Naira now goes for 208 (215) to a dollar

The naira, on Friday, depreciated against the dollar as it traded at N208 from the N191.50 it sold for on Monday, January 19. (it's about N215 as of today)

The News Agency of Nigeria (NAN) reports that the new rate had made the naira to lose N16.50 within five days. The CBN’s website, however, put the naira against the dollar at N167.50, while the pound sold for N253.20 and the euro stood at N193.89.
he development has resulted into speculation in the market and caused ripple effects on other currencies. NAN correspondent who visited some bureau de change and black market operators in Lagos said that they could not give rates to the pound sterling and the euro. Dealers who preferred anonymity said that there was scarcity of dollars in circulation. They said that the Central Bank of Nigeria (CBN) had stopped selling forex to the bureaux de change since last year.

The dealers added that the recent review of trading positions for the forex trading to 72 hours also contributed to speculation in the system. The effect, they added, was that the naira could depreciate further by next week. NAN recalled that the CBN in November 2014 devalued the naira. (NAN)

Comments

Olajumoke Orisaguna Stuns In New Photos

Bread-seller turned model Olajumoke,who is currently shooting for her new reality show really looks amazing as she stuns in several outfits. Here are more photos below......

Justin Bieber Billboard magazine cover

Made him look a little like a lesbian. The 21 year old covers the new issue of Billboard magazine where he revealed he has trust issues and feels constantly judged .... " It might seem awesome from the outside,' he told the publication, 'but I’m struggling. Certain things broke my trust with people....I felt like people were judging me all the time.,' he admitted. 'I came out alive. I came out swinging. But I was close to letting [fame] completely destroy me,' he revealed. See more photos... .

The reason behind Halle Berry and Olivier Martinez split

Last week rumors spread that Halle Berry and third husband actor Olivier Martinez may be headed for divorce. And now there are reports that the reason behind the split is Halle and Olivier Martinez' 6 month old son... From Star Magazine Friends say that the duo are leading increasingly separate lives because they can’t stop fighting. “They have had some extremely vicious arguments, and every small thing is causing issues,” a source says. “Olivier thinks Halle is spending too much time working and trying to lose weight and not enough time on their baby. Halle is tired of Olivier telling her what to do. Both of them are very hot tempered and stubborn.

FAJILAWA ENTERTAINMAINT

Search This Blog