L
LequteMan
Guest
The Nigerian Naira has continued its free-fall against the dollar, crashing to N325 per dollar at the close of business on Thursday, Punch reports.
The fall was due to scarcity of the greenback as desperate importers scramble to meet their obligations. Demand keeps piling, adding more pressure on the currency.
The naira remained pegged at N197 to a dollar at the official market.
The CBN's strict foreign exchange policies has been for the depreciation, with many calling for a devaluation of the Naira. The federal government and the hierarchy at CBN remain unmoved in their decision not to devalue the currency.
The fall was due to scarcity of the greenback as desperate importers scramble to meet their obligations. Demand keeps piling, adding more pressure on the currency.
The naira remained pegged at N197 to a dollar at the official market.
The CBN's strict foreign exchange policies has been for the depreciation, with many calling for a devaluation of the Naira. The federal government and the hierarchy at CBN remain unmoved in their decision not to devalue the currency.
