Naira exchanges N460 to dollar on parallel market

THE naira on Monday fell by 1.09 per cent to N460 on the parallel market. The naira decline followed President Muhammadu‘s directive to the Central Bank of Nigeria (CBN) to stop dollar sales for food and fertiliser imports. On the official market supported by the CBN, the naira traded at N381 to the dollar, while it was quoted at N385.83 naira on the spot market yesterday. Buhari last Thursday directed the CBN to stop selling foreign exchange for those imports, similar to an order issued last year. Nigeria faces its worst economic crisis in four decades triggered by an oil

By |September 15th, 2020|Categories: News|Tags: |0 Comments
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