Family Lifers Forums

Create forums and topics you and your friends can discuss. You can see your friends activities, views and responses on all topics!

Home Forums Money Matters SHOCKING NEWS AS 500 NAIRA WILL BE EXCHANGE PER DOLLAR

This topic contains 1 voice and has 0 replies.
1 voice
0 replies
  • Creator
    Topic
  • #11838
    Victor
    Moderator

    The naira is close to exchanging at N500 per dollar after the Central Bank of Nigeria devalued the official rate of the currency.

    The naira plunged to N495 per dollar at the parallel market on Thursday.

    This is the highest rate the naira fell since July 2020 when it traded N490.

    The apex bank officially devalued the naira to N410 per dollar bowing partially to months of pressure by the International Monetary Fund to allow the forces of demand and supply to determine the country’s foreign exchange market.

    The rate is close to the Investors’ & Exporter (NAFEX) Windows where investors and exporters trade.

    At the I&E Window, the naira gained 80 kobo to trade at N411 per dollar.

    The bank had struggled with maintaining a single foreign exchange window.

    The bank had devalued the naira from N305 per dollar to N360/ dollar and N379 per dollar.

    In 2020, the CBN admitted the country had a foreign exchange backlog of over $2bn, according to the apex bank.

Share

You must be logged in to reply to this topic.

Share

Invite your friends to Familylifers

CLICK THE BUTTON BELOW TO INVITE YOUR FRIENDS TO CONNECT WITH YOU ON FAMILYLIFERS.

WEEKLY TOP LIFERS (MEMBERS)

  1. # 1Profile Photo
    Family Lifers
    12943 Points
  2. # 2Profile Photo
    Seyibabs8
    3168 Points
  3. # 3Profile Photo
    Kufekpo
    3088 Points
  4. # 4Profile Photo
    Chichi
    2362 Points
  5. # 5Profile Photo
    John Adeleke
    2238 Points

Members

Become a member of Familylifers.com

Enjoy these benefits!

  • Connect your friends
  • Solve Marriage and Relationship Problems
  • Showcase your skills and products in our MARKET PLACE for FREE
  • Drop your CV, get a job And lots more

New Report

Close