Hmm there’s fire on the mountain 🔥
On Thursday, 9th September 2021, the exchange rate between the naira and the US dollar closed at N411.67/$1, at the official Investors and Exporters window.
Naira depreciated further against the US dollar on Thursday, to close at N411.67/$1 compared to N411.5/$1 recorded at the close of trade on Wednesday, 8th September 2021, representing a 0.04% fall.
The fall has fueled price instability as many businesses rely on the black market for dollar sales, even though the CBN has said banks have been asked to meet all legitimate requests.
Naira again on Friday 17th September 2021, plunged to N570 against the dollar, from about N520 it sold two weeks ago at the parallel market.
Now from the look of things, it’s obvious that naira is heading to N1000/$ this coming weeks or months. Are we gonna survive this?
What can be done to salvage this situation at the moment? Can you proffer a lasting solution?
Let’s hear from you.
You Got Appointed As CBN Governor Right Now, How Are You Going To Save Naira From Crashing Against Dollar?