News Formal

'Dollar scarcity now scary' -- naira slumps to N1,225/$ at parallel market

  • 📰 thecableng
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 80%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Nigeria's independent online newspaper

Bureaux De Change operators, popularly known as ‘abokis’, told TheCable that the high FX rate was largely driven by volatility and the scarcity of the greenback.The currency traders quoted the buying rate of the dollar at N1,215 and the selling price at N1,225 per dollar, leaving a profit margin of N10.FMDQ OTC Securities Exchange

“We are committed to encouraging liquidity based on reforms that have been made at the moment, on the fiscal side and the monetary side. And together with the restoration of trust and confidence we think the FX flows will return,” the minister said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

'Dollar scarcity now scary' -- naira slumps to N1,225/$ at parallel marketNigeria's independent online newspaper
Source: thecableng - 🏆 2. / 80 Read more »