Naira Falls To Record Low Of N1,515 /$1 At The Black Market - Business

Naira Falls To Record Low Of N1,515 /$1 At The Black Market - Business - Nairaland

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Naira Falls To Record Low Of N1,515 /$1 At The Black Market by Nemere2020(op): 3:17pm On Feb 01, 2024

Naira has fallen to a record low of N1,515 per dollar following strong demand on the parallel market, also known as the black market.

This represents 1.32% or N20.00 weaker than N1,495 it traded in the morning today according to Nairametrics tracker.

This despite analysts’ optimism that the new FX rules by the apex bank would shore up dollar supply from commercial banks and stabilise naira in the immediate terms.

The Central Bank of Nigeria (CBN) had yesterday released a new circular addressing suspected cases of excessive foreign currency speculation and hoarding from Nigerian banks.

The current depreciation is unparalleled and stands as the lowest point in the historical performance of the Naira, reflecting the severity of the current economic challenges.

https://nairametrics.com/2024/02/01/breaking-naira-falls-to-record-low-of-n1515-1-at-the-black-market/?fbclid=IwAR1avx_f8S6hOp-kNM_nwlCfZsLo1-EeWn9AmBMCsfq-MfFfWJVycjWSU14

2 Likes 1 Share

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by DatNiggaDaz: 3:19pm On Feb 01, 2024*

Lift the standing Robinhöod abi na hoodman up grin

87 Likes 2 Shares

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by Validated: 3:20pm On Feb 01, 2024

Prophesy #2 has been fulfilled. Watch as petrol price shift in coming weeks.

https://www.nairaland.com/7955720/2024-predictions-mark-it-down

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Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by gaby(m): 3:27pm On Feb 01, 2024

I thought I read somewhere that it has halted to #1,340.

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Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by RepoMan007: 3:30pm On Feb 01, 2024

Gathering momentum and grace for the 2k mark. God pls "safe" us.

39 Likes 2 Shares

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by 10mobile: 3:31pm On Feb 01, 2024*

Who did we offend huh

🤔

And, unless Nigerians wake up asap, things may get much worse.

I enjoin everyone to read this👇

A Replica Of The Afghanistan Taliban Takeover Is Taking Place In Nigeria: What Can We Do?

15 Likes 1 Share

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by fuckJones(f): 3:33pm On Feb 01, 2024

The naira has gained about N200/$ within 15 minutes against the Dollar.
As dem dey rush post bad news, make we sef dey rush post good news.

53 Likes 10 Shares

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by Tntsi: 3:54pm On Feb 01, 2024*

The land of Nigeria was soaked in blood during the reign of pmb due to nepotism , tribalism, sectionalism and all sorts . We saw the dire consequences in the nation.

Nigeria desperately needed a sense of healing , justice , equity and sanity so we could begin to santize the land and come out from the consequences of the blood shed.

Instead of that we are thrown into a group of criminals who hijacked the institutions, alter and remove the ancient landmark of the nation thereby desecrating the land.
And you are expecting life in the nation? You need to go wash your head.

If tinubu and shettima like, let them go sleep on papa Adeboye bed, with marathon fasting and night vigil, it will yield to nothing.

The dearth in the land are the consequences of desecrating the land.
Tinubu , his criminal gang of grab it and run with it politicians, the criminals in the judiciary, inec etc are major cause of the dearth in the land

For the nation to have a hope to revive, the altar desecrated must be repaired.
The desecrators of the land must leave.

Individuals here and there with clean hands, will do good, but as a nation, you are deceiving yourself.

Tinubu and his gang are operating with a cursed mandate. Nothing real can come from it. It will be renewed propagandas,empty noises, one step forward and 50 steps backwards.

Until the desecrators of the land are taken away, forget Nigeria.

59 Likes 5 Shares

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by TruthsFM: 4:04pm On Feb 01, 2024

It will soon hit #2k per dollar. Tinubu bad economic policies destroyed Nigeria economy.

55 Likes 1 Share

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by Crystalline(f): 4:09pm On Feb 01, 2024

fuckJones:
The naira has gained about N200/$ within 15 minutes against the Dollar.
As dem dey rush post bad news, make we sef dey rush post good news.

Create a thread for this

6 Likes

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by Throwback: 4:10pm On Feb 01, 2024

Let them keep speculating and buying.

What would piss me off is if the Tinubu regime does not have an end game that will make those buying dollars and stocking it up, shed bitter tears of regret in the near term.

Even as a layman, I know series of actions I can take that would make cash dollars start appearing in refuse dumps in Nigeria as they would have become so useless to those stocking it up outside of the banking system, while those who have them in their domiciliary accounts will be offloading them within the approved banking currency exchange the sooner they get foreign remittances only into such accounts.

25 Likes 3 Shares

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by proeast(m): 4:13pm On Feb 01, 2024

I thought batidiots and those economic bandits claimed dollar was going to crash?

Anyways, they've been saying the same thing since last year yet it's the naira that continue to crash badly.

Foolish people!

36 Likes

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by fuckingAyaya(m): 5:16pm On Feb 01, 2024

Those people screaming it will favour me and my family where are they?

53 Likes 1 Share

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by Ogene001: 6:26pm On Feb 01, 2024

Throwback:
Let them keep speculating and buying.

What would piss me off is if the Tinubu regime does not have an end game that will make those buying dollars and stocking it up, shed bitter tears of regret in the near term.

Even as a layman, I know series of actions I can take that would make cash dollars start appearing in refuse dumps in Nigeria as they would have become so useless to those stocking it up outside of the banking system, while those who have them in their domiciliary accounts will be offloading them within the approved banking currency exchange the sooner they get foreign remittances only into such accounts.

Tinubu stockpile more than any other person. Be thinking that these people care about your well-being

79 Likes 5 Shares

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by Savedday2: 7:01pm On Feb 01, 2024

The truth is that our current crops of leaders doesn't have solution to fix it. All they are currently doing is trial and error.

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Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by OkCornel(m): 7:06pm On Feb 01, 2024

Clears throat. Just reminding the sycophants of the promise made by Jagaban in April 2023.

The short term goal is 300 naira to the USD.

27 Likes 1 Share

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by ask4bk(m): 7:06pm On Feb 01, 2024

For those wondering wetin concern us with another man currency...
Nigeria produces almost nothing. Most things come from outside and outside deals with dollars. The higher it goes, the costlier the things you'll need to basically survive in the country.

On top of it, your naira income remains stagnant either from your work place or work hustle. If you could sustain your family with 70k monthly when babablu entered, today you'll need 150k.

For the greedy folks happy naira is falling coz they earn in Fx... Just know that even if dollar is 100 naira, you'll still buy your iPhone in naija for N140k. Your dollar will still have its value, but the naira falling will destroy the live of millions of Nigerians who hold a volatile currency like naira. If the naira increases, you with your dollar and the poor man will also have easier life.

Its not about having more naira when you change dollar, but about the purchasing power of the naira.

What do I know?
You all will still say "may the naira fall favour me and my family" when it favours no one.

25 Likes 2 Shares

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by merits(m): 7:06pm On Feb 01, 2024

Nemere2020:
https://nairametrics.com/2024/02/01/breaking-naira-falls-to-record-low-of-n1515-1-at-the-black-market/?fbclid=IwAR1avx_f8S6hOp-kNM_nwlCfZsLo1-EeWn9AmBMCsfq-MfFfWJVycjWSU14

Opari.it is finished.

4 Likes

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by Reelmii: 7:06pm On Feb 01, 2024

1 Like

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by jaxxy(m): 7:08pm On Feb 01, 2024

We are playing with fire.

5 Likes

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by ATEAMS: 7:08pm On Feb 01, 2024

We don hear

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by abhosts(m): 7:08pm On Feb 01, 2024

With APC, cruelty is not an anomaly, it is intentional.

10 Likes

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by MichaelSokoto(m): 7:09pm On Feb 01, 2024*

Dollar heading to #5k!

cool

12 Likes

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by maasoap(m): 7:10pm On Feb 01, 2024*

Free falling. By this time next week, it will be 2k. This time next year, may be 10k. Demands for Forex by Nigerian students abroad and crypto guys alone is enough to continously weaken the naira. Those demands are huge.
Forex hoarders are there too. We're not even talking about genuine manufacturers and importers of goods.

5 Likes

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by Elvis2kay: 7:10pm On Feb 01, 2024

Corruption everywhere.. Negros are the problem of Negros,.

7 Likes

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by mobileboy: 7:10pm On Feb 01, 2024

Argh

With all Cardoso abracadabra

5 Likes

Re: Naira Falls To Record Low Of N1,515 /$1 At The Black Market by adamusuleiman2: 7:10pm On Feb 01, 2024

fuckJones:
The naira has gained about N200/$ within 15 minutes against the Dollar.
As dem dey rush post bad news, make we sef dey rush post good news.

Such news don't make FP. Scary news sell.