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Naira Rises To ₦‎1,490/$ In Parallel Market - Business (5) - Nairaland

Nairaland ForumNairaland GeneralBusinessNaira Rises To ₦‎1,490/$ In Parallel Market (10827 Views)

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Re: Naira Rises To ₦‎1,490/$ In Parallel Market by Putindbutt(m): 9:37am On Feb 27, 2025
Blazetrailer:
Lol....you know an slowpoke by how poorly he reacts tp an intellectual challenge

instesd if the dullard to challenge my position with facts and an intellectual counter argument he is advising me to leave him alone to wallow in his buffonery..... grin grin grin

How did APC gather these group of dimwits to defend them online? .....with all the money they have access to??

Surely they can afford some decent educated people who are currently looking for jobs....not these agbero and those who could not pass First school leaving certificate exams disguising as experts.......lol
All these tactics of deflecting no dey work on me o, shebi you know 🤣🤣. If you dey continue to do pass yourself, you know how it will land you grin grin
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by Blazetrailer: 9:40am On Feb 27, 2025
Lol.....dude doesn't realise his new name yet....Jabroni of Nairaland...lol...

Search Jabroni on google....you go cry for 1 week without stopping


Putindbutt:
All these tactics of deflecting no dey work on me o, shebi you know 🤣🤣. If you dey continue to do pass yourself, you know how it will land you grin grin
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by nedekid: 9:42am On Feb 27, 2025
Thewrath:
And fed govt is eyeing 6 world bank loans!
No be juju be dat?
Same time they say FR is over $40b.
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by Putindbutt(m): 9:51am On Feb 27, 2025
Blazetrailer:
Lol.....dude doesn't realise his new name yet....Jabroni of Nairaland...lol...

Search Jabroni on google....you go cry for 1 week without stopping
I will flog you so bad on this platform, shebi you know 🤣🤣😭
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by MakindeHassan: 9:53am On Feb 27, 2025
MrPOTUS:
Well, I guess all countries are have an inflation of over 30% right?

US inflation went from 2% to 3% and they're panicking, ours is over/around 30% and you want us to believe its a global thing.

Our currency was one of the worse performing currency, and u say its a global thing. Well thank God the currency is now performing.

We know there's a global crises but our leaders make up 90% of Nigeria's problem.
God bless you. I’m tired of how Nigerians talk. All the smarts people have japa from Nigeria and those lest behind are not ready to move forward.

I’m happy it has dropped a little but what was the exchange rate before APC. Why will someone be giving himself hope from the back and saying inflation is a global thing forgetting Naira was the worst performing currency. Why can’t we compare ourselves to the top countries and benchmark our performance to theirs.

Dull mediocre accepting people full naija honestly.
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by Blazetrailer: 9:54am On Feb 27, 2025
Lol...jabroni....on nairaland, you are my monkey....everyone knows that.


Putindbutt:
I will flog you so bad on this platform, shebi you know 🤣🤣😭
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by Blazetrailer: 10:11am On Feb 27, 2025
Hey Jabroni(aka puttin d butt)👋.....have you checked the meaning ofn our new name?

Don't run away....we need a court clown(osinwin gbogbo ilu) here on Nairaland. We are missing you already... grin grin grin
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by porthouse7(f): 10:25am On Feb 27, 2025
Eriokanmi:
I don't need to.move an each to do fx exchange. All am saying is, your rate isn't correct. The rate of the app I use is much lower than what an aboki or a registered BDC will trade. The rate actual and current like I said is above what you quoted. I order things regularly. See the rate as at yesterday below.
app is not reality, go change money for aboki hand face to face, drag price with dem, I drag aboki from 1510
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by MrPOTUS: 10:32am On Feb 27, 2025
MakindeHassan:
God bless you. I’m tired of how Nigerians talk. All the smarts people have japa from Nigeria and those lest behind are not ready to move forward.

I’m happy it has dropped a little but what was the exchange rate before APC. Why will someone be giving himself hope from the back and saying inflation is a global thing forgetting Naira was the worst performing currency. Why can’t we compare ourselves to the top countries and benchmark our performance to theirs.

Dull mediocre accepting people full naija honestly.
Mediocre people always vote in mediocre to rule them.

How can you be in a burning house and say everything is alright.

If only most Nigerians know how bad a double inflation figure is, they won't be this docile and subjugated.
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by galserv: 10:45am On Feb 27, 2025
happney65:
Where he rise? I was still charged 1600 yesterday. Eyin oniro oshi. undecided
Olod*!

I just called my aboki

He told me it's NGN1,450.
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by Vision101(m): 10:52am On Feb 27, 2025
Nonybb:
APC is comparing failure(N1730/$ last year) with failure(N1490/$ this year). Return it back to N500/$ at least and then we are going somewhere
No more subsidy please 🥺
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by badoh(m): 11:08am On Feb 27, 2025
shortIGBOman:
Why did your incompetent Tinubu float the dollar in the first place, when he know he will end up supporting it with our external reserve?

I repeat, Tinubu and his economy team are clueless. A primary 5 student will manage this economy better than them
Please is it sustainable to continue to defend the Naira and also paying subsidy on PMS? For how long will the country continue to action these two policies?
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by agabusta: 12:03pm On Feb 27, 2025
FreeStuffsNG:
Stop misinforming the public. There's only one rate and you can walk into a bank to do your fx transaction.

Black market is not a parallel market. If you are doing parallel market then it's arbitrary and not efficient for reference.
You can't. I wanted to travel, I needed forex, bank couldn't provide. I had to go to Aboki
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by BreconHills(m): 12:04pm On Feb 27, 2025
agabusta:
You can't. I wanted to travel, I needed forex, bank couldn't provide. I had to go to Aboki
Which bank and what is your location?
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by agabusta: 12:13pm On Feb 27, 2025
BreconHills:
Which bank and what is your location?
Lagos. Are you sure you are in Nigeria? The bankers themselves will tell you, you better sort yourself out elsewhere.

The forex market has improved but not yet seamless. The parallel market is still your go to for easy access to forex. And they also get substantial inflows.

The banks are jokers. A bank like Access will advertise on their app that you can directly convert your forex in dom account to naira, but quote a ridiculous amount like 150/200 naira lower than all the forex markets. How will they ever get a good forex inflow through this approach? If their rate is close to market rates, I believe they'll be able to rake in significant forex from dom accounts.
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by BreconHills(m): 12:22pm On Feb 27, 2025
MrPOTUS:
Well, I guess all countries are have an inflation of over 30% right?

US inflation went from 2% to 3% and they're panicking, ours is over/around 30% and you want us to believe its a global thing.

Our currency was one of the worse performing currency, and u say its a global thing. Well thank God the currency is now performing.

We know there's a global crises but our leaders make up 90% of Nigeria's problem.
And the saving rate on a US bank account is what? Nigeria money market nko? And what is NYSE exchange returning vs NGX?

What meal can you buy for a dollar vs Naira?

You cannot do a direct comparison of the US economy and the NG economy because purchase power of both currencies is completely different.

Yes inflation is high but so is the interest rate. If you invest cash in money market your negative is about -3% on passive investment. If you own your own home , your return is positive on PASSIVE investment. If you are bold enough to invest on NGX annualised returns will address inflation easily.

On the other hand if you are to hold USD in Nigeria your return is max 7% less charges and you may well lose money on conversion.

The point is not comparing one economy to another but understanding that you now have an economy where the indices are well understood, transparent and manageable.

Balance of trade figures - $18bn positive is enough sign that the economy is headed in the right direction. Reserves are at the highest level of accretion since 2022. States are receiving 300% more in monthly allocation while students can now find their education through NELFUND.

In the period of subsidies, this was not the case.

PBAT has laid a solid foundation🌷🌼🪻
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by Inception(m): 12:22pm On Feb 27, 2025
NothingDoMe:
Rest. Una dey on repeat since last year.
As in ehn... These people are evil!!

Now they lie with reckless abandon!
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by BreconHills(m): 12:30pm On Feb 27, 2025
agabusta:
Lagos. Are you sure you are in Nigeria? The bankers themselves will tell you, you better sort yourself out elsewhere.

The forex market has improved but not yet seamless. The parallel market is still your go to for easy access to forex. And they also get substantial inflows.

The banks are jokers. A bank like Access will advertise on their app that you can directly convert your forex in dom account to naira, but quote a ridiculous amount like 150/200 naira lower than all the forex markets. How will they ever get a good forex inflow through this approach? If their rate is close to market rates, I believe they'll be able to rake in significant forex from dom accounts.
This has not been my experience.

In any case what is the arbitrage between bank and BDC? Almost non existent.

And if you have to go to the parallel market - go. The difference is not worth carping about.
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by dettolgel: 1:29pm On Feb 27, 2025
galserv:
Hallelujah!!!

Pigs won't like this good news

They are already grunting nonsense

@dettolgel How far? cheesy
It is still where it was when you posted this ooh grin
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by Salebo: 3:46pm On Feb 27, 2025
shortIGBOman:
Why did your incompetent Tinubu float the dollar in the first place, when he know he will end up supporting it with our external reserve?

I repeat, Tinubu and his economy team are clueless. A primary 5 student will manage this economy better than them
We can guess your background and status of your parents and those that raised you by your sprws..
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by shortIGBOman: 7:31pm On Feb 27, 2025
Salebo:
We can guess your background and status of your parents and those that raised you by your sprws..
See painment grin
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by Konquest: 8:49am On Feb 28, 2025
Re: Naira Rises To ₦‎1,490/$ In Parallel Market by Tulsaguy: 6:08pm On Mar 21, 2025
Sunnyrado:
Good morning, I just joined the WhatsApp group from TG kindly approve my request.
Thank you
I think I have.
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