₦airaland Forum

Ashirioluwa:
What’s good about the news? Please tell me.

How many Nigerians can get dollars at the official market rate?

Most Nigerians who need dollars for one thing or the others will go to black market, and the black market rate as of this morning is almost $1500.

The western union rate is $1 to 1465 naira as of this morning.

Government officials and politicians can buy at official rate, but the general public will have to use black market to get dollars.

DeLaRue:
The naira should stabilise around 1200 by the 3rd quarter and progressively improve to 1100 by first quarter of 2025 and so on.

The CBN should not be in a hurry to bring it down aggressively only to see it go up again.

Stability around a mid price point is better than going from extreme lows to extreme highs in quick successions.

SmartyPants:
lol. People just write without having a clue what they are talking about. Last week the MPR was raised again - this should always trigger fresh forex inflow which should then depress the USD exchange rate for a while.

DeLaRue:
The naira should stabilise around 1200 by the 3rd quarter and progressively improve to 1100 by first quarter of 2025 and so on.

The CBN should not be in a hurry to bring it down aggressively only to see it go up again.

Stability around a mid price point is better than going from extreme lows to extreme highs in quick successions.

SmartyPants:
lol. People just write without having a clue what they are talking about. Last week the MPR was raised again - this should always trigger fresh forex inflow which should then depress the USD exchange rate for a while.

lionshare:
I’ll take a stable 1300/$ over any unstable lower rate. The stability is more important than the rate itself.

Blaze14k:
What tinubu is doing now clearly shows he is using Nigerians to make money. How can you tell me dollar can possibly crash with speed of light and still go back up again and you feel there nothing wrong. You guys voted in a criminal

Emu4life:
Which kind Magic be dz? From 1500+ to 1170......
Well, it's a good news.

Ofunaofu:
You said it before and it crashed back to 1500/$

Don't get worked up on this first year anniversary abracadabra

Heffalump:
I've never seen a country like Nigeria that loves the dollars more than the Americans that own it. We adore another country's currency as if our lives depended on it, and if not we all die!

I've been to other African countries and you don't see them speak much about the dollars. Who did this to us?

Trustyourself:
Do you have access to official rate

NothingDoMe:
Raising MPR does not automatically trigger fresh forex inflows. Where una dey learn this voodoo economics from?

Heffalump:
I've never seen a country like Nigeria that loves the dollars more than the Americans that own it. We adore another country's currency as if our lives depended on it, and if not we all die!

I've been to other African countries and you don't see them speak much about the dollars. Who did this to us?

Peejayz:
abeg which platform is this

Paraman:
700/$ before the end of July

tunjijones:
Wonder why it keeps going up and down.

I know some people don't like this news.

Paraman:
700/$ before the end of July

ClearFlair:
Naso

yhygajo:
If you have a million dollar to try, i might tell you so you can get in on the action

Paraman:
Which official rate are you talking about?

Trustyourself:
Can you get FX on the official rate?

Emu4life:
Which kind Magic be dz? From 1500+ to 1170......
Well, it's a good news.

Heffalump:
I've never seen a country like Nigeria that loves the dollars more than the Americans that own it. We adore another country's currency as if our lives depended on it, and if not we all die!

I've been to other African countries and you don't see them speak much about the dollars. Who did this to us?

SmartyPants:
You know nothing at all. Just as our primitive ancestors did, that which you do not understand you ascribe to voodoo. A thoroughly bush fellow you are!



Now that your scolding is out of the way, what you need to know is that foreigners invest in our financial instruments. Now when the interest rates are raised, this triggers an uptick in such investment, called foreign portfolio investment.

Do you understand or it still sounds like voodoo to your vacuous mind?

NothingDoMe:
Lmao! Invest with an unstable currency?

Like Tinubu like supporters. No wonder the Economy is in shambles. 😅

tunjijones:
Wonder why it keeps going up and down.

I know some people don't like this news.