The naira traded at N310 to a dollar at the parallel market on Friday, amid expectations of an intervention by the Central Bank of Nigeria (CBN).
The Nigerian currency traded at N307 at the close of market on Thursday, showing a depreciation of one per cent.
However, it maintained N197 to the dollar at the official CBN’s window.
Traders at the market blamed the further fall in value, in spite of insinuations of an intervention at the foreign exchange market by the CBN, on demand for the greenback.
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1 comments
Since when we stopped exporting & producing anything but instead inport everything we use even toothpeaks, when our mega millions take our currency to the dollar land, student no longer school here but there, vacations are not spent here but there, when everything we want to do, we recognise them, we also making our currency of no value by thorning it into pieces, writing on it like women putting it on their bra or older ones fastens it with there piece of wrapper, with all these & many more why dollar be higher than NAIRA