Wednesday, 27 April 2016

Naira stays flat against dollar at N319 – N322 in black market

Naira stays flat against dollar
at N319 – N322 in black

recent findings shows that the naira has made no
significant strength against the dollar in the
black market.
This comes on the heels of report from our
Bureau De Change (BDC) sources that
nation’s currency is still hovering around
N319 – N322 as it was on Tuesday, April 26.
READ ALSO: Naira strengthens to N318 to
dollar in parallel market

“The dollar is still at N319 as it was
yesterday. It will likely stay like that
throughout this week.”
However, our Lagos based BDC source who
had informed us that said the nation’s
currency had crashed further to N322, said it
had strengthened slightly.
He said: “It is N321 as against the N322 it
was yesterday
It was gathered that the naira is expected
not to rise or fall significantly at the parallel
and official foreign exchange market all
through this week. This is owing to the fact
that the economy demand for foreign
exchange has eased after President
Muhammadu Buhari’s delayed signing of the
2016 budget.
But with the executive arm of the
government and the National Assembly
resolving their lingering face-off over the
2016 budget at a meeting on Tuesday, April
26, there are signs that President Buhari
would sign the document into law anytime
from now.