L
LequteMan
Guest
The Nigerian naira during the weekend fell to a new low against the dollar at the parallel market following continued scarcity of the greenback.
The naira was sold for 414/dollar across some black market segments in Lagos and Abuja on Sunday. It hit an all-time low of 412 against the greenback at the parallel market on Friday, after closing at 409/dollar on Thursday.
CBN's suspension of some commercial banks also contributed to the scarcity experts say. This is in addition to increased demand by summer travellers and parents paying schools fees of their children studying overseas.
Punch
The naira was sold for 414/dollar across some black market segments in Lagos and Abuja on Sunday. It hit an all-time low of 412 against the greenback at the parallel market on Friday, after closing at 409/dollar on Thursday.
CBN's suspension of some commercial banks also contributed to the scarcity experts say. This is in addition to increased demand by summer travellers and parents paying schools fees of their children studying overseas.
Punch
