Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 - Business

Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 (8373 Views)

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Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by DiamondsAreFore(op): 4:34pm On Mar 05

The Naira has recorded nine consecutive days of depreciation against the United States dollar at the official foreign exchange market on Wednesday. .

Central Bank of Nigeria exchange rate data showed that the Naira further weakened on Wednesday to N1,387.09, down from N1,384.29 on Tuesday.

This means that the Naira dipped by N2.8 on a day-to-day basis. Meanwhile, the Naira dropped significantly by N37.85 since February 23, 2026, when the currency started its depreciation streak at the official foreign exchange market.

At the black market, the Naira remained stable at N1,390 per dollar, according to multiple Bureau de Change operators in Abuja, up from N1,370 recorded nine days ago.

Meanwhile, the country’s external reserves rose further to $49.88 billion as of March 3, 2026.

https://dailypost.ng/2026/03/05/naira-records-nine-consecutive-depreciations-against-us-dollar-sheds-n37-85/

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by tito44: 4:41pm On Mar 05

Mumu country led by phools

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by lordprogress: 4:42pm On Mar 05

And some fols were say it was go to crash less than. 1k

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by Flets: 4:42pm On Mar 05

DiamondsAreFore:
https://dailypost.ng/2026/03/05/naira-records-nine-consecutive-depreciations-against-us-dollar-sheds-n37-85/

The currency manipulation is no more giving

Immediately I heard government minions suggesting 1000naira per USD and urging people to sell their dollars…. It was obvious something was up their sleeve

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by lagonovo: 4:42pm On Mar 05

That's normal. Good we have considerably reduced all the abracadabra.

A currency's value is like a thermostat for the economy. High value is good for buying imports, but very bad for exports. Low value boosts exports, but risks inflation. Stability is key!

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by givedemwotowoto: 4:42pm On Mar 05

After currency manipulation and propaganda comes reality

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by Wickedfact: 4:42pm On Mar 05

Those who have never held a visa in their lives will soon start wailing.

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by ironheart(m): 4:44pm On Mar 05

Yet the government did not do anything to stop the fall. When it was appreciating the government went ahead to stop it from appreciating. What a country

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by LofP(m): 4:44pm On Mar 05

We will all learn global economics together. Wasn't it just last month someone was talking about seeing 1000 to a dollar soon on a different thread? grin

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by AMI3(m): 4:46pm On Mar 05

Wickedfact:
Those who have never held a visa in their lives will soon start wailing.

Hahaha 🤣🤣🤣🤣
This man. Make una come see reasoning.

Chai naija we haill thee

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by atobs4real(m): 4:47pm On Mar 05

Nothing is working except corruption in politics

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by Svoboda(m): 4:47pm On Mar 05

Dollar remittance from diaspora Nigerians has shrunk from the usual Christmas holidays high.

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by JikSneh: 4:48pm On Mar 05

These are the issues.
When you hand over the most populous black country to a depreciating man, this is what you get

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by ERockson: 4:48pm On Mar 05

I think this is deliberate by the government to protect foreign investment and ensure people holding dollars do not lose money.

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by NaijaNaWaa: 4:48pm On Mar 05

lordprogress:
And some fols were say it was go to crash less than. 1k

That’s what they say when they want it to crash so they can buy off $ at cheap rates

Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by Elvis2kay: 4:51pm On Mar 05

tito44:
Mumu country led by phools

..

Aggression dey kill ooo. You better start living and let the government be. Life is too short when u believes u can't be successful because of bad government

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by Kushites: 4:52pm On Mar 05

THIS MUST BE AN EARLY FALLOUT FROM THE US/ISRAELI INVASION OF IRAN SUPPORTED BY YOU PEOPLE.

DON'T COMPLAIN.

In fact the fallout is only just starting.

PRAY IT DOESN'T END WITH NUCLEAR RADIATION FALLOUT. 🙏

Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by Precious201010(m): 4:55pm On Mar 05

1 step forward and 21 steps backward..

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by mindtricks: 4:55pm On Mar 05

Elvis2kay:
..

Aggression dey kill ooo. You better start living and let the government be. Life is too short when u believes u can't be successful because of bad government

And let the criminals be, you mean.

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by tito44: 4:56pm On Mar 05

Elvis2kay:
..

Aggression dey kill ooo. You better start living and let the government be. Life is too short when u believes u can't be successful because of bad government

Let the govt be Kee u there. U think I am at ur level? Better hold ur govt accountable u phool. For ur info, I earn better when the naira depreciates and is at its worse, so better chill

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by mindtricks: 4:56pm On Mar 05

There's no pity for anyone who takes these thieves seriously, they will surely end up in tears.

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by Amalekki: 4:59pm On Mar 05

lagonovo:
That's normal. Good we have considerably reduced all the abracadabra.

A currency's value is like a thermostat for the economy. High value is good for buying imports, but very bad for exports. Low value boosts exports, but risks inflation. Stability is key!

Well stated. It goes both ways and smart people figure out business plans to benefit from both ends of the balance. Neither high or low currency value is inherently good or bad from a neutral or general perspective as long as it's not excessive.

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by Henix(m): 4:59pm On Mar 05

The effect of Chinese holidays. Purchase orders, and the demand for dollars are gradually picking up

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Re: Naira Records Nine Consecutive Depreciations Against US Dollar, Sheds N37.85 by nnamokenna(m): 5:00pm On Mar 05

Wickedfact:
Those who have never held a visa in their lives will soon start wailing.

You are even talking of visa. Some have never seen a Nigerian passport physically before. Ask them and they would spew everything they read on social media back at you. Many don't even know what Google is.

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