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Naira slumps to N900 against Dollar

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1 year ago

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NAIJA NEWS: Naira slumps to N900 against Dollar [New Naija News] » Naijacrawl
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Nigeria’s currency, the Naira, slumped to N900 against the Dollar at the parallel market on Wednesday.

Read Also : Gunmen Kidnap 13 in FCT's Bwari Area Council, Demand N900 Million Ransom


Ahmed Gazali, a Bureau De Change Operator, confirmed the rate to the Daily Post on Thursday morning.

Meanwhile, the Naira traded at N773.42 in the official market against the Dollar.

The figure represents a marginal depreciation of 0.35 percent compared with N770.72, the value of the naira traded against the Dollar on Tuesday.

The development comes barely 48 hours after the resumption of the Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun.

The Daily Post reported that the Naira traded at N850/$1 at the parallel market earlier this week.

The Central Bank of Nigeria last week announced new policy guidelines for BDCs and the Price Verification Portal to stymie forex speculators.

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Ojo Sunday Victor, A Professional Graphics Designer, and a skilled Content Writer in Entertainment, News and Sport Update.!An Undergraduate in Ladoke Akintola University of Technology (LAUTECH, Ogbomoso). Read More

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