The Nigerian currency had been fluctuating between N315 and N320/dollar since last weekend, a situation which has drawn mixed feelings from speculators and Bureau De Change (BDC) operators. Their complaints stem from the fact that they believe the present exchange rate is not likely to get any better. While some of the speculators remain pessimistic about the fluctuating exchange rate, the BDC noted that they were not making profits, but believe it is better for Nigerians. On Tuesday, March 8, the exchange rate improved albeit not more than a paltry N2. The BDC operators informed that the naira has gained a little more than it did in the last 24 hours and that it will continue that way until the end of the week. “We now sell at N320 as against the N322 that the dollar was sold throughout Monday. I believe the price of the naira against the dollar may improve in the coming days. “And even if it does not get better, it is not likely to fall flat the way it did last two weeks,” an impeccable BDC operator informed on Tuesday afternoon.
This is really serious... The fluctuation of naira to dollar is making goods unstable....
Posts
0 comments:
Post a Comment