Naira Appreciates By 13.51% To N895.23/$1 - Business

Naira Appreciates By 13.51% To N895.23/$1 - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Naira Appreciates By 13.51% To N895.23/$1 (20759 Views)

Naira Appreciates By 13.51% To N895.23/$1 by Thonyboy(op): 6:56am On Jan 05, 2024

The Naira on Thursday recorded its first gain in 2024.

Data from FMDQ showed that the Naira appreciated and traded at N895.23 per US dollar on Thursday compared to N1,035.12 per US dollar on Wednesday.

The gain represented currency appreciated 13.51 per cent against the previous day’s figure.

Meanwhile, at the parallel market, the Naira dropped marginally to exchange at N1230/$1, representing a 0.81 per cent decline from the N1,220 per dollar it quoted on Wednesday.

The development comes as forex turnover at the close of the trading was $68.49 million, representing a 20.06 per cent decrease compared to the previous day.

.ng reported that the Nigerian federal government received the $2.25 billion foreign exchange support loan from the African Import-Export Bank barely a week ago.

Experts within the financial sector predicted that a $2.25 billion forex loan from Afrexim would help stabilize the FX market.

https://.ng/2024/01/05/naira-records-first-gain-in-2024-against-us-dollar-at-forex-market/

13 Likes 2 Shares

Re: Naira Appreciates By 13.51% To N895.23/$1 by VawulentMan: 7:30am On Jan 05, 2024

They celebrate every fractional drop in rate like say dollar don reach ₦200

79 Likes 6 Shares

Re: Naira Appreciates By 13.51% To N895.23/$1 by SharingIsLife(m): 7:43am On Jan 05, 2024*

The gain represented currency appreciated 13.51 per cent against the previous day’s figure.

Meanwhile, at the parallel market, the Naira dropped marginally to exchange at N1230/$1, representing a 0.81 per cent decline from the N1,220 per dollar it quoted on Wednesday.

What makes the Naira gain at the main market at the same time that it loses at the parallel market? It's now I'm beginning to understand why FG went after BDCs the other time.

In any case, this is some good news. 13.51% gain in 24 hours is commendable. FG should be encouraged to try to know what caused the gain so that they'd do more of that.

Jlow2:
unfortunately fg dnt even know, try and error.

You remind me of this tweet I just read. So, let me even us this opportunity to share it... https://twitter.com/DNCNetwork1/status/1743198485287981148?t=5AmTxVx6BAFFtu7syOCtnw&s=19

The vid said some touching things about why the masses should help the government to know what they should do.

36 Likes 5 Shares

Re: Naira Appreciates By 13.51% To N895.23/$1 by INTEGRITYA1(m): 8:39am On Jan 05, 2024

Good

4 Likes

Re: Naira Appreciates By 13.51% To N895.23/$1 by FOOTSOLDIER2(f): 8:39am On Jan 05, 2024

Drug lord has no positive impact on the economy.

Chicago first class accountant of drug deals grin

46 Likes 2 Shares

Re: Naira Appreciates By 13.51% To N895.23/$1 by Whalis: 8:39am On Jan 05, 2024

It will soon dip by over 30%. The gains have not always been sustenable. It is like naira only breathes when dollar is on break.

14 Likes

Re: Naira Appreciates By 13.51% To N895.23/$1 by SmartyPants(m): 8:40am On Jan 05, 2024

VawulentMan:
They celebrate every fractional drop in rate like say dollar don reach ₦200

But should "they" be angry about it?? Are you angry about it? sad

21 Likes 4 Shares

Re: Naira Appreciates By 13.51% To N895.23/$1 by Marvieduke(f): 8:40am On Jan 05, 2024

Still naira and dollar are not mate.

2 Likes 1 Share

Re: Naira Appreciates By 13.51% To N895.23/$1 by Oladhips(m): 8:40am On Jan 05, 2024

Re: Naira Appreciates By 13.51% To N895.23/$1 by damosade(m): 8:40am On Jan 05, 2024

Celebrating rubbish. One step forward three step back ward.

14 Likes 1 Share

Re: Naira Appreciates By 13.51% To N895.23/$1 by money121(m): 8:40am On Jan 05, 2024

Re: Naira Appreciates By 13.51% To N895.23/$1 by Itiskdg121(m): 8:40am On Jan 05, 2024

Mtchewww
APC should please return it to 187 Naira.
A yoruba proverb says "If you can't help my situation, at least return me to the way you met me". Ogun bo le gbemi, fimi sile si bo se bami

13 Likes 1 Share

Re: Naira Appreciates By 13.51% To N895.23/$1 by matify83: 8:40am On Jan 05, 2024

Interesting !!

However, it's not easy according to stake holders to source dollars at the official window.

Until such gains are seen in the parallel market where most players source forex, this news is like a storm in a teacup.

6 Likes

Re: Naira Appreciates By 13.51% To N895.23/$1 by yoruboid: 8:41am On Jan 05, 2024

VawulentMan:
They celebrate every fractional drop in rate like say dollar don reach ₦200

If the crash by N100 is reported, how is it a problem for you when the appreciation by N100 is also reported

We know your type

11 Likes 1 Share

Re: Naira Appreciates By 13.51% To N895.23/$1 by jiz: 8:41am On Jan 05, 2024

Fake news from tinubulation economy nairaland team…..Jagaban that failed woefully economically in lagos want to revive Nigeria own…..keep dreaming

6 Likes 1 Share

Re: Naira Appreciates By 13.51% To N895.23/$1 by chibike69: 8:41am On Jan 05, 2024

Non sense

If u like keep ur savings in naira

U go cry tire

1 Like

Re: Naira Appreciates By 13.51% To N895.23/$1 by Femich18(m): 8:41am On Jan 05, 2024

Hmmm

Re: Naira Appreciates By 13.51% To N895.23/$1 by ogaontop(m): 8:41am On Jan 05, 2024

Re: Naira Appreciates By 13.51% To N895.23/$1 by Obuda33(m): 8:41am On Jan 05, 2024

while I appreciate the development i am still convince the government knows what they are doing

Re: Naira Appreciates By 13.51% To N895.23/$1 by Beverlyjean(f): 8:41am On Jan 05, 2024

All because of borrowed 2.5 billion

1 Like

Re: Naira Appreciates By 13.51% To N895.23/$1 by Maxtipulation(m): 8:41am On Jan 05, 2024

Lie lie

Re: Naira Appreciates By 13.51% To N895.23/$1 by RECTEM: 8:41am On Jan 05, 2024

Naira is above 1200 in black market
Agbado economy

2 Likes

Re: Naira Appreciates By 13.51% To N895.23/$1 by biaframaster200: 8:43am On Jan 05, 2024

FOOTSOLDIER2:
Drug lord has no positive impact on the economy.

Chicago first class accountant of drug deals

Peter Obi's father made his money through drug dealing...

3 Likes

Re: Naira Appreciates By 13.51% To N895.23/$1 by salbis(m): 8:43am On Jan 05, 2024

Naija na cruise.
One step forward, two steps backward.

Re: Naira Appreciates By 13.51% To N895.23/$1 by Raylight2(m): 8:43am On Jan 05, 2024

Thonyboy:
https://.ng/2024/01/05/naira-records-first-gain-in-2024-against-us-dollar-at-forex-market/

The #1230 rate is the one that affects the common man.

5 Likes

Re: Naira Appreciates By 13.51% To N895.23/$1 by yahoodetector: 8:43am On Jan 05, 2024

Rubbish

Re: Naira Appreciates By 13.51% To N895.23/$1 by Jlow2: 8:44am On Jan 05, 2024

SharingIsLife:
What makes the Naira gain at the main market at the same time that it loses at the parallel market? It's now I'm beginning to understand why FG went after BDCs the other time.

In any case, this is some good news. 13.51% gain in 24 hours is commendable. FG should be encouraged to try to know what caused the gain so that they'd do more of that.

unfortunately fg dnt even know, try and error.

Re: Naira Appreciates By 13.51% To N895.23/$1 by Mosba: 8:44am On Jan 05, 2024

Ama gbe wa lee

Re: Naira Appreciates By 13.51% To N895.23/$1 by Karrima: 8:48am On Jan 05, 2024

Good one

Re: Naira Appreciates By 13.51% To N895.23/$1 by WrriterNig: 8:49am On Jan 05, 2024

Una dey crase. Which appreciation?

I buy dollar N1260 this morning

3 Likes

Re: Naira Appreciates By 13.51% To N895.23/$1 by kingsways: 8:50am On Jan 05, 2024

Re: Naira Appreciates By 13.51% To N895.23/$1 by WebSurfer(m): 8:52am On Jan 05, 2024

rubbish

1 Like

1 2 3 Reply

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