Uncategories The Naira Hits All-time Record Low at Parallel Market...See Latest Exchange Rates

Saturday 27 August 2016



The Naira Hits All-time Record Low at Parallel Market...See Latest Exchange Rates

August 27, 2016
Nigeria's currency, the Naira reached at an all-time low on the parallel market on Friday.
 
According to DailyPost, the Naira hit at an all-time low of N412 per dollar on the parallel market on Friday.
 
This may not be unconnected to suspension of some banks from forex trading by the Central Bank of Nigeria, CBN.
 
Traders said some bureau de change operators have been finding it difficult to access their forex account and get dollar supply.
 
Table courtesy TheCable
 
Recall that on Thursday, the naira had closed at 409 per dollar on the parallel market. On the inter-bank market, it traded at 315 compared with 305 the previous day, as shares in some of the banks dropped by up to 7.8 percent.
 
Bank executives have been meeting central bank officials to resolve the forex issue as investors continued to dump their shares second day.
 
On the inter-bank market, the currency gained 0.2 percent to close at 305 naira to the greenback with traders attributing the rise to central bank dollar sale to prop up the unit.


Are You On youtube? subscribe to Hot GIST Channel Latest Updates - @Hot Gist

Are You On youtube? subscribe to Gospel World (which is also owned by Tony Gists) youtube Channel Latest Updates - @Gospel world

Are you on audio mack? Follow Tonygists on audio mack to listen and download to the latest Mfm sermons Latest Updates - @Tonygists

Follow Tonygists on LinkedIn to get more jobs opportunities Latest Updates - @Tonygists

Are You On youtube? subscribe to Honest Ose Channel Latest Updates - @Honest Ose

Are You On youtube? subscribe to Honest Web Solutions Channel Latest Updates - @Honest Web Solutions

Are You On youtube? subscribe to Xtremely Honest Channel Latest Updates - @Xtremely Honest

Are You On Twitter? Follow Us Now For Latest Updates - @tonygists

Are You On FACEBOOK? Like Our Page For Latest Updates - tonygists

Are You On FACEBOOK? Join Our Group For Latest Updates And Interactions - TonyGists


© 2024 Tonygists | Portions are © 2024 Associated Press. All rights reserved. This material may be published, broadcast, rewritten, or distributed.
Tony Odijie

Share This Post Via

Related Posts

Next
« Prev Post
Previous
Next Post »

Subscribe to: Post Comments (Atom)

Reliance Training and Management Consulting, a dynamic, fast growing indigenous entity, was established and duly registered with the aim to nurture, develop and innovate people and organisations through customized training, development and management consulting services, with excellent performance, deep sense of commitment, transparency, honesty and responsibility, to demonstrate the highest standard of technical and operational expertise.
 


 
Reliance is competently positioned to provide technical knowledge and skills relevant to practical management and business problems, to stimulate the creativity and innovation necessary to build a better community, a better nation and a better world with a committed mind set to contributing our best to the maximization of personal potentials and skills toward optimizing productivity and achieving organisational goals.
 
for more information click RELIANCE TRAINING AND MANAGEMENT CONSULTING

Ads