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Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets (25390 Views)

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Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by ogododo: 1:14pm On May 11
The local currency depreciated further at the official market, on Friday, closing at N1,466.31 to a dollar at the official market, according to checks by Daily Trust.

The dollar to naira exchange rate increased by N40 between Thursday and Friday having closed to N1,426 to a dollar, according to the National Autonomous Foreign Exchange Market (NAFEM), the official exchange market.

Daily Trust reports that the naira gain has been reversed in recent times after the currency firmed up against the dollar, exchanging below N1000 with businesses and the government heaving a sigh of relief.

This was after the Central Bank of Nigeria (CBN) introduced a string of reforms and interventions tailored towards stabilising the exchange rate market.

The apex bank also supplied more dollars to the Bureau De Change (BDC) operators in a bid to boost liquidity in the market.

While the dollar exchanged at N1,466.31 at the official market yesterday, it further depreciated at the parallel market, exchanging for N1,510.

It earlier exchanged for N1,450 on Friday morning but closed the day with N1,510 at the street market popularly referred to as the black market.

https://dailytrust.com/naira-declines-to-n1510-n1466-31-at-parallel-official-markets/

1 Like

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Righthussle: 1:14pm On May 11
Na Kucoin cause am. I saw them with all their cryptocurrencies yesterday with long ropes dragging Naira down. I come ask them say why na only naira them dey drag down. Say make them try drag Dollars, Euro, Great Britain Pounds, United Arab Emirates Dirham, Ghanaian Cedi, etc down too. Dem say na only Naira dem go drag down.

I come dey shout "Tinubu, come see oo!!" . Dem come run.

My lord, na so e happen.

377 Likes 41 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Malroux: 1:15pm On May 11
Under the first class accountant my ass.

330 Likes 21 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by 0d0gwu: 1:16pm On May 11
Whom to blame again? Maybe Okada

270 Likes 25 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by DatNiggaDaz: 1:17pm On May 11
grin grin

Emilokan with his Ojuelegba Economics . A fake irreparable damage graduate of Accountancy, the Lagoon fathom builder who assemble's incompetent goons as technocrats.

The thief said this in 2014 👇🏿

grin grin

223 Likes 25 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Racoon(m): 1:18pm On May 11
Who is to be blame now? BDCs, Cryptos, dollar speculators or the FG itself? Seems they are now tired of subsidising the dollar. Balabloo-blu-bulava drug economics illiteracy in the mud. You can steal mandate but can't govern with it. Reno Omokri have not even talk about the dollar issue or insulted Arise TV in recent times

225 Likes 19 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by SpecialAdviser(m): 1:19pm On May 11
Chai. What a BATeria bala blu?

Where are the fake friends of Nigeria?

232 Likes 22 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Nukilia: 1:22pm On May 11
No we need 'Commodification of the Naira Using Cassava'

grin grin grin grin

Agberonomics grin

203 Likes 17 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Bekermann(m): 1:23pm On May 11
Nukilia:
No we need 'Commodification of the Naira Using Cassava'

grin grin grin grin

Agberonomics grin

Owo da? Type of economics.
Even corn that was used to campaign is now a luxury 😂😂😂

218 Likes 24 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Dynamicboss: 1:24pm On May 11
SMH.. Weekend is known for currency gain but here it is tumbling terribly.

Naira is the worst and most inconsistent currency in the world with CBN, Bank executives, politicians, some organizations and individuals putting the country in huge flames

91 Likes 10 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Lavor234: 1:26pm On May 11
Next na Minting and printing oh. A bad workman blames his tools, let Cardaso be implementing IMF policies there, What happened to Greece and Sri Lanka will be child's play

123 Likes 10 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by CodeTemplar: 1:29pm On May 11
Turns out mynd44 was a BMC agent o. The naira has tumbled once more and there is no sign of hmmmm

74 Likes 4 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Cooldowntemper: 1:41pm On May 11
Lol helinues obident are the problem of Nigeria let's ban them

135 Likes 10 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Burruchaga71(m): 4:10pm On May 11
Our God is good all the time.

N2000 loading.

58 Likes 8 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by tommy589(m): 4:19pm On May 11
Ok

1 Like

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by BrodaBenad: 4:23pm On May 11
APC nairaland goons just Tire gan

I mean what will they say now cheesy

138 Likes 8 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by nobaga: 4:47pm On May 11
When you are so bitter with bad bele, you are incapable of constructive criticism.

If they know how naira can appreciate from a sorry state, they know why naira is losing value. Until they mop up excess unproductive naira buried in their backyards, bullion vans, volts and those crumbling in their warehouses, naira will never appreciate.

Fooling around the edges curbing the average man transformation in dollars is good as a message about your seriousness.

But the main crooks are the ones that can flush Bureau du Change with buried naira at will.

Get serious!

29 Likes 5 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by DMerciful(m): 5:13pm On May 11
Where are the gazelle gagaragas to defend Amoda?

Seunmsg, LegendHero paraman, yarimo...come and demonstrate your cluelessness

133 Likes 10 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Joshy4u: 5:29pm On May 11
Tinubu, his ministers, party members and his supporters are the various troubles in Nigeria. Very dull set of people.
Imagine a party having Ganduje(a public thief) as its chairman.

148 Likes 8 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by nedu666: 5:37pm On May 11
Unfortunately for them, there is no one to blame unless they decide to face buhari

108 Likes 5 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by ogododo: 5:40pm On May 11
DMerciful:
Where are the gazelle gagaragas to defend Amoda?

Seunmsg, LegendHero paraman, yarimo...come and demonstrate your cluelessness
Dem dey chop.

24 Likes 3 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Kukutente23: 5:50pm On May 11
God will make a way
We all have to put our hands on the deck and push on our words and deeds while putting govt on its toes to be alive to its responsibilities.

We'll get there

4 Likes 1 Share

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Baxilexi(m): 5:51pm On May 11
It’s time for humble pie… outdate the old naira notes.

Encourage e-banking on all platforms.

Invite global food retailers (Aldi, Kroger, Carrefour) to open shop in the country, this will help stabilize/reduce demands FX, support food security and create employment. On the downside, It’s will temporarily halt local production but the issues bedeviling local production are multifaceted and cannot be addressed in the short-medium term.

21 Likes 5 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by ogododo: 6:16pm On May 11
Nlfpmod, dollar dey waka again oo.

16 Likes

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Putindbutt: 6:26pm On May 11
ogododo:
Nlfmod, dollar dey waka again oo.
Shebi you don give yourself a job, as official thread creator of naira affairs. when naira start picking up again, don't continue to open the thread if dem born you well.

7 Likes 1 Share

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by ogododo: 7:23pm On May 11
Putindbutt:

Shebi you don give yourself a job, as official thread creator of naira affairs. when naira start picking up again, don't continue to open the thread if dem born you well.
Born throwey.

68 Likes 5 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Putindbutt: 7:30pm On May 11
ogododo:
Born throwey.
That's your father.

8 Likes 2 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by obinna58(m): 7:43pm On May 11
May dem kukuma start selling printing machine give us cos with we go 1k in lots of bundles to buy ewa

2 Likes

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Splashme: 7:45pm On May 11
BATeria failures
.

49 Likes 2 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by Beautifulday: 7:50pm On May 11
Nukilia:
No we need 'Commodification of the Naira Using Cassava'

grin grin grin grin

Agberonomics grin

cheesy grin

You still dey remember comodification of naira using cassava?

😂😂😂😭😭

61 Likes 4 Shares

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by ElevationD: 8:01pm On May 11
What’s actually going on? Without the dollar story, can the nation not move forward? If BAT does not have solutions, then he can seek advice from those who know far more than him. I can give him just one name, if he does not mind.

9 Likes

Re: Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets by marenkurz: 8:07pm On May 11
In a country where people make money by trading the local currency (naira). CBN and EFCC doesn't see anything wrong in it.
And everyone is asking why people are making money trading dollars.

15 Likes 5 Shares

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