UPDATE; Naira Crashes To 1,621/$ At Official Market

The naira fell to a four-month low on Tuesday at the official window as it traded at 1621. 12/dollar compared to N1611. 40/dollar on Monday.

This marked a 0.60 per cent depreciation from the previous day’s close.

This is despite recent interventions of the Central Bank of Nigeria during which it sold dollars to authorised dealers and eligible Bureau De Change operators, suggesting that foreign exchange demand continues to outweigh supply.

“In the interim, we expect the naira to remain weak, driven by tight market liquidity due to the CBN’s limited capacity to significantly intervene in the FX market,” Cordros Capital Limited recently said in an update.

Posted: at 31-07-2024 03:34 PM (9 months ago) | Addicted Hero

,,,,, I always watch ur foolish comments,, there is no sense upstairs.  Can Nigeria do without Dollar? Stop exhibiting foolishness online,  always commenting like a mad person .

Posted: at 31-07-2024 07:02 PM (9 months ago) | Upcoming

why can't we do without dollars? It's not as if our economy solely depends on tourism!! i could have say Oh, people bring in dollar Listen up this una dependency on the dollar is just plain stupid and self-made shit!! shop!! 

Posted: at 2-08-2024 09:10 AM (9 months ago) | Grande Master