Its value fell further by 1.68 per cent against the dollar at the official market on Thursday October 14th....
At the Investor and Exporter foreign exchange window, the local currency opened at 413.15/$1 on Thursday but closed at 422.07/$1.
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The naira had depreciated by 0.19 per cent to 415.10/$1 on Wednesday after closing at 414.30/$1 on Tuesday.
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At the parallel market, the dollar was bought at N565 and sold for N570, according to some operators in the black market.
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The naira had depreciated by 0.19 per cent to 415.10/$1 on Wednesday after closing at 414.30/$1 on Tuesday.
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At the parallel market, the dollar was bought at N565 and sold for N570, according to some operators in the black market.
from punch
Sad! Exchange rate is a key economic indicator of growth. The dollar may likely not return to normal now with the way the economy is going. No major export, increase in prices of goods and continuous government borrowing.
ReplyDeleteThis is sad... May God have mercy
ReplyDeleteI'm just tired of the whole thing. I'm not happy at all.
ReplyDeleteHow terrible
ReplyDeleteThey should build factories and industries and watch the Naira gain value naturally
ReplyDeleteHmmmm
ReplyDeleteHow sad!
I thought aboki fx was the problem na
ReplyDeleteBut the CBN governor said Aboki fx was the cause so what is happening now. Nigeria na the more you look the less you see
ReplyDelete