₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day - Business

₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day - Business - Nairaland

Nairaland Forum › Nairaland General › Business › ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day (11776 Views)

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₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by savenaijatoday(op): 2:00am On Jul 11, 2024

The Naira depreciated massively against the dollar in the foreign exchange market.

FMDQ data showed that the Naira weakened significantly to N1561.98 against the dollar on Wednesday from N1532.58 traded on Tuesday.

This represents an N29.4 against the dollar compared to the N1532.58 traded on Tuesday.

Similarly, at the parallel foreign exchange market, the Naira fell to N1560 per dollar on Thursday from N1540 the previous day.

Further analysis showed that the Naira lost N29.4 and N20 against the dollar on Thursday at both official and parallel foreign exchange markets.

The figure surpassed the N22.91 depreciation traded from last Friday to Wednesday.

The implication is that the country’s currency had continued its depreciation streak racing to near N2000 per dollar.

The development comes despite the increase in Nigeria’s external reserves which stood at $34.66 billion as of July 4, 2024.

The most recent time the Naira was near the N2000 per dollar mark was on February 20, 2024, when it traded at N1825.

https://dailypost.ng/2024/07/10/naira-depreciates-massively-against-dollar-in-single-day/

1 Like

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by DonMarkuzi(m): 2:02am On Jul 11, 2024

It would depreciate to 1700 within 2 weeks if unchecked.

36 Likes 5 Shares

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by pointblank247(m): 3:06am On Jul 11, 2024

Reno omokirikiri no-go hear this one

80 Likes 7 Shares

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by Notfogotten: 3:28am On Jul 11, 2024

Naira to hit #2000 per USD in the coming weeks.

Start financial arbitrage now. Your politicians are already mopping up available USD.

I pity the poor in Nigeria.

71 Likes 9 Shares

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by Kanixt(m): 3:46am On Jul 11, 2024

Reno omokri is behind it. He's hiding under obi to go unnoticed. Tinubu gov is now aware of Reno mission to distablise naira.

35 Likes 6 Shares

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by Tochi3(m): 3:47am On Jul 11, 2024*

Ojuelegba emilokonomics from the irreparable certificate fraud has destroyed Nigeria..He thinks Nigeria is Lagos where online Lagosians are hustling & hailing him on social media for their miserable stipends.. grin

..the reason tribalistic emilokan creatures are opening one tribalistic thread to the other..to divert attention from the renewed hopelessness of Thief'nubu..

..the incompetent thief must be sent packing by all meanns necessary..Thief'nubu has nothing upstairs..

56 Likes 8 Shares

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by Forumites: 4:02am On Jul 11, 2024

Na statistics we go chop?

59 Likes 7 Shares

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by Racoon(m): 4:09am On Jul 11, 2024

Now all the fools who criminally enthroned this catastrophe after Buhari are beginning to understand how someone overhyped and garbed in borrowed robe who does not know how the minutest of statistical indices can affects the economic life of a nation?

58 Likes 6 Shares

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by DesChyko: 5:06am On Jul 11, 2024*

If the Naira is able to survive the oncoming demand as many will be looking to begin school abroad in September, then there is hope.

3 Likes

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by oz4real83(m): 5:27am On Jul 11, 2024*

Apart from fighting bureau d change operators, the govt has done nothing significant to improve the naira, we still use the little dollar we earn to import fuel, generators, pay foreign debts, pay foreign medical bills of top govt officials and foreign companies are leaving en masse embarassed

, all our sources of foreign exchange are getting smaller by the minute embarassed

38 Likes 1 Share

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by DMerciful(m): 6:12am On Jul 11, 2024

Praise God

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by Kaycee9242(m): 6:23am On Jul 11, 2024

Nigeria is on autopilot, no president.

25 Likes 2 Shares

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by MrMiyaggi: 6:27am On Jul 11, 2024

And a self acclaimed Okpolor eyed bat accountant once asked: “Na statistics we go chop?” grin

67 Likes 7 Shares

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by greenermodels: 7:19am On Jul 11, 2024

Break up this country now,the suffering and hopelessness is too much.

19 Likes 4 Shares

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by Taich(m): 8:11am On Jul 11, 2024

Until the masses unite, this will continue.

1. This is sabotage by binance.
2. We import too foods grow your garden like our 1st lady.
3. Buy made in Nigeria to grow Naira.
4 Be patriotic by selling your dollars.

These are the words of scammers in power.

31 Likes

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by Beautifulday: 8:12am On Jul 11, 2024

Make e enter 1700 before month end abeg

10 Likes 2 Shares

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by MrEverest(m): 8:40am On Jul 11, 2024

Little wonder why many Nigerians have become suicidal. I wonder what will be going on in the minds of most people watching helplessly as they sink deeper and deeper into excruciating poverty.

Many are no longer talking about projects like building houses or buying cars, but how to eat, pay rent or children’s school fees have become impossible. Anyone who falls seriously sick now is as good as dead ☠️.

How did Nigeria end up like this huh

19 Likes 2 Shares

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by Malcolm21: 9:26am On Jul 11, 2024

It's binance fault

3 Likes

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by codedguy1(m): 10:14am On Jul 11, 2024

MrMiyaggi:
And a self acclaimed Okpolor eyed bat accountant once asked: “Na statistics we go chop?”

The rodents that were standing on his wrinkled mandate are now shouting ebin pawa.

What does someone that came to steal kill and destroy by grabbing, snatching and running away with power want with statistics?

He doesn't need statistics to do his bidding, which is to scatter grin

17 Likes

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by OriOko88(m): 10:34am On Jul 11, 2024

Tinubu has spent over one year so far in office, he's still yet to grant one single presidential media chat. This is just poignantly appalling.

Thank God I voted pdp. undecided

21 Likes

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by allthingsgood: 10:35am On Jul 11, 2024

Notfogotten:
Naira to hit #2000 per USD in the coming weeks.

Start financial arbitrage now. Your politicians are already mopping up available USD.

I pity the poor in Nigeria.

Stop promoting bad news

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by allthingsgood: 10:36am On Jul 11, 2024

OriOko88:
Tinubu has spent over one year so far in office, he's still yet to grant one single presidential media chat. This is just poignantly appalling.

Thank God I voted pdp.

what will you use the chat to do huh

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by OriOko88(m): 10:40am On Jul 11, 2024

allthingsgood:
what will you use the chat to do

If u are smart,you would see how media chat is shaping the US election. people like u deserve the kind of leaders we have in Nigeria.

38 Likes 3 Shares

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by Yankee101: 10:45am On Jul 11, 2024*

Tinubu, Cardoso, wale Edun
Failures out the door
Tinubu should go to prison

10 Likes

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by allthingsgood: 11:27am On Jul 11, 2024

OriOko88:
If u are smart,you would see how media chat is shaping the US election. people like u deserve the kind of leaders we have in Nigeria.

Jokers. Who chat ep
Nigerian leaders are a reflection of the people. So rest

2 Likes

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by Fragility6: 11:33am On Jul 11, 2024

Beautifulday:
Make e enter 1700 before month end abeg

Lol

2 Likes

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by Beautifulday: 11:38am On Jul 11, 2024

Fragility6:
Lol

I need it this month end grin

Re: ₦1,532 To ₦1,561: Naira Depreciates Massively Against Dollar In A Single Day by Obyangel: 11:39am On Jul 11, 2024

Cardoso is incompetent, must be remove.

Nigerians are really suffering, and the druggie with the brown envelope Western press pretend all is well. Tinubu really mean it, when he said" I will continue from where Buhari stopped" but we'll let him know that power belongs to the people.

13 Likes 1 Share