Sad: Naira crashes seriously to dollar, new rates emerge this Tuesday
The Nigerian currency which had been on an unconvincing mode for weeks, has again crashed against the American dollar. According to sources at the bureau de change, the Nigerian currency which traded for about N355/dollar on Monday, now stands at N360. The sources who expected serious regret over the recent turn of events, informed that […]
The post Sad: Naira crashes seriously to dollar, new rates emerge this Tuesday appeared first on Nigeria News today & Breaking news | Nigerian newspapers.
The Nigerian currency which had been on an unconvincing mode for weeks, has again crashed against the American dollar.
According to sources at the bureau de change, the Nigerian currency which traded for about N355/dollar on Monday, now stands at N360.
The sources who expected serious regret over the recent turn of events, informed that Nigerians are yet in for a really hard time following the dillydallying of the naira against the dollar in recent months.
NAIJ.com’s short exchange monitor.
While the federal government is yet to openly declare its plans to devalue the Nigerian currency, it is believed that there are plans to ensure a devaluation of the Nigerian legal tender is effected within a short period of time as a way of winning the favour of the IMF.
“Presently, all I can say is that the naira doesn’t stand any chance against the dollar on the parallel market because the changes have been enormous in recent weeks.
“If you go on the streets, you’ll discover that the BDC guys don’t even have enough to trade with because the commodity is scarce. This is the more reason the naira will keep falling in value against the dollar. Inflation has also set in, the highest level since 2010; what more can we say?
“I believe everything will normalise soon, though. We just have to be positive about the whole thing, that’s what I really think,” our source informed.
Meanwhile, you can trade on our bureau de change platform here, for a chance to meet real buyers and sellers of forex.
The post Sad: Naira crashes seriously to dollar, new rates emerge this Tuesday appeared first on Nigeria News today & Breaking news | Nigerian newspapers.