Naira Drops Again Against Us Dollar At Parallel Market - Politics - Nairaland
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| Naira Drops Again Against Us Dollar At Parallel Market by sayyid(m): 10:27am On Aug 12, 2015 |
On Tuesday, August 11, 2015, the Nigerian
currency dropped against the US dollar at the
parallel market.
Traders says that the drop was driven by
demand mainly from individuals travelling
abroad for summer holidays and importers.
According to Reuters, the naira was quoted at
224 to the greenback at the black market.
At the official interbank market, the
dollar costs 197 since February.
Harrison Owoh, an operator of Nigerian
Bureaux de Change (BDC), said: “We’ve seen a
surge in dollar demand since Friday.”
He stated that the bank sold around $160m to
BDC’s last week to increase dollar supply.
The source notes that BDCs are allowed to
sell up to $4,000 as personal travelling
allowance and $5,000 as business travelling
allowance.
Last week the naira was appreciated to 216
at the parallel market after banks had started
denying their customers opportunity to make
cash deposits of dollar, pound and euro into
their domiciliary accounts. www.naij.com/515575-naira-drops-224-dollar.html |
| Re: Naira Drops Again Against Us Dollar At Parallel Market by INTROVERT(f): 10:28am On Aug 12, 2015 |
China devalued their currency this week. |
| Re: Naira Drops Again Against Us Dollar At Parallel Market by alex81(m): 10:30am On Aug 12, 2015 |
 not again |
| Re: Naira Drops Again Against Us Dollar At Parallel Market by jaybee104(m): 10:30am On Aug 12, 2015 |
Naira  |
| Re: Naira Drops Again Against Us Dollar At Parallel Market by ammyluv2002(f): 10:36am On Aug 12, 2015 |
Even with all these CBN wahala? What's the point then? |
| Re: Naira Drops Again Against Us Dollar At Parallel Market by Bevista: 11:27am On Aug 12, 2015 |
INTROVERT:By only 1.9%. What's your point? |
(1) (Reply)
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