Naira Depreciates Further in Official Market, BDC Traders Adjust Exchange Rate
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#f4e83713 ver:1.81

The Nigerian naira continues to depreciate in both the official and parallel markets, with BDC traders adjusting their exchange rates. Factors such as availability of foreign currencies, demand, inflation rates, government regulations, economic policies, and political events contribute to the fluctuation. The black market exchange rate for $50 to naira is ₦72,500.00 - ₦74,000.00. Despite improved liquidity and restrictions on BDC activities, the naira faces pressure. The CBN Governor attributes the volatility to seasonal demand. The black market rates for exchanging $100 to naira are subject to change and influenced by demand, supply, economic conditions, government policies, and political stability. #NairaDepreciation #ForeignExchangeMarket...

#newstr #Naira #UsDollar #ExchangeRate #BdcTraders #ForeignExchangeMarket #CentralBankOfNigeria 

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