Naira Falls To N249 For A Dollar At Parallel Market

The Naira on Wednesday continued to depreciate at the parallel market as it exchanged for N249 to the dollar. The naira lost N1 on Wednesday afternoon to close at N249, as against its previous value of N248.

It, however, appreciated at the official interbank window as it gained N0.03 to close at N196.97. Traders at the parallel market affirmed that the challenges at the Bureaux de Change continued to have its toll on the parallel market.

The inability of some BDCs to render proper accounts of forex transactions earned about 1600 of them some sanction from the apex bank. Meanwhile, the high cost of dollar had been having multiplier effects on most import-based businesses, leading to unhealthy price increases.

What do you think?

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Written by Abel Abel

Abel Abel is your leading blog that focus on breaking news, entrepreneurship and relationship


Be the First to Comment!

Notify of

Dokpesi Remanded In EFCC Custody, Pleads Not Guilty To Alleged N2.1bn Fraud

Diplomatic Circle To Honour Jonathan In Switzerland, Jan 21