While the uncertainties surrounding the
Nigerian currency against the American
collar continues, new rates have emerged on
the parallel market.
The naira has fallen against the dollar.
The rates on the black market ended last
week with the naira standing at N310
against the dollar, with many Bureau De
Change (BDC) operators noting that there is
no way they can control the changes being
experienced with the rising and falling of the
rates.
But on Monday, March 7, 2016, BDC
operators confirmed to our correspondent
that the rate has risen to N322 with
suspicions in some quarters that the price
may skyrocket before the end of the day.
“We really do not know what is happening on
the market at the moment, but this morning,
we were selling for N322 as against the
N310, N320 that we sold last weekend.
“It is even surprising that the amount is not
worse than what we have at the moment
because we only have about N2 difference
from what we had last weekend and what we
have this new week. Let us just hope that we
do not have further drop in the exchange rate
before this week runs out,” our credible
source informed.
Check out abdulhayyu blog infographic updates on
the value of the Naira against the US Dollar,
we’ve missed you!
A lot has happened since we published our
last update, and it finally seems like the
exchange rate is starting to behave itself.
Title : NEW EXCHANGE RATE FOR NAIRA AGAINST DOLLAR
Description : While the uncertainties surrounding the Nigerian currency against the American collar continues, new rates have emerged on the parallel m...