The naira is set to witness another round of decline against the dollar in the days ahead as expected increase in dollar flows from Nigerians living abroad coming home for holidays fell short of expectations.

The local currency closed at 490 to the dollar on Friday, from 495 against the dollar last Friday at the parallel market, Reuters reported.

In the official interbank window, the naira was quoted at 310.25 to the dollar on Thursday, but it was expected to close at around 305.5, the same level it has traded at since August.

“We see the naira depreciating against the dollar by the time more businesses resume operations next week after the festive season as dollar liquidity remains thin in the market,” one currency dealer said.

Currency experts have predicted the naira will weaken against the greenback as the New Year approaches.

Specifically, they said the naira might fall to 500/dollar this week.

The naira has been under severe and continuous pressure as the scarcity of the US currency continues to create ripples in the financial markets and economy.

A director at Union Capital Markets, Mr. Egie Akpata, said it was really difficult to predict the direction of the naira currently because part of the currency market had shut down for the year.

“You can’t really predict the market now because part of the market has shut down for the year. Things will really take shape next week. Currently, it could swing anywhere,” he said.

http://investorsking.com/naira-faces-decline-continued-dollar-scarcity/

Buhari is a bastardized bastard.


Happy new year to you all sensible humans.

Except ndi ofe, collect your new year greeting from your tribal marks and from buhari your fellow illiterate.

Life continues

This is New Year please, don't give us bad news.

Also, Happy New Year in advance to Mavrodians

Recession oooo

happy new year Naria

Dollar shortage or not we still survive

Following

Buhari can't stop the slide of the naira for even 2 weeks yet he will be talking of how he doesn't want to devalue the naira

Hmmm...
Things will get better this year.

Can't Nigerians do without dollars sef.

Recession or not..Dollar increase or not.,our 2017 won't be determined by any rise and fall of naira...Amen...greater thing ahead of us all..Happy new year people..

This is new year, and peoples prophecies has started coming to pass

God would surely save us

idupaul:
Buhari can't stop the slide of the naira for even 2 weeks yet he will be talking of how he doesn't want to devalue the naira

u can just imagine dat

Apostle Johnson suleman prophesy ..opss predictions I mean

it might be a new year, but we as still as old as ever!
maybe at the end of 2017 one naira would be equal to a dollar.
happy new year Nigerians.
in other words brace your selves

na bitcoin and MMM sure pass

JonSnow:
Buhari is a bastardized bastard.


Happy new year to you all sensible humans.

Except ndi ofe, collect your new year greeting from your tribal marks and from buhari your fellow illiterate.

Wicked signature. I love it

Good luck Jonathan surprised Nigerians on 1st of January.
Buhari is at it this time.
Lord save Nigerians, save the naira.
How to escape this mess? Never earn in Naira.
Freelancing sure pass.

gurunlocker:
This is New Year please, don't give us bad news.

Also, Happy New Year in advance to Mavrodians

Does new year change activities on the earth.
won't everything still remain how they were.

The problem with Nigerians is they know that everything is not going well in this country but they will keep quiet until it reaches critical mass....irreversible and catastrophic!

alexy147:
Recession or not..Dollar increase or not.,our 2017 won't be determined by any rise and fall of naira...Amen...greater thing ahead of us all..Happy new year people..

I like your mindset.

If you are in the US or have relatives in the US trying to send money to naija, I will exchange the funds at 415/$, simply deposit into my US bank account and receive instant funding into your Nigerian account. Don't bother with western Union and co, they exchange at 375/$ with fees and the exchange rate drops to around 345/$.

See my contact below.

Revamping our Economy is an issue that needs great financial intelligence that cuts across party lines, else, this year the dollar may cross the #500 mark.

oxmale:
Does new year change activities on the earth.
won't everything still remain how they were.

Tell me more...

We dnt spend dollar in dis country or do we?

alexy147:
Recession or not..Dollar increase or not.,our 2017 won't be determined by any rise and fall of naira...Amen...greater thing ahead of us all..Happy new year people..

Wrong prayer point

Ok. Let's pray for the naira. Sarrki n co

thou dollar, receive ur curse against d naira. thou shall not kno peace until d naira equals u n possibly overtake u this yr 2017.

abham:
We dnt spend dollar in dis country or do we?

When you consume foreign goods you do