A Bureau De Change operator, Mistila Dayyabu, disclosed this to the Daily post
According to the BDC operator, the Naira is expected to appreciate further below the N1000 per dollar mark during the week.
“The Naira is selling between N1000 and 1050 per dollar on Monday. As the week goes on, the Naira will appreciate further to below N1000 per dollar,” he said
The development came days after the Naira emerged as the best-performing currency in April, according to Goldman Sachs.
For months now, Naira has continued its appreciation against the dollar. The Naira moved from N1,900 in February to N1,000 at the parallel market.
Meanwhile, Nigerians have lamented that the Naira’s appreciation has not impacted the prices of goods and services.
The National Bureau of Statistics’ latest inflation report showed that food inflation rose to 40.01 per cent in March 2024.
According to the BDC operator, the Naira is expected to appreciate further below the N1000 per dollar mark during the week.
“The Naira is selling between N1000 and 1050 per dollar on Monday. As the week goes on, the Naira will appreciate further to below N1000 per dollar,” he said
The development came days after the Naira emerged as the best-performing currency in April, according to Goldman Sachs.
For months now, Naira has continued its appreciation against the dollar. The Naira moved from N1,900 in February to N1,000 at the parallel market.
Meanwhile, Nigerians have lamented that the Naira’s appreciation has not impacted the prices of goods and services.
The National Bureau of Statistics’ latest inflation report showed that food inflation rose to 40.01 per cent in March 2024.
By dailypost
I hope price of food items also reduce
ReplyDeleteI hope so too.
DeleteI hope so ooooooo
DeleteForeign Rice is now 64,000 from 80,000. So I heard from a wholesaler telling my sis on the phone.
DeleteIt is well.
Where?
DeleteSome good news
ReplyDeleteWe keep hearing dollar has dropped but food sellers will never drop price of food items. When dollar was high, you keep hearing na dollar cause why the price of food or things high. Now that dollar has dropped to 1k what is their excuse for not dropping price of food stuffs. Greedy people everywhere 🙄 😒
ReplyDeleteVery greedy lot.
DeleteOver greedy
DeleteI do hope too my sister cos our market women find it difficult to reduce price but to increase no dey hard them. It is well with us
ReplyDeleteThank God. More appreciation in the future 🙏.
ReplyDeleteGod bless 9ja!
I still wonder why prices of things remain up despite the dollar crash, cos then if you ask why are things expensive, the only thing you hear is dollar this dollar that, okay dollars is coming down now , aren't we supposed to enjoy some relief?? We need government to set us price regulatory bodies i
ReplyDeleteThank God! More we hope
ReplyDeleteEverybody just likes to form holy; most of us are mean at heart. You were adjusting your price by the minute when dollar was going up but now your hand dey pain you to drop price.
ReplyDeleteThe most painful part is when you go to buy those things, they will call the market to know the current price to sell to you. Now they don’t call others again but still sell at high price.
DeleteThe price of things are still high probably because those wholesalers bought in stock and in high prices, so they want to sell back all the goods in high prices in other for them not to loose.
ReplyDeleteExactly! The Naira's appreciation hasn't impacted the prices of goods.
ReplyDeleteNa only in Nigeria.
Fasting Christian, it is better for you to eat then to starve yourself and still confess negatively about your life. Ask people in diaspora if commodity prices have dropped when inflation reversed or cost of production reduced. What you expect is what you keep getting so what right have you got to complain? Little challenge, you declare with your own mouth that things are not good for you. Na wa.
DeleteI was almost tempted to save my money in Dollars it was going to keep climbing up. thank God I did not. I have 26million naira in savings and i am waiting for a good mortgage to do in Abuja
ReplyDelete