The Naira plummeted further on Tuesday as demand outweigh supply.

The local currency which traded at N445 to the US dollar on Monday slid to N452 at the parallel market on Tuesday.

While on the interbank market, the Naira depreciated to N312 against the dollar from the N308 it was traded on Monday.

Experts have said the current rate is not a true reflection of the Naira value, and attributed the development to the activities of speculators.

Some traders have expressed optimism that once Travelex finalize its arrangement to sell directly to Bureau de Change Operators (BDCs), the Naira will rebound.

While others have said the continuous ban of the importers of 41 items contributed to the current situation as they are also sourcing for the dollar to import for the normal end of year sales.

The President of the Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe said it will take Travelex few days to process biometric registration and funding of BDCs accounts.

Harrison Owoh, a bureau de change operator expressed his delight at the Travelex move by the central bank and called on other bureau de change operators to key into the new Travelex arrangement by registering on Travel biometrics.

A foreign exchange research analyst at Investors King Ltd., Samed Olukoya said "Normally, the announcement of Travelex arrival to the Bureau de Change segment would have halted further decline of the Naira, but with the present situation the central bank would have to do more."

Hmmm, it keeps increasing everyday

We are gradually getting there

God bless Niger.

........Falling like lanicky breast?

sukkot:
hmmm

I have nothing to say

E be like say okro or banana peel too plenty for this land with the rate the naira dey slide

no comment

Nawa ooh chai!

Why is the demand always high even when it is obvious that dollar is the bane of our economic problem?

#500 loading.
I had said we'll get there before December.

We crucified the Hero that made sure naira remained @N200.

Think!

Naira is gradually becoming the weakest
currency in Africa..

Call: Naira don fall for ground o
Response: Marsham, marsham
Call: I say naira don fall for gutter
Response: Marsham, Marsham
Call: I say Marsham, marsham, marsham, marsham
Response: Marsham, marsham.

Ngwanu.... Let uzi changing the songu to worship songu.
Its a supper story... A life of strive and sorrow..

Mtchew dollar this dollar that, every Nigerian now knows about forex and exchange rate. Do other country's citizens drool over dollars like ours? may God deliver us from this dollar grave and those annoying malams carrying calculator up and down beckoning on you to change currency.

When will d naira gain weight n over- power d dollar?. I remembered d slogan then, 1naira = 1dollar

kikikikikikik..,I will make 1$ = 1 naira, catastrophic dispensation.

Every day it's going up, affecting prices of goods. When is it going down, 2019?

Zimbabwe loading.

The government's ineptitude at handling something this essential to the nation's economic stability leaves one scratching their head.

They obviously seem more concerned about power tussle than they are about the precarious economic issues ravaging the country.

An intelligent government would have long handled the situation with tact.

At the end of the day, it is the poor man at the lower rung of things, one who can barely get by, that bears the brunt.

Asides running his mouth like someone with diarrhea, Buhari obviously isn't capable of delivering the goods economically.

A lot of experts in the country, yet we keep running in circuses. This isn't funny one bit.

gradually sliding to 500 b4 d year runz out....waz damn surprised wen i bought a bottle of groundnut oil for #600(making 150 per agolo).....peepz the change you all seek is here....enjoy it while it last

GeoOla25:
kikikikikikik..,I will make 1$ = 1 naira, catastrophic dispensation.

What's more catastrophic is the fact you believed PMB actually said that when he obviously didn't.

Hmmm, God have mercy o real quick. Meanwhile

Hahaha

Nwanne, nah finishing we dey so

As values as naira

Hmm

I think there's a masterplan...

Drive the naira into the ground, leave us with no option other than to sell National Assets...

#MyOpinion...

Donlekan please come out and defend your father ; I doubt if this hunger hasn't kill you

soon naira will equal dollar which is $1 -#1... keep waiting Buhari we do it.