The naira crashed to a record low of N345 to the dollar and N463 to the British pounds at the parallel market on Monday, February 15.
The local currency eased 1.47 per cent from Friday’s close of N340 to the dollar, while the official rate remained at N197.50 to the dollar at the close of trading yesterday.
Traders said the black market rate had weakened as Nigerians with school and medical bills to pay abroad anticipated that the Central Bank would stop allocating currency for such payments.
The apex bank has however refuted such plans saying it has no immediate intention to end foreign exchange sales for school fees and medicals.
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Naira Crashes To Record Low of N345 Against Dollar As Panic Buying Soars: The naira crashed to a record low of… https://t.co/dpanjdjh6U
Naira Crashes To Record Low of N345 Against Dollar As Panic Buying Soars: The naira crashed to a record low of… https://t.co/2LIq20KaWv
Naira Crashes To Record Low of N345 Against Dollar As Panic Buying Soars: The naira crashed to a record low of… https://t.co/qdwF2rSUcl
RT @BizWatchNigeria: Naira Crashes To Record Low of N345 Against Dollar As Panic Buying Soars: The naira crashed to a record low of… http…
RT @BizWatchNigeria: Naira Crashes To Record Low of N345 Against Dollar As Panic Buying Soars: The naira crashed to a record low of… http…