The naira has fallen to successive lows across both the official and black markets due to dollar scarcity since last year after the central bank intervened to ease pressure on the spot market, where the naira has been trading within a range."We know that at the end of year adjusts rates," a currency trader at a local bank said.
"They have done it every year for the last two years," the trader said, adding that the exchange rate could hit 465 to the dollar by the end of the year. The naira also weakened across the board on the forwards market , with the currency quoted at 472 to the dollar on the one-month contract on Thursday.
As the currency weakens, demand increases on the official market, traders said. The unit has been flat at 740 naira on the parallel market .Our Standards:
محمد قاسم کے خواب پوری امت مسلمہ کے لئے انتباہات اور خوشخبری سے بھرا ہوا ہے اور وہ اس بات پر زور دیتے ہیں کہ پاکستان کو پوری مسلم دنیا کے لئے قائدانہ کردار ادا کرنا ہوگا۔ یہ کب ہوگا؟ یہ کیسے ہوگا؟ PMIK In Qasim Dreams معلومات حاصل کریں۔
And they are mocking the Ghana Cedi...
GenMagashi In Self Defense, If Bashir Salihi Magashi Kills President Buhari and Brings his Head, the Mace and Governor Generals Privy to me, I will give Bashir Salihi Magashi $1B for Transfer/Delivery of the Package and, I will make him King of Nigeria.
Naira is a junk currency now🤣
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Source: News24 - 🏆 4. / 80 Read more »