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Nairaland Forum / Nairaland / General / Business / Naira Plunges To N472/$ As Forex Scarcity Worsens (25623 Views)
Naira Plunges To N1,900, Rebounds To N1,354 Then Dips To N1,700/$ / FOREX Crisis: Naira Plunges To 1,025/$, Job Losses, Factory Shutdown Loom / Naira Plunges To N575 To A Dollar Two Days After Aboki FX Update Suspension (2) (3) (4)
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Naira Plunges To N472/$ As Forex Scarcity Worsens by dre11(m): 7:39am On Jul 29, 2020 |
The naira on Tuesday traded at N472 to a dollar at the parallel market as foreign exchange scarcity persisted. https://punchng.com/naira-plunges-to-n472-as-forex-scarcity-worsens/ 10 Likes 3 Shares
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Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by phr33man(m): 8:02am On Jul 29, 2020 |
Could massive purchase of crypto be the cause? I think yes. 14 Likes 1 Share |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by SmartPolician: 8:46am On Jul 29, 2020 |
I sold mine for N460 on Tuesday though That aboki don cheat me 38 Likes 3 Shares |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by kingphilip(m): 9:08am On Jul 29, 2020 |
The man that claimed he'll use the magic wand to make it $1 is still president though and still have over two years. So let's hope it doesn't get to N1,000/- before he leaves power 159 Likes 9 Shares |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by RealEzee(m): 9:18am On Jul 29, 2020 |
kingphilip:Abeg increase volume make them hear for back ooooo, all those Harry Potter people ranting $1 to #1 that year 147 Likes 8 Shares |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by okeyglm: 9:35am On Jul 29, 2020 |
it's 475 38 Likes 2 Shares |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by Ishilove: 9:39am On Jul 29, 2020 |
“Respondent firms expect the naira to depreciate in the current month, next month, next two monthsSo who bears the brunt of four months of free fall? What a country! 13 Likes |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by 400bitcoins: 10:04am On Jul 29, 2020 |
phr33man:haba!! Haba how many bank users are into cryptocurrency? Besides they have limited spending to 500$ monthly. Some banks 200$ monthly. 1 Like |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by phr33man(m): 11:18am On Jul 29, 2020 |
400bitcoins: Imagine the number of people purchasing crypto daily which is valued in dollars. Imagine the immense wealth leaving our country daily. What do you think attributed to the continues rise in the value of bitcoin and other crypto if not the demand? To many Nigerians and world at large today, the surest and quickest way to financial freedom is crypto. Monthly limit isn't the issue but the population diving into it. As at today, I'm 95% sure that 15m people has at least a few dollars worth of bitcoin or any other crypto. If we assume each has $10 crypto worth, that whooping $150m gone to western world and this grows daily. My view... The western world are exploiting us big time now than ever. They tried to find an explanation to this crypto thing but the more you study, the more confused you are. They say it's decentralized but someone/some sets of people started it. Hmmmmmm.... Shey this thing no be ponzi like this? Do you still remember egold, ebullion etc. Where are they today? We need to think deep.... And wake up in Africa 41 Likes 4 Shares |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by sodiqapril(m): 11:42am On Jul 29, 2020 |
H 1 Like |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by Nobody: 11:42am On Jul 29, 2020 |
Q |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by chinavs9ja(m): 11:43am On Jul 29, 2020 |
Who remembered the promise that $1 will be back to N199? Check my signature if you want a professional website designer and developer 6 Likes |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by anonimi: 11:44am On Jul 29, 2020 |
popsy2: With El Incompetento back in charge, no surprise. www.nairaland.com/attachments/2095210_worst_jpeg588f192a23aa02a7b350a8bbe5d18306 5 Likes 2 Shares |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by Calabar1stSon: 11:44am On Jul 29, 2020 |
Mr CBN and Mr Intergrity abeg I need part of those audio dollars una spend on FX intervention since una two enter office! I'm a Nigerian too abeg! I hate cheating..! 12 Likes 3 Shares
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Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by Pr0cter: 11:45am On Jul 29, 2020 |
Na wa oo 1 Like |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by Johntemmy(m): 11:45am On Jul 29, 2020 |
All is well. Good morning everyone. contact me for your painting and wood work for your roofing.call or Whatsapp on 07060795767 |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by blessedchild234(m): 11:45am On Jul 29, 2020 |
Meanwhile people are making money out of same forex. |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by OkhaiAsein(m): 11:45am On Jul 29, 2020 |
nawa o.. . meanwhile I'll design a brand logo and flyers for your business for just 3k |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by Jh0wsef(m): 11:46am On Jul 29, 2020 |
Kai |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by mayskit4luv(m): 11:46am On Jul 29, 2020 |
Dooms day looming |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by adonainana: 11:46am On Jul 29, 2020 |
No wonder Bitcoin trading websites are flying and opening up left right centre. I have been buying and selling bitcoin for some years now and i can tell this month alone, my phone no dey rest from Nigerians trying to buy bitcoin. For those of you who read the article above and you heard for the next 2 months naira will depreciate and you are still not trying to convert all your money into cypto currencies. Then i pity you. Please if you are a web developer and you can create all those automated websites which allow users to either sell and buy bitcoin without any human input, please get at me, i will pay any price. I have more quite a lot of BTC to sell Also to the buyer who scammed me after i sent bitcoin in advance to him https://www.nairaland.com/5984839/scam-alert-please-avoid-bitcoin God will still punish you ooo still Please web developers help me 6 Likes 1 Share |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by newheart2(m): 11:46am On Jul 29, 2020 |
Why Buhari administration always like this |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by Fmghewzy(m): 11:46am On Jul 29, 2020 |
I am tired if this bullshit ooo,even Ghana currency better pass our own .chaii 5 Likes |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by babapressy(m): 11:46am On Jul 29, 2020 |
Waoo |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by funmike83(f): 11:46am On Jul 29, 2020 |
everything is just collapsing under this man . may God spare our lives beyond 2023. APC HAS FINALLY RUIINED NIGERIA 1 Like |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by Kennyfancy(m): 11:47am On Jul 29, 2020 |
Bitcoin play its own part |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by obi4eze(m): 11:47am On Jul 29, 2020 |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by TalkTalkTwins(m): 11:47am On Jul 29, 2020 |
Ok |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by SmartPolician: 11:47am On Jul 29, 2020 |
kingphilip: The best thing that ever happened to non-Buhari supporters was that Buhari finally became president. If Jonathan was still president, Nigeria would have been on fire with many APC minions saying that Buhari would have turned Nigeria to Dubai by now. Truth be told, leadership is tough. To make matters worse, Nigerians don't understand what leadership is at all. "The exchange rate was N440/$ in the parallel market in June, and operators have continued to demand for the immediate unification of the multiple exchange rates in the country." Meanwhile, the day a northern president will do the emboldened, he will run his people out of business. So, it's probably not going to happen anytime soon. 24 Likes 3 Shares |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by Naijasurveys(f): 11:48am On Jul 29, 2020 |
I hope we as a country do not go from recession to depression. If you experienced loss of smell or taste or both between Jan & June this year and you live in Nigeria, kindly check on my signature 1 Like |
Re: Naira Plunges To N472/$ As Forex Scarcity Worsens by anonimi: 11:48am On Jul 29, 2020 |
okeyglm: It is better than what it was in February 2017. Let me speak like an Association of Past Criminals, APC zonebee. www.nairaland.com/attachments/3431120_cdatausersdefappsappdatainternetexplorertempsavedimages3420191picsart1455886204785jpeg503a9ea978cee321112203705090d494_jpeg42f7ff794fb9c526b6223de620a8596b www.nairaland.com/attachments/4780865_img20170115wa0000_jpeg1d8e7567925b3c58ce06da5797c6a05a [img]https://3.bp..com/-0_tKBcldQyw/WJxU2qTEXsI/AAAAAAAEvwM/ZUiOO0LdZlM7vGCwcBcsDsAIe00oAO23ACLcB/s1600/photostudio_1486638555627.jpg[/img] 11 Likes |
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