Naira hits 510/$ at parallel market | Nigeria News Today. Your online Nigerian Newspaper

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The naira lost three points at the parallel market to exchange at N510 on Wednesday after closing at N507 on Tuesday.



The pound sterling and the euro exchanged at N625 and N535 respectively.

Trading at the bureau de change (BDC) window saw the naira close at N399 to a dollar, while the pound sterling and the euro traded at N626 and N537, respectively.

At the interbank window, the naira traded at N305.50 to the dollar.

Traders at the market attributed the current onslaught on the naira to activities of speculators and currency hoarders.

The Nigerian currency has continued to depreciate at the parallel market in spite of the steady rise in the nation’s foreign reserves.

Post a Comment Default Disqus

  1. Why can't our Economists come together and help us to solve this big problem? Do you people know where we are going? Please our Politicians the so called leaders have to call attention of expert to solve this oooo

    ReplyDelete
  2. ...... and the 'Economy' is coming out of recession. Useless Liars!

    ReplyDelete
  3. The only solution is stop importation of all food items in the country.

    Why do we import petrol, kerosene and diesel at the we rendered our refineries useless?

    ReplyDelete
  4. The recession is deep, let no one tell us lies. And CBN should stop selling to their cronies. Enough is enough.

    ReplyDelete

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