Naira Stays Low At N497/$1 In Black Market - Business - Nairaland
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| Naira Stays Low At N497/$1 In Black Market by Nobody: 9:24pm On Jan 16, 2017 |
The Nigerian Naira on Monday, January 16, has stayed low at the parallel market as dollar scarcity continues. The local currency may be seeing its worst times despite the Central Bank of Nigeria (CBN)’s plan to resume dollar sales to Bureau De Change (BDC) operators this week. According to report, the Naira still exchanges at N497 to a dollar at the parallel market as it was on Friday, January 13, while the Pound Sterling and the Euro trades at N597 and 515 respectively. At the BDC window, the Naira is sold at N399 to a dollar, while the Pound Sterling and the Euro is sold at N600 and N515, respectively. Trading at the interbank market window saw the Naira exchange at N305.00 to a dollar. Graph showing Naira rate from 2015 - 2016 However, Alhaji Aminu Gwadabe, the president Association of Bureau De Change Operators of Nigeria (ABCON), expressed hope that the Naira would strengthen this week. Gwadabe said that the CBN would be selling about 25 million dollars to BDCs this week and it would definitely help in reducing liquidity challenge in the market. He urged Nigerians not to panic as the CBN was working closely with the BDCs to ensure that the Naira recovers quickly. https://www.naij.com/1082867-naira-stays-n4971-black-market.html |
| Re: Naira Stays Low At N497/$1 In Black Market by yanabasee(m): 9:28pm On Jan 16, 2017 |
Really really waiting for 1$ to equal #1... These days I barely hear people chant "sai baba" like it used to be chorused when this administration was still benefiting from the past-administration's legacies..... |
| Re: Naira Stays Low At N497/$1 In Black Market by ammyluv2002(f): 9:31pm On Jan 16, 2017 |
Oh Lord! How did we get here? 497 is the new 160...So sad! I pray PMB will do something to help the economy |
| Re: Naira Stays Low At N497/$1 In Black Market by blazer234: 10:48pm On Jan 16, 2017 |
ammyluv2002: Anty aminat, maybe we should ask if buhari has helped his own economy first. He had been collecting salary as Former president since 1985. And 30 years later, he's got to money to buy nomination form. Doesn't that indicate that buhari can't manage his own economy? Do you now expect him to manage economy of an entire nation? You can't give what you don't have. |
| Re: Naira Stays Low At N497/$1 In Black Market by Teddywhiz1: 10:56pm On Jan 16, 2017 |
Please what is the exchange rate of Canadian dollars to naira? |
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