Economy bites harder as naira crumbles against dollar, check out new rates for Thursday

At a time when Nigerians are yet to come to terms with the prevailing fuel scarcity and epileptic power supply in the country, the country’s currency has refused to give the populace any reason to smile. Instead, the uncertainties surrounding the exchange rate of the naira against the dollar has kept up with its inconsistency. […]

The post Economy bites harder as naira crumbles against dollar, check out new rates for Thursday appeared first on Nigeria News today & Breaking news | Read on NAIJ.COM.

At a time when Nigerians are yet to come to terms with the prevailing fuel scarcity and epileptic power supply in the country, the country’s currency has refused to give the populace any reason to smile.

Instead, the uncertainties surrounding the exchange rate of the naira against the dollar has kept up with its inconsistency.

Earlier in the day, there had been reports about Nigeria’s Gross Domestic Product (GDP) declining to 2.11%, an all-time low since the return to democracy in the giant west African country.

As at 3.00pm on Thursday, March 10, Naij.com’s Bureau De Change (BDC) sources informed that the fluctuation in prices of the foreign exchange fell on the negative side as the naira fell against the dollar.

One of our sources informed that the new exchange rate now stands at N322 and are pessimistic about any improvement in the coming days.

“With the way things are in the country presently, there is no possibility that the naira will fare better in the coming days because the price suddenly rose in a few hours.

“It stays at N322/dollar right now. Hopefully, things will get better in the next few days, but the hardship in the country right now is killing,” our BDC source disclosed.

The post Economy bites harder as naira crumbles against dollar, check out new rates for Thursday appeared first on Nigeria News today & Breaking news | Read on NAIJ.COM.