The naira slumped to a new all-time low of 470 to the dollar on the parallel market on Wednesday, posting its biggest daily decline since the Central Bank of Nigeria adopted a flexible foreign exchange regime.

The local currency stood at 452 to the dollar at the close of trading on Tuesday, down from 445 against the greenback on Monday.

The naira closed flat at 312.99 against the dollar at the interbank market on Wednesday, according to data from FMDQ OTC Securities Exchange.

Traders and analysts said dollar liquidity remained a major challenge in the market amid surging demand pressure on the greenback by parents paying schools fees of their children studying overseas as well as travellers.

More... http://punchng.com/naira-plummets-time-low-472dollar/

Cc: lala
Seun
Ishilove

this is no longer new, sooner or later it will be 500 per dollars. People in the helms of controlling the economy are doing trial by error . Things will only get better when the Buhari led administration is serious about governance for now he is still experimenting.


Good morning All

Beadex1:
.

guy which levels naa
That (plot) spot u presently occupy belongs to me.

So upon the decline of naira lately it's yet to discover Oil maybe it should liaise with Pan Ocean Oil for quick discovery.

I thought it was 460 yesterday?

Jesus!!

GasAndOilTheory:
guy which levels naa

bros no vex....... wanna see if alert go enter for this FTC package.

To help with your issues,

My company Foreign Currency Innovations based in London specialise in making international payments.

Here at FCI we offer a fully regulated service which allows you to exchange your Naira into USD with no transaction fees without the use of a letter of credit. We are able to exchange Naira for up to $5,000,000 USD per day at a rate of 424 to 1 Dollar and the funds will reach your beneficiary within a 2-3 day time-frame.

My contact email is james.gilbert@fci-ltd.co.uk - Please get in touch if you would like to discuss further.