Expert Blames Hoarders

Expert Blames Hoarders, Speculators As Naira Depreciates To N850.22/$1

Naira depreciated at the official market yesterday as it moved from N839.48 to N850.22 at the Nigerian Autonomous Foreign Exchange Fixing (NAFEX), FMDQ Security Exchange Limited. Despite the decline, about $143.55million turnover was traded by investors and exporters. NAFEX is the reference rate for Spot FX operations in the Autonomous FX Market which comprises recognized …

Expert Blames Hoarders, Speculators As Naira Depreciates To N850.22/$1 Read More »

Expert Blames Hoarders, Speculators As Naira Depreciates To N850.22/$1

Naira depreciated at the official market yesterday as it moved from N839.48 to N850.22 at the Nigerian Autonomous Foreign Exchange Fixing (NAFEX), FMDQ Security Exchange Limited. Despite the decline, about $143.55million turnover was traded by investors and exporters. NAFEX is the reference rate for Spot FX operations in the Autonomous FX Market which comprises recognized …

Expert Blames Hoarders, Speculators As Naira Depreciates To N850.22/$1 Read More »

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