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Wow: Naira Crashes Further To 300 Against Dollar

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Wow: Naira Crashes Further To 300 Against Dollar

Jeez I’m in shock.

I was still lamenting to a friend yesterday about dollar exchanging for 290 and now its up again.

On Tuesday, the Naira again depreciated to exchange at N300 to the dollar at the Bureau De Change (BDCs) segment of the foreign exchange market following the Central Bank of Nigeria (CBN’s) announcement to stop the sale of foreign exchange.

The currency exchanged for 300 in Kano, 292 in Abuja and 290 in Lagos, against the United States dollar.

The naira was traded to the dollar at N278 on Monday Jan. 11

I remember those days when dollar was like 50 naira and Nigerians were lamenting bitterly. Little did we know we were just getting starting. Like seriously 2 dollar is 300 Naira??? WOW.

 

Moji Delano is a Lawyer turned Blogger, Entrepreneur, Digital Media Strategist/expert.

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3 Comments

3 Comments

  1. Ahmed

    January 13, 2016 at 1:04 pm

    This is bad, really bad! I hope something is done soon enough to the exchange.

  2. Bomi

    January 13, 2016 at 2:08 pm

    Not even the new administration have the remedy to Naira crash…

    Lord have mercy, we look to you…

  3. Kay

    January 13, 2016 at 5:15 pm

    all things being equal……. it will bounce back soon IJN

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