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The Naira/dollar Watch Thread - Business (11) - Nairaland 3f6d67

The Naira/dollar Watch Thread (22990 Views)

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MummyIMadeIt: 9:24pm On Feb 03
Paraman:
Your prediction is wrong

That's why it's called a prediction....
Inception(m): 1:24pm On Feb 04
Paraman:


It's normal for the foreign reserve to dip.The CBN reform is why the naira is strengthening against the dollar.

That is half truth at the bolded.

The fundamental drivers to ensure a strong currency has not been addressed. What are they , you may ask?

Export earnings, agricultural production capacity,Industrial production, and even FDI still remain unchanged.

Its like applying perfume on a decomposing body. It will mask it for a while, but it will still rot at the end.

If all is good, why deplete the reserves in the magnitude of almost 1.2 Billion USD in a matter of 3 weeks( 390 million USD per week)?

If the trend continues, In 10 weeks , we are done for!

Well, we are watching.

1 Like

MummyIMadeIt: 4:04pm On Feb 04
Tue 4 Feb, 2025

1 USD ⇛ ₦1,582.528
1 GBP ⇛ ₦1,931.057
1 EUR ⇛ ₦1,611.521
1 CAD ⇛ ₦1,106.160
1 GHS ⇛ ₦97.40
1 ZAR ⇛ ₦79.80
1 CFA ⇛ ₦2.35

1 Like

MummyIMadeIt: 2:13pm On Feb 05
Wed 5 Feb, 2025

1 USD ⇛ ₦1,589.402
1 GBP ⇛ ₦1,946.390
1 EUR ⇛ ₦1,623.187
1 CAD ⇛ ₦1,105.990
1 GHS ⇛ ₦97.24
1 ZAR ⇛ ₦80.62
1 CFA ⇛ ₦2.38

1 Like

MummyIMadeIt: 5:45pm On Feb 06
Thu 6 Feb, 2025

1 USD ⇛ ₦1,581.976
1 GBP ⇛ ₦1,938.114
1 EUR ⇛ ₦1,615.814
1 CAD ⇛ ₦1,089.550
1 GHS ⇛ ₦97.72
1 ZAR ⇛ ₦81.05
1 CFA ⇛ ₦2.38

1 Like

Paraman: 10:48pm On Feb 06
Inception:


That is half truth at the bolded.

The fundamental drivers to ensure a strong currency has not been addressed. What are they , you may ask?

Export earnings, agricultural production capacity,Industrial production, and even FDI still remain unchanged.

Its like applying perfume on a decomposing body. It will mask it for a while, but it will still rot at the end.

If all is good, why deplete the reserves in the magnitude of almost 1.2 Billion USD in a matter of 3 weeks( 390 million USD per week)?

If the trend continues, In 10 weeks , we are done for!

Well, we are watching.
What do you mean by the reserve was depleted? How much is it on 28/05/2023? How much is it now?

Where do you expect the CBN to get the money to settle Nigeria obligation if not from the foreign reserve?

Didn't you hear that the CBN just cleared a $7 billion backlog this government inherited?
Demolaeby: 8:32am On Feb 07
That is a good projection
MummyIMadeIt: 4:39pm On Feb 07
Fri 7 Feb, 2025

1 USD ⇛ ₦1,561.216
1 GBP ⇛ ₦1,920.151
1 EUR ⇛ ₦1,606.959
1 CAD ⇛ ₦1,084.510
1 GHS ⇛ ₦97.80
1 ZAR ⇛ ₦81.66
1 CFA ⇛ ₦2.39

1 Like

MummyIMadeIt: 4:15pm On Feb 10
Mon 10 Feb, 2025

1 USD ⇛ ₦1,557.096
1 GBP ⇛ ₦1,921.411
1 EUR ⇛ ₦1,575.032
1 CAD ⇛ ₦1,088.400
1 GHS ⇛ ₦96.86
1 ZAR ⇛ ₦81.51
1 CFA ⇛ ₦2.36

1 Like

MummyIMadeIt: 6:43pm On Feb 11
Tue 11 Feb, 2025

1 USD ⇛ ₦1,567.769
1 GBP ⇛ ₦1,914.866
1 EUR ⇛ ₦1,599.633
1 CAD ⇛ ₦1,088.340
1 GHS ⇛ ₦96.96
1 ZAR ⇛ ₦81.16
1 CFA ⇛ ₦2.36

1 Like

MummyIMadeIt: 2:21pm On Feb 12
Wed 12 Feb, 2025

1 USD ⇛ ₦1,562.691
1 GBP ⇛ ₦1,917.994
1 EUR ⇛ ₦1,600.058
1 CAD ⇛ ₦1,084.330
1 GHS ⇛ ₦97.83
1 ZAR ⇛ ₦81.96
1 CFA ⇛ ₦2.39

1 Like

MummyIMadeIt: 3:16pm On Feb 13
Thu 13 Feb, 2025

1 USD ⇛ ₦1,559.180
1 GBP ⇛ ₦1,929.085
1 EUR ⇛ ₦1,610.024
1 CAD ⇛ ₦1,082.080
1 GHS ⇛ ₦97.60
1 ZAR ⇛ ₦81.24
1 CFA ⇛ ₦2.39

2 Likes

MummyIMadeIt: 3:31pm On Feb 14
Fri 14 Feb, 2025

1 USD ⇛ ₦1,544.047
1 GBP ⇛ ₦1,928.147
1 EUR ⇛ ₦1,608.757
1 CAD ⇛ ₦1,079.750
1 GHS ⇛ ₦97.76
1 ZAR ⇛ ₦82.46
1 CFA ⇛ ₦2.42

1 Like

MummyIMadeIt: 2:03pm On Feb 17
Mon 17 Feb, 2025

1 USD ⇛ ₦1,580.178
1 GBP ⇛ ₦1,943.388
1 EUR ⇛ ₦1,621.107
1 CAD ⇛ ₦1,086.100
1 GHS ⇛ ₦98.10
1 ZAR ⇛ ₦81.93
1 CFA ⇛ ₦2.41

1 Like

MummyIMadeIt: 5:00pm On Feb 18
Tue 18 Feb, 2025

1 USD ⇛ ₦1,575.150
1 GBP ⇛ ₦1,943.760
1 EUR ⇛ ₦1,617.977
1 CAD ⇛ ₦1,082.500
1 GHS ⇛ ₦97.10
1 ZAR ⇛ ₦81.80
1 CFA ⇛ ₦2.40

1 Like

Inception(m): 5:04am On Feb 19
MummyIMadeIt:
Tue 18 Feb, 2025

1 USD ⇛ ₦1,575.150
1 GBP ⇛ ₦1,943.760
1 EUR ⇛ ₦1,617.977
1 CAD ⇛ ₦1,082.500
1 GHS ⇛ ₦97.10
1 ZAR ⇛ ₦81.80
1 CFA ⇛ ₦2.40

This quote seems higher that what is prevailing at the Market....

1 Like

MummyIMadeIt: 4:19pm On Feb 19
Wed 19 Feb, 2025

1 USD ⇛ ₦1,543.524
1 GBP ⇛ ₦1,936.652
1 EUR ⇛ ₦1,608.148
1 CAD ⇛ ₦1,075.470
1 GHS ⇛ ₦97.30
1 ZAR ⇛ ₦81.30
1 CFA ⇛ ₦2.40

2 Likes

oluayebenz: 12:40pm On Feb 20
Inception:


This quote seems higher that what is prevailing at the Market....

Yes actually

The OP is not giving up to date info.

Today rate 1 USD - 1,491

1 Like

MummyIMadeIt: 2:34pm On Feb 20
Thu 20 Feb, 2025

1 USD ⇛ ₦1,502.248
1 GBP ⇛ ₦1,913.935
1 EUR ⇛ ₦1,588.361
1 CAD ⇛ ₦1,050.140
1 GHS ⇛ ₦96.75
1 ZAR ⇛ ₦81.54
1 CFA ⇛ ₦2.40

1 Like

MummyIMadeIt: 4:04pm On Feb 21
Fri 21 Feb, 2025

1 USD ⇛ ₦1,492.795
1 GBP ⇛ ₦1,921.102
1 EUR ⇛ ₦1,593.308
1 CAD ⇛ ₦1,054.550
1 GHS ⇛ ₦96.78
1 ZAR ⇛ ₦82.02
1 CFA ⇛ ₦2.40

1 Like

MummyIMadeIt: 3:24pm On Feb 24
Mon 24 Feb, 2025

1 USD ⇛ ₦1,489.694
1 GBP ⇛ ₦1,909.368
1 EUR ⇛ ₦1,583.208
1 CAD ⇛ ₦1,042.700
1 GHS ⇛ ₦96.90
1 ZAR ⇛ ₦81.85
1 CFA ⇛ ₦2.38

1 Like

MummyIMadeIt: 3:11pm On Feb 25
Tue 25 Feb, 2025

1 USD ⇛ ₦1,499.257
1 GBP ⇛ ₦1,911.702
1 EUR ⇛ ₦1,586.129
1 CAD ⇛ ₦1,044.990
1 GHS ⇛ ₦96.74
1 ZAR ⇛ ₦81.70
1 CFA ⇛ ₦2.40

1 Like

MummyIMadeIt: 2:15pm On Feb 26
Wed 26 Feb, 2025

1 USD ⇛ ₦1,498.477
1 GBP ⇛ ₦1,914.332
1 EUR ⇛ ₦1,589.946
1 CAD ⇛ ₦1,039.070
1 GHS ⇛ ₦96.75
1 ZAR ⇛ ₦81.54
1 CFA ⇛ ₦2.40

1 Like

MummyIMadeIt: 2:45pm On Feb 27
Thu 27 Feb, 2025

1 USD ⇛ ₦1,495.783
1 GBP ⇛ ₦1,917.443
1 EUR ⇛ ₦1,589.642
1 CAD ⇛ ₦1,038.540
1 GHS ⇛ ₦96.88
1 ZAR ⇛ ₦81.30
1 CFA ⇛ ₦2.38

1 Like

MummyIMadeIt: 5:40pm On Feb 28
Fri 28 Feb, 2025

1 USD ⇛ ₦1,498.976
1 GBP ⇛ ₦1,909.398
1 EUR ⇛ ₦1,581.353
1 CAD ⇛ ₦1,030.260
1 GHS ⇛ ₦95.98
1 ZAR ⇛ ₦80.63
1 CFA ⇛ ₦2.38

1 Like

MummyIMadeIt: 12:48pm On Mar 03
Mon 3 Mar, 2025

1 USD ⇛ ₦1,496.245
1 GBP ⇛ ₦1,899.078
1 EUR ⇛ ₦1,570.452
1 CAD ⇛ ₦1,029.300
1 GHS ⇛ ₦97.25
1 ZAR ⇛ ₦80.35
1 CFA ⇛ ₦2.38

1 Like

MummyIMadeIt: 5:37pm On Mar 04
Tue 4 Mar, 2025

1 USD ⇛ ₦1,496.249
1 GBP ⇛ ₦1,920.814
1 EUR ⇛ ₦1,590.201
1 CAD ⇛ ₦1,031.900
1 GHS ⇛ ₦180.98
1 ZAR ⇛ ₦80.69
1 CFA ⇛ ₦2.41

1 Like

MummyIMadeIt: 3:28pm On Mar 05
Wed 5 Mar, 2025

1 USD ⇛ ₦1,504.815
1 GBP ⇛ ₦1,932.041
1 EUR ⇛ ₦1,606.154
1 CAD ⇛ ₦1,039.050
1 GHS ⇛ ₦96.86
1 ZAR ⇛ ₦81.50
1 CFA ⇛ ₦2.44

1 Like

MummyIMadeIt: 3:11pm On Mar 06
Thu 6 Mar, 2025

1 USD ⇛ ₦1,525.095
1 GBP ⇛ ₦1,971.943
1 EUR ⇛ ₦1,652.835
1 CAD ⇛ ₦1,065.550
1 GHS ⇛ ₦97.43
1 ZAR ⇛ ₦82.40
1 CFA ⇛ ₦2.48

1 Like

MummyIMadeIt: 2:09pm On Mar 10
Mon 10 Mar, 2025

1 USD ⇛ ₦1,553.099
1 GBP ⇛ ₦1,996.263
1 EUR ⇛ ₦1,680.158
1 CAD ⇛ ₦1,070.160
1 GHS ⇛ ₦98.36
1 ZAR ⇛ ₦83.99
1 CFA ⇛ ₦2.53

1 Like

MummyIMadeIt: 2:14pm On Mar 11
Tue 11 Mar, 2025

1 USD ⇛ ₦1,561.894
1 GBP ⇛ ₦2,022.230
1 EUR ⇛ ₦1,703.270
1 CAD ⇛ ₦1,082.680
1 GHS ⇛ ₦99.50
1 ZAR ⇛ ₦83.82
1 CFA ⇛ ₦2.55

1 Like

MummyIMadeIt: 4:24pm On Mar 12
Wed 12 Mar, 2025 •

1 USD ⇛ ₦1,562.714
1 GBP ⇛ ₦2,060.029
1 EUR ⇛ ₦1,744.105
1 CAD ⇛ ₦1,077.790
1 GHS ⇛ ₦99.30
1 ZAR ⇛ ₦84.18
1 CFA. ⇛ ₦2.56

2 Likes

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