NewStats: 3,259,611 , 8,170,593 topics. Date: Sunday, 25 May 2025 at 05:08 PM 405520

Ashirioluwa:


What’s good about the news? Please tell me.

How many Nigerians can get dollars at the official market rate?

Most Nigerians who need dollars for one thing or the others will go to black market, and the black market rate as of this morning is almost $1500.

The western union rate is $1 to 1465 naira as of this morning.

Government officials and politicians can buy at official rate, but the general public will have to use black market to get dollars.

That's what I keep telling people. That's why rate unification (floating) was necessary. It's unfortunate that existing problems coalesced to crash the exchange rate.

DeLaRue:
The naira should stabilise around 1200 by the 3rd quarter and progressively improve to 1100 by first quarter of 2025 and so on.

The CBN should not be in a hurry to bring it down aggressively only to see it go up again.

Stability around a mid price point is better than going from extreme lows to extreme highs in quick successions.

SmartyPants:


lol. People just write without having a clue what they are talking about. Last week the MPR was raised again - this should always trigger fresh forex inflow which should then depress the USD exchange rate for a while.

Raising MPR does not automatically trigger fresh forex inflows. Where una dey learn this voodoo economics from?

So much for the touted convergence


After ruining the currency, we are back to two rates with wide disparity, just as in 2016, only this time very very worse off

Grandstar

DeLaRue:
The naira should stabilise around 1200 by the 3rd quarter and progressively improve to 1100 by first quarter of 2025 and so on.

The CBN should not be in a hurry to bring it down aggressively only to see it go up again.

Stability around a mid price point is better than going from extreme lows to extreme highs in quick successions.

One would have thought this is obvious. The rate at which naira exchanges to dollar is not really important. It's rate STABILITY that matters. There's a reason some Asian countries have artificially kept their currency's value low. Well, the CBN works for politicians, so I guess playing to the public gallery is part of their remit.

SmartyPants:


lol. People just write without having a clue what they are talking about. Last week the MPR was raised again - this should always trigger fresh forex inflow which should then depress the USD exchange rate for a while.

Most people criticize with zilch understanding of the subject matter.

JuanDeDios:

I’ll take a stable 1300/$ over any unstable lower rate. The stability is more important than the rate itself.

lionshare:


I’ll take a stable 1300/$ over any unstable lower rate. The stability is more important than the rate itself.

Blaze14k:


What tinubu is doing now clearly shows he is using Nigerians to make money. How can you tell me dollar can possibly crash with speed of light and still go back up again and you feel there nothing wrong. You guys voted in a criminal

Correct. They are the main speculators cashing out heavily from naira devalutuon.

Emu4life:
Which kind Magic be dz? From 1500+ to 1170......
Well, it's a good news.

Read it again. This is not what it said.

Ofunaofu:


You said it before and it crashed back to 1500/$

Don't get worked up on this first year anniversary abracadabra

More of signs that the loan(s) has landed.

Heffalump:
I've never seen a country like Nigeria that loves the dollars more than the Americans that own it. We adore another country's currency as if our lives depended on it, and if not we all die!

I've been to other African countries and you don't see them speak much about the dollars. Who did this to us?

They're not talking about the dollar. If you look deeply you will see they're actually talking about the value of the naira.

Trustyourself:



Do you have access to official rate

Which official rate are you talking about?

The fluctuation is not affecting prices of commodity in any ways.. make dem gettat with their nonsense policies..
I wan go buy ordinary fridge yesterday, hisense dey call price like I wan buy house..

NothingDoMe:
Raising MPR does not automatically trigger fresh forex inflows. Where una dey learn this voodoo economics from?

You know nothing at all. Just as our primitive ancestors did, that which you do not understand you ascribe to voodoo. A thoroughly bush fellow you are!



Now that your scolding is out of the way, what you need to know is that foreigners invest in our financial instruments. Now when the interest rates are raised, this triggers an uptick in such investment, called foreign portfolio investment.

Do you understand or it still sounds like voodoo to your vacuous mind?

Came too late to be used as 1yeqr anniversary score card, so was Minimum wage failed negotiation. At this rate, Abacha is looking like a good Samaritan

Lol.. I tell you. I've been to other countries as well, they don't project USD as much as us.

Heffalump:
I've never seen a country like Nigeria that loves the dollars more than the Americans that own it. We adore another country's currency as if our lives depended on it, and if not we all die!

I've been to other African countries and you don't see them speak much about the dollars. Who did this to us?

It's called Grey. Learn more about it here;

https://nairaland.unblockandhide.com/7995650/grey-solution-receiving-dollars-abroad

Peejayz:
abeg which platform is this

Paraman:
700/$ before the end of July

Story 😏😏

tunjijones:
Wonder why it keeps going up and down.

I know some people don't like this news.

I don't like this news oh i wish dollars to raise to 3k

Paraman:
700/$ before the end of July

; see dis useless CBN governor I promise you tomorrow it will be #1,315

EFCC, arrest this guy! He's one of the super P2P merchants that manipulate the exchange rate; his quote is 1429

Other small agents must not quote below super the agent quote, hence deciding what the rate should be.

Anas Adamu
Moniepoint
no: 5415135652.

Some agents who quite below Anas Adam are being tagged ineligible.

See pic below

CBN, act now and penalise moniepoint now.

This is terrible news.

The Naira's true value lies between 1,700 - 1,800 based on the current fundamentals.

If interested rates were increased to 33%, the Naira's value should rise to between 1,500-1,600.

The CBN's string Naira policy will deplete the foreign reserves

Amen

ClearFlair:


Naso

yhygajo:
If you have a million dollar to try, i might tell you so you can get in on the action

I can't tell if you are serious or Joking around.
But if you are serious, please let's talk. What's what exactly?

Paraman:
Which official rate are you talking about?

Can you get FX on the official rate?

Trustyourself:


Can you get FX on the official rate?

You shouldn't be asking this kind of question. Anybody can now get dollar at the official rate except the people who want to hoard.

If you need the dollar for you to hoard, go and buy from Aboki at 1450/$

[color=#000099][/color]

Emu4life:
Which kind Magic be dz? From 1500+ to 1170......
Well, it's a good news.

The guy dey lie! Owerri still dey sell the same thing.

Heffalump:
I've never seen a country like Nigeria that loves the dollars more than the Americans that own it. We adore another country's currency as if our lives depended on it, and if not we all die!

I've been to other African countries and you don't see them speak much about the dollars. Who did this to us?

No one talks about it like in Nigeria because there's no scarcity of it.
In Nigeria to get it to import is headache. To even pay for apps is headache, how won't we talk about it?

SmartyPants:


You know nothing at all. Just as our primitive ancestors did, that which you do not understand you ascribe to voodoo. A thoroughly bush fellow you are!



Now that your scolding is out of the way, what you need to know is that foreigners invest in our financial instruments. Now when the interest rates are raised, this triggers an uptick in such investment, called foreign portfolio investment.

Do you understand or it still sounds like voodoo to your vacuous mind?

Lmao! Invest with the current unstable currency?

Like Tinubu like ers. No wonder the Economy is in shambles. 😅

NothingDoMe:
Lmao! Invest with an unstable currency?

Like Tinubu like ers. No wonder the Economy is in shambles. 😅

Lol. Bro, sincerely you are a foolish person.

I only explained some basics to you. I have no idea why you're attacking me - would you attack your economics teacher in school because you don't like the president? Lol.

tunjijones:
Wonder why it keeps going up and down.

I know some people don't like this news.

agbado people that brought bad luck to us u mean,
because they havce bad intention