Dollar Crashes Again At Parallel Market - Business

Dollar Crashes Again At Parallel Market - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Dollar Crashes Again At Parallel Market (78279 Views)

Dollar Crashes Again At Parallel Market by Oasis007(op): 6:57pm On Mar 07, 2017

The News Agency of Nigeria (NAN) reports that the Naira traded at N460 to a dollar, after speculators had forced it 3 points down amid liquidity boost on Friday.

However, the Naira weakened against the Pound Sterling but maintained its Euro rate as it traded at N560 and N480, respectively.

At the Bureau De Change (BDC) window, the Naira was sold at N399 to a dollar, while the Pound Sterling and the Euro closed at N580 and N525, respectively.

The Nigerian currency also traded at N305.50 at the interbank window.

In other segments of the market, Deposit Money Banks (DMBs) and Travelex, an International Money Transfer Services Operator, sold the Naira at N370 to a dollar.

Traders expressed the hope that the strengthening of the Naira would reposition the economy for greater productivity.

They, however, appealed to the CBN to sustain the liquidity boost in the market so that the Naira could sustain its gains against the dollar.

NAN reports that some Nigerians, however, expressed worry that the gains of the Naira against the dollar had not translated in the reduction in the prices of goods and services. (NAN)

http://www.dailytrust.com.ng/news/general/dollar-crashes-again-at-parallel-market/188064.html#QIw6sjpYHCUwZltw.99

3 Likes

Re: Dollar Crashes Again At Parallel Market by DONSMITH123(m): 6:58pm On Mar 07, 2017

69 Likes 4 Shares

Re: Dollar Crashes Again At Parallel Market by Oasis007(op): 6:59pm On Mar 07, 2017*

Modified

Slowly but surely...... Nigeria shall be GREAT... if we can believe in the CHANGE Agenda, trust the present GOVERNMENT and persevere a bit MORE!!!

72 Likes 2 Shares

Re: Dollar Crashes Again At Parallel Market by Redoil: 7:01pm On Mar 07, 2017

Oasis007:
Slowly but surely...... Nigeria will be GREAT again!!!

how? With those dullarpos in power

47 Likes 3 Shares

Re: Dollar Crashes Again At Parallel Market by Oasis007(op): 7:01pm On Mar 07, 2017

Redoil:
how? With those dullarpos in power

120 Likes 9 Shares

Re: Dollar Crashes Again At Parallel Market by SuperS1Panther: 7:02pm On Mar 07, 2017

The following people will be sad again this night over this news

Speculators and Hoarders -- economic saboteurs and terrorists

Arm chair economists - prophets of doom of how Naira will fall again

Wailers -- one less thing to wail about

Ipods - they hate everything and anything

65 Likes 11 Shares

Re: Dollar Crashes Again At Parallel Market by DONSMITH123(m): 7:03pm On Mar 07, 2017

SuperS1Panther:
The following people will be sad again this night over this news

Speculators and Hoarders -- economic saboteurs and terrorists

Wailers -- one less thing to wail about

Ipods - they hate everything and anything

watch how they will rush down here to roast you like Mallam Sabo Suya

20 Likes 3 Shares

Re: Dollar Crashes Again At Parallel Market by Oasis007(op): 7:07pm On Mar 07, 2017

Mr. Lalasticlala...... kindly do the needful, this is a good news to end the Day!

God bless PMB!
God bless PYO!!
God bless FRN!!!

12 Likes 2 Shares

Re: Dollar Crashes Again At Parallel Market by DONSMITH123(m): 7:08pm On Mar 07, 2017

lalasticlala, Mynd44 oya to the promise land

Re: Dollar Crashes Again At Parallel Market by BlackDBagba: 7:16pm On Mar 07, 2017

Still not good enough!

2 Likes

Re: Dollar Crashes Again At Parallel Market by malton: 8:01pm On Mar 07, 2017

Redoil:
how? With those dullarpos in power

Brainiac, what solutions have you proffered?

4 Likes 1 Share

Re: Dollar Crashes Again At Parallel Market by obembet(f): 8:01pm On Mar 07, 2017

As long as I remember this... I no go happy with bubu

Welcome my real active current president

Not that old fool

43 Likes 2 Shares

Re: Dollar Crashes Again At Parallel Market by ALAYORMII: 8:02pm On Mar 07, 2017

Make the thing go down and stay there jawe

1 Like

Re: Dollar Crashes Again At Parallel Market by itiswellandwell: 8:03pm On Mar 07, 2017

Good one..

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https://www.nairaland.com/3657298/low-start-up-capital-business

Re: Dollar Crashes Again At Parallel Market by Dottore: 8:03pm On Mar 07, 2017

Re: Dollar Crashes Again At Parallel Market by kpukpuyenke(m): 8:03pm On Mar 07, 2017

Those people wont like this at all

Ntooooorrrrrr

1 Like

Re: Dollar Crashes Again At Parallel Market by lirusehn(m): 8:03pm On Mar 07, 2017

for how long would they keep pumping billions into forex market? undecided

6 Likes

Re: Dollar Crashes Again At Parallel Market by Miles300: 8:03pm On Mar 07, 2017

Different xchange rates in 1 country !

5 Likes

Re: Dollar Crashes Again At Parallel Market by AlphaStyles(m): 8:05pm On Mar 07, 2017

hmm we get hope?

Re: Dollar Crashes Again At Parallel Market by gift01: 8:05pm On Mar 07, 2017*

after pumping $1 billion to make it fall from 520 to 400 box....what happens next huh

Where are your exports. Artificial pressure wont last.
.
Naira is doing like Arsenal does when the season begins....always full of hope BUT what happens later? 5-1 and stuffs like that. Don't ever forget that in Forex-as in football: Form is Temporary but Class is Permanent

14 Likes 1 Share

Re: Dollar Crashes Again At Parallel Market by stagger: 8:05pm On Mar 07, 2017

Lies, lies, lies.

If you want to buy dollars here, they are selling at N470 to N480 on the street. So where is the crash?

7 Likes 1 Share

Re: Dollar Crashes Again At Parallel Market by Raypawer(m): 8:05pm On Mar 07, 2017

Oh Jehova!

Re: Dollar Crashes Again At Parallel Market by mokoshalb(m): 8:06pm On Mar 07, 2017

Oooops! Naija freelancers now

Looking for a web developer..? check my signature...

https://49.media.tumblr.com/0c86d42a690fccc925159a662dae3142/tumblr_n51hmrNMrJ1tyrw5uo1_400.gif

8 Likes

Re: Dollar Crashes Again At Parallel Market by emi14: 8:06pm On Mar 07, 2017

Oasis007:
Slowly but surely...... Nigeria will be GREAT again!!!

Nigeria have never been great
. 1960-1966 anarchy and conflict. 1966-1967 killings, murder and assassination. 1967-1970 civil war. 1970-1979 coup d'état and counter coup murtala lost his live. 1979-1983 rebuilding . 1983-1999 coup upon coups, dictatorship and indiscriminate looting. 1999-till date, rebuilding, restructuring and fumbling. Nigeria have never experienced greatness.

44 Likes 5 Shares

Re: Dollar Crashes Again At Parallel Market by Nobody: 8:06pm On Mar 07, 2017

Let us hope the crash is sustained.

Unfortunately, the whole country is wise to the benefits of keeping foreign currency.

Before when the gains were relatively minimal, there was little interest in hoarding. ( I remember having a less than 15-20 Naira increase on dollars changed 2010-2014)

I have been struggling to find a car for a reasonable price.

SADLY, as many have noted, the inflation in price of commodities might not abate anytime soon.

3 Likes 1 Share

Re: Dollar Crashes Again At Parallel Market by TruthFM(m): 8:06pm On Mar 07, 2017

Dollar crash dollar crash but when will the price of goods and commodity crash huh

10 Likes 1 Share

Re: Dollar Crashes Again At Parallel Market by nNEOo(m): 8:06pm On Mar 07, 2017

Must I comment on everything? sad

Re: Dollar Crashes Again At Parallel Market by SlimHan(f): 8:07pm On Mar 07, 2017

Dollar crashes but no difference in the market price ( Market women still exhibit their frustration by nagging on customers who try to bargain on product price)

You still have to face problem in getting Dollars

Black market rate is still the same..

it is well

1 Like

Re: Dollar Crashes Again At Parallel Market by Martinscov(m): 8:07pm On Mar 07, 2017

Mtcheew, Crashes na aeroplane?

3 Likes

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