Naira Shrinks To N1,135/$ At Parallel Market - Business (3)

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Naira Shrinks To N1,135/$ At Parallel Market - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Shrinks To N1,135/$ At Parallel Market (17093 Views)

Naira Appreciates To ₦‎1,650/$ At Parallel Market / Naira Trades At ₦1,730/$ At Parallel Market / Naira Drops At Parallel Market, Closes 900/$ At Official Window (2) (3) (4)

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Re: Naira Shrinks To N1,135/$ At Parallel Market by wman(m): 8:40am On Nov 09, 2023

M0H247:

This news gave me joy, abeg Zabira and Apex should not change rate oo

Go and learn profitable business

Exporters are cashing out

Freelancer are cashing out

People who should be trying to make money in Dollars are lazying about on Nairaland lamenting

.

The problem is the things they are buying will also increase in price too.

Re: Naira Shrinks To N1,135/$ At Parallel Market by Angelfrost(m): 8:40am On Nov 09, 2023

M0H247:

This news gave me joy, abeg Zabira and Apex should not change rate oo

Go and learn profitable business

Exporters are cashing out

Freelancer are cashing out

People who should be trying to make money in Dollars are lazying about on Nairaland lamenting

.

I make money weekly in Dollars, but such news can never give me joy.

The far reaching impact on the nation will be deadly...!

A nation deeply based on Importation will sink economically and inflation will be over the roof.

The poor will not just roll over and die of hunger... They will go after the rich. Crime rate will be astronomical.

At this rate, everyone might start thinking of getting firearms.

4 Likes

Re: Naira Shrinks To N1,135/$ At Parallel Market by Carlyboi(m): 8:43am On Nov 09, 2023

Why exactly do we have the bank rate when it’s literally useless to the fx needs of an average Nigerian? Just scrap the thing if a uniform rate can’t be achieved.

How on earth are BDCs able to get dollars to sell at black market rates but banks don’t have dollars to give when you get to their damn offices? if not for monetary malfeasance, round tripping and sharp practises in the Nigerian financial and banking sector (industry).

All of Una Dey craze!

4 Likes

Re: Naira Shrinks To N1,135/$ At Parallel Market by MindOnMatters00(m): 8:47am On Nov 09, 2023

wirinet:

All these suggestions are chasing shadows while leaving the substance. The real issue is demand for dollars to import most of our consumables instead of local production and exports.
The government has discouraged exports through various bottlenecks, corruption, lack of infrastructure and basically lack of interest in improving Nigeria's productive base. To exprot anything nowadays is a herculean task. The cost and bottle necks are outrageous.

The Naira will continue to fall until something gives. Either poverty will unite us and then lead to a major revolution or a major conflict will break the country into pieces.

I have said all this in previous posts and threads so I understand you.

Naira appreciating is just a speculation which majority of Nigerians don't want to believe.

Re: Naira Shrinks To N1,135/$ At Parallel Market by Trojan8(m): 8:48am On Nov 09, 2023

yahoodetector:
When I said it last week that the Naira will definitely fall further, these jokers (samsard and Trojan8) were busy arguing and saying I am not an investor.

APC Government is very predictable and anyone waiting for anything positive from them is living in Utopia.

I have shored up dollars and waiting for N2000+

Would have shored up more only say dollars scarce now apart from passive online income.

Athena6...hope you are seeing this?

You are quoting me when it is not up to a #2,000. Take your time to read everything I wrote on the thread. I clearly maintained the uptick was in the short term but I still would not agree to your projection of #2,000 by December. Until that happens, stop quoting me looking for cheap likes. God bless you.

Re: Naira Shrinks To N1,135/$ At Parallel Market by Usmanovic95(m): 8:53am On Nov 09, 2023

M0H247:

This news gave me joy, abeg Zabira and Apex should not change rate oo

Go and learn profitable business

Exporters are cashing out

Freelancer are cashing out

People who should be trying to make money in Dollars are lazying about on Nairaland lamenting

.

Re: Naira Shrinks To N1,135/$ At Parallel Market by Menclothing: 8:54am On Nov 09, 2023

Lolz

Re: Naira Shrinks To N1,135/$ At Parallel Market by Angelfrost(m): 9:03am On Nov 09, 2023

ACRI:
The idiots celebrating this are betting against their country....your kids/ future kids will pay for it if you don't stop.

Americans don't bet against their currency by storing up foreign currency like pounds sterling

All of you have been mad doing this are crazy irredeemable people....

We need a millitary style leadership from PBAT, he needs to take drastic actions against UNPATRIOTIC elements, the act should be treasonable and people jailed for it !!!!

Quit talking like a petulant child.

Blame no one else but those you elected.

Citizens are not in control of the financial markets... Your leaders are.

You can't compel or demand patriotism when those in power don't even want the nation's progress.

Do the right thing, and even the worst citizens will fall in line. Simple.

7 Likes 2 Shares

Re: Naira Shrinks To N1,135/$ At Parallel Market by yankison(m): 9:03am On Nov 09, 2023

M0H247:

This news gave me joy, abeg Zabira and Apex should not change rate oo

Go and learn profitable business

Exporters are cashing out

Freelancer are cashing out

People who should be trying to make money in Dollars are lazying about on Nairaland lamenting

.

Na ur brain lazy coz u fail to think that the dwinling Naira is affecting the purchase price & when u make you unfortunate Dollars u shouting about ,is it not in Naira u are going to spend it and price of everything is on the high so there is nothing really to be happy about ...

Re: Naira Shrinks To N1,135/$ At Parallel Market by Oliver14(m): 9:05am On Nov 09, 2023

You will still come and buy rice 3000 per measure and then you will understand why we want the rate to go down. No matter how much money you make from the increase of dollar it's still useless due to the inflation it causes.

yahoodetector:
When I said it last week that the Naira will definitely fall further, these jokers (samsard and Trojan8) were busy arguing and saying I am not an investor.

APC Government is very predictable and anyone waiting for anything positive from them is living in Utopia.

I have shored up dollars and waiting for N2000+

Would have shored up more only say dollars scarce now apart from passive online income.

Athena6...hope you are seeing this?

1 Like 1 Share

Re: Naira Shrinks To N1,135/$ At Parallel Market by Usmanovic95(m): 9:06am On Nov 09, 2023

M0H247:

This news gave me joy, abeg Zabira and Apex should not change rate oo

Go and learn profitable business

Exporters are cashing out

Freelancer are cashing out

People who should be trying to make money in Dollars are lazying about on Nairaland lamenting

.

Some people belong to utilitarian school of thought,if a policy is not beneficial to larger population it's null and void.If you are cashing out of this current mess our economy is facing,what about the illiterate downtrodden who actually make up the large percentage of our population who will never Decipher your explanation about how to make money as a freelancer no matter how you explain.
A time will come you won't even feel comfortable to show off your wealth cos you will be a target for the large population of the poor in the society.

1 Like

Re: Naira Shrinks To N1,135/$ At Parallel Market by Tijani009: 9:10am On Nov 09, 2023

DaTruths:
I said it earlier that the Only people that will sell their dollar are those that are dumber than Tinubu.

Tinubu don play una to sell una dollar.

I will say it again, before Easter next year, the Dollar would be around NGN 5,000.

It's about to go down.

Emilonukwus has finally favored me and my family.

What will you gain if the naira fall? Stop prediting rubbish, you no get where you day go we are all in this, so stop acting as if it would not affect you too

Re: Naira Shrinks To N1,135/$ At Parallel Market by Efilse: 9:27am On Nov 09, 2023

GET ANY BOOK OF ANY AUTHOR FOR HALF THE PRICE

SEND A MESSAGE ON WHATSAPP 08174686962

Re: Naira Shrinks To N1,135/$ At Parallel Market by VeeVeeMyLuv(m): 9:31am On Nov 09, 2023

Tijani009:

What will you gain if the naira fall? Stop prediting rubbish, you no get where you day go we are all in this, so stop acting as if it would not affect you too

Ask your Boss at the helm what he will gain if Naira falls

Judging from his body language, he is not perturbed or concerned at all. As in nothing concern him, he no send at all. He doesn't give a damn. What concerns him is how to remain in power for as long as possible.

Re: Naira Shrinks To N1,135/$ At Parallel Market by Splashme: 9:32am On Nov 09, 2023

Terrible

Re: Naira Shrinks To N1,135/$ At Parallel Market by Calitoscassius(m): 9:33am On Nov 09, 2023

schoolboymatt:
I bought @ 1250 somes weeks ago. Now this!

this is a bad good news for me.

Just hold on to it be patient. It will exceed 1300 soon

Re: Naira Shrinks To N1,135/$ At Parallel Market by IamAtikulate: 9:35am On Nov 09, 2023

Tinubu is highly over-rated.

Even, fools know that temporary measures like injecting dollar into the market to clear backlog will cause dollar to fall in the short-term, encouraging people to buy the dip for hoarding. How our Yoruba people failed to understand this surprises me.

It seems these guys sucks at national leadership.

For a starter, the FG should allow Nigerians to make USD payments with their Naira cards and ban physical dollar bank withdrawals. This will help unify the exchange rate.

3 Likes 1 Share

Re: Naira Shrinks To N1,135/$ At Parallel Market by FireUpNow(m): 9:35am On Nov 09, 2023

Is thos the benefit of the fuel subsidy removal gains where the FG is claiming th y have saved several trillions of naira? Audio. To I u and his geng have turned the naira I to a tissue paper.

Re: Naira Shrinks To N1,135/$ At Parallel Market by Fearyourcreator: 9:35am On Nov 09, 2023

yahoodetector:
When I said it last week that the Naira will definitely fall further, these jokers (samsard and Trojan8) were busy arguing and saying I am not an investor.

APC Government is very predictable and anyone waiting for anything positive from them is living in Utopia.

I have shored up dollars and waiting for N2000+

Would have shored up more only say dollars scarce now apart from passive online income.

Athena6...hope you are seeing this?

You will cry , just wait

1 Like

Re: Naira Shrinks To N1,135/$ At Parallel Market by Calitoscassius(m): 9:40am On Nov 09, 2023

Usmanovic95:

Some people belong to utilitarian school of thought,if a policy is not beneficial to larger population it's null and void.If you are cashing out of this current mess our economy is facing,what about the illiterate downtrodden who actually make up the large percentage of our population who will never Decipher your explanation about how to make money as a freelancer no matter how you explain.
A time will come you won't even feel comfortable to show off your wealth cos you will be a target for the large population of the poor in the society.

Therefor he should not cash out?

When the time comes for wealth show off he will employ the Naigerian lazy corrupt money hungry police and army to protect him. grin

isn't that what most wealthy folks do in naigeria. There are other wealthy people in Naigeria why would he be worried?

Re: Naira Shrinks To N1,135/$ At Parallel Market by wirinet(m): 9:41am On Nov 09, 2023

MindOnMatters00:

I have said all this in previous posts and threads so I understand you.

Naira appreciating is just a speculation which majority of Nigerians don't want to believe.

All currency value, in fact the whole of modern day economics is based on speculation. Its speculation that makes people buy shares, commodities, crypto, gold and certainly currencies. Demand and supply curves is ruled by speculation.

The question we should be asking is why is the general concensus (speculation) of the naira always on the upwards trend? The answer lies in the demand and supply curve.

1 Like 1 Share

Re: Naira Shrinks To N1,135/$ At Parallel Market by dealslip(f): 9:44am On Nov 09, 2023

BrodaBenad:
Propaganda doesn't run a government

Yorubas are the most overated people in Nigeria no cap. this administration will prove it

Technocrats my ass

Your comments seriously over rates you.

Re: Naira Shrinks To N1,135/$ At Parallel Market by wirinet(m): 9:49am On Nov 09, 2023

IamAtikulate:
Tinubu is highly over-rated.

Even, fools know that temporary measures like injecting dollar into the market to clear backlog will cause dollar to fall in the short-term, encouraging people to buy the dip for hoarding. How our Yoruba people failed to understand this surprises me.

People with lots of money trading the naira are making a killing. Imagine buying the dip at N950 and selling at N1150 just a week layer, or waiting a few weeks when December rush starts and selling above N1200 - N1300.

It seems these guys sucks at national leadership.

Nigeria has lost national leadership since after the first republic. Now we have even lost regional leadership.

For a starter, the FG should allow Nigerians to make USD payments with their Naira cards and ban physical dollar bank withdrawals. This will help unify the exchange rate.

Disaster.
As long as nigeria and Nigerians are not earning dollars, but demand dollars to import goods and services from overseas, naira will jump ballistically to N2000.

1 Like 1 Share

Re: Naira Shrinks To N1,135/$ At Parallel Market by Calitoscassius(m): 9:54am On Nov 09, 2023

Naira will keep depreciating until people would need a wheelbarrow to carry money for a loaf of bread. grin

Re: Naira Shrinks To N1,135/$ At Parallel Market by yahoodetector: 9:58am On Nov 09, 2023

Trojan8:

You are quoting me when it is not up to a #2,000. Take your time to read everything I wrote on the thread. I clearly maintained the uptick was in the short term but I still would not agree to your projection of #2,000 by December. Until that happens, stop quoting me looking for cheap likes. God bless you.

I will still ring you up when it hits 2k plus and you will still say I am looking for cheap likes when it does grin

Re: Naira Shrinks To N1,135/$ At Parallel Market by Mrfeel: 9:58am On Nov 09, 2023

ACRI:
The idiots celebrating this are betting against their country....your kids/ future kids will pay for it if you don't stop.

Americans don't bet against their currency by storing up foreign currency like pounds sterling

All of you have been mad doing this are crazy irredeemable people....

We need a millitary style leadership from PBAT, he needs to take drastic actions against UNPATRIOTIC elements, the act should be treasonable and people jailed for it !!!!

You are mad , everyone is struggling for his own benefit the government is not feeding anyone so get lost , we didn't steal the dollars we are keeping we bought it

Re: Naira Shrinks To N1,135/$ At Parallel Market by yahoodetector: 10:00am On Nov 09, 2023

Fearyourcreator:

You will cry , just wait

Same thing people like you said by this time in 2015 when buhari took over power...

Na you go cry well well as tears are already beginning to build up in your eyes now. grin

2 Likes

Re: Naira Shrinks To N1,135/$ At Parallel Market by Ykc2(m): 10:04am On Nov 09, 2023

November 15th dem dey pay double salary if you dey work for austria , 1 can't wait to take my 3400 euros commot 800euros for expenses send 2600euros to my naija account,€2600 ×1200naira 3,120,000 naira Well not bad ,make una dey there dey shout emilokan

1 Like

Re: Naira Shrinks To N1,135/$ At Parallel Market by clems88(m): 10:06am On Nov 09, 2023

schoolboymatt:
I bought @ 1250 somes weeks ago. Now this!

this is a bad good news for me.

I'm just hoping for it to get back to 1200

Re: Naira Shrinks To N1,135/$ At Parallel Market by NJV: 10:06am On Nov 09, 2023

And that girl was crying last week that she's lost over 400k. If only she cld see the future!

2 Likes

Re: Naira Shrinks To N1,135/$ At Parallel Market by gasparpisciotta: 10:09am On Nov 09, 2023

wirinet:

Credit for what exactly? Credit for local manufacturing and agriculture or Credit for consuming imported products? How will the Credit be paid back, if not used for production and investments?

A lot of small businesses will scale up if credit is available.
Barbers, Tailors, Market women, viewing centers, petty traders etc

Re: Naira Shrinks To N1,135/$ At Parallel Market by Squirrel1(m): 10:15am On Nov 09, 2023

Abrah20:
2000 soon, insha Allah

u are mad

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