Naira's free fall continues, trades N692/$ at parallel market | TheCable

Bureaux De Change operators to TheCable that they purchase the greenback at N685/$, make a gain of N7 and then sell at N692.

According to the traders, the persistent naira depreciation is due to increased demand by customers and the scarcity of the dollar.“I know a trader who wants to buy goods from China. He has been looking for $40,000 in this market but he has not gotten it since 10 am,” a BDC operator told TheCable. At the official market, the naira also depreciated by 0.09 percent to close at N429.43/$ on Monday, according to information obtained from FMDQ OTC Securities Exchange — a platform that oversees official foreign exchange trading.

To reduce the persistent FX pressures in the country, the World Bank and the International Monetary Fund have advised the Central Bank of Nigeria to

Every nation is experiencing free fall

When will naira hit 1k?

Where can I see naira chart ?, Please help

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Worsening Consumption, Savings Cripple Nigerian SMEs, Manufacturing FirmsAmidst the undercurrent of food inflation and skyrocketing market prices, the Naira is becoming weak and losing its purchasing power such that, it is becoming
Source: LeadershipNGA - 🏆 4. / 77 Read more »

USDC whale holdings percentage lowest in almost two yearsThe percentage of USD Circle (USDC) stablecoins held by major wallet addresses dropped to its lowest point in almost two years as the cryptocurrency market downturn continues.
Source: NigeriaNewsdesk - 🏆 10. / 63 Read more »