Business Naira Hits All Time Low at Interbank Market

[LequteMan]

The Nigerian Naira, during trading on Tuesday depreciated to its lowest value against the dollar.

"Nigerian naira traded at an all-time low of 350 to the dollar on Tuesday in a single interbank market trade of $100,000," Reuters said.

The currency was offered at 313 naira to the dollar and a total of $3.11 million had already been traded by 1230 GMT.

This isn't the first time the naira will hit rock bottom during trading at the interbank market.

It usually bounces back before end of trading for the day.

 

[ProfRem]

The Nigerian Naira, during trading on Tuesday depreciated to its lowest value against the dollar.

"Nigerian naira traded at an all-time low of 350 to the dollar on Tuesday in a single interbank market trade of $100,000," Reuters said.

The currency was offered at 313 naira to the dollar and a total of $3.11 million had already been traded by 1230 GMT.

This isn't the first time the naira will hit rock bottom during trading at the interbank market.

It usually bounces back before end of trading for the day.

Where is our Naira heading to? @cenbank

 

[curator]

Where is our Naira heading to? @cenbank

400:1 and hopefully that would be a converge rate and end the parallel market

 

[ProfRem]

400:1 and hopefully that would be a converge rate and end the parallel market

Hmmmmm. ....I can't wait to see the news headlines and reactions (analysts) and effects (household items)