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LequteMan
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The Nigerian naira on Wednesday continued depreciating against the dollar following scarcity of the greenback and strong demand for it amid dwindling liquidity.
The local currency eased to 318 to the dollar on the parallel market, having closed at 312 the previous day. At the official interbank window the naira was stable around 197.
“We have demand coming from importers (paying) …their due obligations, while dollar supply has dried up,” said Aminu Gwadabe, head of the association of bureau de change operators.
Stock index however climbed to 24,000 points for the first time in almost a month.
Reuters
The local currency eased to 318 to the dollar on the parallel market, having closed at 312 the previous day. At the official interbank window the naira was stable around 197.
“We have demand coming from importers (paying) …their due obligations, while dollar supply has dried up,” said Aminu Gwadabe, head of the association of bureau de change operators.
Stock index however climbed to 24,000 points for the first time in almost a month.
Reuters
