₦airaland Forum

The Naira on Monday fell freely at the parallel market, as scarcity of dollars paralysed activities.

It lost N3 to exchange at N241 to the dollar on Monday afternoon, after it traded for N238 to the dollar on Friday.
The official inter-bank rate remained at N197 to the dollar.

Traders at the market said that the scarcity of dollars had crippled activities at the market.

They said the situation was worrisome and urged the apex bank to ensure that more dollars were sold to meet the increasing demand of the currency.

Also speaking, an operator of Bureau de Change (BDC), Mr Harrison Owoh, noted that the CBN sold forex to BDCs only once last week.

Owoh, who is the Managing Director of H.J Trust and Investment Ltd, said that the fall in the Naira was due to high demand for the dollar, which he said was more than the supply.

http://www.vanguardngr.com/2015/11/naira-in-free-fall-as-dollars-scarcity-paralyses-activities-at-parallel-market/

D lady above me sha.well presure is quiet much on d dollar,me hav a feel dat CBN gov knws wot he tink x right to atlest bring socour to ds Quagmire,br nt wen a Kingkong is incharge f tins.

Too bad
It was 199.25 before.

Oga oo.

Pinkfeet1:
Too bad
It was 199.25 before.

Oga oo.

Which year?

Paid 240 to a dollar last weekend. Will still pay another one today.


Chai! CBN.

Youngzedd:
Paid 240 to a dollar last weekend. Will still pay another one today.


Chai! CBN.

Where? Still made amazon purchase yesterday @ 220 ..... This 240 menene is cos CBN is refusing to sell to BDCs..

Hopefully the people hiding USD in their bedrooms will release into the PM since BVN & no cash deposit won't let them send out..

trouble for naira lurks in the dark

Not good for business.