Hos did the exchange rate of naira to dollar change over this week? Learn the news and find out what to expect.
Over the last months Nigerians had much to worry them. One of such things is the exchange rate of Nigerian naira to USD and its ups and downs. Black market naira value decreased almost twice compared to the former course and parallel market value has dramatically changed.
Naira to dollar near future prediction
The experts predicted slight weakening of Nigerian naira to US dollar on parallel market. It traded at N322. The cause of the weakening was hidden in the words of Nigerian president Buhari. He opposes devaluation of naira to dollar and sees no good in what has happened in the past.
The exchange rate during the last week was on the level of N320 and it shifted to N321-322 on weekend. At this the official course remains the same – N197 as it was set by CBN. Next week traders think the government would increase the amount of spending. This may cause challenges for the forex market and US dollar to Nigerian naira may change once again. The experts assure the change would be a slight one and Nigerians have nothing much to worry about.
However, if the president would not sign the Budget 2016 and would not start implementing it, dollar to naira rate may come out of control and drastically change again. Follow the news and share your opinion on the situation.