The value of the naira further plunged to N361 the dollar at the parallel market on Tuesday, June 7, from N357 to the dollar which it was at the close of business on Monday, June 6.
The naira which surged to and remained stable at N350 in anticipation of the modalities of the flexible foreign exchange policy began to fall last week Friday, June 3, selling at N361 to the dollar on Tuesday despite a rise in global oil price.
The CBN had said it would stop selling foreign exchange to oil marketers as they were expected to source their foreign exchange from the parallel market.
