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Naira Falls Again At Parallel market - Business - Nairaland

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Naira Falls Again At Parallel market by sirequity(m): 9:24pm On Dec 21, 2016
THE Naira on Wednesday fell further to N492 to a dollar at the parallel market, from N490 it closed on Tuesday, the News Agency of Nigeria (NAN) reports.

The Pound Sterling and the Euro closed at N605 and N505 respectively.

At the Bureau De Change (BDC) window, the Naira traded at N399 to a dollar, CBN rate, while the Pound Sterling and the Euro closed at N604 and N510, respectively.



The Naira remained stable at the official interbank window, exchanging at N305.25 to a dollar.

Against the backdrop of the call for the abolition of the parallel market, Alhaji Aminu Gwadabe, President Bureau De Change Operators of Nigeria (ABCON) said it was a welcome development.

“The scrapping of multiple markets outside the purview of the CBN will be a welcome development.

“The existence of multiple rates is highly unacceptable,’’ Gwadabe said.



NAN reports that Reuters mentioned on Tuesday of plans by the Ministry of finance to liaise with the CBN to ensure the scrapping of the parallel market.

Source: http://www.socialtimesng.com/2016/12/naira-falls-parallel-market/

Re: Naira Falls Again At Parallel market by dingbang(m): 9:26pm On Dec 21, 2016
Meanwhile the President will travel to Australia next time to go and have lunch with the president...




To God be the Glory.
Re: Naira Falls Again At Parallel market by eezeribe(m): 10:05pm On Dec 21, 2016
Dangote already predicted early this year, that it would fall to 500 naira to a dollar, before Christmas...

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