Dollar sells for N450 in parallel market

  • 📰 MobilePunch
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The dollar sold for N450 in the parallel market on Friday, showing a shallow and dry reflection of the foreign exchange market.

Impact of the crude oil prices which had been fluctuating, and fell to as low as $21, had also been taking its toll on the strength of the naira.

He said this was coupled with the impact of trading on the FMDQ market on future derivatives and the negative territory of our crude oil prices. Gwadabe added, “It is our resolve to enhance liquidity in the foreign exchange market and help discover a true market exchange rate that is devoid of speculative and hoarding activities.”

Gwadabe said the operators were preparing to return to the market after the regulator lifts suspension on forex.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

N450 is still comforting. Better tighten your belt because it is tilting towards N1000. No improvement at all. Ghana, an African country has her currency higher in value than Naira. We shall overcome...

anuramon Mtchew 🤦‍♂️ 🤦‍♂️ 🤦‍♂️😭😭😭😭

As if they swear for Naira Everytime 🙄🙄🙄

Hahahaha evil and abominable jungle called nizooria is going down

He don happen...

How much last Ni perpendicular Market?

Soon it will be 500

BDC is 500 argue with your keyboard.... 🎹🎹🎹

We must learn to look inwards and manufacture what we consume. That's a big lesson from the coronavirus pandemic. China is presently exporting her sub-standard medical consumables while the whole world scrambles for them. A big lesson indeed.

Scammers still dey collect dollars oooo... Lol

This is probably not the end of the beginning. It sure looks like the beginning of the end 😩

This thing will still reach 1k

One of the reasons we need to ease the lockdown

Who is buying dollar at this period?

It means that despite the lockdown our people still eat and drink dollars. Why must we use parallel market rate to determine the value of our currency. Despite the fact that we have the official rates.

Expect N500 soon . Nigeria dollars inflow has dried up . FDI need there money back , sold Nigeria Bond but can’t remit . Things fall apart

Global markets now belong to the big boys who can think, innovate and diversify. The only means of livelihood and survival for Nigeria is crude oil and this has been relegated. So, Nigerians should brace up for hard times, yet to come. This is what your leaders have caused you.

Naija, how far gan sef? Which kind Life be this? 450 to a dollar? Shey Na like this we go dey dey?

It was 360 in the last quarter of last year. Now it's 450. Since I have know the dollar price to the naira has never dropped. It just continues to increase . International markets are killing the third world.

Yahoo Boys you time is now

Will definitely hit 480 by end of this week.

Just wait till businesses open and the needs for Fx spike. With fallen oil price and lack of diversity in the economy, there is little CBN can do to cushion the effects

Like my comment I will follow all likes. Follow back o

🙆🏻‍♀️🙆🏻‍♀️

There's no parallel market moreover what sort of market is Nigeria running 23 millions people are unemployed

🙄🙄🙄

Hi guy... KINDLY FOLLOW ME AND HAVE YOUR FOLLOW BACK TESTIMONY..... I wanna get to 5k followers please guys help 😫😫😫..... No cheating please 😓😓😓

Oooh, jusu 🤦‍♀️

Chai it is finished

Plunging!!! Plunging!!! Plungging. We die here.

We are still going to borrow from IMF

Wow

If we had good government we would have succeeded during this period. Nigerians must get sense now and decide your future come next election

That is when I deplore our mentality in this country. We can't even travel abroad, why dollar has to be this expensive? Ṣe ń kan ṣe wá ní?

Depression warming up.

Wahala wa o

Leave dollar alone.

450? Na wow ooo

Jackpot

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:

 /  🏆 8. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

COVID-19: Tension in Nasarawa overnight business transactions from KanoSome traders in Keffi, capital of Nasarawa , who specialise in selling fabrics are still moving their goods in the night from Kano despite the high rate of coronavirus infection in Kano. Keffi is not capital of Nasarawa State please Keffi isn't Nasarawa Capital please, take note GovUmarGanduje Plz close every roads that leads into kano. People r dying in ur state. So lock down everywhere. Plzzzz
Source: TheNationNews - 🏆 6. / 69 Read more »

We’ve taken steps to mitigate COVID-19 impact on capital market — SEC DGThe acting Director-General, Securities and Exchange Commission, Ms Mary Uduk, tells IFEANYI ONUBA the steps being taken by the commission to protect the capital market from the negative impact of ... You mean the same steps you took to mitigate northern qualified candidates out of the secretive and lopsided recruitment scandal that you're grilled by the House of representatives erstwhile ago? Exactly no thanks Wetin concern dog with family planning, please first thing first .
Source: MobilePunch - 🏆 8. / 63 Read more »