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Nairaland Forum / Nairaland / General / Business / Naira Faces Further Decline On Continued Dollar Scarcity (25340 Views)
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Naira Faces Further Decline On Continued Dollar Scarcity by Truth234(m): 7:18am On Jan 01, 2017 |
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/ 1 Like 1 Share |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by JonSnow(m): 7:45am On Jan 01, 2017 |
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. 72 Likes 6 Shares |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by free2ryhme: 7:45am On Jan 01, 2017 |
Life continues |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by gurunlocker: 7:45am On Jan 01, 2017 |
This is New Year please, don't give us bad news. Also, Happy New Year in advance to Mavrodians 8 Likes |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by irenmwinfo(m): 7:45am On Jan 01, 2017 |
Recession oooo |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by prettmum(f): 7:46am On Jan 01, 2017 |
happy new year Naria |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by free2ryhme: 7:46am On Jan 01, 2017 |
Dollar shortage or not we still survive 1 Like |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by link2ok(m): 7:46am On Jan 01, 2017 |
Following |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by idupaul: 7:46am On Jan 01, 2017 |
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 22 Likes 2 Shares |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by clydedaniels(m): 7:47am On Jan 01, 2017 |
Hmmm... Things will get better this year. 1 Like 1 Share |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by Nobody: 7:47am On Jan 01, 2017 |
Can't Nigerians do without dollars sef. 2 Likes |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by alexy147(m): 7:48am On Jan 01, 2017 |
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.. 25 Likes 2 Shares |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by wunmi590(m): 7:48am On Jan 01, 2017 |
This is new year, and peoples prophecies has started coming to pass God would surely save us 1 Like |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by Miles300: 7:49am On Jan 01, 2017 |
idupaul:u can just imagine dat |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by emmanuel596(m): 7:49am On Jan 01, 2017 |
Apostle Johnson suleman |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by Glaxxs: 7:49am On Jan 01, 2017 |
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 |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by Nobody: 7:50am On Jan 01, 2017 |
na bitcoin and MMM sure pass 4 Likes 1 Share |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by ANIEXTY(m): 7:50am On Jan 01, 2017 |
Una don start again with bad news this new year! |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by Nobody: 7:51am On Jan 01, 2017 |
JonSnow: Wicked signature. I love it 1 Like |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by Femsmart(m): 7:51am On Jan 01, 2017 |
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. 2 Likes |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by lifestyle1(m): 7:51am On Jan 01, 2017 |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by oxmale: 7:52am On Jan 01, 2017 |
gurunlocker:Does new year change activities on the earth. won't everything still remain how they were. 3 Likes |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by Nobody: 7:53am On Jan 01, 2017 |
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! 23 Likes 1 Share |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by oxmale: 7:53am On Jan 01, 2017 |
alexy147:I like your mindset. 2 Likes |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by Clone2020(m): 7:53am On Jan 01, 2017 |
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. |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by NNVanguard(m): 7:54am On Jan 01, 2017 |
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. 7 Likes |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by gurunlocker: 7:55am On Jan 01, 2017 |
oxmale: Tell me more... 1 Like |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by abham: 7:56am On Jan 01, 2017 |
We dnt spend dollar in dis country or do we? 1 Like |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by erico2k2(m): 7:59am On Jan 01, 2017 |
alexy147:Wrong prayer point 3 Likes |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by truthspeaks: 7:59am On Jan 01, 2017 |
Ok. Let's pray for the naira. Sarrki n co |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by dokJ: 7:59am On Jan 01, 2017 |
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. |
Re: Naira Faces Further Decline On Continued Dollar Scarcity by erico2k2(m): 7:59am On Jan 01, 2017 |
abham:When you consume foreign goods you do 5 Likes |
Naira Steady Against Dollar, Rebounds Slightly Against Euro And Pounds / How To Succed In Pure Water Business / Union Bank Takes Over Dangote’s Company Over Unpaid N4b Loan
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