Huge Losses For Speculators As Dollars Crashed To #805 At Black Market - Business - Nairaland
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| Huge Losses For Speculators As Dollars Crashed To #805 At Black Market by wwwihy: 8:18am On Aug 16, 2023 |
The dollar has crashed to between N805 to N790 at the parallel exchange market on Tuesday. CBN announced plans to take critical decisions to reverse the slide of the naira in the next few days, thereby resulting in significant losses to the speculators. The acting CBN governor, Folashodun Shonubi, dropped the hint on Monday while briefing State House reporters after a meeting with President Bola Ahmed Tinubu at the Presidential Villa, Abuja. One of the BDC operators at Zone 4, Ibrahim Muhammad said: “They have just sent the BDCs bidding eligibility list to us. Nobody can predict what will happen next.If this happens after the meeting, what will happen after the CBN comes up with a new intervention policy to shore up the Naira can just be imagined. So, for now, we are waiting to see what happens tomorrow(Today). It may appreciate a little, but it may also crash further. It is still being exchanged between N800 and N790 as closing on Tuesday” |
| Re: Huge Losses For Speculators As Dollars Crashed To #805 At Black Market by Nice2023(m): 8:23am On Aug 16, 2023 |
This would be a good news honestly. |
| Re: Huge Losses For Speculators As Dollars Crashed To #805 At Black Market by xtocom: 8:28am On Aug 16, 2023 |
Is the Crash crashed? We all know how much was dollars please! |
| Re: Huge Losses For Speculators As Dollars Crashed To #805 At Black Market by imoh4king(m): 8:13pm On Aug 16, 2023 |
The Forex market will always react to fundamental news release such as CBN intervention plans or meeting, but the question is for how long and in what direction. 1 Like |
| Re: Huge Losses For Speculators As Dollars Crashed To #805 At Black Market by 4Play(m): 10:06am On Jan 28 |
The "good old days" of N800 to 1USD. |
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