Naira's free fall continues, now exchanging between N562 and N570 for 1$

 


The Nigerian Naira hit a new time low on Wednesday September 15, as it is now exchanging between N562 and N570 for 1$ in parallel markets. 

 

Though data recorded on the FMDQ securities exchange window where forex is officially traded, showed that the naira closed at N412.06 per $1 at the official window on Wednesday September 15, the same rate it exchanged on Tuesday September 14, walk-in customers exchanged between N562 to N567 for $1. Similarly, checks in Kano, Kaduna and Lagos showed that the prices fluctuated between N564 and N570/1$.

 

Some BDCs confirmed huge demand for forex at the moment with some of the operators disclosing that most of the demands were from SMEs that were having difficulty accessing forex from banks.

 

The forex turnover remained unchanged with $175.10 million recorded at the spot market, the same rate posted in the previous session on Tuesday.

 

The domestic unit hit an intraday high of N400.00 and a low of N414.90 at the trading session before closing at N412.06 on Wednesday.

No be me write am  Na Dis person

Comments

Post a Comment

Popular posts from this blog

Lesson for all The Southerners and Middle Belt: Beware of Sanusi

Image
Yugos Albert have this to say could it be true! To all the Southerners expressing their opinions for or against Sanusi, I say take it easy. Let us siddon, buy popcorn and coke and be watching this movie. There might be more to this than meets the eye. Whether this crisis is real or not, one thing I know about the North is that they never lose sight of their true goal or do anything to sabotage it: Total domination of Nigeria is their only ambition. When it comes to that, they stand together and they plan far ahead. Don't forget the level of lies Sanusi peddled against GEJ before he was made the Emir of Kano. Under Obasanjo, with Okonji-Iweala as Finance Minister, and Soludo as CBN Governor, Southern Banks became very powerful, financing infrastructural and economic growth not only in Southern Nigeria but even in other African countries. Nigeria was on the way to becoming a true financial and economic powerhouse for the Black World. Southern Banks were a threat to Foreign C...
Read more