The Naira recorded its first massive depreciation against the dollar at the foreign exchange market 24 hours after President Bola Ahmed Tinubu’s first anniversary.

FMDQ data showed that the Naira depreciated to N1484.75 against the Dollar on Thursday from N1329.65 on Wednesday.

This represents an N155.1 loss against the dollar compared to N1329.65 traded on Wednesday.

Similarly, at the parallel market section the depreciated to N1490 per dollar on Thursday from N1480 the previous day.

The development comes as the turnover of foreign exchange transactions dropped to $235.41 million on Thursday from $328 million on Tuesday.

Accordingly, the last time the Nadepreciatedated at both official and parallel foreign exchange markets was on May 23, 2024, when the Central Bank of Nigeria announced fresh guidelines to Bureau De Change operators.

Since mid-April, the Naira has continued to fluctuate against the dollar at the forex market despite CBN interventions.

Olayemi Cardoso, the governor of CBN at the last 295th Monetary Policy Committee blamed the volatility on seasonal fluctuations.

The governor of the Central Bank of Nigeria, Olayemi Cardoso, said that the apex bank has not revoked the licenses of Moniepoint, Opay, and other fintech.

https://dailypost.ng/2024/05/30/naira-crashes-massively-against-dollar-24-hours-after-tinubus-anniversary/

Nigeria is a scam

Why the daily update on currency fluctuation?

Shameless government, see the nonsense they are celebrating..

What a useless and foolish sets of people we have today in government.

How much is bag of garri and rice in the market today ?

Tinubu is worse than buhari obviously

God1000:
Why the daily update on the currency fluctuation?

Why not, if not?

God1000:
Why the daily update on the currency fluctuation?

Their own is not even update per se. They only report when things are not going well

Economic incompetency and cluelessness of a balabloo-blu-bulava tinubulation government.

Validated:

Why not, if not?

Has prices of goods and commodities come down? Celebrating naira/dollar rise and fall like person wey dey shout up NEPA. Alaye nobody gives a hoot whether dollar or naira falls. As long as prices of things are the same your naira/dollar holds no value.

Seems this is deliberate

God1000:
Why the daily update on the currency fluctuation?

yeroba Muslim the hamas sympathizer
God bless Isreal
hiohiohiohiohio

Irresponsible government distabilizing people's businesses with unstable forex .even buhari in all his cluelessness did better than this
We all know the news about dollar crashing was may 29th propaganda.

Validated:

Why not, if not?

Always addressing issues with sentiment. It's on this same platform we get news of naira appreciation.

thesicilian:

Their own is not even update per se. They only report when things are not going well

Nobody is stopping you from reporting when things are going well

OkpaNsukkaisBae:



Nobody is stopping you from reporting when things are going well

Guilty conscience

thesicilian:

Guilty conscience

You will not die if you report the good news

OkpaNsukkaisBae:



You will not die if you report the good news

Alright I accept.
I'll keep reporting good news while you keep reporting bad news.

thesicilian
Their own is not even update per se. They only report when things are not going well [/quote]

When has things ever gone right with this present administration? This government is the worst.

Solofresh2:
Seems this is deliberate

Deliberate by the Tinubu calamitous administration

IkeIgboNiile:
thesicilian
Their own is not even update per se. They only report when things are not going well

When has things ever gone right with this present administration? This government is the worst.

You see what you look for

thesicilian
You see what you look for

What do you see? Please tell me, i want to know.

God1000:
Why the daily update on the currency fluctuation?

.
It's not out of place.,bro.

Tinubu 8 years no shaking

I sense the true exchange range of the Naira is between 1,500-1,800 based on the current fundamentals.

I feel at 1,800, all the turbulence and volatility will end.

Can you please tell us why we don't need a daily update on our economy, currency etc... Please, we really would love to know why we would not need a daily update.
If you would prefer a yearly update, please state your reasons.
Thank You.

God1000:
Why the daily update on the currency fluctuation?

Oya, let's share it.. You kukuma be reporting the things that are going well in the country because that's all we want for this beautiful country

thesicilian:

Their own is not even update per se. They only report when things are not going well

Nigeria is a scam

The era of having one fix FX rate is over, it is now subject to demand and supply.

Same with fuel prices.

Una don collect another loan?

T - is for Truly
I - is for Ineffectual
N - is for Nonentity
U - is for Usurper
B - is for Buffon
U - is for Unleashed

Ok

Economics of Balabalu.

Forget it. As long as 1 Agbado = 1 USD.

America can kiss our black .... you know