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Naira Gains Heavily Against Dollar In The Parallel Market - Education - Nairaland v4x5k

Naira Gains Heavily Against Dollar In The Parallel Market (4038 Views)

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Icceyfrosh12(m): 5:49pm On Apr 02, 2024
Naira which was at 1900 per dollar as of last week made it heavily against Dollar today and is now at 1295 as of today

Naira may fall back to 800 by June if it continues this way.

Credit: Jolin stories on Facebook

5 Likes

lordm(m): 5:58pm On Apr 02, 2024
If you have dollar please sell.
excanny: 6:39pm On Apr 02, 2024
So N5 is heavy gain?

You dey craze, walahi.

10 Likes 1 Share

Onyeka90210(m): 7:18pm On Apr 02, 2024
excanny:
So N5 is heavy gain?

You dey craze, walahi.
Be like garri don blind this one finish

6 Likes

jasent(m): 7:41pm On Apr 02, 2024
lordm:
If you have dollar please sell.
lol. Then never tell you?
Kiapk: 8:48pm On Apr 02, 2024
lordm:
If you have dollar please sell.
very very bad advise. Advise due to political sentiments.

The Naira will crash again. It sad that a slow gain of the Naira is giving you guys erection, even though ur senator Tinubu met it at a far lower rate.

I'm not an Igbo man. As a matter of fact, i don't like the igbo man as much as u do. Although it inappropriate to say i hate an entire tribe because of a few bad eggs. But i always state the obvious.

Sentiment aside, Tinubu is wrecking this country. u know it but choosed to console yourself with "we have to turn the country hard, to make it better for the future..." same fallacies since 2015

Tufiakwa

7 Likes

ForValour: 8:57pm On Apr 02, 2024
lordm:
If you have dollar please sell.
The same advice Charles gave to nigerians when he was CBN governor, then naira was about 175. We all know how the story ended

1 Like

grandstar(m): 9:07pm On Apr 02, 2024
The government should redenominate the Naira. It should remove 3 zeros.
Kelklein(m): 9:14pm On Apr 02, 2024
Before you start jumping up and down, ask yourself should dollar be more than N300..🤔🤔🤔

7 Likes

Kelklein(m): 9:21pm On Apr 02, 2024
Before you start jumping up and down, ask yourself should dollar be more than N300..🤔🤔🤔

Did you know that it is irresponsible leadership that took the dollar up..

To be very objective, the current government deserves commended for removing the multiple intermediary rates.. before now, dollar es through at least 4 different hands before reaching the BDCs, and also regulating the activities of the BDCs.. It shows a government that is 'aware', responsive and responsible.. before now, the president might not even be 'aware' that there are multiple exchange rates.. May we never experience that kind of leadership in Nigeria ever again.
Peakdesign23(f): 9:25pm On Apr 02, 2024
Dry bone shall rise again.☺️
free2ryhme: 9:29pm On Apr 02, 2024
Icceyfrosh12:
Naira which was at 1900 per dollar as of last week made it heavily against Dollar today and is now at 1295 as of today

Naira may fall back to 800 by June if it continues this way.

Credit: Jolin stories on Facebook

I went to a Gtbank today and boldly displayed electronically buying $1 @ N1200
OkCornel(m): 10:13pm On Apr 02, 2024
300 naira to the USD as promised by Jagaban.

Nothing less!

1 Like

OkCornel(m): 10:15pm On Apr 02, 2024
Kelklein:
Before you start jumping up and down, ask yourself should dollar be more than N300..🤔🤔🤔

At all o.

Jagaban promised 300 to the USD in the “short term” as of April 2023.

1 year later, sycophants want to gaslight Nigerians into celebrating 1,200 to the USD.

Interesting ain’t it?

3 Likes

Joey4321: 11:10pm On Apr 02, 2024
OkCornel:


At all o.

Jagaban promised 300 to the USD in the “short term” as of April 2023.

1 year later, sycophants want to gaslight Nigerians into celebrating 1,200 to the USD.

Interesting ain’t it?

I'm not a Tinubu fan.

But calm down.

The guy is making the right moves
OkCornel(m): 11:34pm On Apr 02, 2024
Joey4321:


I'm not a Tinubu fan.

But calm down.

The guy is making the right moves

No one held Tinubu at gun point when he made that promise. Or the one below…

3 Likes

okeke6969: 1:55am On Apr 03, 2024
excanny:
So N5 is heavy gain?

You dey craze, walahi.


Can you imagine the lunatic. Their propaganda as usual.

2 Likes

Gadafii: 5:01am On Apr 03, 2024
Imagine celebrating 5 naira gain over dollar in a country where even 100 naira can't even buy anything reasonable 😂😂🤌🤌

Until the naira is below 400/$ tinubu remains a failure, even buhari didn't fail woefully like this in his first 365 days in office

5 Likes 1 Share

Xxxxtentacion2: 6:55am On Apr 03, 2024
Paid jobbers naira that will still fall...
Roboto11: 8:01am On Apr 03, 2024
Kelklein:
Before you start jumping up and down, ask yourself should dollar be more than N300..🤔🤔🤔

What do you produce for export as an individual,?
heykims(m): 8:33am On Apr 03, 2024
Kiapk:
very very bad advise. Advise due to political sentiments.

The Naira will crash again. It sad that a slow gain of the Naira is giving you guys erection, even though ur senator Tinubu met it at a far lower rate.

I'm not an Igbo man. As a matter of fact, i don't like the igbo man as much as u do. Although it inappropriate to say i hate an entire tribe because of a few bad eggs. But i always state the obvious.

Sentiment aside, Tinubu is wrecking this country. u know it but choosed to console yourself with "we have to turn the country hard, to make it better for the future..." same fallacies since 2015

Tufiakwa
Rubbish
keymatt(m): 9:36am On Apr 03, 2024
Dem zombies will soon call this big achievement. grin grin grin the poor souls are so desperate to hype and promote their little god Tinubu as the best thing since slice bread. grin grin grin

2 Likes

keymatt(m): 9:42am On Apr 03, 2024
Kelklein:
Before you start jumping up and down, ask yourself should dollar be more than N300..🤔🤔🤔
No mind them. grin grin grin people wey insult GEJ when Nigeria's economy was like HEAVEN, suddenly want us to celebrate Tinubu under the current economic HELL. grin

1 Like

azpekuliar: 11:25am On Apr 03, 2024
Icceyfrosh12:
Naira which was at 1900 per dollar as of last week made it heavily against Dollar today and is now at 1295 as of today

Naira may fall back to 800 by June if it continues this way.

Credit: Jolin stories on Facebook

The Naira was not N1,900 last week.

1 Like

PARADIZEPRIEST: 11:28am On Apr 03, 2024
AMEN AND SO SHALL OUR NAIRA CONTINUE TO GAIN POWER OVER DOLLARS TO KILL ECONOMIC SABOTUEURS FOREVER IFSHA grin

1 Like

BreconHills(m): 1:02pm On Apr 03, 2024
Kiapk:
very very bad advise. Advise due to political sentiments.

The Naira will crash again. It sad that a slow gain of the Naira is giving you guys erection, even though ur senator Tinubu met it at a far lower rate.

I'm not an Igbo man. As a matter of fact, i don't like the igbo man as much as u do. Although it inappropriate to say i hate an entire tribe because of a few bad eggs. But i always state the obvious.

Sentiment aside, Tinubu is wrecking this country. u know it but choosed to console yourself with "we have to turn the country hard, to make it better for the future..." same fallacies since 2015

Tufiakwa

On what basis will it crash? You can't just make a statement without backing it up.

The rate you guys love to quote 650 was achieved by subsidising the market by 1.5bn every month. That has gone. The aviation and The reserves are rising daily on the back of reduction in oil subsidy and higher than expected oil prices ( thanks to Ukraine) . Naira denominated bonds are being heavily oversubscribed ( in ordinary English foreigners are using USD to buy naira) And this is just the beginning.

If you hold USD now without having USD obligation you are simply being foolish. The days of investing in the USD as an asset class without obligation are gone.

This is just the beginning.
MichaelSokoto(m): 1:23pm On Apr 03, 2024
BreconHills:


On what basis will it crash? You can't just make a statement without backing it up.

The rate you guys love to quote 650 was achieved by subsidising the market by 1.5bn every month. That has gone. The aviation and The reserves are rising daily on the back of reduction in oil subsidy and higher than expected oil prices ( thanks to Ukraine) . Naira denominated bonds are being heavily oversubscribed ( in ordinary English foreigners are using USD to buy naira) And this is just the beginning.

If you hold USD now without having USD obligation you are simply being foolish. The days of investing in the USD as an asset class without obligation are gone.

This is just the beginning.
Mr. Lecturer sir, wat was dollar to naira wen alaye took over?

Don't bother providing evidence, Jez simple explanation from u sir!

1 Like

Jeon(f): 2:37pm On Apr 03, 2024
.

3 Likes

Globad(f): 4:13pm On Apr 03, 2024
excanny:
So N5 is heavy gain?

You dey craze, walahi.

It would have been heavy if it was a loss?
BreconHills(m): 8:16pm On Apr 03, 2024
MichaelSokoto:

Mr. Lecturer sir, wat was dollar to naira wen alaye took over?

Don't bother providing evidence, Jez simple explanation from u sir!

Let reply your question since we are in the season of questions.

Let us assume that the NGN was 650 to the USD. How much was being used to maintain that price per month? Let me help you. The answer is $1.5bn. If you factor that into the rate - then the NGN was never ever 400 or 650 or whatever you all use as your holy benchmark.

Secondly, what was the speculators arbitrage? $200 that's the difference between the official rate of 450 and the black market of 650. Today that arbitrage is next to nothing.

When you factor arbitrage cost and the $1.5bn, the current rate of 1250 - 1300 is far lower than your magic abracadabra 650.

Nigeria is a far better position today than it has been in many years. Yes it's painful but you can't make
omelettes if you don't break eggs.
OkCornel(m): 9:20pm On Apr 03, 2024
BreconHills:


Let reply your question since we are in the season of questions.

Let us assume that the NGN was 650 to the USD. How much was being used to maintain that price per month? Let me help you. The answer is $1.5bn. If you factor that into the rate - then the NGN was never ever 400 or 650 or whatever you all use as your holy benchmark.

Secondly, what was the speculators arbitrage? $200 that's the difference between the official rate of 450 and the black market of 650. Today that arbitrage is next to nothing.

When you factor arbitrage cost and the $1.5bn, the current rate of 1250 - 1300 is far lower than your magic abracadabra 650.

Nigeria is a far better position today than it has been in many years. Yes it's painful but you can't make
omelettes if you don't break eggs.

300 naira to the USD in the “short term”

Jagaban - April 2023

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