The Nigerian local currency, on Tuesday, December 6, slumped from 305 to 315 against the U.S dollar at the Interbank or Spot FX Market, while the Pound exchanged for N401.
This year has seen the naira plunging the most in its 43-year history, opening at 197 in January at the official market and 265 at the parallel market.
At the parallel segment of the foreign exchange market, the naira maintained it’s descent falling to N485 from N484 against the dollar.
Currency Traders at the market have continued to blame the downward slide of the naira on the raid on the market by DSS officials.
Meanwhile, in a recent interview with Reuters, the Vice-President Yemi Osinbajo, has said that his office was working with the Central Bank of Nigeria, CBN, to make the foreign exchange market more flexible and more reflective of actual demand and supply.
