Naira drops against dollar at parallel market, remains same at Bureau de Change

- The naira on Wednesday, March 20, drops a little in value to the US dollar

- The Nigerian currency at the parrallel market traded for N358.2 to a dollar as against N358

- At the Bereau De Change, the currency, however, traded at N360

The naira on Wednesday, March 20, lost marginally to the dollar at the parallel market in Lagos exchanging at N358.2 to the dollar, weaker than N358 traded on Tuesday, March 19.

The pound sterling and the euro closed at N472 and N408, respectively.

At the Bureau De Change (BDC) segment, the naira traded at N360 to the dollar, while the pound sterling and the euro closed at N472 and N408, respectively.

Trading at the investors window saw the naira closing at N360.40 as market turnover stood at 129.18 million dollars.

PAY ATTENTION: Download our mobile app to enjoy the latest news update

Meanwhile, Legit.ng previously reported that a new report by a multi professional service network, Price waterhouse Coopers, popularly known as PwC predicted that the Nigerian currency may drop in value between the range of N390 to N415 to a dollar by 2019.

While predicting that an unpredictable change in the oil market may crash the value of naira to dollar at the foreign exchange floor, PwC, in its report titled "Nigeria Economic Outlook Top 10 themes for 2019" disclosed that foreign market may be stable depending on the global oil value.

According to the report, the foreign reserves may also reduce in 2019 as a result of elections, adding that petrol price may be re-adjusted from N145 per litre based on continuation of fuel subsidy or full deregulation.

NAIJ.com (naija.ng) --> Legit.ng: Same great journalism, upgraded for better service!

Can 1 Naira ever become 1 US dollar again on the Forex market? | Legit TV

Source: Legit.ng

from Nigeria News today & Breaking Naija news ▷ Read on Legit.ng 24/7 https://ift.tt/2WkkBRn
via EDUPEDIA24/7

Comments

Nigerian Academy Of Science Inducts First Female President

The Nigerian Academy of Science has inducted a professor of Parasitology/Epidemiology, Ekanem Ikpi Braide, as its 19th President on Thursday. In a statement issued by Oladoyin Odubanjo, the Executive Secretary of the Academy, Braide is the Academy’s first female President in 44 years of existence. It read, “Braide was a member of the national committee that achieved the laudable feat of guinea worm eradication in Nigeria. “She has a rich professional experience as a researcher and an administrator. In July 2010, Professor Braide was honoured by the President of Nigeria with the award of Officer of the Order of the Federal Republic (OFR) for her contribution to disease control in Nigeria. “She was nominated by the Honourable Minister of Health to serve in the Ministerial Expert Advisory Committee on COVID-19 Health Sector Response (MEACoC-HSR). “Professor Braide served as Vice-Chancellor, Cross River University of Technology (CRUTECH) Calabar, Nigeria (2004 to 2009) and as P...

NLNG Signs Letter Of Intent On Delayed Gas Expansion Project

The Nigerian Natural Liquefied Gas LTD has signed a letter of intent for the engineering, procurement and construction of its long held up Train Seven project. In a statement released by the company on Wednesday, it said that the $10bn project will be executed by a consortium of Italian firm Saipem, Japan’s Chiyoda and South Korea’s Daewoo. The statement reads, “The project will form part of the investment of over $10bn including the upstream scope of the LNG value chain, thereby boosting the much needed Foreign Direct Investment profile of Nigeria.” Managing Director of NLNG, Tony Atta, said in 2018 that the Final Investment Decision would be made in the fourth quarter of that year. This did not however, materialize. According to the release, the project will have a four to five-year execution time after the signing of the FID. The project is expected to add an extra 8 million tons per annum of gas to the 22 mtpa currently exported by the company. Oil News AddThis :...

Former Maritime Agency Boss, Buba Galadima, Accuses AMCON Of Witch-hunt After Property Takeover

A former Director-General of the Nigeria Maritime Agency, Buba Galadima, has accused the Asset Management Corporation of Nigeria of witch-hunt after the agency took possession of his business and assets on Tuesday in Abuja. Galadima, an ardent critic of President Muhammadu Buhari, claimed that he did not borrow money or have unpaid debt with Unity Bank, which lodged a complaint against him and occasioned AMCON’s move on Tuesday. The properties taken over include House No. 15, Addis Ababa Crescent, Wuse Zone 4, Federal Capital Territory, Abuja and House No. 4, Bangui Street, Wuse 2, also in Abuja. Reacting to the situation, Galadima said, “This is an attempt to disgrace and break me down. This is injustice and an attempt to humiliate me. "But I am unbreakable and they can never silence me. They sacked me and over 50 people that sleep in the apartment. "We don’t know where to go. We will remain on the streets. We will remain on the streets until God provi...

EDUPEDIA247

Search This Blog