₦airaland Forum

The naira has appreciated by N75.4 against the US dollar in a single day to bounce back in the foreign exchange market.

FMDQ data showed that the naira appreciated to N1,072.74 per dollar on Wednesday, compared to N1,148.14 recorded on Tuesday.

This represents a 6.56 per cent appreciation on a day-to-day basis.

Similarly, the parallel market appreciated to N1,040 per dollar in the parallel market on Wednesday from N1,100 per dollar on Tuesday.

The naira recorded an N60 gain against the dollar on the black market.

The development comes barely 24 hours after the naira recorded its first depreciation since March 2024.

ojun50:
But why food stuff prices no dey come down

Ezeama0:
The way dollar will jump 🦘🦘🦘 back to 2000 like a kangaroo will be brutal this time because what they have been doing is artificial depreciation of the dollar. Once the reserves they used in servicing the forex finishes, it will go back to high. It's not the first time, Buhari did the same thing. That's the reason Nigerian foreign reserves went down recently. If the naira is naturally appreciating against the dollar, it will instantly reflect on the prices of Products in the country


Have you asked yourself why dollar is going down yet prices of goods in the market are going up ? Where does such thing happen ?


The only thing that can make Naira to gain naturally is high exportation/productivity, unfortunately Nigeria as a country depends and relies so much on importation..

FG should stop deceiving the guilible masses ..

Nigerians deserve to know the truth

Nigerians deserve better..

Enough of these lies and deceits by the FG

mobisonkk2:
You are a daft imp. Who is responsible for bringing down prices of good and services? The government of greedy people as yourself? Well, last month I bought I ton of TMT reinforcement bars @ 1.4m per ton and today I bought for 900k per ton and it's going down.

You can keep crying.

mobisonkk2:
You are a daft imp. Who is responsible for bringing down prices of good and services? The government of greedy people as yourself? Well, last month I bought I ton of TMT reinforcement bars @ 1.4m per ton and today I bought for 900k per ton and it's going down.

You can keep crying.

ojun50:
But why food stuff prices no dey come down

McCoy662:
Nice! Nigeria is way richer than Ghana and other African countries; an exchange rate of less than #50 to a $ is possible.

mobisonkk2:
You are a daft imp. Who is responsible for bringing down prices of good and services? The government of greedy people as yourself? Well, last month I bought I ton of TMT reinforcement bars @ 1.4m per ton and today I bought for 900k per ton and it's going down.

You can keep crying.

MrProlific95:
Propaganda, Dangote refinery shud do amd start selling PMS