Not Again! Naira Slumps Barely 48 Hours After It Strengthened Against The Dollar

1
75

naira-Dollar

The naira has again depreciated at the parallel market barely 48 hours after it strengthened against the dollar.

According to the News Agency of Nigeria (NAN), the naira lost N2 to exchange at N242 to the dollar, as against its previous value of N240.

Meanwhile, the official inter-bank rate remained at N197 to the dollar.

w-initiative

Traders at the market said that in spite of the biweekly sale of forex to Bureaux de Change (BDC’s), the currency of the biggest economy in Africa continued to slide.

They attributed the development to the difficulty encountered by some BDC operators in disposing their forex due to the apex banks regulation on forex sales.

SEE ALSO: Naira Rebounds, Appreciates Against Dollar At Parallel Market


Got a news tip/information for us? Email info@thesheet.ng

Follow us on twitter @thesheetng

BBM Channel: C0042057A

Like us on Facebook @ www.facebook.com / The Sheet

This is a 2015 Copyright of thesheet.ng. You may wish to request express approval from thesheet.ng to republish

SUBSCRIBE TO TheSheet TV

YOUR REACTION?
  • Nawaooo 
  • OMG 
  • LOL 
  • Amazing 
  • So sad 
  • Boring 
FavoriteLoadingRead it Later
Facebook Comments
SHARE
Previous articleBuhari Has Failed Us – APC Youths
Next articleRings, Fingers And Their Meaning…
Kitan Badmus
Kitan Badmus is an Associate at Thesheet.ng. He believes that uniqueness and novelty form the sure path to success. He has a degree in Drama and Performing Arts and cannot have enough of writing. He is obsessed with the Barcelona Football Club.

1 COMMENT

Leave a Reply