The question in the minds of Nigerians today is why is the Naira depreciating or why is the exchange rate of the dollar rising rapidly? This is a valid question given the sharp and persistent depreciation of the Naira since June 14 when the Central Bank of Nigeria, CBN announced new operational measures in the foreign exchange market. Since then, the Naira has depreciated by 21 per cent to N930 per dollar in the parallel market, and by 66 per cent to N781.34 per dollar in the official market, namely the Investors and Exporters, I&E window. This is more