The Naira yesterday depreciated to N1,305 per dollar in the parallel market, from N1,255 per dollar on Tuesday.

Similarly, the Naira depreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,308.52 per dollar.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,308.52 per dollar from N1,300.15 per dollar on Tuesday, indicating N8.37 depreciation for the naira.

Consequently, the margin between the parallel market and NAFEM rates narrowed to N3.52 per dollar from N45.15 per dollar the previous day.

Source: https://www.vanguardngr.com/2024/04/naira-depreciates-to-n1305-in-parallel-market/

This Is Too Much, How Mr Blogger Go Buy Am?

Donald7610:
Cardoso magic wand don break

I'm Still Speechless 😶

so many are very happy now

the resultant effect of poor economic planning

It will appreciate back to 950 before ending of next month.

OmihaniFARH:
It will appreciate back to 950 before ending of next month.

I hope so but I don’t understand what is going on. Yesterday they sold it at 1,021 to BDC. So what’s going on?

Nlfpmod

they should stop using our reserve to stabilizer Naira.


this problem can be solved within 2 years if we pay attention to agriculture.

The government should disburse grants to farmers nationwide and setup committee to monitor the grant beneficiaries.

by next harvest, food will be plentiful and their will be food surplus.

How some hopeless and useless vagabonds that claim to love Nigeria while supporting the dumbest to rule over it was supposed to be a suprise to me but I always remember why they are called zombies. They blame binace, bet9ja and the aboki next street for damaging Nigeria as if those people only started operation few weeks ago just to tarnish the already battered Tinubu's image while they pray for Tinubu,Akpabio and Gandollar to succeed.
Timbom Timbom government. The only thing They are good in is stealing carelessly.
Koni da fun supporters of this evil government.

Hurrayyyyyyyyy!!!!

It's unfortunate.
A sand castle built at the beach is never reliable

The end is near.

I have said it before and I'm saying it again....


Any dollar intervention or monetary policy from the CBN that does not make this current crop of politicians in power to fight or oppose the CBN is most likely not effective....

Some people think the problem of dollar is because of Binance and BDC's, those are secondary issues, the politicians are the biggest spoilers of the naira, if a single governor is using almost 1 million dollars to pay for only one of his children's school fees, then imagine other expenses being run from his type right from the presidency down to councilors...

These guys are the biggest moppers of dollars in Nigeria and all because of the corruption that Tinubu is not ready to fight because he is also involved....

jkpbestseries:
so many are very happy now

Yes o I am so happy.

Hehehe

E lo fi Okan bale

It's coming down.

A ma gbe wale

The enemies and emergency lovers of the zoo will never have any reason to rejoice

This man called cardaso has destroyed the naira.

Is this not how volatile cryptocurrency is? How can you turn your main currency into cryptocurrency?

How can anyone do business with such an unstable currency?

OmihaniFARH:
It will appreciate back to 950 before ending of next month.

dey play, why next month end

jkpbestseries:
so many are very happy now

No I should kill myself because you and your government have destroyed Nigeria.🙄🙄

obiekunie01:
they should stop using our reserve to stabilizer Naira.


this problem can be solved within 2 years if we pay attention to agriculture.

The government should disburse grants to farmers nationwide and setup committee to monitor the grant beneficiaries.

by next harvest, food will be plentiful and their will be food surplus.

What benefits is the reserve o? Dont Nigeria generate forex again from crude oil sales?

money no dey to patch am again

Pullback exhausted

Time to Short 😁😁😁

This drop is not reflecting on money transfer apps because the government has blocked online forex transactions. If not for that, the drop would have been worse by now.

Dynamicboss:


I hope so but I don’t understand what is going on. Yesterday they sold it at 1,021 to BDC. So what’s going on?

No amount of CBN intervention can save the naira from market forces. The demand for the dollar will always be higher than the supply until we as a country can earn enough dollars

Hmmmmm

Our fx is clearly being looted by Tinubu and his surrogates and that's the fact.

So don't let theives fool us while they are robbing us. That's a double tragedy.

When thieves and terrorists come together to form a political party to take power by hook or crook, and we think they will offer anything good? Let's be real

It must return to where APC accused GEJ administration. Bunch of evil people. They just came and took away the comfort Nigerians were enjoying.