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Nairaland Forum / Nairaland / General / Business / Exchange Rates In Official And Parallel Markets Converge (36487 Views)
Naira Depreciates To ₦1,300/$ In Official Market / Naira Falls At Parallel Market, Appreciates In Official Window / Naira Under-valued In Official, Parallel Forex Markets – Bismarck Rewane (2) (3) (4)
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Exchange Rates In Official And Parallel Markets Converge by Celestialsword: 9:19pm On Mar 12 |
The Exchange rates between the naira and the dollar in the official and black markets have finally converged The naira has been trading at an average rate of N1,600 per dollar in the official and parallel markets in all the markets The disparity between the two markets has narrowed to just about two per cent as Nigeria seeks to end the naira’s volatilityhttps://www.legit.ng/business-economy/economy/1582840-exchange-rates-official-parallel-market-converge-binance-exits-nigerian-market/ 11 Likes 1 Share
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Re: Exchange Rates In Official And Parallel Markets Converge by Damian911: 5:13am On Mar 13 |
It's getting crazier by the day FTC 13 Likes |
Re: Exchange Rates In Official And Parallel Markets Converge by Peakdesign23(m): 5:14am On Mar 13 |
I pray it appreciates. Although I don’t trust their judgement. 20 Likes 1 Share |
Re: Exchange Rates In Official And Parallel Markets Converge by hansomb: 5:14am On Mar 13 |
May this convergence and divergence of dollars to naira favour me and my family. 74 Likes 5 Shares |
Re: Exchange Rates In Official And Parallel Markets Converge by Epistasis(m): 5:14am On Mar 13 |
That's great. Once the disparity is closed, we can now work on making the naira stronger. 39 Likes 1 Share |
Re: Exchange Rates In Official And Parallel Markets Converge by FreeStuffsNG: 5:14am On Mar 13 |
Actually, it's now more than 9 days. Great job by the CBN and Mr President. Binance and other criminal crypto money-laundering channels must be held to account for their financial crimes committed against the nation. Mallam Ribadu and Cardoso must never leave those two Binance small fries and their collaborators within Nigeria until the identity and details of those behind the $26 billion moved through their platform last year is unveiled and all of them prosecuted. Never again must our hard-earned forex be used to defend dollars criminally manipulated on Binance and on the street to be overvalued against the naira. We were using hard-earned money that we should use to build schools, roads, electricity etc and FG still took loans to defend the naira against the dollars some unpatriotic elements and criminal foreigners were manipulating FG must hold them to account o. God bless Nigeria for ever! Check my signature for free stuffs! 80 Likes 1 Share |
Re: Exchange Rates In Official And Parallel Markets Converge by Henkeh05: 5:15am On Mar 13 |
Celestialsword: Until naira goes back to 215 per dollar, APC remains a failed party 113 Likes 4 Shares |
Re: Exchange Rates In Official And Parallel Markets Converge by sweetkev(m): 5:15am On Mar 13 |
FreeStuffsNG:Did you just say great job ? From 750 a dollar to 1,600 naira. Keep playing. 143 Likes 12 Shares |
Re: Exchange Rates In Official And Parallel Markets Converge by Raheem411: 5:15am On Mar 13 |
May God help Us |
Re: Exchange Rates In Official And Parallel Markets Converge by ELgordo(m): 5:15am On Mar 13 |
9ja how far? Ovoko |
Re: Exchange Rates In Official And Parallel Markets Converge by Meliziz: 5:16am On Mar 13 |
If you steal and went on to use the proceeds as a means to proffer goodness to humanity, it will always have the aura that stinks!, it will still stink! For the fact it was stolen it's rotten! 4 Likes |
Re: Exchange Rates In Official And Parallel Markets Converge by Pristine664: 5:16am On Mar 13 |
Henkeh05: Abacha left it around 25 per dollar. PDP took it to 10x and APC have done almost 10x too lol 21 Likes 1 Share |
Re: Exchange Rates In Official And Parallel Markets Converge by sonnie10: 5:16am On Mar 13 |
That means there is no hope for it to go back to even the #700 to $1 where he met it. 22 Likes |
Re: Exchange Rates In Official And Parallel Markets Converge by frankson1(m): 5:17am On Mar 13 |
Re: Exchange Rates In Official And Parallel Markets Converge by Richtaiwo: 5:17am On Mar 13 |
FreeStuffsNG:Enemies of Nigeria are coming for you. 12 Likes 1 Share |
Re: Exchange Rates In Official And Parallel Markets Converge by LibertyRep: 5:18am On Mar 13 |
First is to stabilise the rates and then work to lower the rates. Anything beyond #1000 to a dollar is still unacceptable. The battle hasn't been won yet. Isn't there any punishment for speculators and saboteurs, both within and outside the government that drove us to this level? 24 Likes |
Re: Exchange Rates In Official And Parallel Markets Converge by Ofunaofu: 5:18am On Mar 13 |
If Tinubu cannot improve positively on what he met on the ground when he grabbed power, he should take us back to where he met us. #700 to a dollar. Anything else is mere propaganda, deceiving himself and his gullible supporters. 35 Likes |
Re: Exchange Rates In Official And Parallel Markets Converge by aariwa(m): 5:19am On Mar 13 |
Nawao…dollar Jonathan left at less than 200n and Buhari at 600n . This is the man Agbadorians said built Lagos, is better than Peter Obi and would rebuild Nigeria but have turned out an abysmal failure worse than buhari. Tinubu have destroyed Nigeria…..everybody now knows the people who are the problem of Nigeria 27 Likes 5 Shares |
Re: Exchange Rates In Official And Parallel Markets Converge by herkeem: 5:23am On Mar 13 |
True.... Was forced to sell some dollars in my dorm account to the bank. No point going to Aboki again. 7 Likes |
Re: Exchange Rates In Official And Parallel Markets Converge by Jbleenk: 5:24am On Mar 13 |
sweetkev: Can you not understand that the fed govt use to pay a huge amount the to keep it at 750 to a $? Now this is the true value of the naira. No govt intervention no govt defense. If everyone needing to xchange naira to $ or $ to naira goes through the official window instead of black market then we can see the naira appreciating further. 33 Likes 2 Shares |
Re: Exchange Rates In Official And Parallel Markets Converge by Olabode211: 5:24am On Mar 13 |
Soo binance is richer than dangote!! Imagine $26b only in nigeria. 6 Likes 1 Share |
Re: Exchange Rates In Official And Parallel Markets Converge by BluntCrazeMan: 5:26am On Mar 13 |
Ok naa. We wait |
Re: Exchange Rates In Official And Parallel Markets Converge by Stephench: 5:27am On Mar 13 |
These people even know the meaning of all-time high and all-time low? 2 Likes 1 Share |
Re: Exchange Rates In Official And Parallel Markets Converge by Stephench: 5:30am On Mar 13 |
Jbleenk: They used to spend a lot to keep the naira low to keep life a little simple for the citizens. Now, government stopped spending that money and threw everyone into abject poverty what's the sense in that? 33 Likes 2 Shares |
Re: Exchange Rates In Official And Parallel Markets Converge by ufotunang: 5:30am On Mar 13 |
The solution is Nigeria to be a producing economy...more exportation of goods and less Importation of goods and for nigerians to value and patronize what they have in their country... It's not everytime we patronize and go for foreign goods and foreign things, foreign universities, foreign hospitals abroad for medical treatment ..and you will see that the dollars will crash and the naira appreciates and have more value against the dollars 10 Likes 1 Share |
Re: Exchange Rates In Official And Parallel Markets Converge by Ofunaofu: 5:31am On Mar 13 |
FreeStuffsNG: Did you just say great job? Who is doing a great job? It was about #700 to a dollar when Tinubu took over, and in just nine months of being in power, he crashed it to the extent that the naira was exchanging at #1950 to a dollar. Then appreciated marginally to #1600 to a dollar, and you refer to it as a great job. Honestly, Tinubu supporters are the worst set of homosapiens to have ever emerged on the surface of this planet. 33 Likes 2 Shares |
Re: Exchange Rates In Official And Parallel Markets Converge by sweetkev(m): 5:34am On Mar 13 |
Jbleenk:Keep deceiving yourself. Well I know if you don't defend the clueless government, you won't get paid. So I understand. 19 Likes 1 Share |
Re: Exchange Rates In Official And Parallel Markets Converge by mycar: 5:39am On Mar 13 |
Imagine , agbados are celebrating this economic sabotage, I thought they said that they will be selling to BDC at not more than N1300, now sometimes parallel market are even lower than official, to accumulating naira just to embezzle, if executive is not stealing, I don't think senate will be stealing too. they only raised the exchange rate to amass more money to steal. 8 Likes |
Re: Exchange Rates In Official And Parallel Markets Converge by BodyCount: 5:46am On Mar 13 |
The government is the one empowering this disparities and encouraging all these abokì bureau de change people. GOVERNMENT HAS BLOCKED ALL LEGAL CHANNELS FOR ONE TO GET FX. THE NAIRA CARD IS SO USELESS, EVEN IF YOU WANT TO BY SOMETHING OF $1 FROM ANY OF THESE FOREIGN E-COMMERCE WEBSITE OR PAY FOR A SERVICE, IT'S IMPOSSIBLE. GOVERNMENT IS RESPONSIBLE FOR DEVALUATION OF THE NAIRA. USELESS THIEVES 11 Likes |
Re: Exchange Rates In Official And Parallel Markets Converge by Forkthiefnubu: 5:48am On Mar 13 |
Ok not bad , if the naira finds its levels and fluctuate narrowly then the floating is a success 5 Likes |
Re: Exchange Rates In Official And Parallel Markets Converge by Artscollection: 5:54am On Mar 13 |
Jbleenk: Your agbado master should know there is a big difference between macro economics and tax collection. So he is saving money so as to throw more people into poverty and companies to keep declaring loss? From subsidy removal to floating of naira, he kept making mockery of himself. 8 Likes |
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