Thursday, 22 September 2016

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Nigeria Naira exchange rate to Pounds and Dollars reach incredible high!

Image result for naira exchange rate

The rate at which the Naira exchange rate keeps falling is mind boggling.The Nigerian currency yesterday depreciated against the three major currencies in all the segments of the Forex market. The Naira fell at the parallel market to N428 against the dollar, and the Naira exchange rate to pounds didn't do any better either at a rate of N550 against the Pound Sterling and N468 per Euro.

The currency had exchanged for N424, N550 and N471 against the dollar, pound sterling

and the euro, respectively on Tuesday.


Image result for naira exchange rate

Image result for naira exchange rate

The funny thing is Nigerians find themselves at a double edged junction.While every Nigerian wants the country to prosper and the exchange rate drop,everybody that i know in diaspora and that includes your truly wants it to stay at this rate longer so they can make some profit by sending some money home.
Now i know that is a very selfish measure to take,but that is human nature for you,people will take care of their needs first before the collective.

But i seriously hope this Naira exchange rate news brings a better report soon and comes down,we can't continue like this surely.







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