Naira Crashes To New Low On The Parallel Market

 The naira, on Thursday, appreciated at the importer & exporter (I&E) window by 0.1 percent to N411/$1 but depreciated by 0.4 percent to N495/$1 in the parallel market.


This week, the currency has lost N9 or 2.3 per cent at the black market, according to data on abokiFX.com, a website that collates parallel rates in Lagos.

On Monday, CBN adopted the Nigerian autonomous foreign exchange (NAFEX) rate dropping the official market rate of N379/$1.

In November, the naira had hit N500 per dollar on the black market  after CBN announced the devaluation of the naira and urged Bureau de Change operators not to sell dollars higher than N392 to end-users.

Speaking at the end of the monetary policy committee meeting on Tuesday, Godwin Emefiele, governor of the apex bank, debunked depreciation of the currency, saying that Nigeria still operates a managed-float exchange regime.

“The NAFEX, you see, it may be N410, N409 or N411, N412 or the next day 400, so it not fixed, but it is not floating. We are still running a managed- float exchange rate,” he had said.

“This is because we are still monitoring the market. We are running a managed-float where we monitor the market to ensure the right things are happening for the good of the Nigerian economy.”

A managed float FX regime is when exchange rates fluctuate daily, but CBN attempts to influence the rate by buying and selling currencies to maintain a specific range.


No comments

Thank you for reaching out to us. We are happy to receive your opinion and request. If you are need advert or sponsored post, We’re excited you’re considering advertising or sponsoring a post on our blog. Your support is what keeps us going. With the current trend, it’s very obvious content marketing is the way to go. Banner advertising and trying to get customers through Google Adwords may get you customers but it has been proven beyond doubt that Content Marketing has more lasting benefits.
We offer majorly two types of advertising:
1. Sponsored Posts: If you are really interested in publishing a sponsored post or a press release, video content, advertorial or any other kind of sponsored post, then you are at the right place.
WHAT KIND OF SPONSORED POSTS DO WE ACCEPT?
Generally, a sponsored post can be any of the following:
Press release
Advertorial
Video content
Article
Interview
This kind of post is usually written to promote you or your business. However, we do prefer posts that naturally flow with the site’s general content. This means we can also promote artists, songs, cosmetic products and things that you love of all products or services.
DURATION & BONUSES
Every sponsored article will remain live on the site as long as this website exists. The duration is indefinite! Again, we will share your post on our social media channels and our email subscribers too will get to read your article. You’re exposing your article to our: Twitter followers, Facebook fans and other social networks.

We will also try as much as possible to optimize your post for search engines as well.

Submission of Materials : Sponsored post should be well written in English language and all materials must be delivered via electronic medium. All sponsored posts must be delivered via electronic version, either on disk or e-mail on Microsoft Word unless otherwise noted.
PRICING
The price largely depends on if you’re writing the content or we’re to do that. But if your are writing the content, it is $60 per article.

2. Banner Advertising: We also offer banner advertising in various sizes and of course, our prices are flexible. you may choose to for the weekly rate or simply buy your desired number of impressions.

Technical Details And Pricing
Banner Size 300 X 250 pixels : Appears on the home page and below all pages on the site.
Banner Size 728 X 90 pixels: Appears on the top right Corner of the homepage and all pages on the site.
Large rectangle Banner Size (336x280) : Appears on the home page and below all pages on the site.
Small square (200x200) : Appears on the right side of the home page and all pages on the site.
Half page (300x600) : Appears on the right side of the home page and all pages on the site.
Portrait (300x1050) : Appears on the right side of the home page and all pages on the site.
Billboard (970x250) : Appears on the home page.

Submission of Materials : Banner ads can be in jpeg, jpg and gif format. All materials must be deliverd via electronic medium. All ads must be delivered via electronic version, either on disk or e-mail in the ordered pixel dimensions unless otherwise noted.
For advertising offers, send an email with your name,company, website, country and advert or sponsored post you want to appear on our website to omodjk(at)gmail(dot)com

Normally, we should respond within 48 hours.

Sponsored Partner's Advertisement