Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window - Business (3) - Nairaland
Nairaland Forum / Nairaland / General / Business / Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window (41703 Views)
Naira Falls To Record Low At I&E Window, Trades ₦993/$ / Naira Now Undervalued After Float, Bank Of America Says / Naira Loses To Dollar, Closes At 419 In "Official Market" (2) (3) (4)
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| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by chivic(m): 11:09am On Jun 15, 2023 |
GeneralPula: Right about the fact that official rate of dollars to naira which was around four hundred and something will go to sis hundred and something this week.To bridge the huge gap between the official rate and black market rate. Note the back market rate still stands at above 700/$ |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by crafteck(m): 11:10am On Jun 15, 2023 |
KingKO22: |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by bestpunterever: 11:10am On Jun 15, 2023 |
Ogene001:Ngige comparing to Jagaban, Just dey play. . Dey play... 2 Likes |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by Zedoo(m): 11:10am On Jun 15, 2023 |
fayomim: These are the issues. Most of you just waffle with your keyboard you don’t know anything in the real world. You don’t care to know either... When last did you buy dollar from any bank at “official” rate that is if the so called bank hasn’t been raided by politicians who stockpile and give to their cousins to sell on the streets. Most of you don’t know anything about economics you just talk. 5 Likes |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by dalass(f): 11:10am On Jun 15, 2023 |
Nonybb: I have converted the less than 1k dollars that was just there when my bank all of a sudden started to deduct from my account. And I am happy for it. This naira must appreciate by force by fire. Japa sef go reduce 1 Like |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by Theboss001: 11:10am On Jun 15, 2023 |
IduNaOba: It's risen on paper, just like buhari made 1dollar to 1naira on paper 1 Like |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by IamV: 11:10am On Jun 15, 2023 |
Follow Tinubu & HE peter obi live court updates for today,15TH JUNE ,2023 here ; https://www.nairaland.com/7728770/peter-obi-vs-tinubu-15th#123807392 you're welcome. 1 Like |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by Mboi: 11:10am On Jun 15, 2023 |
forgiveness:I'm sure you don't understand English 4 Likes |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by SirLakes: 11:10am On Jun 15, 2023 |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by JuanDeDios: 11:11am On Jun 15, 2023 |
Ogene001:BDCs are not out of business. And shame on you for seeing only the tribal angle. You hurt no one but yourself by saying things like this. 2 Likes |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by greatiyk4u(m): 11:11am On Jun 15, 2023 |
Parachoko: Banks not selling below 750 |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by sogodihno: 11:11am On Jun 15, 2023 |
Ogene001: Nigeria is not Anambra,get sense 1 Like |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by Beverlyjean(f): 11:12am On Jun 15, 2023 |
So they have devalued the Naira again ...using stupid theory to deceive agbadorians and they are celebrating like fools 9 Likes 2 Shares |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by itsene: 11:12am On Jun 15, 2023 |
Ogene001:Cutting your nose to spite your face. They are doing the same thing to Soludo. Self- destruction is an illness. |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by ipobarecriminals: 11:12am On Jun 15, 2023 |
 no need to withdraw any his case. Allow him to SCAM the gullible Eluuups.Let them continue to contribute their Gala plus lavasa money on fruitless ventureKingKO22: |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by NOETHNICITY(m): 11:12am On Jun 15, 2023 |
Kenneth4u205:who send mumu man go black market. |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by blowjohn(m): 11:13am On Jun 15, 2023 |
Parachoko: Dollar was 750 yesterday in abuja at the black market. Don't know where he bought his frm. 1 Like |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by baralatie(m): 11:13am On Jun 15, 2023 |
But it is selling at #700 to #800 at the parrellel market na So the problem is still there na 2 Likes |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by baralatie(m): 11:14am On Jun 15, 2023 |
blowjohn: |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by grandstar(m): 11:14am On Jun 15, 2023 |
Kenneth4u205: The rate at the black market won't crash until CBN resumes sales of dollars to the Bureau De Changes. Dollars grom there flows straight into the black market. |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by dacool1(m): 11:15am On Jun 15, 2023 |
I'm quite surprised at the way people are trying to make devaluing your currency an achievement. For goodness sake Nigerians are really gullible people. Praising the president for losing about 50% of the value of our currency in 2weeks. Your savings in naira just lost about half its value and you consider this wonderful. The only thing that impresses me about this is how he is doing all these with little resistance from the masses. Fuel sells around 500 to 600 yet we are praising him. He really has a great influence over the people or should I just say people are deliberately foolish. Once again there is no such thing as market forces without influence. For those of you thinking competition will force prices down, you have no idea how business works. The whales will only try to eliminate the smaller fishes before going into beast mode. The whales will simply form a price rings. Take OPEC for example an association of competitors whose aim is to increase the price Some strong economies of the world do not allow their currencies to float because of the exploitative nature of capitalism. Forget all these nonsense about these floating of the currency, it's just a condition that needs to be met to obtain further loans. Don't get me wrong I'm not saying these moves are right or wrong, I'm just saying none of these policies are beneficial to the poor anytime soon. Brace up for some serious inflation 13 Likes 2 Shares |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by Bluntemperor: 11:15am On Jun 15, 2023 |
Ogene001: Continue to live in illussion of Elections loss! If you think Tinubu have time for people like you still nursing animosities over politicians that lost out,then you are just not real |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by SmartyPants(m): 11:16am On Jun 15, 2023 |
BloomingDale: No the paper was not right. At the time of writing there was no sucg move even though Tinubu jas always said he would do it. |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by OgideAgu: 11:18am On Jun 15, 2023 |
We hope for the best We sell anything materials |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by Nobody: 11:18am On Jun 15, 2023 |
Officially 1 dollar equals 465.50 Naira But on the black market 1 dollar equals 750 - 765 Naira 1 Like
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| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by Segzy19: 11:18am On Jun 15, 2023 |
Thunder and lightning kill you there. Oloriburuku omo ale.... BloomingDale: |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by eseelvis: 11:18am On Jun 15, 2023 |
Kenneth4u205: Which bank did you buy from or you went to aboki. |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by na2016: 11:18am On Jun 15, 2023 |
Parachoko: Banks will still tell you they don't have and will direct you to an aboki. |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by Edusouls(m): 11:19am On Jun 15, 2023 |
Ogene001:hei shut up, that man knows governance like the back of his palms, no be today something, check his records as Lagos state government, he turned Lagos into a bustling and economically hub of Nigeria 1 Like |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by gosmoney(m): 11:19am On Jun 15, 2023 |
GeneralPula:I don't think he do with his jagons 1 Like |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by TheOldGods: 11:19am On Jun 15, 2023 |
Kenneth4u205:Cbn rate doesn't exist anymore. We only have the black market rate, which is still selling at 760 at this instant |
| Re: Naira Begins Recovery After Float, Closes At ₦664/$ At I&E Window by Flets: 11:19am On Jun 15, 2023 |
It’s not that simple. Foreign exchange is not something you fix in your room and expect the world to abide by. Nigeria must have a product or service to offer the globe in exchange for the FX. None of that has changed and our export volumes are stagnant and even retrogressing. What is Nigeria’s balance of trade to the point of floating fx?, I am not saying that the gap between CBN rate and parallel market market should be left as is … definitely, efforts should be made to bridge the gap through devaluation, more USD supply and relaxing some of the fx transaction restrictions For Nigeria to conveniently float the rates, we must get our balance of trades rights. Until then, the CBN must have some control over the rates. The parallel market is sustained by real fx demands which you can’t wish away. USD will exchange for 1000 naira in 2 months 3 Likes |
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