nigeria doesn't even import much outside refined crude oil. Do you know that 70% of our imports is refined crude oil? And the remaining 30% is other products. By the time we start refining our oil, I see Dollar at 250, if only the government can sustain the clampdown on speculators both offline (BDC) and online (crypto arbitrageurs and P2P); the players mentioned cause artificial exchange rates. 6 Likes |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Nobody: 7:50am On Nov 11, 2022 |
Fake news! Its 920. |
Re: Traders Lose As Naira Rebounds To 720/Dollar by DissTroy(m): 7:53am On Nov 11, 2022 |
Imagine celebrating 720 exchange rate as a rebound? Same exchange which was 500 earlier in the year. You've become so pitifully stoic that you can stomach the shit you ate fed with and wash it down with urine. 720 is not a rebound. 2 Likes |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Brunicekid(m): 7:55am On Nov 11, 2022 |
Peterobi90:500 is not low abeg, 150 is lower than 500. |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Racoon(m): 7:56am On Nov 11, 2022 |
This is the effects of Buhari economics. |
Re: Traders Lose As Naira Rebounds To 720/Dollar by PJ123: 7:57am On Nov 11, 2022 |
Viscuz: Why is this your prayers? What do stand to gain in all of these? |
Re: Traders Lose As Naira Rebounds To 720/Dollar by pquaver(m): 7:57am On Nov 11, 2022 |
Acidosis: Don't forget Biden also announced that dollars printed after a certain time will become useless |
Re: Traders Lose As Naira Rebounds To 720/Dollar by uuzba(m): 7:58am On Nov 11, 2022 |
Realist12:People stop being patriotic to the nation when the government starts to cheat them. Eg, government officials having uncountable allowances, or travelling overseas for medical treatment, or using foreign goods instead of local ones. These are the things that piss the people off. As you can see then, it has been very long people stopped being patriotic. 5 Likes |
Re: Traders Lose As Naira Rebounds To 720/Dollar by tamdun: 8:00am On Nov 11, 2022 |
Ddworld:U can go and get urs from aboki, we nigwlike doing things the wrong way, with valid documents you'll get dollars from bank |
Re: Traders Lose As Naira Rebounds To 720/Dollar by uuzba(m): 8:01am On Nov 11, 2022 |
tamdun:But people get this dollars from bank and still give aboki to sell for them again. 1 Like 1 Share |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Nteogwuija(m): 8:01am On Nov 11, 2022 |
pquaver: This has been debunked. 1 Like |
Re: Traders Lose As Naira Rebounds To 720/Dollar by pquaver(m): 8:04am On Nov 11, 2022 |
Nteogwuija: OK thanks for the info |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Acidosis(m): 8:05am On Nov 11, 2022 |
pquaver: It is FAKE news. No educated person should believe such. |
Re: Traders Lose As Naira Rebounds To 720/Dollar by BannedUser: 8:08am On Nov 11, 2022 |
It will still get back up to 1000/$ in the long term because there's nothing our govt. is currently doing fundamentally to stop this from happening. It's just a matter of time... 2 Likes |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Viscuz: 8:10am On Nov 11, 2022 |
PJ123: And who told you it's my prayer. Why do you guys shy away from the truth ? You see white and call it black . Naira is dead hold your leadership accountable and stop thinking everything is spiritual 2 Likes |
Re: Traders Lose As Naira Rebounds To 720/Dollar by SerendipityHIGH: 8:12am On Nov 11, 2022 |
Peterobi90: Why will it get low? I need logical analysis pls 1 Like |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Treadway: 8:21am On Nov 11, 2022 |
Viscuz:prayer or not, me i sha want it to drop, and I believe it will (I didn't expect it this soon anyway), cos it's in my/our best interest for it to drop, and keep dropping anywhich way. All this story I don't understand, cos a situation is bad doesn't mean we should all decide to lose hope and burn a house down with us in it. |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Nobody: 8:23am On Nov 11, 2022 |
tamdun: Obviously, you've never applied for usd before. I am 100% sure YOU have NEVER in your life done that. Good luck 4 Likes |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Nobody: 8:24am On Nov 11, 2022 |
ALTERNATEID: Was that the reason why the Naira is weakened. So sad you don't know a thing. I won't blame the government if her citizens don't even understand the concept. Good luck |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Viscuz: 8:27am On Nov 11, 2022 |
Treadway: U type like someone educated now use that same education t do research. Your government didn't do jack shit . The fall was in the free market dollar is falling against all currency since yesterday. I know Nigerian propaganda government will take credit for it 1 Like 1 Share |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Treadway: 8:27am On Nov 11, 2022 |
BannedUser:this sharp drop points clearly to the fact that despite the useless govt and it's inefficiencies, the sharp jump was manipulated. 200ngn drop in 24hrs with no economics is significant proof of this. I was actually hoping that maybe post election, after the japa wave also may have reduced a bit due to pple wey wan cut-out wey go don cut-out Dec, Jan especially. The japa wave is also a major reason it is high with too many ppl scrambling for few dollars all at once. The entire japa process is largely done with forex and the demand is too high. I didn't expect it to come down this fast at all. Someone told me yday face to face and I just waved it off as a rumour or something, cos that drop was too much. 1 Like |
Re: Traders Lose As Naira Rebounds To 720/Dollar by oluwaseyi0: 8:27am On Nov 11, 2022 |
tamdun: But the CBN rate is only available to the government cronies You can't walk into any bank with 440k and walk out with a thousand dollar |
Re: Traders Lose As Naira Rebounds To 720/Dollar by deltateam: 8:33am On Nov 11, 2022 |
adioolayi: The redesign is a good policy as it exposed the corruption of our politicians. They are very greedy and outright wicked. If you see how some of them hoarded billions of naira in rooms as seek in videos, you will weep. 1 Like |
Re: Traders Lose As Naira Rebounds To 720/Dollar by Joebayo217: 8:35am On Nov 11, 2022 |
quentin06:no na u dey spread fake news |
Re: Traders Lose As Naira Rebounds To 720/Dollar by kmaster007: 8:41am On Nov 11, 2022 |
I need to buy and keep dollars now bfor it goes up again |
Re: Traders Lose As Naira Rebounds To 720/Dollar by pinkcottoncandy: 8:56am On Nov 11, 2022 |
Penguin2: which naira design?....Dollar fell globally against all currencies yesterday due to a drop in USA consumer price index the immediate effect of the redesigning of naira was a significant depreciation of the naira to an all time lowest point. let your ignorance not give credit to APC or CBN where it is not due |
Re: Traders Lose As Naira Rebounds To 720/Dollar by VawulenceProMax: 8:59am On Nov 11, 2022 |
This was as. Result of some crypto saga . It has nothing to do with cbn |
Re: Traders Lose As Naira Rebounds To 720/Dollar by doshiyad1: 9:02am On Nov 11, 2022 |
Penguin2: Oya make them begin to show their face make we know our enemies in this country them |
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