Uncategories Bad News: Naira Crashes at the Black Market...

Wednesday, 12 July 2017



Bad News: Naira Crashes at the Black Market...

July 12, 2017

The high rate of demand for the dollar has affected the value of the greenback in the parallel market according to a latest financial report. 

 
 
The naira Tuesday depreciated to N368 per dollar in the parallel market owing to demand pressure.
 
Vanguard survey revealed that the parallel market exchange rate rose to N368 per dollar yesterday from N367 per dollar on Monday. This implies N1 depreciation of the naira as against the 50 kobo appreciation on Monday.
 
The naira also depreciated against the dollar in the Nigeria Autonomous Foreign Exchange Market (NAFEX) also known as the Investors and Exporters window.
 
According to the Financial Market Dealers Quote (FMDQ), the indicative exchange rate for the window rose to N363.33 per dollar yesterday, up from N361.86 per dollar on Monday, translating to N1.47 depreciation of the Naira.
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Reliance Training and Management Consulting, a dynamic, fast growing indigenous entity, was established and duly registered with the aim to nurture, develop and innovate people and organisations through customized training, development and management consulting services, with excellent performance, deep sense of commitment, transparency, honesty and responsibility, to demonstrate the highest standard of technical and operational expertise.
 


 
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