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Naira Depreciates To ₦‎1,300/$ In Official Market - Business (7) - Nairaland

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Naira Depreciates To N1,305/$ In Parallel Market / Naira Eyes N1,300/$ At Parallel Market As Speculators Offload FX / Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens (2) (3) (4)

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Re: Naira Depreciates To ₦‎1,300/$ In Official Market by KaptainAfrika: 9:23am On Apr 24
I TOLD YOU GUYS TO HOLD YOUR DOLLARS !

3 Likes 1 Share

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by CodeTemplar: 9:26am On Apr 24
Something is not adding up here.

CBN sells to BDCs at N1021 and asked them to resell with 1.5% spread. How is that dollar now going for N1300 again?
I know all dollar are not from BDCs but that's is still strange.
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by femi4: 9:31am On Apr 24
StOla:
You are so happy with this news.

You are now motivated to rush out this news like when it was heading towards N2000 in February, but lacked motivation to rush out the news when it was appreciating downwards to N1000?
Hypocrites
News is News, good or bad

That's not even the issue, the rise or fall didn't affect the market price
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by femi4: 9:33am On Apr 24
StOla:


There is no point trying to correct your ignorance so that I do not help you to be better.

I repeat again, appreciating downwards to N1000.

The context is clear for the educated and ambiguous to the academically challenged.
Educated illiterate. Take your L and keep quiet.
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by darediamond(m): 9:34am On Apr 24
StOla:
You are so happy with this news.

You are now motivated to rush out this news like when it was heading towards N2000 in February, but lacked motivation to rush out the news when it was appreciating downwards to N1000?
Do you think everybody is a fool on this Land Called Nigeria?

Tinubu is taking uninformed Nigeria for a Fool and you want we Who Knows His fraudulent tricks to Hail Him?

Now that Binance as down Nigeria Naira Spot Trading and even P2P, why is Naira still falling as we know and have been saying it would even before the The Kidnapping Of The Invited Binance Reps?

Naira can go all the way to 10,000 naira To $1 if the FOOLISH STUPID POLITICAL CLASS CHOSES TO MAKE IT BE.

As long as to The I and E Windows is there and there is Internet Connection, Traditional and Online Banking System in there varying dimensions, we who are at least 4 steps ahead of any types of Regime in Nigeria will keep making money Legally withouth doing any MORTAL AND BRICK WORK.

To Hell with C.B.N, I.M.F, Tinubu Controlled F.G.N and yes WORLD BANK policies being applied over innocent Nigerians.

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by ELKHALIFAISIS(m): 9:36am On Apr 24
May it continue this way till month end amen
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by ELKHALIFAISIS(m): 9:37am On Apr 24
To my advantage 😁😁😜
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by darediamond(m): 9:42am On Apr 24
CodeTemplar:
Something is not adding up here.

CBN sells to BDCs at N1021 and asked them to resell with 1.5% spread. How is that dollar now going for N1300 again?
I know all dollar are not from BDCs but that's is still strange.
We are in Global Petrodollar System. Thus for naira to gain value, it must be defended with Dollars. Nigeria have the resources to do that abundantly but because your Polithiefcians prefer suppression of the masses, they refuse to keep doing that. They instead opt for Borrowing money we do not need from I.M.F and World Bank.
Furthermore, they refuse to make state owned Refineries work which means they prefer what British Royal family via SHELL want for Nigeria to our detriment in view of Value of Naira against Dollar.

Shell, Chevron, Texaco etc. all prefer Nigeria to always import processed Crude Oil. This is why they refuse to Help Nigeria repair our refineries when Invited by President OBJduring His Glorious Regime. And the crop of Polithiefcians we have now prefers that as they choose to Weaponize POOVERTY than paving way for High Standard of living there fellow Country Men and Women-Old and Young.

Nigeria is extremely wealthy to the extent that naira can be made to be at least #1 to $2!!!

However there is a way out for every Common Nigeria via Banks in and Outside Nigeria. Those Banks in Ghana, Benin Republic, Cameroon, Uganda, Tanzania, Egypt Rwanda, Kenya South Africa, Kuwait, Oman, England, China, Russia etc. can all be interconnectedly used to Harvest the thrown away Value of your own Naira. Also, there is now Alternate Dollar or Crypto Dollar that you can use your Naira To Buy on Crypto Centralized Exchanges like Bybit, OKX, etc.

See we who are at least 4 steps ahead of F.G.N knows just everything about there NGN Dollar tricks and how to counteract it. If you would like to join us, reach me on WhatsApp 070 60 578569
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by SmartyPants(m): 9:45am On Apr 24
RuggedBiafran:
Bloody illiterate how can a currency be 'appreciating' downwards? Who employs you Agbadorians sef? Do they even check your literacy levels? Is this how useless education is in the SW?

To imagine, you and others disgracing yourselves constantly with grammatical blunders and you believe you are exposed?

Guy, go and refresh your wasted years in school, your education was a waste.. haba!

The correct terminology is 'depreciating downwards' .. shameless things.. cool






Are you sure you understand what he was saying? Which depreciation??
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Yomit71(m): 9:45am On Apr 24
rinzaugustine:
We are going to teach Peter Obi a lesson 😂 Tinubu go favor me 😂 senseless animals were behaving as if it were only obidients that wanted a better and working country .Agbado go suffer curse the day they were born when emilokan is done showing them a town hall different from bulaba ( buhari)
You still pained, losing is not easy fr tongue
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Brandosky: 9:49am On Apr 24
AqualinaXYZ:
Oga naira don enter N1450




Where una dey get una news from sef
Ha, this is not true. Is less than #1300 . Oga you must be an alarmist
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by kushme: 9:51am On Apr 24
StOla:


You are academically challenged.

Can currency exchange to a dollar appreciate from 1800 to 1000, as an upward movement?

Is that not a downward appreciation?

Olodo!


You know, I used to think like, how can a currency exchange be appreciating downward and depreciating upward. Both sound oxymoron. I later got to understand that, a currency pair has the Base currency and quote or counter currency , for example like USD/NGN, the USD is the base while the NGN the quote currency.

So when making reference to appreciating and depreciating of currencies,the Base currency is the one mostly quoted. e.g The USD/NGN appreciated, meaning investors bought USD and Sold NGN, an upward trend on the chart or The USD/NGN depreciated, so to say that, investors sold USD and bought NGN, a downward trend on the chart, making the quote currency stronger(technically appreciate, which makes it correct to say appreciate downward grin ).

You see, it would be easier to just Keep It So Simple(KISS), if we want large audience to read our notes and understand, especially if the general public is the target. Something like the Dollar is down against the Nigerian Naira or some simple ways to put it...
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Skyehigher1: 9:52am On Apr 24
Hahaha happened this days is this official market is different from the CBN why can CBN alone can't control naira to dollar I think it's illegal for any monetary policy aside from government policies... Am tired of this shit jare I wish CBN should ban all parallel markets except commercial banks
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Donaldoni: 9:54am On Apr 24
ThunderFireAgba:

I am very stupid for reporting you for no reason. Please forgive me.

It's alright.
Don't do that again, you hear.
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Available9: 9:54am On Apr 24
Caleycash:
You're right but even in tautology, you don't say depreciate upwards or appreciate downwards, that's incoherent tautology!... what's your aim in correcting him that replied instead of the moŕòn that made the initial blunder??

No issues man...just felt like responding to him

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Zeebuy: 9:55am On Apr 24
Dennisochampa:


U deh buy property cheap , u deh complain grin grin

This thing wen your village people do u bad o grin grin..... Since your buying cheap properties as a result of the failing economy, why your small brain come dey touch na grin grin... Abi madness na normal thing for una family??


If it were a situation where your region is a different country from mine, I wouldn't be bothered but as long as we're stuck in this unholy union we'll keep calling out the useless policies of the government, since you and your kind have decided to see black and call it white
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by cucumbar: 9:55am On Apr 24
theredaddy:



You right english so well yet you sounded outrightly like an illiterate

Despite all the explanations written on line, appreciation of naira can only reflect overtime una still det spew rubbish
I think most you just hide behind the market prices to vomit una wicked thoughts, you people never wish the country get better.

those wishing the economic to fall, whatever there gain is naa on top terminal sickness dem go dey spend am, there loved ones no go ever dey alright
😁 if you are still stupid enough not to have realized that the economy don’t based on your wishes , then your case is pathetic and beyond redemption.

You agbadorians are hopelessly dull.

2 Likes 1 Share

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by DIVINEEVIDENCE: 10:03am On Apr 24
StOla:


You are academically challenged.

Can currency exchange to a dollar appreciate from 1800 to 1000, as an upward movement?

Is that not a downward appreciation?

Olodo!


Go and study Registers in English Language and stop disgracing yourself online.

"Depreciation" is a topic in Economics.
Go read it up.

Stop spending your whole life online, defending failed politicians from one term to another.

Add value to your life.

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by emmanuelbrown26: 10:05am On Apr 24
Dennisochampa:

.. Tribal or no tribal... Obi will "NEVER" rule 9ja
Yes ohhh

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by Dminister(m): 10:06am On Apr 24
Salah don end na let’s see if dollar will not enter 2000😂
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by emmanuelbrown26: 10:09am On Apr 24
theredaddy:



Stop all the under bridge analog jare, go and check the total money CBN as given to BDC operators since it began the % is so insignificant, go n verify

What depleted the Foreign reserve was the settlement of backlogs cardoso embarked on which is best recommended, if you paid debt its only nature your balance go lean but it reinburses your image to creditors

OBi is in no class to give economic advise, the idiot himself how is he contributing to local production, because OBi did not win a whole tribe want military to take over or Nigeria should fail at all cost ... so they can shout "we warn you"

Never seen such madness before, haba !

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by HIGHESTPOPORI(m): 10:11am On Apr 24
callthefred:


Do you really think Peter Obi would have done better under a year considering the conditions met on ground? Because if government had refused to float the naira our reserves would have been badly depleted by now and we all know that speculators and bad eggs amongst us are actually responsible for many of these round tripping. You can blame Tinubu for anything else but those decisions were supported by all candidates including removal of subsidies so what exactly do you think Obi or anyone would have actually done differently to save the naira within a year knowing we import our fuel and essentials. Y'all just always bitter your man lost and for that reasons praying hard that Nigeria collapse.


I never voted or supported Tinubu but anyone with a functional brain knows that what he met on ground and attitude of Nigerians was terrible. Dollar had been on the rise for weeks and prices refused to go down and yeah government must be blamed for that too
Did Tinubu not support buhari?

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Re: Naira Depreciates To ₦‎1,300/$ In Official Market by emmanuelbrown26: 10:12am On Apr 24
femmy2010:
bet against the Naira at your peril.


N950 - N1,000 to a dollar would be attained in weeks.
Olodo without forex sense, do u know how forex works. Young Boys of 17years are cashing out on forex u are arguing nonsense
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by emmanuelbrown26: 10:13am On Apr 24
theredaddy:




No one as asked anyone not to criticize or respond to the govt inefficiency, but someone wishing to our faces that Nigeria should crumble becos he earn in dollar .... he deserves all curses and beating self

All these nonsense we try here, in so called developed countries you can boldly come out nd wish your country bad under any guise and justify it, naa jungle justice or arrest But here one idiot is feeling fly cos he hoards dollar .. big shame

If you wana criticize, we need it, but those wishing the economic to fall so they can cash out to oppress, naa terminal sickness dem go use the money for
Lolssss as. See cry cry baby. Cry me more bcs ur tears are welcomed
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by emmanuelbrown26: 10:16am On Apr 24
Dennisochampa:


His followers should leave tinubu alone and focus on nation building...

No nation ever prospers on the back of citizens who are constantly criticizing a sitting president but are not doing anything to salvage the situation of the country
Shut up abeg, when una dey insult GEJ with name callings, what goes around comes around. After tinubu is d president of Nigeria not oduduwa president

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by theredaddy: 10:19am On Apr 24
cucumbar:
😁 if you are still stupid enough not to have realized that the economy don’t based on your wishes , then your case is pathetic and beyond redemption.

You agbadorians are hopelessly dull.


Tells that nonsense talk to non livings thing, people wishing the country bad , have there mouth where there money is

No sensible human being will pray dollar hit 5000 when he/she has nothing to gain from it.

People wishing the dollar rise do not just stop at wishes, they made moves bought nd hoard dollar which has a repercurssion on the economic ... it takes sense to know
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by UnknownQueen(f): 10:21am On Apr 24
StOla:
You are so happy with this news.

You are now motivated to rush out this news like when it was heading towards N2000 in February, but lacked motivation to rush out the news when it was appreciating downwards to N1000?

And so what?
If you were holding the dollar, you'll be happy with the news, so therefore let who wants to be happy be happy, is it your happiness?.

1 Like

Re: Naira Depreciates To ₦‎1,300/$ In Official Market by blueAgent(m): 10:24am On Apr 24
RuggedBiafran:
Bloody illiterate how can a currency be 'appreciating' downwards? Who employs you Agbadorians sef? Do they even check your literacy levels? Is this how useless education is in the SW?

To imagine, you and others disgracing yourselves constantly with grammatical blunders and you believe you are exposed?

Guy, go and refresh your wasted years in school, your education was a waste.. haba!

The correct terminology is 'depreciating downwards' .. shameless things.. cool






grin grin grin

I don laugh tire.
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by blueAgent(m): 10:26am On Apr 24
RuggedBiafran:
You can't appreciate downwards
You appreciate upwards..


Chai .

Legendhero
Helinus
Raskimonojendor
Floki
Chopnaira
Slytiger

See how your fellow Agbado reasons...

So shameless...




I wonder waiting depreciating mean for Agbado dictionary?

Block heads grin grin grin
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by blueAgent(m): 10:28am On Apr 24
StOla:


You are academically challenged.

Can currency exchange to a dollar appreciate from 1800 to 1000, as an upward movement?

Is that not a downward appreciation?

Olodo!


Guy no they disgrace Agbadorians and your press- resident.
The current grammar is depreciate.

No wonder you guys support APC.

No brains grin grin grin
Re: Naira Depreciates To ₦‎1,300/$ In Official Market by blueAgent(m): 10:33am On Apr 24
ivandragon:
Hmm...

Why are some persons upset when the failings of government is called out especially when the people in government today where the first to criticise the previous people in government.

When dollar was exchanging at 216, BAT and Co harrased and insulted GEJ, organised protests, shut down the country and insulted. Nobody lashed out at them then except for those in government.

So why are some persons on social media suddenly hostile towards criticising the government that has taken it to N1,300? Is this a case of psychological disorder or just a case of being a nuisance on social media?

How can someone take something at N216, which he condemned, to almost N1900 and be behaving as if all is well. When sane Nigerians complained, he brings it down to 1200 and is expecting accolades and some clowns are saying it is an achievement. You destroyed a fine duplex and built a rickety shack and say you have done well. Isn't that madness?

Besides, the history of apc in power has shown they cannot be relied on. That is how the clowns supporting bat today, hailed buhari even when it was glaring that the country was nosediving. Today, that just a fraction of the recklessness of Buhari's government has been exposed, they are introducing tribal sentiments.

If the clowns had being reasonable enough to know that Buhari's government was bad, maybe we could have joined forces to keep them on thier toes and save nigeria from nosediving. Today, sane Nigerians continue to ask for an acceptable level of impactful management, yet, the same touts that supported buhari to brutally damage the common man are again at thier antics of supporting reckless and insincere management of the Economy.

What the economy needs right now is sincerity of purpose. There is nothing wrong if government openly admits it is defending the naira and the extent to which it would do so. This would allow for stability and openess.

Then go after the cabals that create problems. Don't shift the burden to Nigerians.

And to those always praising without thinking, realise that any so called improvement is a farce until the government is able to get things to pre-2015 levels.

In essence, the exchange rate needs to come down to N361 to $1 which would be the equivalent rate they criticised of what it was in 2014 at $1 to N216.

Then we can say they have fixed thier own mess. Anything below that can now earn them fully deserved praise.


Well Said.
Abeg ask this Idiots

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