Exchange rate (22nd of July 2015)

          

   

          At the parallel market,the naira dropped further to 242.5 against the US dollar and there are speculations that it might drop further.

      The Acting President, Association of Bureau De Change Operators, Alhaji Aminu Gwadabe, said he expected the CBN to introduce some measures next week to curb the situation at hand.

"I believe the CBN will introduce some measures next week to stop the trend, otherwise the naira may hit 250 or even 270 later," he said.

         Guys,this is really affecting the price of commodities in the market as traders are fixing selling price based on the cost incurred on acquisition of their merchandise.Need be say that everyone is feeling the strain this time around.Hopefully,the apex bank will put up some measures to salvage this issue.