Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,153,763 members, 7,820,660 topics. Date: Tuesday, 07 May 2024 at 06:59 PM |
Nairaland Forum / Nairaland / General / Business / Naira Weakens Against Dollar At Parallelmarket (718 Views)
External Reserves Hit Two-week Low As Naira Weakens / Naira Weakens To N458 Per Dollar At Parallel Market / Naira Weakens Against Dollar 357/ 1$ (2) (3) (4)
(1) (Reply)
Naira Weakens Against Dollar At Parallelmarket by chiefkpokp(m): 8:44pm On Mar 02, 2016 |
The CBN efforts to stabilise the Naira against the
Dollar is not producing the desired results
– The Naira weakened on the parallel market on
March 2
The continued efforts of the Central Bank of
Nigeria (CBN) to stabilise the Naira against the
Dollar at the parallel market is still not yielding the
anticipated positive results as the local currency
on March 2 weakened.
The apex bank rate of selling the Nigerian
currency is N199/Dollar while the green bills now
sell at N320/Dollar at the parallel market.
When a call was placed to a bureau de change
agent operating in Lagos state, the commercial
hub of Nigeria, he disclosed that they currently
sell the Nigerian currency at N315/Dollar.
The local currency has been fluctuating against
the Dollar since the global downfall in oil prices at
the international market. Some experts have
advised the Nigerian government to devalue the
Naira but President Muhammadu Buhari has
remained adamant on his stance against
devaluing the local currency.
The president on February 20 asserted that
devaluation of the Naira will not help the country
“as it had few exports apart from oil and
depended on imports whose cost would rise with
such a move.” |
Re: Naira Weakens Against Dollar At Parallelmarket by Jaftee(m): 9:30pm On Mar 02, 2016 |
everybody knows that CBN can only do little as they are already out of ideas. the should ask for help and stop the noise making |
(1) (Reply)
Free Book Of The Week: The 7 Habits Of Highly Effective People / Cow Horns Still Needed; Location Is Lagos / No Plan To Convert $20 B In Dom Acct To Naira – Emefiele
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 5 |