0
Sponsored Links

Importers and foreign investors lament as the scarcity of foreign exchange gets stronger on the parallel market.  The value of the naira , according to reports,  dipped abysmally on Wednesday on the parallel market while it  reportedly remains stable on the inter-bank market.
It sold for N480 to the dollar yesterday while at the interbank end of the foreign exchange market, the naira sold at N305.25 the same rate it was quoted on Monday according to data provided by FMDQ. At the parallel market, the value of the naira had dropped by 1.5 per cent from N473 which it sold on Monday.

The naira had remained relatively stable around N465 and N470 at the parallel market last week before it dipped to N473 on Friday last week which it also sold on Monday. Meanwhile, the external reserves of the country continued to rise steadily despite the activities of the militants in the oil-rich Niger Delta region.

This according to traders may be due to the Central Bank of Nigeria’s decision not to intervene in the interbank market by selling dollars to shore up the value of the naira. The external reserves which had dipped to a low of  $23.89 billion as at October 19, 2016 has risen by 3.33 per cent.


Latest figures given by the apex bank on its website showed that the 30 day moving average of the country’s external reserves stood at $24.695 billion as at November 28, 2016.

Follow Us on Twitter!

Like Us on Facebook!

Do You Need a Sugar Mummy, Sugar Daddy, Girlfriend, Boyfriend Wife or Husband? If Yes, Then Click Here For Details



OMG! See How These Angry Women Exposed Their Nak.edness in Public During a Violent Fight
OMG! See How These Angry Women Exposed Their Nak.edness in Public During a Violent Fight
SHAMEFUL ACT! Grandmother Cau ght Having S*x With Her Grandson In The Village (Warning: Only 18+)
SHAMEFUL ACT! Grandmother Cau ght Having S*x With Her Grandson In The Village (Warning: Only 18+)
 OMG! Man Cuts Off Cousin’s Head Because Of Money (WARNING: Very Graphic Content)
OMG! Man Cuts Off Cousin’s Head Because Of Money (WARNING: Very Graphic Content)
 World Biggest Anaconda Snake Found In America’s Amazon River
World Biggest Anaconda Snake Found In America’s Amazon River
Christians Wake-Up!!!!! If you are a Christian and you DONT share this, you are Wicked!
Christians Wake-Up!!!!! If you are a Christian and you DONT share this, you are Wicked!
UNBELIEVABLE!!! A Lady’s Bre ast Cut Off in Kaduna Because She Stole?
UNBELIEVABLE!!! A Lady’s Bre ast Cut Off in Kaduna Because She Stole?

Post a Comment

 
Top