Due to shortage of dollars, the naira at the parallel market
on Thursday depreciated drastically as desperate importers scrambled for
dollars to meet their obligations overseas.
on Thursday depreciated drastically as desperate importers scrambled for
dollars to meet their obligations overseas.
The currency had closed at 318 against the greenback on
Wednesday, after hitting 313.5 and 310 on Tuesday and Monday, respectively.
Wednesday, after hitting 313.5 and 310 on Tuesday and Monday, respectively.
Some Bureau De Change Operators say they fear the naira will
fall further in coming days if the central bank fails to lift the dollar
restriction.
fall further in coming days if the central bank fails to lift the dollar
restriction.
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