The United States dollar sold for N450 in the parallel market on Friday, showing a shallow and dry reflection of the foreign exchange market.
The President, Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe, told The PUNCH the N450/$ rate that closed the week was a reflection of the shallowness and dryness of the foreign exchange market. He said, “The crash of naira rate in the parallel market to a high of N450/$ was as result of the shallowness and dryness of the market.
The ABCON President said there was the need for the regulators to think outside the box in enhancing liquidity in the market.Following the lockdown in some states, the Central Bank of Nigeria had suspended sales of dollars to the Bureau De Change operators, following a request by ABCON to the CBN to grant it market holidays, given the ongoing challenges faced in local and global economies from the coronavirus pandemic.
quinkings Buy cryptos and keep 'cause ts gonna get worse than this..
quinkings We just getting started
This will affect a lot of things .
But, who is buying?
It is gonna get worse
sell those cows on thousand hills and get G&S sell and credit me...WORD
Chaiiiii So my dollar that I have been saving in my domiciliary account is useless 😭
Useless PEOPLE ooo
umarulk01 Mad oh! 🙆🏼♀️😂
Una never see anything. Sebi una dey praise una government for lockdown abi. D kind recession wey Nigeria go enter after lockdown even china no go fit pirate am. Covid Hunger pass commercialized covid19
Those who have it should sell to help keep the price down. In the meantime, the CBN should stop issuing forex for import of good 🇳🇬 can or it think we ought to have capacity to produce at home by now.
With the way things are going, dollar might even reach N1000 BuhariHasFailed
We are on our way to becoming Zimbabwe or Morth Korea. In the next 2-3 months it will be N1K to $1. Nigeria better start helping people to get food export license because agric may just be what saves us. We also need to start helping more Nigerians to leave so they can help.
They are heartless,,,find means to devalue Nigeria currency...wicked,selfish government,,is like when they want to do some international deals thats when they do this shit,,this government is corrupt,am disappointed 😔
You all should confirm before believing this people. They are not entirely honest
So so sad for our poor economy... Left for our government they are confused,, na God go redeem us from all these.. When a nation is not plan na so any little thing will affect us
Bubu should just resign.
Wahala dey o
What happen this government are wicked
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