Naira Suffers Further Crash Against The Dollar

The Naira on Tuesday suffered further loss against the dollar at the parallel market.

This comes after Central Bank of Nigeria, CBN, intervened at both the interbank market and Bureau De Change window.

The currency exchanged between N405 (buying rate) and N410 selling rate at the parallel market.

This was weaker than N405 traded yesterday.

Also, the Pound Sterling and the Euro closed at N490 and N430 respectively on Tuesday.

At the Bureau De Change, the Naira was sold at N362 to a dollar, while the Pound Sterling and the Euro traded at N500 and N428 respectively.

However, trading at the interbank market saw the Naira close at N306.20 to the dollar.

Source: Dailypost

Tags from the story
niara crush

3 Comments

  • In other countries, government pegs the exhange rate either inter-bank and “blackmarket” and nobody dares to go above that. That is where the government has failed and may never succeed the way they are going

  • In other countries, government pegs the exchange rate both at inter-bank and “black-market” and nobody dares to go above the limit. That is where the government has failed to take control and may never succeed the way they are going. CBN has not been in charge for so long. What a shame, a lion struggling with rats in the jungle? not possible na.

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