The Naira on Friday at the parallel market depreciated against three international currencies at the close of trading for the week. A on Friday in Lagos showed that the Naira depreciated by N1 or 0.45 per cent against the dollar due to high demand. It sold for N221 against the dollar from the N220 it sold on Monday, June 15.

The Naira also lost N27 to sell at N352 to the pound, representing 8.31 per cent depreciation from the N325 it traded on June 15.Besides, the Naira against the euro went for N245 compared with the N238 it sold on June 15, representing N7 or 2.97 per cent drop. The Naira against the dollar at Central Bank of Nigeria (CBN) official rate remained at N196.90, the rate since June 11.

But it fell by N7.96 or 2.61 per cent to the pound, selling for N313.31 from the N305.31 it sold on June 15. The currency also depreciated against the euro to sell for N224.58 compared with the N220.74 it traded on Monday.

A bureau de change operator, Mr Harrison Owoh said that the depreciation in all segments was due to a shortfall between demand and the foreign exchange available for sale. Owoh, who is the Managing Director of HJ Trust Investment Ltd., Lagos, said that a further shortfall in forex supply may lead to further depreciation.

Source:http://www.vanguardngr.com/2015/06/naira-depreciates-against-major-currencies/

Nooooo...not again!!!

again o

Yahoo guys!!!!


He don happen again o
Back to the laptop

Hian! Na wa o!

Hun... gat to pull some over-time , for extra dollars

Buhari should mind other business now and leave dollar......

ok

Ah dey come

The Naira also lost N27 to sell at N352 to the pound, representing 8.31 per cent depreciation from the N325 it traded on June 15.Besides, the Naira against the euro went for N245 compared with the N238 it sold on June 15, representing N7 or 2.97 per cent drop. The Naira against the dollar at Central Bank of Nigeria (CBN) official rate remained at N196.90, the rate since June 11.

Rather than make 1Naira equal to 1dollar as promised, I predict by Xmas it would be N400 to the dollar. Same failed policies of 1984 are about to be used on our economy in 2015. Anyone who thinks Bubu knows what he's doing needs psychiatric help.

everything that goes up must come down

donholy28:
And buhari say 1$ will be equal to 1#

When did he say so

Chai! Wey I still dey think say na 195naira

Sai baba

The president has no more power to stop the financial situation we are in as he has the power to stop the sun from rising. Its simple mathematics, you cannot spend what you don't have. The much reduced oil revenues that trickle down to almost every aspect of our economy cannot sustain spending. Coupled with massive holes in fiduciary accountability, not even Obama will touch NIgeria with a ten foot pole.

Math 101:
income: 10 Naira
Spending: 6 Naira
Corruption: 8 Naira
You do the math.

donholy28:
And buhari say 1$ will be equal to 1#

The ideot is busy taking pictures up and down.

mtssssssssssssssshhhhhhhhhhhhhhhhhhheeeeeeeeeeeeewwwwwwwwwwwww!!!

This is not funny at all. This is when you hate importing goods and prefer exporting

hmmmm

1$=1# ... still waiting patiently

Still on the mata..... Empty promises

6

Chai ! And Baba wanted to make it one to one against dollar

thats serious God help us and help naira also


check my signature for your cheap data

This is getting out of hand.

6

Change, change,change, which way Nigeria

7,8,9,10

ok