The naira, on Friday, January 13, slid crashed at the parallel or black segment of the foreign exchange market, trading at N497 against the United States Dollar.
The volatility in the market, which has further weakened the Naira has been linked to the lingering dollar shortage.
Also, the local currency crashed against the British Pound Sterling trading at N597 and exchanging for N515 to the Euro.
Meanwhile, at the official interbank or Spot FX window of the forex market, the Nigerian currency closed at N305.00 to a dollar.
At the BDC window, the Naira exchanged for N399 the greenback, while the Pound Sterling and the Euro closed at N600 and N515, respectively.
Despite current market outlook, , President of the Association of Bureau De Change Operators of Nigeria, ABCON, Alhaji Aminu Gwadabe has expressed hope that the nation’s currency will make a come back this new week.
He added that the Central Bank of Nigeria, CBN, would be selling about 25 million dollars to BDCs this week to ease liquidity challenge in the Market.
