NewStats: 3,264,177 , 8,182,873 topics. Date: Tuesday, 10 June 2025 at 03:38 AM 3x1c3i

The naira depreciated to N1,700 per dollar at the parallel section of the foreign exchange (FX) market on Friday.

At the end of trading hours, the naira depreciated by 1.49 percent compared to the N1,675/$ traded on Thursday.

The N1,700 per dollar is the lowest the naira has depreciated since February 19, when the naira recorded a low of N1,730/$.

Currency traders, also known as street traders, in Lagos, quoted the buying rate of the local currency at N1,680/$ and the selling rate at N1,700/$ — leaving a profit margin of N20.

At the official window, the local currency appreciated by 2.24 percent from N1,576.1/$ on Thursday to trade at N1,540.78 on Friday.

According to FMDQ Exchange, a platform that oversees the official window, a dollar was sold as high as N1,691 and at a low rate of N1,530. during trading hours.

WEEK-LONG FLUCTUATIONS

At the parallel market on Monday, the naira depreciated to N1,665/$ from N1,663 on September 20.

Maintaining the depreciation streak, the local currency fell further to N1,670 and N1,680 on Tuesday and Wednesday, respectively.

However, the naira rebounded to N1,675 on Thursday.

At the official FX market, the local currency depreciated to N1,562.66 on Monday — from N1,541.52 on September 20.

Subsequently, the naira further depreciated to N1,658.48 on Tuesday and N1,667.72 on Wednesday, before appreciating to N1,576.1 on Thursday.

On January 29, the Central Bank of Nigeria (CBN) said it had begun implementing a comprehensive plan to improve liquidity in the Nigerian FX markets in the short, medium, and long term.

The apex bank said the FX reforms were designed to streamline and harmonise multiple exchange rates, promote transparency, and lessen the likelihood of arbitrage opportunities.

On September 25, Olayemi Cardoso, governor of CBN, said the multiple interest rate hikes have restored confidence in the naira.

https://www.thecable.ng/naira-depreciates-to-n1700-at-parallel-market-lowest-level-in-seven-months/amp/

Good old days before calamity befell Nigeria and Nigerians in 2015 and calamity extraordinaire came on board in 2023.

Tinubu has destroyed Nigeria beyond redemption.

Oluwale economic team under one year has destroyed Nigeria economy, propaganda get limit. their incompetence is so obvious

On 27th April 2023, a certain man pledged naira will exchange for 300 to the USD in the “short term”

I think say Dangote fuel go ease the pressure on naira?
E be like na now the naira deh feel the most pressure

Lindlady:
Tinubu has destroyed Nigeria beyond redemption.

Same way you have destroyed this forum with daily senseless trolling monikers

Should you be opening your mouth to be talking about something you mastered

Rabbish

APC ers are people who like very expensive jokes. It was clear from 2015 that APC had nothing to offer.

helinues:


Same way you have destroyed this forum with daily senseless trolling monikers

Should you be opening your mouth to be talking about something you mastered

Rabbish

smh.
I am a er of Tinubu govt but I am not blind like u bruh.

Tinubu policies is anti people, none of his policies has yeilded any positive result.

Inflation, currency depreciation, loss of Jobs, insecurity, political instability, companies shutting down. All these are not something we want to see. Tell urself the truth abeg

richmond500:
smh.
I am a er of Tinubu govt but I am not blind like u bruh.

Tinubu policies is anti people, none of his policies has yeilded any positive result.

Inflation, currency depreciation, loss of Jobs, insecurity, political instability, companies shutting down. All these are not something we want to see. Tell urself the truth abeg

I no know say you get sense o

Thank God o

richmond500:
smh.
I am a er of Tinubu govt but I am not blind like u bruh.

Tinubu policies is anti people, none of his policies has yeilded any positive result.

Inflation, currency depreciation, loss of Jobs, insecurity, political instability, companies shutting down. All these are not something we want to see. Tell urself the truth abeg

Where did I mention you? Na so your confusion don reach?

BeeBeeOoh:
Good old days before calamity befell Nigeria and Nigerians in 2015 and calamity extraordinaire came on board in 2023.

No be small calamity e be!

This is almost 10years of APC (the disastrous party) in power, naira is on the steady and sustained slide, 1 Ghana Cedis =#1200, 1Cameroon French=#2,450 and so on, everything has been bastardized including our electoral system, PDP invented PVC and card readers into the electoral system, APC vandalized the e-voting idea, thurgerized the IRiev. Nigerians are becoming poorer on a daily basis, Killing has become normal under APC.

Which legacy is The APC leaving behind?

#challenge legaciesofAPCintenyears?

helinues:


Where did I mention you? Na so your confusion don reach?

Oh sorry.
Knowing that u are jobless and always on nairaland 24/7, I felt I should just mention u. Since I am not sure other people may reply me cos I don't know if they work on Saturday.

But as for u, e sure me die say even Monday morning, u go reply person.

Shege banza!


We're waiting for Ubanka and Buruba!

A bag of rice is now above 100k. Garri is now becoming a rich man's meal...

The poor people that Tinubu is creating will endure like the children of Lagos state endured and now living a standard lifestyle different from what we're experiencing now😊

BrodaBenad:


I no know say you get sense o

Thank God o

Unlike u, I get sense.

No be everybody be like u. Have a nice weekend

richmond500:
Oh sorry.
Knowing that u are jobless and always on nairaland 24/7, I felt I should just mention u. Since I am not sure other people may reply me cos I don't know if they work on Saturday.

But as for u, e sure me die say even Monday morning, u go reply person.

Wow, so productive you have been monitoring how active I have been on this forum

It's just so funny when I read people saying they have been monitoring my activities as they are just too productive while I am not even aware of the existence of their monikers or the person behind it. We have got lots of mansions on people's head oo

That's 3daful oo

helinues:


Same way you have destroyed this forum with daily senseless trolling monikers

Should you be opening your mouth to be talking about something you mastered

Rabbish

fergie001 nlfpmod Seun

richmond500:
I think say Dangote fuel go ease the pressure on naira?
E be like na now the naira deh feel the most pressure

If you think that they your basic understanding of economics is flawed

The only thing that would make petrol cheaper a bit in massive increase in crude oil production.. Why?

Selling to dangote reduce forex earning that weakens the naira which push pump price up

We need to give dangote his 500,000BPD and still produce our 2.2 MPD that's only way to save this country

But that's not possible because of corruption...
A corrupt president can't fight corruption

helinues:


Wow, so productive you have been monitoring how active I have been on this forum

That's 3daful oo

I know say u go reply, na sure odd.

Person no suppose monitor u sha, na rare occurrence we deh monitor.

U be like germs, e deh everywhere, no need to monitor am

richmond500:
I know say u go reply, na sure odd.

Person no suppose monitor u sha, na rare occurrence we deh monitor.

U be like germs, e deh everywhere, no need to monitor am

Why I no go reply bullying? I made my comments talking about someone's activities but you jumped on it like Puma telling me bullshit.

Bring your head make I knack you something.

No time for Iranu

i have a sound friend that told me that TINUBU is working and that make me weak that nigeria are not ready for change , as long as we have some st**pd individual that still believe in this goverment, then its finished

After every FAAC allocation, Naira falls.

Some of the funds disbursed are converted by recipients to USD.

Nigerian youth remain gullible. Can't you understand, government won't subsidized your foreign lifestyle again with borrowed fund.

Exchange rate is a function of your productions and consumption

As long as you consume more than you produce, your national will receive the heat.

What happened in Nigeria and other Africa countries is to continue borrowing to finance the lavish life of the few, who is living America life in their country

If you want better exchange rate drop your taste for foregn goods and start producing, be satisfy with what you and keep on improving until you have what you want

We refuse to learn, im expecting 5k to a $, maybe then we will learn to look inward

Tinubu may God bless you. Let's make it 2k by October ending.

It's non of our business our major concern is how to keep kanu in pepetual detention

Hehehe! Cardoso what's up man?

helinues:


Why I no go reply bullying? I made my comments talking about someone's activities but you jumped on it like Puma telling me bullshit.

Bring your head make I knack you something.

No time for Iranu

Bruh, I never even start, u call am bully?
I said Tinubu policy is anti people and u call that bullying?

Is the truth bullying you?

Yoruba should handover economy management back to Igbo, I have said it severally here. They demonized Emefiele and brought in Cardoso. Now breeze don blow, fowl nyash don show.

Tinnnuuuuuuu

Toh!
They told us that when Dangote starts refining , Dollars will full everywhere.