https://nairametrics.com/2024/02/01/bre ... JVycjWSU14Naira has fallen to a record low of N1,515 per dollar following strong demand on the parallel market, also known as the black market.
This represents 1.32% or N20.00 weaker than N1,495 it traded in the morning today according to Nairametrics tracker.
This despite analysts’ optimism that the new FX rules by the apex bank would shore up dollar supply from commercial banks and stabilise naira in the immediate terms.
The Central Bank of Nigeria (CBN) had yesterday released a new circular addressing suspected cases of excessive foreign currency speculation and hoarding from Nigerian banks.
The current depreciation is unparalleled and stands as the lowest point in the historical performance of the Naira, reflecting the severity of the current economic challenges.
Nigerian Naira Falls To Record Low Of N1,515 /$1 At The Parallel Market
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The Nigerian Naira had reportedly fallen to a record low of N1,515 per USD at the black market. This report is from Nairametrics:
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Cbn using artificial measures to rescue naira? Nigeria needs a combo of both fiscal and economic policies to rescue the currency
Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. đź’°
The only thing that goes up and later comes down in this country is "nothing"
When money realizes that it is in good hands, it wants to stay and multiply in those hands 🤲💸💵💰
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Facto.CarolinaBaby1 wrote: ↑February 3rd, 2024, 7:24 am The only thing that goes up and later comes down in this country is "nothing"
Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. đź’°
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