Naira Depreciates To ₦1,635/$ In Parallel Market - Business - Nairaland
Nairaland Forum › Nairaland General › Business › Naira Depreciates To ₦1,635/$ In Parallel Market (5535 Views)
| Naira Depreciates To ₦1,635/$ In Parallel Market by treesun(op): 7:48am On May 15, 2025 |
The naira yesterday depreciated to N1, 635 per dollar in the parallel market from N1,625 per dollar on Tuesday.https://www.vanguardngr.com/2025/05/naira-depreciates-to-n1635-in-parallel-market-2/ 1 Like
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| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Bobloco: 8:44am On May 15, 2025 |
It's no longer news |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Racoon(m): 9:03am On May 15, 2025 |
Lies and propaganda does not change reality. 48 Likes 1 Share |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Karlovych: 9:11am On May 15, 2025 |
 He brought millions of investments into the country.He paid all debts owed to IMF. He had first class in Accounting. Amoda Ogunlere has finished the country. 61 Likes 3 Shares |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by EdiskyHarry: 9:33am On May 15, 2025 |
According to some fuuls and APC online bastards, The masses must suffer, go through intense hardship, severe hunger, misery, collapse and die for tinubu to fix the economy of Nigeria. 40 Likes 4 Shares |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by idalex: 9:33am On May 15, 2025 |
hmm |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Typing: 9:34am On May 15, 2025 |
Tinubu Don spoil this Country. Himself and his economy team are CLUELESS 62 Likes 1 Share |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by bigdammyj: 9:35am On May 15, 2025 |
Noted. 1 Like |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Hemanwel(m): 9:35am On May 15, 2025 |
Peter Obi and El-Rufai and Atiku, na una do this one! 8 Likes |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by crossbreedwears(m): 9:35am On May 15, 2025 |
Is there nothing that can be done to reduced this exchange rate for Godsake? How did Abacah maintained dollar rate at a single amount for the time he ruled 17 Likes 1 Share |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Inspirer1: 9:35am On May 15, 2025 |
What's happening to our policies? 1 Like |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Dogalmighty17: 9:35am On May 15, 2025 |
. |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Typing: 9:35am On May 15, 2025 |
Karlovych:All you mentioned are APC's propaganda. Tinubu didn't achieve anything 53 Likes 2 Shares |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by DeLaRue: 9:36am On May 15, 2025*. Modified: 9:52am On May 15, 2025 |
There is no other country in the world where people obsess needlessly about small movements in their currency. The Naira has been very stable since before the beginning of the year, and this year so far, average volatility has been around 2%. That's a solid performance that has driven currency speculators into redundancy. Speculation is mostly dead. Every currency moves either way. What's important is the movements should be relatively small. That's where the naira is right now. The CBN has done an excellent job of making the Naira stable. 3 Likes 4 Shares |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Hemanwel(m): 9:36am On May 15, 2025 |
crossbreedwears:This is where you begin to suspect IMF and World Bank's so-called intervention policies. 1 Like |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Clasmanj(m): 9:36am On May 15, 2025 |
Awful |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Lanre4uonly(m): 9:37am On May 15, 2025 |
It is well. |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Dogalmighty17: 9:37am On May 15, 2025 |
Inspirer1:policies don polisee shege for Tinubu hand. 4 Likes |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Aether(m): 9:37am On May 15, 2025 |
Handling the economy, just like he promised. Reducing the purchasing power of the people, I mean how much more can someone keep his promise beyond this!! Since this guy came to power, house rent alone has increased more than 100%, yet salary never increase. The only respite is the fact that even his average supporters are enjoying the same conditions 8 Likes 2 Shares |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by ayobaye(m): 9:38am On May 15, 2025 |
Managing an economy has so many factors to be considered. Forex is just one of the factors. No one looks at the government if food is on his table. Insecurity is a major bane to the dismembered economy that we see in the recent time. 1 Like |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by malali: 9:39am On May 15, 2025 |
1. FX Liquidity Is Fragile: CBN’s reserves and interventions aren’t deep enough to stabilize demand. 2. Parallel Market Feeds on Uncertainty: Importers and investors panic-buy dollars due to low faith in consistent policy. 3. Rates Are Artificially Split: Two markets (official + black) with different incentives = arbitrage and volatility. 4. Oil Revenue Is Weak + Debt High: Nigeria earns less FX than it needs. Supply ≠ Demand. Bottom line: Until Nigeria exports more non-oil value or builds real FX buffers, naira will continue falling. 6 Likes 2 Shares |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by DMerciful(m): 9:40am On May 15, 2025 |
Na statistics we go chop?  |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by theredaddy: 9:40am On May 15, 2025 |
They we should not demarket Nigeria, Tinubu are grateful for all you have done for us 1 Like |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by EasternActivist: 9:41am On May 15, 2025 |
1 dollar cruising to 2k in just 2 years of tinubu Calamity 8 Likes 1 Share |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by rman: 9:44am On May 15, 2025 |
The headline and the content are contradictory. How did an appreciation in the official market captured as depreciation in the headline? 2 Likes |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by shortgun(m): 9:48am On May 15, 2025 |
The decline continues |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by PlasmaTV: 9:51am On May 15, 2025 |
DeLaRue:You need help ASAP. 7 Likes |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by DeLaRue: 9:54am On May 15, 2025 |
PlasmaTV:You didn't deny what I wrote. |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by DeLaRue: 9:55am On May 15, 2025 |
malali:This looks like a copy and paste from the past. Today's reality is different. 1. FX reserves is around $40 billion. That's good. 2. Nigeria's dependence on oil as sole source of FX is reducing. Positive balance of trade and growing remittances through official channels are changing the narrative. That is why, despite the recent dramatic fall in the price of crude oil, the Naira remained gidigba. 3) Arbitrage opportunities between official and black market rates have dwindled significantly as the difference in prices between the 2 markets have narrowed massively. That's why speculators have run away. 4) Non oil exports are booming, hence 2024 record positive trade balance of around $6.5 billion. The Nigerian economy is no longer all about oil. Cocoa is pumping dollars and Euros. So are sesame seeds and others. The economy is rebalancing, but some people still live in the past believing in outdated statistics that bears no relation to the present. |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by Kingpele(m): 9:58am On May 15, 2025 |
When u have an old egocentric homo sepiens at the helm of national affairs u will have a few chances of having a stable economy that serves all citizens....my only concern is poor people who suffer the most from this harsh economic policies of government and still find a way to defend them ,is crazy 3 Likes 1 Share |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by uniquelyspecial(m): 9:59am On May 15, 2025 |
Is that part of the temporary pain on our way to recovery? Helinus, Yarimo and others who do no mean well for Nigeria, I trust you guys will avoid posts like this. 3 Likes |
| Re: Naira Depreciates To ₦1,635/$ In Parallel Market by nairalanda1(m): 10:00am On May 15, 2025 |
DeLaRue:That's because we are an import dependent economy. Even most manufacturing depends on imports...so at the end, people obsess over forex rates. To some extent, it's a global game, which is why when you watch Aljazzera, CNN and some other broadcasters (and there is Bloomberg which essentially is CNN for businesspeople) they show the exchange rate every now and then. Improved travel and higher rates of global trade (nowadays, one can sell stuff from a remote village in Nigeria..to a USA buyer in theory)....means that people have to know how the exchange rate flows. TLDR...everyone does it. Not just Nigerians. 3 Likes 2 Shares |
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