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Naira Shrinks To N1,135/$ At Parallel Market - Business (4) - Nairaland

Nairaland ForumNairaland GeneralBusinessNaira Shrinks To N1,135/$ At Parallel Market (20077 Views)

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Re: Naira Shrinks To N1,135/$ At Parallel Market by BluePrincee: 10:16am On Nov 09, 2023
schoolboymatt:
I bought @ 1250 somes weeks ago. Now this!

this is a bad good news for me.
Just hold. Don't sell at a loss. It will go up. Usually, it drops during the Christmas season because Nigerians abroad send money to their families back home
Re: Naira Shrinks To N1,135/$ At Parallel Market by BluePrincee: 10:19am On Nov 09, 2023
luizpippo:
Where is that guy insulting me on Tuesday?

Those making mockery of the #8million guy are now silent.
Who is the N8m guy? i missed the story what happened?
Re: Naira Shrinks To N1,135/$ At Parallel Market by phemmyfour: 10:23am On Nov 09, 2023
sucess001:
Lol. They said they will shock us with 500 naira to a dollar.

Like exchange rate is electricity 🤣
You dey mind them. They said we are unpatriotic. Being patriotic doesn't mean we should lose our senses
Re: Naira Shrinks To N1,135/$ At Parallel Market by karkinase(m): 10:24am On Nov 09, 2023
eteebanky1:
Stupid citizens are the ones sabotaging this economy

You dy hoard Dollars and you expect our local currency not to shrink

Na Ogun go kill you

Those stupid fintech apps selling dollars joy knows no bound now, their prayers na make naira continue to shrink
The citizens of this country muzz me Wallahi.. why you hoarding dollars for what exactly
Re: Naira Shrinks To N1,135/$ At Parallel Market by Usmanovic95(m): 10:26am On Nov 09, 2023
Calitoscassius:
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?
So you will employ people you give these kind of descriptions to guard you when a revolt starts? Sellouts who will throw you under the bus real quick and will participate in the looting spree afterwards.
Re: Naira Shrinks To N1,135/$ At Parallel Market by Trojan8(m): 10:27am On Nov 09, 2023
yahoodetector:
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 cheesy
Till then.
Re: Naira Shrinks To N1,135/$ At Parallel Market by Sportsolutions2(m): 10:27am On Nov 09, 2023
In All That You Do, Make Sure That You Are Earning in Dollars or Other International Currencies!


The Naira is Already Crippled By Deep Corruption of The System.


A Word is Enough for The Wise.
Re: Naira Shrinks To N1,135/$ At Parallel Market by Abrah20: 10:30am On Nov 09, 2023
Squirrel1:
u are mad
You had to insult me?
Re: Naira Shrinks To N1,135/$ At Parallel Market by DeepSight(m): 10:35am On Nov 09, 2023
wirinet:
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.
But all these years we were using the Nairacard for basic transactions online (Youtube Premium, Websites for example) nothing happened to the Naira. And it is also basic for people almost everywhere in the world to use their cards for such transactions. That policy has greatly handicapped us and it never showed any impact on the currency either way. You know where the impact came from, we all know.
Re: Naira Shrinks To N1,135/$ At Parallel Market by Deogratiasfx: 10:49am On Nov 09, 2023
sucess001:
Lol. They said they will shock us with 500 naira to a dollar.

Like exchange rate is electricity 🤣
Don't mind those guilible people supporting what they don't understand.
One was even crying on NL last week how he followed the advice of some people on NL and lost 400k and some people were forming authority on his issues. Let the govt continue with their bad policies.
Re: Naira Shrinks To N1,135/$ At Parallel Market by airsaylongcome: 10:51am On Nov 09, 2023
luizpippo:
Where is that guy insulting me on Tuesday?

Those making mockery of the #8million guy are now silent.
Lol! I remember one person saying it will take Dollar 7 years to get back to ₦1200+. Mocking the ₦8m guy. It's not even up to 7 days since their fake "NGN recovery" the thing is in its way back to ₦1300
Re: Naira Shrinks To N1,135/$ At Parallel Market by laprine(m): 10:58am On Nov 09, 2023
M0H247:
cool


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

What's up with zabira boss?


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 Revolva(m): 11:04am On Nov 09, 2023
etcme:
We have not started yet. We will deal with Obi and his Obidient group.

This shrinking and weakness owill favour me and my family.

On his mandate we stand.

On his Balablu I will stand.
One slowpoke here , how does the weaking of the economy favour you

Mumu black man with black heart shame to you
Re: Naira Shrinks To N1,135/$ At Parallel Market by etcme(m): 11:09am On Nov 09, 2023
Revolva:
One slowpoke here , how does the weaking of the economy favour you

Mumu black man with black heart shame to you
Read to understand and not to comment.

To whom brain is given, comprehension is expected.
Re: Naira Shrinks To N1,135/$ At Parallel Market by RealEzee(m): 11:16am On Nov 09, 2023
Somtin way b $1/#300 for my area na una know wia una dey shrink go

Wif ur apc card u r ballin
Re: Naira Shrinks To N1,135/$ At Parallel Market by airsaylongcome:
samsard:
US dollar rate drops in December due to abroad people coming and bringing FX, less spent on imports during holidays and crypto sell off to celebrate the holidays. The only reason it could be higher in the coming December versus previous month's would be speculators.
On the contrary, we spend considerably more during the festive season. Yes, FX inflow from IJGB but I expect that not to happen this year as there will be a final push to emigrate to Jand before the Window closes in January
Re: Naira Shrinks To N1,135/$ At Parallel Market by airsaylongcome: 11:31am 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.

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.
Please help me understand the bolded. How will USD payments with Naira cards improve the exchange rate?
Re: Naira Shrinks To N1,135/$ At Parallel Market by airsaylongcome: 11:38am On Nov 09, 2023
NJV:
And that girl was crying last week that she's lost over 400k. If only she cld see the future!
She doesn't understand the FX game. I don't know how she could say she lost ₦400k when she had not sold her USD.
Re: Naira Shrinks To N1,135/$ At Parallel Market by airsaylongcome: 11:40am On Nov 09, 2023
karkinase:
The citizens of this country muzz me Wallahi.. why you hoarding dollars for what exactly
For real? You are asking why people are hoarding USD? How about because it is a more stable currency.
Re: Naira Shrinks To N1,135/$ At Parallel Market by airsaylongcome: 11:43am On Nov 09, 2023
Deogratiasfx:
Don't mind those guilible people supporting what they don't understand.
One was even crying on NL last week how he followed the advice of some people on NL and lost 400k and some people were forming authority on his issues. Let the govt continue with their bad policies.
That was a she. And I just shook my head and moved on. It was clear she had absolutely no clue how FX "game" works
Re: Naira Shrinks To N1,135/$ At Parallel Market by ufotunang: 11:52am On Nov 09, 2023
See what APC and Tinubu has caused
Re: Naira Shrinks To N1,135/$ At Parallel Market by ufotunang: 11:52am On Nov 09, 2023
Renewed shege continues 🙄
Re: Naira Shrinks To N1,135/$ At Parallel Market by ufotunang: 11:52am On Nov 09, 2023
What do you expect when you vote an old man into power
Re: Naira Shrinks To N1,135/$ At Parallel Market by VeeVeeMyLuv(m): 12:02pm On Nov 09, 2023
Inflation higher than 5% is considered high inflation. Inflation of 50% or more per month is considered hyperinflation.
Re: Naira Shrinks To N1,135/$ At Parallel Market by Programmer47: 12:05pm On Nov 09, 2023
DeepSight:
But all these years we were using the Nairacard for basic transactions online (Youtube Premium, Websites for example) nothing happened to the Naira. And it is also basic for people almost everywhere in the world to use their cards for such transactions. That policy has greatly handicapped us and it never showed any impact on the currency either way. You know where the impact came from, we all know.
Tinubu supporters are dull naturally. Only corrupt or unintelligible folks support him and their unwavering stupidity is a tell tale sign.
The product that eats up our fx is Oil. Almost 70% is reserved for exporting crude and yet some idiots will come here and tell you how the common man is sabotaging the economy. Extremely dull sets of humans
Re: Naira Shrinks To N1,135/$ At Parallel Market by tnerro1(m): 12:08pm On Nov 09, 2023
Don’t be deceived, as the end of year approaches, dollar will rise as rich people and looting politicians look for it to take families and side chicks abroad for holidays, it will only come down from January 2024, so if you have dollars, still hold it and cash out in December
Re: Naira Shrinks To N1,135/$ At Parallel Market by Programmer47: 12:10pm On Nov 09, 2023
Angelfrost:
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.
Sometimes ehn, it's best for people to face the consequences of their stupidity.
By the time the real effects of the jamboree Inec and the courts kicks in, a lot of these stupid ronu folks will finally understand how these things work.
If the North mistakenly gets into power again, all these nonsense Tinubu started will become common place.

You don't have certificate? Forge it.
You have criminal records? Pay the courts.
You want to win election? Use thugs , switch off the inec servers, distort the results and illegally declare yourself as President. After that, the opponents can go to court.
Infact , even the ability to vote will be so funny when the true rot kicks in.

Anyone who supports Tinubu is just a two faced individual who will scream murder the minute he is served the same dish which they ignorantly prepare for others
Re: Naira Shrinks To N1,135/$ At Parallel Market by ogbe88(m): 12:13pm On Nov 09, 2023
Abrah20:
You had to insult me?
He is right, why praying for the naira to keep going up.

Or do u want to be shot on sight.
Re: Naira Shrinks To N1,135/$ At Parallel Market by Angelfrost(m): 12:18pm On Nov 09, 2023
Programmer47:
Sometimes ehn, it's best for people to face the consequences of their stupidity.
By the time the real effects of the jamboree Inec and the courts kicks in, a lot of these stupid ronu folks will finally understand how these things work.
If the North mistakenly gets into power again, all these nonsense Tinubu started will become common place.

You don't have certificate? Forge it.
You have criminal records? Pay the courts.
You want to win election? Use thugs , switch off the inec servers, distort the results and illegally declare yourself as President. After that, the opponents can go to court.
Infact , even the ability to vote will be so funny when the true rot kicks in.

Anyone who supports Tinubu is just a two faced individual who will scream murder the minute he is served the same dish which they ignorantly prepare for others
You have said it all... I have nothing more to add.

Nigerians have no idea the storm that is coming.
Re: Naira Shrinks To N1,135/$ At Parallel Market by LordAdam16: 12:34pm On Nov 09, 2023
airsaylongcome:
Lol! I remember one person saying it will take Dollar 7 years to get back to ₦1200+. Mocking the ₦8m guy. It's not even up to 7 days since their fake "NGN recovery" the thing is in its way back to ₦1300
That guy is a clown.

That said, Cardoso should have intervened this week as well.
Maybe he will. The week has not ended.

If you're going to clear backlogs, do so consistently.
Don't make a big show about starting a process, promise to continue that process this week.
Then crickets.

Now, it appears as though they scrounged up $1B for temporary respite.
The only positive is that our pending bill is a smidgen smaller and we got a two-week breather.
The drawback is the unequivocal reinforcement of the CBN's abject lack of credibility.

-Lord
Re: Naira Shrinks To N1,135/$ At Parallel Market by Fearyourcreator: 1:26pm On Nov 09, 2023
yahoodetector:
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 grin grin
Oh, sorry you no normal.... Buhari and Tinubu na same , oponu... you dey see from NL ... pele ti e... you go cry no worries, just dey watch ... Sha no commit suicide
Re: Naira Shrinks To N1,135/$ At Parallel Market by nedekid: 1:42pm On Nov 09, 2023
etcme:
We have not started yet. We will deal with Obi and his Obidient group.

This shrinking and weakness owill favour me and my family.

On his mandate we stand.

On his Balablu I will stand.
Lol
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