₦airaland Forum

The naira appreciated against the dollar in both the official and parallel foreign exchange markets on Thursday.

According to data from the Central Bank of Nigeria, CBN, the naira closed at N1,532 per dollar on Thursday, improving from N1,545 recorded on Wednesday.

Similarly, data from FMDQ showed that the naira strengthened to N1,534.35 per dollar on Thursday, compared to N1,549.29 traded the previous day. This represents an appreciation of N14.94 against the dollar.

At the parallel market, the naira also gained trading between N1,640 and N1,680 per dollar on Thursday, compared to N1,710 on Wednesday, according to Abubakar Alhassan, a Bureau de Change operator in Wuse 4, Abuja.

Naira has experienced fluctuations throughout the week.
This volatility follows the recent introduction of the Electronic Foreign Exchange Matching System, EFEMS, by the CBN, aimed at ensuring more transparent FX transactions.

PlasmaTV:
This is NOT appreciation. It is insanity.

zero8zero:
It is $1,552 this morning

PlasmaTV:
How much was naira to dollar when Tinubu was sworn in?

PlasmaTV:
How much was naira to dollar when Tinubu was sworn in?

MossadAgent:
What you should take away here is that the Naira is appreciating and it isn't down to the CBN defending the Naira artificially but through solid reforms.

If this trend continues, the true value of the Naira will continue to appreciate .

You should have asked how come Naira became so weak after floating it .

And you will find out that it was due to the reckless ways and means extended to the last government and backed only by fiat printing.

If your useless Emefile had done the right thing and upheld fiduciary discipline in defending and managing the currency supply we won't be here.

Emefile and his printing press is why we are here today but in due time, the FX window is being used to mop up excess Naira from circulation which Emefile intended to do with his failed cash heist.

PlasmaTV:
I asked a simple question, chief
How much was naira to dollar when Tinubu was sworn in?

zero8zero:
mynd 44, nlfpm od

MossadAgent:
And where you getting access to FX when it was artificially pegged for political reasons?

This is the first time in the history of the Naira that it is being treated as a convertible currency and in the wake of excess fiat, it's doing remarkably well.


The key points to take note of here is that the old multilayered and opaque FX windows only benefited rent seekers .

PlasmaTV:
How much was naira to dollar when Tinubu was sworn in?

Honestey:
The storm is over

PlasmaTV:
How much was naira to dollar when Tinubu was sworn in?

PlasmaTV:
I asked a simple question, chief
How much was naira to dollar when Tinubu was sworn in?

MossadAgent:
And where you getting access to FX when it was artificially pegged for political reasons?

This is the first time in the history of the Naira that it is being treated as a convertible currency and in the wake of excess fiat, it's doing remarkably well.


The key points to take note of here is that the old multilayered and opaque FX windows only benefited rent seekers .

lexy2014:
You don't need plenty grammar to answer the question.

Just give a figure

lexy2014:
You don't need plenty grammar to answer the question.

Just give a figure

MossadAgent:
And where you getting access to FX when it was artificially pegged for political reasons?

This is the first time in the history of the Naira that it is being treated as a convertible currency and in the wake of excess fiat, it's doing remarkably well.


The key points to take note of here is that the old multilayered and opaque FX windows only benefited rent seekers .

zero8zero:
It is $1,552 this morning