Naira depreciates against Dollar over forex scarcity

Naira slumped against the Dollar on Wednesday after closing at 950/$ at the parallel market as the forex crisis persists.

Ahmez Gazali, a Bureau De Change Operator in Wuse Zone 4 Abuja, confirmed the figure on Thursday morning.

Meanwhile, at the official market, the Naira closed at 758.12/$1 on Wednesday from N742.10/$1 on Tuesday, according to FMDQ forex data.

Last week, the Acting Governor of the Central Bank of Nigeria promised to clear the backlog of forex within two weeks.

Saga Gist recalls that on June 14, the apex bank floated the Naira at the forex market; however, the country’s currency continued to fluctuate despite the move.

Post a Comment