₦airaland Forum

The naira continued its slide on Wednesday, dropping to 390 against the United States dollar at the parallel market as foreign exchange scarcity persisted.

The naira, which dropped to 382 against the United States dollar on Monday down from the 380 on Friday, had been little-changed on Tuesday, hovering between 381 and 382.

A bureau de change operator told The PUNCH that Wednesday’s drop was due to increased demand despite the scarcity of the dollar.

“We don’t think it will rise to N400 today, but I don’t know of tomorrow,” he said.



The naira has been under a persistent pressure as dollar scarcity continues to weigh on the local currency at both the parallel and interbank forex markets.

Economic and financial experts said inadequate forex liquidity at the interbank market was taking a toll on the parallel market.

Analysts had predicted that the naira would weaken further against the dollar this week owing to limited dollar supply as foreign portfolio investors continued to stay on the sidelines until the Nigerian economy showed signs of recovering from the impact of currency controls.


http://punchng.com/naira-drops-390-per-dollar/

Lalasticlala

Please,renounce violence or you die fighting against a sovereign nation. Take heed and be wise.

A man should die fighting for something worthwhile.
Its better to die than to renounce like cowards.

Nigeria as a nation has so many wahala to deal with. I think it is high time we divided into 3 sovereign states. we Southwest and North should allow ipob to live. marriage is not by force.
NB:I'm a Yoruba pikin

well! well!! well!! evrybody na king for him lane. someone is in prison forming boss! capon of our time! enjoy ur stay man!

Then prepare to die of frustration then!
You are going nowhere unless maybe from kuje to kirikiri!

Kanu is the real thing
Nigerians fear any thing real
What a shame

If only we had series of kanu this country would have been better....people who can stand by their words in order to attain freedom. ...not the cowards we call leaders today. ..

If na to divide , I beg where the knife dey..... give boko haram its islamic state,give biafra im own,even give avengers there oil state....

Nigeria is already divided.Its only a fool that can't see the cracks already. What a wasted nation.

Then, DEATH IT IS. i can only wish you people, what you wish yourselves.

How you see am lalasticlala

God will see us through. We've been through worse in the 90s. We'll live, not just survive

Naira is digging for its own crude oil

General Cassandra is living upto his name

Buhari is a monumental failure.

We are still waiting for 1$=1Naira.

What if the real value of the dollar is 500 naira?

We can deceive ourselves but not others, unless we consume what we produce with minimal imports then start increasing our exports the naira will keep falling.

sleekAfonja:
We are still waiting for 1$=1Naira.

Dream well

Naira is the only cheap commodity right now in this country

How much is a bag of rice?

Midgut:
Nigeria as a nation has so many wahala to deal with. I think it is high time we divided into 3 sovereign states. we Southwest and North should allow ipob to live. marriage is not by force.
NB:I'm a Yoruba pikin

you are a yoruba christian. yoruba muslims are born to fight for the estate of dan fodio.

Naira obeying gravitational theory in an outstanding manner

dadebayo1:
How much is a bag of rice?

20k now

Oluwa comeoooooo we are finish they want to fry us like plantain.

I don hammer...

The first fifteen comments are not on the right thread

Wake me up when this happens.

Naija matter don tire person.