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Nairaland Forum / Nairaland / General / Business / Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market (25996 Views)
Dollar Hits All-time Low, Crosses N1,500 At Official Market / Investor & Exporter Window Crashes to All Time Low At N788.42/$1 / Naira Crashes To Record Low At Official Market (2) (3) (4)
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Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by ogododo: 5:10pm On Dec 30, 2023 |
Naira depreciated to the worst low in recent times exchanging at N1,043.09 to the dollar at the official foreign exchange market on Thursday. This is against N872.59 /$ recorded on Wednesday at the Nigerian Autonomous Foreign Exchange Market (NAFEM). According to dealers, the rate was stronger than N885.88/$ quoted on Friday before the Christmas holidays. Data from the FMDQ showed that dollar supply increased by 38.81 percent to $127.93 million on Wednesday from $92.16 million recorded on Friday. Southwest Govs plan joint committee for Akeredolu’s burial Ondo: Tinubu intervenes as jostling for Aiyedatiwa’s deputy hots up The dollar was supplied by willing buyers and willing sellers who participated in the FX auction at NAFEM. They quoted the dollar at N1,235.65 on the spot trading, stronger than $1,248 quoted on Friday. For the lower spot rate, the dollar traded for N740, weaker than N700 on Friday. Data from the FMDQ showed that dollar supply increased by 38.81 percent to $127.93 million on Wednesday from $92.16 million recorded on Friday. Naira has been rated among the world’s worst performing currencies in 2023. This is coming on the heels of Bloomberg’s latest report that naira is poised for its worst year since the return to democracy in 1999, with analysts predicting further depreciation in 2024. https://dailytrust.com/naira-crashes-to-all-time-low-hits-n1043-09-1-at-official-market/ 5 Likes 2 Shares |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by Ikaeniyan0: 5:11pm On Dec 30, 2023 |
It will strengthen against the dollar next week 20 Likes 6 Shares |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by jmoore(m): 5:14pm On Dec 30, 2023 |
Ikaeniyan0:You are a true patriot. 1 dollar will be sold at 200 naira next week. 321 Likes 20 Shares |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by Melagros(m): 5:20pm On Dec 30, 2023 |
Well, we're all in for it including the cassava farmers 49 Likes 4 Shares |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by kettykin: 5:21pm On Dec 30, 2023 |
This makes Bloomberg forecast more scary. I am yet to hear anything about dangote refinery and the much trumped up turn around of port Harcourt refinery. I am now fully convinced God wants to disgrace a demagogue in power for his boats, blasphemous tendencies and his obstruction of the will of God over Nigeria. Eastern Nigeria, time to create and economic region independent of the comedy happening in Niger same way white south Africa is running am independent African economy in South Africa 128 Likes 10 Shares |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by tensazangetsu20(m): 5:22pm On Dec 30, 2023 |
kettykin: Who told you that peter obi is the Will of God for Nigeria. If elections are held after two years tinubu will win without riggings. 33 Likes 7 Shares |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by omowolewa: 5:26pm On Dec 30, 2023 |
kettykin: Dangote is about to start cooking the first batch of crude but that's not what is giving the Naira High blood pressures It's our tastes for foreign goods and services. writeprof: I understand you, Leaders came from Followers. When leaders were to buy cars, they left Innoson and went for foreign brands. When the former President was sick, he left best brains here and went to London When they are to attend foreign events they went there in large numbers. All these equally count on Naira. Do you think the Japa movement is not affecting the Naira? Do you think the paid software does not have effect on Naira. Do you think unregulated price of National commodities sold Int'l is not affecting Naira hustla: The strength of any currency is in the balance of Trade/Payments. Funny enough gains from trade were taken through corruption, yes you're correct. Just my 2D 35 Likes 5 Shares |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by kettykin: 5:26pm On Dec 30, 2023 |
tensazangetsu20: The psalm 127 verse 1 summarizes everything happening in Nigeria since 2015. Someone switched off the power source and is using something else to run the business of Nigeria. 28 Likes 1 Share |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by kettykin: 5:27pm On Dec 30, 2023 |
omowolewa: Do you need another prophet to tell you that all is not well with the dangote refinery or should we keep quiet and keep praying. There are refineries running in imo, edo etc without this level of drama, let's keep praying everything works out in January 2024 67 Likes 7 Shares |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by Ikaeniyan0: 5:53pm On Dec 30, 2023 |
jmoore:I agree 2 Likes |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by Bobloco: 6:04pm On Dec 30, 2023 |
Ikaeniyan0: Really |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by ogododo: 6:26pm On Dec 30, 2023 |
Make una wake me when it don become N1 to $1. 13 Likes |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by Abufo: 6:38pm On Dec 30, 2023 |
kettykin: The Tinubu governement is fast running out of forex options............The 3 billion dollars they borrowed from Afrexim bank will not last past January! They have virtually no control over remitted forex.............I foresee the government seizing control of domiciliary accounts of depositors, that is the only source of forex still available to the ruling and thieving class........they are bound to do so to prevent a precipitous collapse of the naira! Lebanon and venezuela did the same thing too.........ee don red for the zoo! 80 Likes 5 Shares |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by KwuoteYourFada: 7:00pm On Dec 30, 2023 |
2 Likes |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by simp4rebel: 8:36pm On Dec 30, 2023 |
If things keep going at this rate, soon enough, we would be able to buy a land in Nigeria with $1. I really do hope it doesn't get to that point. That aside, If you are looking for a professional website designer or you know someone that is in need, i'm your guy — we will build you any kind of website for your business at a very budget-friendly rate. check my profile for how to get in touch or to see portfolio or send me an email to get a website quote. 3 Likes 1 Share |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by Judolisco(m): 8:36pm On Dec 30, 2023 |
We pray for better days... Some people are happy with dis news.... How bad news go dey give people joy? 13 Likes 2 Shares
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Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by zombieHUNTER: 8:36pm On Dec 30, 2023 |
Tinubu's destiny is to bury the country in poverty and hardship while being cheered on by Yoruba Muslims... Brace yourself Nigerians.. " Na statistics una go chop" 58 Likes 1 Share |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by adesegun121(m): 8:37pm On Dec 30, 2023 |
Ok |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by Chijeep(m): 8:37pm On Dec 30, 2023 |
One of APC's empty promises. 👉Are you OK with #157 for $1? 45 Likes 2 Shares |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by sonofElElyon: 8:39pm On Dec 30, 2023 |
Ikaeniyan0:Reasons for your optimism? 5 Likes |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by Angelfrost(m): 8:39pm On Dec 30, 2023 |
Whatever...! The Naira no get anywhere else to go but down... Nothing is strengthening it. No large scale exports... No steeply reduced imports... No meaningful demand for the Naira. Most wealthy Nigerian citizens have even stopped saving in Naira. Honestly, no smart Nigerian with access to foreign currency saves in Naira. 28 Likes |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by freemanq(m): 8:39pm On Dec 30, 2023 |
Story |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by lamdbull: 8:39pm On Dec 30, 2023 |
Dbull on this one!!! Please hold me and my guys responsible, the amount of dollar we spent this December is enough to crash naira 10 Likes |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by Johncuppa(m): 8:39pm On Dec 30, 2023 |
This is captive of the might. 1 Like |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by Ikaeniyan0: 8:39pm On Dec 30, 2023 |
Bobloco:Yes |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by zombieHUNTER: 8:40pm On Dec 30, 2023 |
Ikaeniyan0: This guy is a Yoruba Muslim They are cheering on Tinubu as he loots the country dry .. selling false hope to fools on social media.. Renewed shege pro max on the beat 59 Likes 4 Shares |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by Mrchippychappy(m): 8:40pm On Dec 30, 2023 |
It's a tactical move for the Naira to trick the dollar into thinking we are crashing but watch how we would maneuver the market in the coming days. I have it on good authority from the Tinubu camp. A great tactical play is on the horizon. 11 Likes 2 Shares |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by specialmati(m): 8:40pm On Dec 30, 2023 |
the thief said grab it and run.his now running it .it's left for you guys to chase him 31 Likes 2 Shares |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by Ikaeniyan0: 8:40pm On Dec 30, 2023 |
sonofElElyon:Afrexim bank $3 billion loan will be gotten next week 3 Likes |
Re: Naira Crashes To All-time Low, Hits N1043.09/$1 At Official Market by Treadway: 8:40pm On Dec 30, 2023 |
Abufo:that one certain...which is why I am holding and will keep holding my physical dollar stash. 4 Likes |
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