THISDAY findings from most of the parallel market
traders at the Murtala Mohammed International Airport and other areas around
Ikeja yesterday attributed this to an increase in supply of the greenback from
autonomous market sources, especially from Nigerians abroad who visited the
country for the yuletide.
The interbank official forex market which was shut
down for the yuletide is expected to be re-opened on January 4, 2016.
The naira had depreciated to about N280 to the dollar
about three weeks ago as a result of dollar scarcity that hit the market.
The declining oil prices as well as the unwillingness
of the Central Bank of Nigeria (CBN) to devalue the naira amidst constrained
reserves has continued to worsen foreign exchange (forex) liquidity position of
Nigerian banks, Renaissance Capital (RenCap), a financial advisory and research
firm, stated.
Thisdaylive
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