₦airaland Forum

The Nigerian naira has been volatile on the parallel market in recent times, weakening against the dollar but it may start appreciating next week.

The currency was seen stable against the dollar towards the end of this week, although it lost two units against the greenback. It exchanged at 320 per dollar at the end of this week on the parallel market as against 318 per dollar last week.

Although there's a wide margin between the parallel and the official market, President Muhammadu Buhari anti-devaluation stance stands staunchly. According to reports, the decision of the CBN not to devalue is one of the reasons the currency had been losing value against the dollar of recent. However, the currency may start appreciating against the dollar next week going by recent events.

Here are three reasons why:

1. The dollar is weakening:

The US dollar has been weakening against major currencies recently. This is reflective in the price of a barrel of crude oil- which has hit its highest point in 2016. This factor may cause the naira to appreciate against the dollar next week.

2. 2016 Budget:

With the controversies surrounding the 2016 budget almost over, the document might be signed next week. There are reports the senate committee and the presidential committee have concluded work on the document. It's also expected that President Buhari will assent the document next week. This is expected cause an inflow of dollars into the country via investments. In addition, investors' faith in the government will increase, making them to bring their investments into the country.

3. Less demand for dollars:

The demand for dollar has been abating as it's clear that FG won't devalue the naira. This has caused several industries to seek their raw materials locally.

#Sai_Baba

CC: Lalasticlala

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FIRIKI:
What's is the price of Aluminum step tiles (0.55mm gauge).

Call/Whatsapp: +2348160320327 for info on prices Sir

mufutau55:
Sorry, not you but Segun... I got it mixed-up. I am sure you know your co-worker Segun (Seglad2) right? Thanks.

Hajji M.

Yeah! Oscourf

mufutau55:
Ok. Apologies to the OP then.
How are you Lanre? Of course I know you work for Batlan, we have communicated in the past. Thanks.

Hajji M.

Communicated I cnt remember communicatin' with U oo.. Can U pls remind when??

I agree with OP tho... In Batlan Concepts, our prices are cheaper 'coz we saw that the prices 4 wichtech and Metrotiles r very expensive.. Thats de reason Metrotiles and wichtech Used our price 2 advertise against us that 'coz our product is mediocre, thats y our price is cheap and thats nt true... Only D.S south Korea can withstand intense pressure which no other roofing brand can withstand and I stand 2 b challenged by any other company's rep.

mufutau55:
You never heard of 1st Aluminium and Qualitec?
Or may be this is just an indirect advertisement for BATLAN?.

Hajji M.

OP doesnt work 4 Batlan oo... I work 4 Batlan.. Maybee he's part of those peepz dah do call us 2 make enquiries thinkin' tha dey wanna buy our product.. Maybee thats hw he/she got de info

lolz

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