Naira's Fall Continues, Now Exchanging Between N562 And N570 For 1$
The Nigerian Naira hit another time low on Wednesday September 15, as it is currently trading somewhere in the range of N562 and N570 for 1$ in equal business sectors.
However information recorded on the FMDQ protections trade window where forex is formally exchanged, showed that the naira shut at N412.06 per $1 at the authority window on Wednesday September 15, a similar rate it traded on Tuesday September 14, stroll in clients traded between N562 to N567 for $1. Also, checks in Kano, Kaduna and Lagos showed that the costs varied somewhere in the range of N564 and N570/1$.
Some BDCs affirmed tremendous interest for forex right now with a portion of the administrators uncovering that the greater part of the requests were from SMEs that were experiencing issues getting to forex from banks.
The forex turnover stayed unaltered with $175.10 million recorded at the spot market, a similar rate posted in the past meeting on Tuesday.
The homegrown unit hit an intraday high of N400.00 and a low of N414.90 at the exchanging meeting prior to shutting at N412.06 on Wednesday.
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