Connect with us

Hi, what are you looking for?

TVCE Articles

Dollar crashes again at parallel market

TVC E. The greenback on Monday crashed against the Naira, as the Nigerian currency gained five points at the parallel market.
The News Agency of Nigeria (NAN) reports that the Naira traded at N460 to a dollar, after speculators had forced it 3 points down amid liquidity boost on Friday.
However, the Naira weakened against the Pound Sterling but maintained its Euro rate as it traded at N560 and N480, respectively.
At the Bureau De Change (BDC) window, the Naira was sold at N399 to a dollar, while the Pound Sterling and the Euro closed at N580 and N525, respectively.
The Nigerian currency also traded at N305.50 at the interbank window.
In other segments of the market, Deposit Money Banks (DMBs) and Travelex, an International Money Transfer Services Operator, sold the Naira at N370 to a dollar.
Traders expressed the hope that the strengthening of the Naira would reposition the economy for greater productivity.
They, however, appealed to the CBN to sustain the liquidity boost in the market so that the Naira could sustain its gains against the dollar.
NAN reports that some Nigerians, however, expressed worry that the gains of the Naira against the dollar had not translated in the reduction in the prices of goods and services. (NAN)

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Sports

Roger Federer was left stunned after DNA tests revealed that Myla and Charlene, whom he believed to be his daughters, are not biologically related...

Entertainment

J. Cole has released the second episode of his vlog series, “Might Delete Later,” treating fans to fresh music and behind-the-scenes glimpses from his...

Movie

Lance Reddick, known for his roles in “The Wire” and the “John Wick” series, has passed away at 60, confirmed by his representative, Mia...

Tech

Reportedly, Apple is considering a collaboration with Google to incorporate Gemini-powered features into iPhones. This potential partnership would give Google a significant edge, as...

Copyright © TVCCommuniation owner of TVC Entertainment