Naira Closes 1,309/$ As Banks Sell $2.5bn - Business (3)

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Naira Closes 1,309/$ As Banks Sell $2.5bn - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Closes 1,309/$ As Banks Sell $2.5bn (14602 Views)

Naira Closes 1,402/$ At Official Market As Dollar Demand Persists / Dollar Supply Rises To $11 Billion, Naira Closes 1,572/$ / Naira Weakens At Official Market, Banks Sell $584m (2) (3) (4)

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Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by IMAliyu(m): 1:17pm On Apr 01

socialmediaman:
I will commend Tinubu when he takes naira back to where he met it, and then appreciate it from there.

Naira has lost over 100% of its previous value since Tinubu took over office.

When Tinubu took over power from Buhari, naira was N460 = $1

Today, naira is at N1,300 = $1.

As a foreign investor, it means that if you invested $1 million USD in Nigeria, your investment is now worth $500,000 USD. If you borrowed that money from your US bank, you're in trouble!

The highlighted is an incomplete truth.
460 was the CBN pegged rate at the time.
Which only a few individuals had access to.
The Naira sustained trading at 700 in the parallel market at the time.

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Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by Alexis11: 1:17pm On Apr 01

socialmediaman:
I will commend Tinubu when he takes naira back to where he met it, and then appreciate it from there.

Naira has lost over 100% of its previous value since Tinubu took over office.

When Tinubu took over power from Buhari, naira was N460 = $1

Today, naira is at N1,300 = $1.

As a foreign investor, it means that if you invested $1 million USD in Nigeria, your investment is now worth $500,000 USD. If you borrowed that money from your US bank, you're in trouble!

PDP did not take dollar back to where Abacha left it. If Tinubu takes it back to 1 naira you bigots will still have something to whine about.

With or without the dollar rate Tinubu is doing well and he will complete his two terms.

3 Likes 1 Share

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by Alexis11: 1:23pm On Apr 01

oliverwrites:
It is not a case of he can't, it is a case of you wish he doesn't even though you are trying to fool us by pretending you want a better Nigeria.

They never wanted any better Nigeria bro.

They just want to be the one calling the shot and brag about it. 😂

1 Like

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by edungene7: 1:26pm On Apr 01

Donaldoni:

Don't worry we shall know who is braindead when the refineries commence production.

I said you are a clown and you are really proving it a government that has continued to lie about production commencing in the refinery infact the last time kyari was made to swear by the adoc committee in the Senate he still lied that after 2 weeks production will commence look Mr. not everyone can be fooled like you

1 Like

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by InvertedHammer: 1:42pm On Apr 01

/
On Friday they celebrated that it came down to N1250/$

Today they are celebrating that it "came down" to N1309/$ (a fall of N59/$ from Friday close)

In no distant time, they will still celebrate that it "came down" to $1500/$ (a fall of N259/$ from Friday close) cool

1 Like

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by Burruchaga71(m): 2:01pm On Apr 01

helinues:
Good.

Good for what?

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by helinues: 2:04pm On Apr 01

Burruchaga71:

Good for what?

Bad.

Happy now?

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by ValarDoharis: 2:16pm On Apr 01

Its actually worth around $400,000.

socialmediaman:
I will commend Tinubu when he takes naira back to where he met it, and then appreciate it from there.

Naira has lost over 100% of its previous value since Tinubu took over office.

When Tinubu took over power from Buhari, naira was N460 = $1

Today, naira is at N1,300 = $1.

As a foreign investor, it means that if you invested $1 million USD in Nigeria, your investment is now worth $500,000 USD. If you borrowed that money from your US bank, you're in trouble!

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by SpatialKing(m): 2:33pm On Apr 01

Idun2024:
Hehehe

Cannibals from a landlocked region of cannibalism are coming to wail again.

Everything about them is bí oò ba, o bùú lésè

Skull 💀 miner please stop making noise here

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by Alexis11: 2:37pm On Apr 01

InvertedHammer:
/
On Friday they celebrated that it came down to N1250/$

Today they are celebrating that it "came down" to N1309/$ (a fall of N59/$ from Friday close)

In no distant time, they will still celebrate that it "came down" to $1500/$ (a fall of N259/$ from Friday close)

/

The content of that article flew over your head I swear. 😂

1 Like

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by lrdval: 2:38pm On Apr 01

LIARS. DOLLAR STILL DEY 1600 in ACCESS BANK AS OF FRIDAY BEFORE EASTER. I CHECKED. WHY DO YOU WANT TO RULE THIS GOVERNMENT WITH PROPAGANDA. WHY.

1 Like

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by GeneralDae: 2:40pm On Apr 01

koning:
Falling dollar rate will not make the prices of foodstuffs come down. wetin concern tomato, fish and pepper seller with dollar.

To bring the prices of foodstuffs down the FG must crash the price of FUEL and DIESEL.

Transportation costs must be reduced drastically. And cement should revert to less than 4k a bag.

Falling dollar rate would crash the price of diesel.

1 Like

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by GeneralDae: 2:41pm On Apr 01

InvertedHammer:
/
On Friday they celebrated that it came down to N1250/$

Today they are celebrating that it "came down" to N1309/$ (a fall of N59/$ from Friday close)

In no distant time, they will still celebrate that it "came down" to $1500/$ (a fall of N259/$ from Friday close)

/

1309 is the official rate.

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by darediamond(m): 3:35pm On Apr 01

yahoodetector:
I thought it was N1200...or e don dey fall again?

If Tinubu can bring the naira below N700 where he met it after he came in...he will have my respect.

If he further brings it down to the N182 it was when Jonathan left, I would defend him anywhere with my life and become a die-hard Ronuite.

But guess what...HE CAN'T!!

You want W.H.O and I.M.F whom in there favour devalue the Naira for to Impeach Him ni?
Naira is still gonna Fall back to 2500 because Tinubu is NOT SINCERE.
Can he FIgth the USA recognized alternate Dollar? Never!!

3 Likes

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by darediamond(m): 3:40pm On Apr 01

Offpoint1:
Nigeria naira is now like NEPA like one moment up NEPA, the next moment down NEPA 😂

It'll close 1200 today, tomorrow 1400, next tomorrow 1100 and the next 1500

2500 straight!

Naira on the Bear Run Soon!!

Buy ,Buy ,Buy and Buy to keep for the incoming Bull Run.

TINUBU GANG knows what they a running in CBN. Do not be FOOLED!

But Alternate Dollar Now and Keep In Your Trust Wallet or Safepal Wallet or Gate.io or Bybit etc

2 Likes

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by darediamond(m): 3:42pm On Apr 01

Zxcvbnmghtr:

YOUR RESPECT. 😆 Naira can never go back to 700. Even Canadian Dollar to American Dollar exchange rate can't fall back to what it use to be for the Canadians. Stop thinking too local.

So why can't Tinubu reverse the Value of Naira to the issual?

Question makes knowledge. So you need to answer please.....

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by Zxcvbnmghtr: 3:45pm On Apr 01

darediamond:

So why can't Tinubu reverse the Value of Naira to the issual?

Question makes knowledge. So you need to answer please.....

The answer is already in my previous comment.

1 Like

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by darediamond(m): 3:47pm On Apr 01

xtimconsult:
Naira vs Dollars who is fighting who .

Wood (Naira) vs Gun (Dollars) which weapon kills fasting.

APC using dollar to fight dollar[i][/i]

Can All These SELF-MADE STUPIDLY STUPID Nigerians on this thread praising Tinubu and F.G.N see exactly what you SUMMARIZED?

To be wise is by choice and to be foolish and remain foolish is by choice too.

2 Likes

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by darediamond(m): 3:49pm On Apr 01

Zxcvbnmghtr:

The answer is already in my previous comment.

Is this an answer Omo Tinubu eru I.M.F Ati W.H.O??

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by tiger28: 4:29pm On Apr 01

yahoodetector:
I thought it was N1200...or e don dey fall again?

If Tinubu can bring the naira below N700 where he met it after he came in...he will have my respect.

If he further brings it down to the N182 it was when Jonathan left, I would defend him anywhere with my life and become a die-hard Ronuite.

But guess what...HE CAN'T!!

Illiterates!
Now go and check the rates in other developing Countries against most Western Currencies as well.
Even Western Countries are going thru the volatility of their Currencies. Ppl forgot the Post Pandemic inflation ALL OVER the world. Here in US we dey feel am.....Forget UK inflation, that one is worse.
So comparing World economies in 2014 to 2024 is daft!

1 Like

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by Wannabenz: 5:25pm On Apr 01

What's b t c rate to naira I want to trade

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by Donaldoni: 6:40pm On Apr 01

edungene7:
I said you are a clown and you are really proving it a government that has continued to lie about production commencing in the refinery infact the last time kyari was made to swear by the adoc committee in the Senate he still lied that after 2 weeks production will commence look Mr. not everyone can be fooled like you

Someday very soon, the refineries will kick off. That, I am very sure of.

1 Like

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by rinzaugustine: 3:04am On Apr 02

InvertedHammer:
/
On Friday they celebrated that it came down to N1250/$

Today they are celebrating that it "came down" to N1309/$ (a fall of N59/$ from Friday close)

In no distant time, they will still celebrate that it "came down" to $1500/$ (a fall of N259/$ from Friday close)

/

most of their brains are like that of a child. An average mind sees clearly that tinubu are his incompetent quacks are desperately withdrawing money from the foreign reserves to pump into the forex market with the hope that mugus will fall for the wayo and release the dollars they have so that they can leverage on that as a semblance of stability. The day they run out of dollars from foreign reserves the naira will go back to its normal of 2k or above..they even believe refineries are going to work soon 😂 something even my five year old knows APC will still use to do campaign for next elections if they are allowed to get there…major problem with typical tinubu’s Agbado follower is that of IQ as their IQ reasons less objectively than that of a child in primary school

1 Like

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by Anunakeeh: 6:24am On Apr 02

yahoodetector:
I thought it was N1200...or e don dey fall again?

If Tinubu can bring the naira below N700 where he met it after he came in...he will have my respect.

If he further brings it down to the N182 it was when Jonathan left, I would defend him anywhere with my life and become a die-hard Ronuite.

But guess what...HE CAN'T!!

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by Anunakeeh: 6:25am On Apr 02

rinzaugustine:
most of their brains are like that of a child. An average mind sees clearly that tinubu are his incompetent quacks are desperately withdrawing money from the foreign reserves to pump into the forex market with the hope that mugus will fall for the wayo and release the dollars they have so that they can leverage on that as a semblance of stability. The day they run out of dollars from foreign reserves the naira will go back to its normal of 2k or above..they even believe refineries are going to work soon 😂 something even my five year old knows APC will still use to do campaign for next elections if they are allowed to get there…major problem with typical tinubu’s Agbado follower is that of IQ as their IQ reasons less objectively than that of a child in primary school

Poor Nigerians no fit wise for this life. It's a Curse and Spell on them.

1 Like

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by Bailey11(f): 2:16pm On Apr 06

Please how were you able to get your products delivered to Nigeria from temu

yahoodetector:

I am not crying! I bought over 2k dollars when it was N1,400 plus and refused to sell when others were selling.

Instead, I kept it and now, I use it to buy some stuff from Amazon and Temu which after being shipped, I sell them at neck breaking prices way higher than what I bought which still looks cheap to most of my local clients.

The profits I make makes up for the cash I was looking up to if the dollar hits 2k plus so at the end of the day, it is a win-win situation for me.

Can't say same for you who is jobless and does nothing productive for a living other than to rant all day on Nairaland!

Re: Naira Closes 1,309/$ As Banks Sell $2.5bn by yahoodetector: 10:56am On Apr 07

Bailey11:
Please how were you able to get your products delivered to Nigeria from temu

It's a secret I am not willing to reveal cos if I do, Nigerians will get wind of it, infiltrate the system and then spoil it for me and the few who know our way round it.

Sorry!

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