₦airaland Forum

About 24hrs ago, Naira was traded against USDT/ USD around #1,716 per dollar

Today 5 December, Naira is trading around #1,610 per dollar

The funniest thing is dollar keeps dropping every hour. This has stopped most crypto currency trade as dollar is expected to keep dropping.

UPDATED

Naira now #1,460 down from #1,720 it traded earlier this week. With current trend, Naira is expected to end the week around #1,000 to #1,200. Hopefully, CBN will update public about the current uprising of Naira against Dollar

No vex me oooo

what's your definition of massive?

I've noticed that as well—it seems the market is reacting to the trading activities on the new CBN NFEM platform. Hopefully, we’ll discover the true price in the coming weeks.

https://www.cbn.gov.ng/rates/ExchRateByCurrency.html I wish they would include the daily transaction volumes for greater transparency.

veli1:
what's your definition of massive?

Base on your question, you don’t need to know.

Very good

Nonsense

shortgun:
Nonsense

First to cry 😭😭😭😭

Jagabanbattle:
About 24hrs ago, Naira was traded against USDT/ USD around #1,716 per dollar

Today 5 December, Naira is trading around #1,610 per dollar

The funniest thing is dollar keeps dropping every hour. This has stopped most crypto currency trade as dollar is expected to keep dropping.

The drop of the dollar is only attributable to the influx of dollars by returnees and inflow from Diaspora. It is 1680 in the parallel market.

It has dropped to #1,589 within an hour of this post

Dalohad:
The drop of the dollar is only attributable to the influx of dollars by returnees and inflow from Diaspora. It is 1680 in the parallel market.

You mean they still find a reason to return to Nigeria?! 🤔

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Jagabanbattle:
About 24hrs ago, Naira was traded against USDT/ USD around #1,716 per dollar

Today 5 December, Naira is trading around #1,610 per dollar

The funniest thing is dollar keeps dropping every hour. This has stopped most crypto currency trade as dollar is expected to keep dropping.

baba one on one like this, I fit knack u better choke-slam......you know wetin be massive?.........baba no make me swear for u ooo!!

Not massive, but it's impressive. The gain started following direct FX trading on Bloomberg. This is bad news for fx holders and crypto people. Good news for Nigerians, if the gain stays consistent enough.

Softmirror:
You mean they still find a reason to return to Nigeria?! 🤔

They have made money, winter is in the air. Coming home to relax at least once biannually is part of the Japa project.

Dalohad:
They have made money, winter is in the air. Coming home to relax at least once biannually is part of the Japa project.

u are super ryt

Jagabanbattle:
It has dropped to #1,589 within an hour of this post

Which app is this?

That was why I sold my USDT yesterday
It was 1 USDT= 1729.16 on Monday.

Jagabanbattle:
About 24hrs ago, Naira was traded against USDT/ USD around #1,716 per dollar

Today 5 December, Naira is trading around #1,610 per dollar

The funniest thing is dollar keeps dropping every hour. This has stopped most crypto currency trade as dollar is expected to keep dropping.

Dalohad:
They have made money, winter is in the air. Coming home to relax at least once biannually is part of the Japa project.

Haba now, when the can go to Dubai e t c to relax? 😁

Acidosis:
Not massive, but it's impressive. The gain started following direct FX trading on Bloomberg. This is bad news for fx holders and crypto people. Good news for Nigerians, if the gain stays consistent enough.

It is not sustainable

Ishilove:
It is not sustainable

Hmmn.. A major concern

I pray it continues, I have school fees and subscriptions to pay next year

Jagabanbattle:
It has dropped to #1,589 within an hour of this post

Check now and give an update.
I think it's on the increase again.

Drop make I buy USDT

Binspector:
Check now and give an update.
I think it's on the increase again.

Back to #1,620. I guess it will stay around #1,600 for a while. Also, this is not sustainable unless a fraudulent loophole was blocked. We need to invest heavily on agriculture and tech.

We have 774 local governments in Nigeria. Buy 5 tractors, 5 ploughing machines to each local governments with a department of police dedicated to farming areas. An office to borrow this machines on loan with fertilizer and insecticides supply.

An avenue to borrow money if you are tech developer. Present the project you built that needs money to be operated. If government is convinced, they sponsor your projects with a loan. Anything apart from this, nothing will work. All is just propaganda and format. Except you tax your citizens into poverty.

Jagabanbattle:
Back to #1,620. I guess it will stay around #1,600 for a while. Also, this is not sustainable unless a fraudulent loophole was blocked. We need to invest heavily on agriculture and tech.

We have 774 local governments in Nigeria. Buy 5 tractors, 5 ploughing machines to each local governments with a department of police dedicated to farming areas. An office to borrow this machines on loan with fertilizer and insecticides supply.

An avenue to borrow money if you are tech developer. Present the project you built that needs money to be operated. If government is convinced, they sponsor your projects with a loan. Anything apart from this, nothing will work. All is just propaganda and format. Except you tax your citizens into poverty.

A corrupt officer of the government is somewhere smiling and laughing at your ideas.

They said they're closing our borders to encourage local farmers but till tomorrow, customs officers and their agents (smugglers) will continue to smuggle rice, frozen chicken, and vegetable oil into the country to sell at exorbitant prices.

What's the government doing about corruption? A Nigerian journalist, Fisayo, provides daily updates and receipts, including names and videos of officers involved in these practices on X, but what has Tinubu's government done about that? Nothing. Dem no send una. He tried to replicate the same expose in another sister criminal agency (petroleum), but we all saw how it ended.

There's a video indicting IBD Dende and others all over social media, but who's going to arrest him? Oh, I almost forgot, this is not a libel or defamation case, just some "minor" corrupt practices here and there...

E be like I go need to buy this dip ohh

Jagabanbattle:
About 24hr

Which App are you using to see this?

Jagabanbattle:
About 24hrs ago, Naira was traded against USDT/ USD around #1,716 per dollar

Today 5 December, Naira is trading around #1,610 per dollar

The funniest thing is dollar keeps dropping every hour. This has stopped most crypto currency trade as dollar is expected to keep dropping.

what app is this? You keep ignoring the question

Jagabanbattle:
It has dropped to #1,589 within an hour of this post

Buy Na.

If it's true buy and show us you have bought. I will buy from you at ₦1680, so you make ₦100+ on each dollar.

lionshare:
I've noticed that as well—it seems the market is reacting to the trading activities on the new CBN NFEM platform. Hopefully, we’ll discover the true price in the coming weeks.

https://www.cbn.gov.ng/rates/ExchRateByCurrency.html I wish they would include the daily transaction volumes for greater transparency.

Thanks for sharing this insight

Whao, just check Bybit to discover what goes for about 1750 is now 1630. If these trends continue, Nigeria inflation will drop drastically.