The plunge of the Naira seems unending as the Nigerian currency as at yesterday, February 15, is selling at N204 to the Dollar.
At the black market, the Naira-Dollar exchange rate is said to be as high as N209.
The Pound Sterling on the other hand is selling for 314 to the Naira at the Bureau De Change segment and N310 at the black market.
The fall of the Naira continues despite attempts made by the Central Bank of Nigeria (CBN) to stem the trend.
According to Bloomberg, the Naira has tumbled 17 percent over the past three months and may further decline to an exchange rate of N263 to the dollar.
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4 comments:
Why this keeps devaluating? As of three days ago it was sold at rate of 283, now is 204 to dollars. hmm.
I no dey buy dollar if they like make them do whatever they want.
Who is that fool who said he no dey buy dollar? even if you no buy dollar don't you see it affects economy? fool
No mind them my g, some people don't even know what is happening in the country at all. Their own is to just eat and sleep, that is all. they are not current at all, how they will know what the devaluation is all about?
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