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Nairaland Forum / Nairaland / General / Business / Naira Depreciates To N1,620/$ At Parallel Market (10683 Views)
Naira Depreciates To N1,305/$ In Parallel Market / Naira Depreciates To ₦1,300/$ In Official Market / Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens (2) (3) (4)
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Re: Naira Depreciates To N1,620/$ At Parallel Market by laivwire(m): 8:21am On Mar 05 |
It's time for Cardoso to pump more borrowed USD into the economy in order to keep up with the charade. |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Elsueno: 8:26am On Mar 05 |
Nah, let's blame binance & aboki fx, that would surely save the naira ..I assure u! |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Elsueno: 8:29am On Mar 05 |
press9jatv: Abeg bros, dats too harsh nah...we all dey dis 9ja woh...me no want my neighbours & community to surfer. Even if it would get to 2k, it shouldn't be dis fast now |
Re: Naira Depreciates To N1,620/$ At Parallel Market by a4cube: 8:32am On Mar 05 |
adamusuleiman1:Who is dancing leg work, the cable or the poster? When did reporting a new means dancing leg work? Why did we have too much morrrooonnns from sect? |
Re: Naira Depreciates To N1,620/$ At Parallel Market by a4cube: 8:36am On Mar 05 |
Okoroawusa:Bc it affects their daily business activities including you if at all your are gainfully employed. |
Re: Naira Depreciates To N1,620/$ At Parallel Market by franudi: 8:37am On Mar 05 |
This government is clueless. 1 Like |
Re: Naira Depreciates To N1,620/$ At Parallel Market by CyberWolf: 8:38am On Mar 05 |
Okoroawusa:Animals like you don’t want the masses to know what it happening, keep on licking politicians nyash there. You better tell your idiotic idol to do what it right or else, they won’t know what hit them. Bunch of jokers. |
Re: Naira Depreciates To N1,620/$ At Parallel Market by millionboi2: 8:39am On Mar 05 |
Deogratiasfx:Mumu |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Deogratiasfx: 8:42am On Mar 05 |
millionboi2: Hahaha....that is the only thing this morons understand na |
Re: Naira Depreciates To N1,620/$ At Parallel Market by millionboi2: 8:42am On Mar 05 |
Tallesty1:only a fool/ignorant will believe binnance is responsible for naira fall. 2 Likes |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Procashtips(m): 8:51am On Mar 05 |
adamusuleiman1: Are you serious? What was it in May 2023? What was it in November 2023? Do some of you truly understand what you're responding to? 2 Likes |
Re: Naira Depreciates To N1,620/$ At Parallel Market by MyOwnTake: 9:13am On Mar 05 |
What is the essence of this news really? people who always rush to announce FX rates are part of our problem. Anyone who has use for FX will always find out |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Lithiumite: 9:21am On Mar 05 |
Flets: Will you provide the dollars for tinubu to sell at 850 or u want hil to pull the dollars out his arse.....learn economics and stop being confident in ignorance |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Lithiumite: 9:28am On Mar 05 |
BigIyanga: Dollar rates are based on demand and supply not govt fiat...if govt fixes a price,they then need to defend it with more naira thereby using scarce resources that should be used for providing critical infrastructure to subsidise dollars for the rich.....poor man noh dey use dollar o. Where do you want tinubu to get the dollar from to satisfy the humongous appetite of Nigerians....I have stopped a lot of things that I can do without because of high cost so also people should leave dollars alone and seek alternatives if they can.....imagine someone looking for dollars despite the high cost to import meaningless things like bone straight hair or furniture or even tokunbo cars. 2 Likes |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Angelfrost(m): 9:31am On Mar 05 |
U1: We are saying the same thing... Printing lots of Naira and circulating doesn't increase the demand for it, it actually achieves the opposite. The demand will increase when people are willing to exchange their own foreign currencies for it (i.e purchase the Naira for trade purposes). Such was the case post-Independence, when we exported so many things ranging from crude oil, cocoa down to groundnuts. We have since declined into consumerism where we now import virtually everything, which has led to the Naira running after foreign currencies instead of the other way around. As you highlighted, we have to sort out the mess affecting or mitigating local production and consumption. Once we stop importing Petroleum products, human hair and cosmetics, food items, drugs, etc... The Naira will fare a lot better. It's a perilously long walk to economic freedom! Honestly, it may never happen! |
Re: Naira Depreciates To N1,620/$ At Parallel Market by ozo13(m): 9:32am On Mar 05 |
press9jatv:if it's floating of the naira that actually caused it don't you think the policy would have long been jettison if it's really the problem.I have listen to Obi , Atiku and others speak about it noting of such was said.i believe if floating was really the issue noting would have stopped them from letting it go |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Angelfrost(m): 9:36am On Mar 05 |
ozo13: We?!! You mean you and those you elected, right?!! Cos at no point was I involved directly or indirectly in the maladministration of this 4th world nation. |
Re: Naira Depreciates To N1,620/$ At Parallel Market by ozo13(m): 9:40am On Mar 05 |
Angelfrost:I said I need explanation on how Tinubu policies is causing the problem.what am reading here is just emotional talk and u didn't address my question as someone who know less about policies and economy.Even if I didn't read a social science course , I know what we are facing now is a long time maladministration some sort of. |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Celplas1010: 9:41am On Mar 05 |
Flets:Best comment so far |
Re: Naira Depreciates To N1,620/$ At Parallel Market by jerryklopp: 9:42am On Mar 05 |
To be honest this economy is preparing poor Nigerians for looting government properties and rich individual. No hope in renewed hope. Tinubu really doesn't know anything. |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Dminister(m): 9:52am On Mar 05 |
Floating the naira and removing subsidy is the major problem. Our economy is petroleum and gas dependant, apart from petroleum and gas there is no other major source of revenue. Removing subsidy increased the inflation from the previous administration. Even a layman knows we have no stable electricity as alternative for petroleum and gas. if there was stable electricity the subsidy removal wouldn’t have much effect on the naira. In this country, our daily business activities are tied on pretroleum and gas. Let’s take a shift a way from petroleum and gas, and let there be stable electricity the naira will start appreciating. Let’s Imagine there is stable electricity, you do not need to use gas and petroleum to run your everyday business. Before removing subsidy first thing that should have been in place is stable electricity. |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Dalohad: 10:14am On Mar 05 |
Re: Naira Depreciates To N1,620/$ At Parallel Market by benny339(m): 10:42am On Mar 05 |
Please add me to group for update on dollar +2347037996021 |
Re: Naira Depreciates To N1,620/$ At Parallel Market by DRKRIZ: 10:55am On Mar 05 |
Deogratiasfx: TO WIPE YOU WITH ORAIMO CABLE DEY HUNGRY ME. |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Deogratiasfx: 11:10am On Mar 05 |
DRKRIZ: You go blame me? That is the only solution Tinubu has na. Apart from that what else does he know to solve the problem? |
Re: Naira Depreciates To N1,620/$ At Parallel Market by fxexperts: 11:29am On Mar 05 |
adamusuleiman1:keep deceiving yourself in a bid to please your agbado god. |
Re: Naira Depreciates To N1,620/$ At Parallel Market by fxexperts: 11:38am On Mar 05 |
ozo13:This guy is an Ode. So if the administration you just mention actually saved every single penny they sold crude oil for and didn't spend any single penny from the so called $120 they sold crude then. so are you saying in your tiny imagination that the last two useless administration will have enough left to still spend at this time to pay your tiny N30K monthly abi. I do not really know how you lots even think. Truely i give up on you people. you all are something else. You are still blaming ten years ago for the catastrophe your kind are making people go through now. i spit on you, i swear. How much is crude oil price today. what is the difference from the so-called $120 you are quoiting. use your tongue to count your teeth ode. |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Mcslize: 11:46am On Mar 05 |
Now that they've banned Binance, who else are they looking towards blaming? Probably they will now start blaming market women, locking up shops. Stupid people. |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Mcslize: 11:49am On Mar 05 |
slivertongue: Don't mind them. Whereas the werey broke ass hole nigga called ogbonti voted for APC and still wanting people to stay behind and build the country they have all destroyed with corruptions. You can imagine! |
Re: Naira Depreciates To N1,620/$ At Parallel Market by solomon36670: 11:50am On Mar 05 |
Ok naa. Ok naa. ... |
Re: Naira Depreciates To N1,620/$ At Parallel Market by Mcslize: 11:54am On Mar 05 |
AllTheWayUp: They've ran out of what to say. ogbonti will never be happy with this news trust me. Someone that has never stepped feet in an airport is bragging he has 700,000 USD. Audio money everywhere. |
Re: Naira Depreciates To N1,620/$ At Parallel Market by press9jatv: 12:18pm On Mar 05 |
ozo13:the policy on the floating the naira by the Cbn have been questioned severally, this is not the first time Nigerians and the economists had dragged Tinubu government on that. |
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