Naira Down To N1,505/$ In Parallel Market - Business

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Naira Down To N1,505/$ In Parallel Market - Business - Nairaland

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Naira Down To N1,505/$ In Parallel Market by ogododo: 8:01am On Jun 25

The Naira yesterday depreciated in the parallel market to N1,505 per dollar from N1,495 per dollar last weekend. Similarly, the Naira depreciated to N1,490.2 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,490.2 per dollar from N1,485.53 per dollar last weekend, indicating N4.67 depreciation for the naira. The volume of dollars traded (turnover) in the market fell by 21.4 per cent to $152 million from $193.5 million traded last week Friday.

I

Consequently, the margin between the parallel market and NAFEM rates widened to N14.8 per dollar from N9.47 per dollar last weekend.

https://www.vanguardngr.com/2024/06/naira-down-to-n1505-in-parallel-market/

2 Likes 1 Share

Re: Naira Down To N1,505/$ In Parallel Market by Bobloco: 8:03am On Jun 25

I am still waiting endlessly when the naira will exchange below #1000 for a dollar, as was promised by the BATerians.

I hope I will not be labeled as being bitter, a hater, and an enemy of progress because my candidate lost for being hopeful and optimistic about the naira appreciating and exchanging below #1000 for a dollar.

82 Likes 3 Shares

Re: Naira Down To N1,505/$ In Parallel Market by komzy589(m): 8:18am On Jun 25

And I wanted to change dollar on Wednesday.
Mr Tinubu, abi make I wait?🤔

2 Likes

Re: Naira Down To N1,505/$ In Parallel Market by Skydivine: 8:18am On Jun 25

Tor!

Re: Naira Down To N1,505/$ In Parallel Market by phoneport(m): 8:18am On Jun 25

Agbado economics grin

Tinubu built Lagos people where una dey

E nor fit build naira cool

60 Likes 3 Shares

Re: Naira Down To N1,505/$ In Parallel Market by ZUKKYY(m): 8:18am On Jun 25

Bobloco:
I am still waiting endlessly when the naira will exchange below #1000 for a dollar, as was promised by the BATerians.

I hope I will not be labeled as being bitter, a hater, and an enemy of progress because my candidate lost for being hopeful and optimistic about the naira appreciating and exchanging below #1000 for a dollar.

those enemies of this country will come for you and say you're Igbo

48 Likes 2 Shares

Re: Naira Down To N1,505/$ In Parallel Market by Freelancer007(m): 8:18am On Jun 25

Re: Naira Down To N1,505/$ In Parallel Market by komzy589(m): 8:18am On Jun 25

Foreign reserve cannot come to the rescue again?

1 Like

Re: Naira Down To N1,505/$ In Parallel Market by OkCornel(m): 8:18am On Jun 25

Clears throat.

I just want to remind us that in April 2023, Tinubu promised Nigerians that the naira will exchange for 300 to the USD in the “short term”.

This is June 2024.

33 Likes 1 Share

Re: Naira Down To N1,505/$ In Parallel Market by DagashSamson: 8:18am On Jun 25

For an import dependent economy its not surprising.

They kept deceiving gullible Nigerians that Dangote refinery will change the dynamics. Dangote is selling Jet A1, diesel into Nigeria market at the moment, and will soon start selling petrol yet we are still where we are.
Naira depreciation is a result of high import and corruption driven demand. Majority of Nigerians are battling to survive, but the few in government loot so much and convert to dollars. This and import are the majore reasons driving naira depreciation.
The political class is largely responsible for where we are as a country.

16 Likes 1 Share

Re: Naira Down To N1,505/$ In Parallel Market by Kobojunkie: 8:18am On Jun 25

ogododo:
https://www.vanguardngr.com/2024/06/naira-down-to-n1505-in-parallel-market/

Down ke? The naira has been hovering around $1500 for the past month or two. Where is this news coming from? undecided

2 Likes 1 Share

Re: Naira Down To N1,505/$ In Parallel Market by Semizy: 8:18am On Jun 25

Where are we going to

Re: Naira Down To N1,505/$ In Parallel Market by omoredia: 8:18am On Jun 25

when Nigerians become wiser (im not talking of our worthless certificates now) the leaders will become better. simple as that.

18 Likes

Re: Naira Down To N1,505/$ In Parallel Market by Thewrath(m): 8:19am On Jun 25

It’s “favoring” some lunatics and their families”

13 Likes

Re: Naira Down To N1,505/$ In Parallel Market by SpaceX: 8:19am On Jun 25

Tinomics is working all he needs is more time to end the Nation Tigeria.

11 Likes

Re: Naira Down To N1,505/$ In Parallel Market by Smartcitizen: 8:20am On Jun 25

Chai!

GRADUALLY THEY WILL GET TIRED OF PROPAGANDA AND BY THAT TIME, NA
PUBLIC BEATING GO FOLLOW.

5 Likes 1 Share

Re: Naira Down To N1,505/$ In Parallel Market by Sergio103(m): 8:21am On Jun 25

Find a way to be earning in dollar

Especially the students here.

Yahoo will never stop with this trend

Nigeria is messed up

7 Likes 1 Share

Re: Naira Down To N1,505/$ In Parallel Market by Racoon(m): 8:21am On Jun 25

Reality is still getting clear. Balabloo-blu-bulava drug baron economy.

2 Likes

Re: Naira Down To N1,505/$ In Parallel Market by gratiaeo(m): 8:22am On Jun 25

Tinubu the worst thing that happened to Nigeria after Buhari

8 Likes

Re: Naira Down To N1,505/$ In Parallel Market by Ojuntana: 8:22am On Jun 25

Meeehn

Tinubulation is real

Bobloco:
I am still waiting endlessly when the naira will exchange below #1000 for a dollar, as was promised by the BATerians.

I hope I will not be labeled as being bitter, a hater, and an enemy of progress because my candidate lost for being hopeful and optimistic about the naira appreciating and exchanging below #1000 for a dollar.

They have quietly discarded those predictions of third quarter or 1st quarter 2024. I remember the phrase "fair value" from Messrs grandstar and Legendhero last year. They bombarded everyone with how naira will stabilise at 800 per dollar. Today they have all gone mute and there's no talk of fair value anymore.
Can anyone check if the naira is still floating in these troubled waters?

12 Likes

Re: Naira Down To N1,505/$ In Parallel Market by uchwar1: 8:23am On Jun 25

Pls ooo they should leave our foreign reserve to breath this time around. The last abracadabra didn't work

1 Like

Re: Naira Down To N1,505/$ In Parallel Market by Jahwinaboy(m): 8:23am On Jun 25

Na wa o

Re: Naira Down To N1,505/$ In Parallel Market by davidtemi(m): 8:23am On Jun 25

I shake my head

1 Like

Re: Naira Down To N1,505/$ In Parallel Market by Riskymarvelous(m): 8:24am On Jun 25

Exchange rate will stay there unless we vote out APC

1 Like

Re: Naira Down To N1,505/$ In Parallel Market by Cj4charles(m): 8:24am On Jun 25

First class in fake Accounting no be una mate😁🤣

6 Likes

Re: Naira Down To N1,505/$ In Parallel Market by ibabz(m): 8:24am On Jun 25

Bobloco:
I am still waiting endlessly when the naira will exchange below #1000 for a dollar, as was promised by the BATerians.

I hope I will not be labeled as being bitter, a hater, and an enemy of progress because my candidate lost for being hopeful and optimistic about the naira appreciating and exchanging below #1000 for a dollar.

only fools like BATerians do the same thing repeatedly and expect different result. I thought they said that Binance caused the free fall of Naira, I wonder what their next excuse would be. bunch of idiots

11 Likes

Re: Naira Down To N1,505/$ In Parallel Market by EyeCumInPiss: 8:25am On Jun 25

No wahala.
The Coastal Highway will bring foreign investors.
The new abi old national anthem with help cure hunger.
And daddy GO don talk am, one dollar will soon equal ₦1

Fellow Nigerians, happy Tinubulation. grin

11 Likes

Re: Naira Down To N1,505/$ In Parallel Market by Streetdoctor: 8:28am On Jun 25

I HV observed that his online warrior are no longer commenting again, about Dem dun stop paying their stipend? D likes of maldridguy dun make uturn

4 Likes

Re: Naira Down To N1,505/$ In Parallel Market by hisgrace090: 8:29am On Jun 25

The destructive fire continues.

Re: Naira Down To N1,505/$ In Parallel Market by Lithiumite: 8:29am On Jun 25

Riskymarvelous:
Exchange rate will stay there unless we vote out APC

What would your any other party do better......in normal climes,this should discourage imports there by leading to more local production and encourage export......but we are having complex problems in Nigeria.

Re: Naira Down To N1,505/$ In Parallel Market by Inspirer1: 8:30am On Jun 25

We shall overcome.

Re: Naira Down To N1,505/$ In Parallel Market by Kingrshd3: 8:30am On Jun 25

It's even better and I can't wait for it to become 2000 per dollar so we can stop importation by all means and try to produce what we want to use and consume and also consume what we produce in vice versa

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