BVN Fear Latest Factor Affecting NAIRA - Investment - Nairaland
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| BVN Fear Latest Factor Affecting NAIRA by adebrain(m): 8:23pm On Nov 09, 2015 |
According to reports people are shunning the use of bureau de changes (BDC) in order to avoid submitting their BVN details to purchase US Dollars. They are taking the demand for US Dollars to the parallel market leading to fall in Naira value. The Naira fell to 230 against the USD yesterday from 225 day before. The BVN requirement for BDC transactions just kicked in and the fear among currency hoarders and speculators has increased. The CBN should not be worried by this phenomenon as legitimate Dollar transactors will continue to work with BDC and it is only the illegal currency speculators who will avoid using BDC's. CBN should in our opinion increase the interest rates to support the Naira and create yet more panic among the speculators and currency hoarders. Source: http://www.ebtsconsults.com/2015/11/bvn-fear-latest-factor-affecting-naira.html |
| Re: BVN Fear Latest Factor Affecting NAIRA by Seunbukola187(m): 8:30pm On Nov 09, 2015 |
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