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Tuesday, August 31, 2021

Naira Falls To All-time Low Of 527 Naira To A Dollar

 The naira extended its decline on Monday, sliding to an all-time low of 527 against the dollar at the parallel market. The local currency, which has been on a downward trend in recent weeks, fell to 524 against the greenback on Friday from 522/$1 on Thursday.

At the Investors and Exporters’ window, the naira, however, strengthened to 411.63/$1 on Monday from 412/$1 on Friday, according to FMDQ Group.

The naira had strengthened to 506/$1 on August 4 after plunging to

525/$1 at the parallel market on July 28, a day after the Central Bank of Nigeria stopped foreign exchange sales to Bureaux de Change.

The CBN Governor, Mr Godwin Emefiele, had on July 27, at the end of the Monetary Policy Committee meeting, announced the stoppage of forex sale to the BDCs, saying they had turned themselves into ‘agents that facilitate graft and corrupt activities of people who seek illicit fund flow and money laundering in Nigeria.’

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Prince Peters

CBN is confused! Don't believe their policies is helping for stability of the currency.....just tell me how an importer will survive this ....so sad!

Henry Ukpono Obong

Before V
Buhari government expeirs,naira may get to 1k for 1$

Cache Diamond

It will hit 1k for $1 soon

Diplomatic Alicho James

By this time tomorrow,$1 would be equal to #1
Mark my words😂😂😂😂😂😂😂

Ayokunnu Ishola Ajibola

I thank God it got this far in less than 30 years that buhari has taken over. I overheard the APC saying they will rule for 30 years. Which means after buhari, he fit be buhari as no other candidate around. The other one is in hospital, even this version is now stronger than him. 30-6= 24. Yeah, God should help us chase away these demons as soon as possible. Before 2015, Nigeria needed deliverance and everyone thought the deliverer has come, but now, Nigeria need greater, extended, urgent deliverance.

Chris N Ndifeministries

This is a bad sign from the bad leadership that God did not install.
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