Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market - Politics

Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market (12710 Views)

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Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by Racoon(op): 12:29am On Aug 24, 2023

The naira, on Wednesday, depreciated by 0.35 percent to close at N773.4/$ at the investors and exporters (I&E) window.

Data from FMDQ Securities Exchange, a platform that oversees foreign exchange (FX) trading in Nigeria, showed that the local currency opened with an exchange rate of N781.49 to the dollar and sold for an intra-day high of N799.9/$ before it settled at N773.4/$.

A total of $45.34 million in FX value was traded at the I&E window on Wednesday. Meanwhile, at the parallel market where the dollar is traded unofficially, Bureaux De Change (BDC) operators who spoke to TheCable in the Victoria Island area of Lagos said there is still high demand for dollars from importers and travellers.

The traders put the buying price of the dollar at N885 and the selling price at N905, leaving a profit margin of N20. “Demand is still high. The dollar has been going up too,” Muhammad, a currency trader in the market, told TheCable.Last Friday, one dollar was sold for N865 at the parallel market.

The Central Bank of Nigeria (CBN) recently released fresh operational mechanisms for the sale of forex by BDC operators within the country. The development comes 25 months after Godwin Emefiele, the suspended CBN governor, announced the discontinuance of foreign exchange sales to that segment of the forex market.

https://www.thecable.ng/naira-weakens-to-n773-4-at-ie-window-n905-at-parallel-market/amp

3 Likes

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by Lastmankc(m): 12:33am On Aug 24, 2023

Oya,where are the Ebola miscreants,the Naira rate we favour me and my family.

86 Likes 7 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by Racoon(op): 12:34am On Aug 24, 2023

The naira depreciated by 0.35 percent to close at N773.4/$ at the investors and exporters (I&E) window......The traders put the buying price of the dollar at N885 and the selling price at N905

Balabloo-blu-bulava economics of liars, scammers, fraudsters and propagandists @ work.

74 Likes 10 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by Taylor90: 12:34am On Aug 24, 2023*

Shebi una say this man na first class accounting graduate from Chicago

So why is he running this government like who studied zoology

146 Likes 24 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by Racoon(op): 12:36am On Aug 24, 2023

Lastmankc:
Oya,where are the Ebola miscreants,the Naira rate we favour me and my family.

Hehehe! Austerity measures have set in that those of them who can't afford the full cost of their one infamous cornful can now be accommodate to managed half agbado. It must favour them o.

29 Likes 2 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by MrsTwrite(f): 5:26am On Aug 24, 2023

Both the Naira and Nigeria no work!

13 Likes 3 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by MadamExcellency: 5:46am On Aug 24, 2023

I thought the liberalization of the Forex market eliminated the official and black market dichotomy.

Why then was Naira devalued from the official N460?

73 Likes 6 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by ideynl1: 5:55am On Aug 24, 2023

Anyone Yoruba support politically is doomed, it will crash and fail.

Just check how Buhari they supported plunged the country into disaster. They also supported Tinubu, who is currently plunging the country to disaster pro max.

Yorubas don’t make good political choices in the centre.

After voting disasters they end up becoming bambialla queuing up to be fed with Agbado, Cassava and Ewa.

CORNfused set.

Quite unfortunate.

96 Likes 18 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by Tochi3(m): 5:58am On Aug 24, 2023*

A drug baron without a certificate in Accountancy. See what emilokan tribalism has done to Nigeria.

The fake transformer of Lagos has gone back & swallowed his vomits..

The emilokans will be gnashing profusely

39 Likes 2 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by crossfm: 6:14am On Aug 24, 2023

Hehehe.

This is really getting out of hand.

After all the measures the CBN promised to put in place,and this is still happening.

The trial and error is not working at all.

32 Likes 7 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by Godjone(m): 6:17am On Aug 24, 2023

Ebola tinubu must bury this country. Buhari killed Nigeria but Ebola came to organize her funeral.

Emilokans miscreants how far

45 Likes 5 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by valentineuwakwe(m): 6:31am On Aug 24, 2023

This rocket man go reach 1000Naira soon!

12 Likes 2 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by ngeneukwuewuGOAT: 6:36am On Aug 24, 2023

The idiot presidiot is frittering our money and using it to smoke cocaine and heroin. Useless Escobar

38 Likes 5 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by DeLaRue: 6:39am On Aug 24, 2023

Government doesn't control black market price. It is up to the buyer and seller to deal at whatever price suits them.

The government only has direct influence on the I & E window which is around N780. Big companies and many others who have legitimate reasons can buy dollars from banks.

Many of those desperately buying at any price on the black market are using hundreds of billions stolen under Mr Buhari's government. They can't come out openly to buy through official channels.

If they like, they should push the black market rate to N1500, it is up to them.

The government can only focus on the I & E market.

5 Likes 2 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by Bridget95(f): 6:41am On Aug 24, 2023

2000 naira per dollar before 2024

13 Likes

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by igwebuike01: 7:22am On Aug 24, 2023

E-bola on the beat

14 Likes 1 Share

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by Guyman01: 7:26am On Aug 24, 2023

The report by JPMORGAN about our external reserves been very poor at $3B and not $38B as published by APC propaganda miscreants is the cause of this current slump despite Tinubu borrowing $3B to shore up the Naira

18 Likes 2 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by emmanuelbrown26: 7:49am On Aug 24, 2023

Lolssssss una never see anything. Tinubu did not promise u guys anything, he only said its his turn that's all.
All man for himself, by d time drug lord finishes with Nigerians, their eyes go clear.
D funny thing about this whole shit is that, most EMI lokans barely feed well dis day and d always support every nonsense

38 Likes 4 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by Prince111111: 8:28am On Aug 24, 2023

This man would remain the worst president to rule Nigeria. I pray he is really on borrowed time 🙏🙏🙏

21 Likes 2 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by sotall(m): 9:30am On Aug 24, 2023

This weakening of the naira shall favour me and my family.

20 Likes 2 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by Alozist: 9:31am On Aug 24, 2023

So Bad

1 Like

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by iwaeda: 9:31am On Aug 24, 2023

Racoon:
https://www.thecable.ng/naira-weakens-to-n773-4-at-ie-window-n905-at-parallel-market/amp nlfpmod

Tinubu does not know what economy diversification means. Our economy depends on dollar, we import raw materials and machineries. Nothing will change. Even ban BDC. grin

10 Likes

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by DropsMic(m): 9:31am On Aug 24, 2023*

Balablu is working

6 Likes

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by OneMillionBTC: 9:32am On Aug 24, 2023

Provided we still have arbitrage between the two markets, Dollar Subsidy still exist.

2 Likes

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by tesppidd: 9:32am On Aug 24, 2023

Renewed Shege..

He has hit the ground running..

When he was signing bills and arresting people in his first week, his minions nor let us hear word.

107 Likes 8 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by LZAA: 9:32am On Aug 24, 2023

ideynl1:
Anyone Yoruba support politically is doomed, it will crash and fail.

Just check how Buhari they supported plunged the country into disaster. They also supported Tinubu, who is currently plunging the country to disaster pro max.

Yorubas don’t make good political choices in the centre.

After voting disasters they end up becoming bambialla queuing up to be fed with Agbado, Cassava and Ewa.

CORNfused set.

Quite unfortunate.

😄😄😄😄

7 Likes 3 Shares

Re: Naira Weakens To N773.4/$ At I&E Window, N905/$ At Parallel Market by Blaze14k: 9:32am On Aug 24, 2023

Lol this clearly shows that ebola is deliberately messing up the economy. It also shows the naira was devalued. I'm sorry to say buh ebola clearly scammed those who voted him

16 Likes 3 Shares