Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,166,071 members, 7,863,783 topics. Date: Tuesday, 18 June 2024 at 06:11 AM |
Nairaland Forum / Nairaland / General / Politics / Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas (542 Views)
External Reserves Fall By $1.8bn In 10 Weeks / Naira Jumps To 8-month High Of 1,120/$ As Dollars Flood Black Market / External Reserves Slides To 27 Months Low (2) (3) (4)
Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by ogododo: 7:34pm On May 13 |
The declining fortunes of the Naira persisted on Monday, with further depreciation in the parallel market to 1,515 to a dollar. This represents a 2.97 percent (N45/$1) depreciation when compared to the exchange rate of N1,470 on Friday. The decline occurred despite Nigeria’s external reserves increasing marginally by 0.4 percent week on week to a four-week high of $32.4 billion as of May 8, 2024, BusinessDay reports. Dollar sales to BDCs In a bid to intervene in the retail segment of the forex market, the CBN in February resumed dollar sales to BDCs. Since then the apex bank has held three editions of the dollar. At the last edition, the CBN offered to sell $10,000 per BDCs at directing them to sell at the maximum margin of 1.5 per cent. BDC operators however complained dollar disbursement from CBN is too slow that and takes three to four weeks between when they make payment and when the dollars are disbursed to them. Vanguard reliably gathered that as a result of this delay and the uncertainty in the forex market, some BDCs, have asked the CBN to refund their Naira payment. https://www.vanguardngr.com/2024/05/naira-depreciates-further-against-dollar-to-1515-as-external-reserves-increase/ |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by Splashme: 7:46pm On May 13 |
Terrible 1 Like |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by SoNature(m): 7:57pm On May 13 |
Uncle Cardoso, it's time to empty our foreign reserves to subsidize the naira. In this life, you cannot give what you don't have. 2 Likes |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by Racoon(m): 8:03pm On May 13 |
It's simple logic. They stopped subsidising the dollar with the foreign reserves, then the naira takes a nosedive again. Now let's see who the clueless government and its hoardes of deathbeat zombies will blame. Why is Reno Omokri yet to tweet about this propaganda gone wrong again. 4 Likes |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by DMerciful(m): 8:07pm On May 13 |
Tinubu show workings or get out! 1 Like |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by Putinofrussia: 8:11pm On May 13 |
Naira will appreciate this week. Nigerians triumph. God always triumphs. |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by givedemwotowoto: 8:12pm On May 13 |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by Paraman: 8:14pm On May 13 |
ogododo:The naira will soon gain value against the dollar. 1 Like |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by Didijiji: 9:16pm On May 13 |
Odumeje come and help us ooo If na for Tinubu and his clueless team na 2k e dey head to so ooo 2 Likes |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by RonuFools: 11:14pm On May 13 |
EbolaTinubu is working according to Ronu miscreants 1 Like |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by RonuFools: 11:15pm On May 13 |
Paraman:Your brainless messiah is confused Zombie |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by RonuFools: 11:16pm On May 13 |
Putinofrussia:Don't connect your madness with God oga. Election has consequences 1 Like |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by Putinofrussia: 11:32pm On May 13 |
RonuFools: Naira will appreciate this week. Nigerians triumph. God always triumphs. |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by magoo10(m): 5:06am On May 14 |
The next step will be to deplete the external reserve so that naira can appreciate to continue deceiving themselves .tinubunomics first class olodo |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by Paraman: 5:48am On May 14 |
RonuFools:Tinubu will rule Nigeria till may 29 2031 |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by VinnyBaba: 5:52am On May 14 |
Tinibu will tackle the Economy while I will tackle security'- Shettima. These Two Men have FAILED in their basic assignments. SHAME on Them and APC! |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by skultrick(m): 6:25am On May 14 |
Good news. Hoping it appreciates even further. But hope its not reserve they are using to pull it out. Meanwhile i have a neatly used Galaxy Watch 6 Classic (47mm) for sale at 315k. I stay in Abuja so Abuja only. Call or WhatsApp the numer in my signature.
|
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by strangest(m): 6:57am On May 14 |
Ist class accountant is leading |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by RonuFools: 8:19am On May 14 |
Paraman:And hunger will not make you see May 29 2031 |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by Paraman: 8:23am On May 14 |
RonuFools:Get in |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by RonuFools: 8:25am On May 14 |
Paraman:I believe you are talking to your father |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by Donaldoni: 8:25am On May 14 |
With full local production of petroleum products, this won't matter anymore. Some months ago, the price of diesel was NGN1,700 per liter with similar exchange rate. Today it has remained NGN1,100 or thereabout. With CNG usage and local PMS production underway, better days are ahead. FG does not care about the dollar anymore. |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by Paraman: 8:27am On May 14 |
RonuFools:k |
Re: Naira Depreciates Further Against Dollar To 1,515/$ As External Reserves Increas by Elusive001: 8:56am On May 14 |
Donaldoni: So how much was diesel before this great TINUBUlation? How much was LPG before this same situation? |
(1) (Reply)
You’re Willfully Blinded To Tinubu’s Achievements - APC Tells Atiku / Nigeria, Us Sign Historic Agreement Wednesday / Yar'adua's Top Aides Embezzled #70billion During His Time In Hospital!
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 19 |