NewStats: 3,263,973 , 8,182,117 topics. Date: Monday, 09 June 2025 at 06:31 AM q1e3b

The naira traded at a loss at the official market, depreciating to N1,402 against the United States dollar on Thursday.

According to data from the FMDQ exchange securities, the naira dropped by N12 or 0.86 per cent from the N1,390 recorded at the close of trading activity on Tuesday.

There was no trading activity on Wednesday due to the Worker’s Day celebration.

At the Nigerian Autonomous Foreign Exchange Market, the intraday high closed at N1,445 on Thursday weaker than N1,450 on Tuesday. The intraday low also depreciated to N1,299 on Thursday as against N1,200 on Tuesday.

Dollars supply at NAFEX appreciated by 3.1 per cent or $7m to $232 on Thursday from $225.36m recorded on Tuesday.

The naira had depreciated following a renews demand for the greenback at both the official and parallel market.

Based on data from the FMDQ official trading platform, the naira gained N28.15 on the final trading day of April, settling at N1,390.96/$ as against N1,419/$ on April 29.

The positive trend was also reflected in trading volumes, with a 52.45 per cent surge in forex turnover, reaching $225.36m, up from the prior volume of $147.83m.

Similarly, Bureau De Change operators said the naira recorded a reduction in value at the parallel market on Thursday.

Abubakar Yahu, a BDC operator in Wuse 2, Abuja, said traders bought the dollar at N1,310 and sold at N1,360 leaving a profit margin of N50.

He said the dollar was rising marginally due to constant demand but not at the same rate when the naira slid to N1,900 two months ago.

He said, “The naira depreciated today. We sell at N1,360 per dollar and we buy from customers at N1,310 depending on how you bargain. But we are expecting that the rate will drop tomorrow. Demand is still coming, it is not like before but it is still high.”

Another currency trader, Ibrahim Isa, in Ikeja, Lagos, confirmed the rate while reiterating that the government must stabilise the naira for a long period.

“The market is moving slightly but it will be better if we can stay on a particular amount and stabilise the economy.”

https://punchng.com/naira-closes-1402-at-official-market-as-dollar-demand-persists/

slowly but steadily, e don dey rise again. God help Nigeria ooo. God abeg

Until we become a producing economy.... nothing done to the value of dollars will be sustainable. You can't build something on nothing

Are we to sell or keep our dollars?

ForValour:
Are we to sell or keep our dollars?

Keep. The FG is unserious catering only for the elites so far

ForValour:
Are we to sell or keep our dollars?

Like Aisha talk am, keep ya dollar.

ogododo:

Like Aisha talk am, keep ya dollar.

This olodo is confused, today, he'd bring the official rate, tommorrow, he'd bring the parrallel rate, depending on what suits his narratives. Whenever naira gains, he would run under his bed, you won't see him open thread.

Softly softily to N2000

Over to you NPAWARIANS

PressMyButton:

This olodo is confused, today, he'd bring the official rate, tommorrow, he'd bring the parrallel rate, depending on what suits his narratives. Whenever naira gains, he would run under his bed, you won't see him open thread.

When u finish ya foolishness finish u go get sense. No be una dey celebrate say parallel dey cheaper dan official few days ago. Born throwwey.

Go for production, una say let's continue to be an import - dependent economy. This is putting pressure on the dollar.

Toh

Racoon:
Go for production, una say let's continue to be an import - dependent economy. This is putting pressure on the dollar.

The empowerment been done by this government is consumption bah?

Why was some of our borders closed for years? For more importation?

There are several factors that determine the exchange rate, demands and supply is one of the major factor

Where are those people that criticized Aisha yesufu for her honest advice of holding unto your dollars? Where are the people that said Tinubu is better than Obi? How market? Tinubu is finished. He has shown dollar speculators how to make billions overnight ie when you see him borrow money sell off your dollars when it gets down to close to 1k naira buy low from the dip and store for coming weeks. Rinse and repeat and you will comfortably build at least 50 houses before December courtesy of the incompetent emilokan fool

helinues:


The empowerment been done by this government is consumption bah?

Why was some of our borders closed for years? For more importation?

There are several factors that determine the exchange rate, demands and supply is one of the major factor

Anoda lamba defender.

PressMyButton:

This olodo is confused, today, he'd bring the official rate, tommorrow, he'd bring the parrallel rate, depending on what suits his narratives. Whenever naira gains, he would run under his bed, you won't see him open thread.

As she's posting naira fall, u post naira rise. Is it too hard for you to do? Even your Idiotic Reno Don de chop naira humble pie. Knowing that naira is irredeemable against the dollars.

Economics no no propaganda

Yes o. Obi wanted to run Nigeria like a business that will be attractive for the whole world to buy into . It took him years to study the problems of why Nigeria refused to work and possible solutions and the reason millions of us were awed during his interviews on arise tv and every fora that was open to him including Chatham house but Tinubu never addressed Nigeria for one day on how to tackle the economic challenges facing the country except for the bulaba, garaga, emilokan gutter statements. He stole the election and today he is stuck and doesn’t know what to do anymore

Dollars hoarding has started again! Nigerians!!

Kewtt:
Until we become a producing economy.... nothing done to the value of dollars will be sustainable. You can't build something on nothing

Many Nigerians are saboteurs, you have to agree to that. Saboteurs in the sense that many Nigerians are simply buying dollars to keep in order to sell later and make profit, simple as that. Pure currency speculation which is harmful to our local currency and economy.
You even see popular and famous people online encouraging Nigerians to engage in currency speculation. Even teenagers on the streets are buying as low as few dollars for the purpose of speculation.
Nigeria placed ban on whole 41 items from importation under Buhari and it is still in effect till today.

someone went and removed Subsidy and start paying for it again with higher price


someone went and float naira and start defending it again at higher price


that person is the iragbijii fraud

maasoap:
Dollars hoarding has started again! Nigerians!!

You don't know anything about economics. The value of a currency isn't determined by the amount of $$ in the country. How many Pounds and Euro do we have circulating? Is Naira not falling against them? Go to countries whose currency are doing well against the dollar and you'd be surprised you won't see dollar circulating there so hoarding has nothing to do with this.

We must start producing and exporting.

Softly softily to N2000

Nlfpmod.

helinues:
Toh

Toh ko, hot nii

There will always be increasing demand.

We don't have positive Balance of Trade. And this will continue to decline. Any rookie economist will know this.
"When a big problem slams you to the ground, small problems will start climbing on you"
If we have a strong currency in the first place, all these chasing BDC, Aboki or Crypto platforms won't be necessary - they are the small problems.
It's annoying how our leaders don't have the sense to work out create value with our vast natural and human resources instead of chasing foreign investments up and down. Nobody is father Christmas!

why won't dollar demands persist while the likes of That's Bello and Ododo are busy sourcing for dollars to bribe judges

Naira should fall since prices of foodstuff and other things didn’t go down. Many people are remote workers in Nigeria who earns in dollars. It’s not fair on them if the naira rises but the prices of foodstuffs, fuel, and other things keeps increasing.

Very useless country

Before now I doubted that naija was a zoo, but as it stands now, yes naija is actually a zoo

Chai...

Hmm