The naira fell further on Wednesday to 230 to the dollar on the parallel market, driven by pressure from importers excluded from the interbank market, currency traders said.


The naira traded at 228 to the dollar on Tuesday and was at 220 last Wednesday, the day the central bank introduced new rules curbing importers’ access to the interbank market to source greenbacks to buy a wide range of items.

“The market is very volatile now as a result of the restrictions placed on about 41 items by the central bank. Most importers are now patronising the parallel market to source their dollars,” said Harrison Owoh, the head of a foreign exchange bureau.

The naira was trading at 198.95 to the dollar on the interbank market on Wednesday. The central bank lowered its exchange rate peg to 196.95 to the dollar on Tuesday from 196.90 last week.

Source:http://www.nairausd.com/2015/07/naira-weakens-further-on-parallel-market.html

Twitter @nairausd

What is really happening in this country.

Where is the old man who wouldn't let everybody rest, due to his incessant vows and promises?
Blabbing that has pushed us to a more difficult and stiff economy.

@lalasticlala.
@Barcanista
@Firefire
@Nairaland

I gat the youth of this nation to blame for all these anomalies . whose majority have sold their conceincies and been divided in the line of religious and tribal politics. That is why they ended up choosing a brainlles, dullard as the leader of these great nation.

jordy101:
I gat the youth of this nation to blame for all these anomalies . whose majority have sold their conceincies and been divided in the line of religious and tribal politics. That is why they ended up choosing a brainlles, dullard as the leader of these great nation.

That is how we are. Only talk but no action

$1.2 Billion Forex Sale Could Not Save The Naira

http://www.nairausd.com/2015/07/12-billion-forex-sale-could-not-save.html

Change has come, it would drop further...... I would make $1 equal 1naira