Utweets
|VIRAL VIDEO!! DID YOU MISS THE UPDATE? THE DATE WILL SHOCK YOU, SCIENTIST PROOFS, ANNOUNCED WHEN THE WORLD WILL END.The Naira has suffered a fresh setback, reversing its recent gains and sliding back to around N1,745/$1 on the parallel market. ...READ THE FULL STORY FROM SOURCE ...READ THE FULL STORY FROM SOURCE
The sharp reversal comes after the naira had briefly touched sub-N1,600 levels at the end of last week.
The exchange rate had earlier been quoted at around N1,685/$1. However, as business activities resumed fully, quotes quickly depreciated, suggesting that last week’s gains may have been a temporary respite, or “dead cat bounce.”
As of 10 am on Wednesday, December 11, Nairametrics reported that some P2P exchanges quoted N1,715/$1, while some IMTOs quoted N1,745. Stock trading apps like Bamboo and Trove quoted N1,730/$1 and N1,736/$1, respectively.
In contrast, the exchange rate between the naira and dollar in the official market closed at around N1,525/$1 on Tuesday, its strongest close since the EFEM was introduced.|VIRAL VIDEO!! DID YOU MISS THE UPDATE? THE DATE WILL SHOCK YOU, SCIENTIST PROOFS, ANNOUNCED WHEN THE WORLD WILL END.
Meanwhile, BDC operators attribute the naira’s weakening to speculators who continue to exert pressure despite the introduction of a more robust trading platform by the Central Bank of Nigeria (CBN).…Read -T.he.Full_Article.Here.
