NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
Dollar may sell for N320 this week: Report

By News Express on 18/01/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,850


The woes of the naira in the foreign exchange (forex) market will continue this week, with the country’s bartered currency possibly exchanging for N320 per US dollar, a report this morning in the authoritative Guardian said.

“The persistent crash of the naira on the parallel market may not have reached its climax as speculations are rife that the local unit will hit N320 to the dollar next week, if the shortage persists,” the newspaper said.

“Already, the initial response to the regulator’s announcement to end dollar intervention in the BDC’s segment has remained sharp, with demand for dollars rising,” The Guardian added.

It was referring to the announcement, late last week by the Central Bank of Nigeria (CBN) that it has discontinued its daily auction to banks and that the banks are now to begin self-sustenance by sourcing forex by themselves.

“The development may mean that the regulator will now be intervening in the foreign exchange market occasionally and will leave banks with the determination of how much of the deposited foreign currencies by the customers will be disbursed back to them,” the report said.

CBN had on Monday unveiled a new foreign exchange plan, in which bureau de change (BDG) operators were shut out of the official weekly intervention.

This led to the naira crashing to N305 to the dollar at the parallel market as at the weekend. The official interbank market, however, remained unchanged at N199.50 per dollar.

•Photo shows CBN Headquarters.

Source News Express

Posted 18/01/2016 11:41:59 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
The truth about Akwa Ibom Pension Law —Gov’nor...

FG hands over Marina Presidential Lodge to Lagos...

My wish for Nigeria, By Friday Olokor

Bombing: HURIWA calls for Civilian JTF in Abuja...

Famakinwa’s death a blow to Southwest regional integration...

National Library urges FG to fund libraries at...

Online Publisher raises the alarm over alleged DSS...

Breaking News: Boko Haram pushes for Maiduguri

Umahi swears in acting LG chiefs, AG, JSC...

NCC clamps down on illegal registration centres

Zenith Bank declares N785.19bn as 2017 gross earnings...

Boko Haram: Nigeria attacks US for blocking arms...

 

Latest News Of Nigeria’s Pride and Government conduct in Ogoniland, By Fegalo Nsuke Foreign Affairs Minister, Nnamani, others escape death as thugs disrupt Enugu APC Congress IPOB: Jewish worshippers dare police APC congresses: Six states produce 12 factional chairmen 2019: Buhari can’t win without nPDP – Saraki Kaduna appoints 77 new district heads APC faction upsets Tinubu, holds separate congress in Lagos Ohanaeze youths back Ijaw youths on restructuring Rampaging herdsmen kill 6 in another deadly attack in Benue Okorocha kicks as Imo APC holds congress 110 confirmed dead in Cuba plane crash; black box found Abdullahi says APC won’t recognise parallel congresses

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (344,897 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (341,509 views) Shameless Genevieve Nnaji exposes breasts in public (273,014 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (224,464 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (204,943 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (202,429 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (176,657 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (158,966 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (150,008 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (143,127 views) Lagos plane crash: Journalist releases victims’ names (139,802 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (132,221 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (40) Business & Economy (3,135) Business Verdict (43) Columnists (853) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (497) Features (594) Global Business Monitor (273) International (1,964) Interview (149) Live Commentary (28) Love Matters (119) News (35,434) Opinion (950) Pidgin (10) Politics (5,019) Religion (741) Sports (1,512) Stock Watch (28) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement