L
LequteMan
Guest
The Nigerian naira on Thursday fell further to N400 per dollar at the parallel market, due to continued demand for and scarcity of the greenback.
This follows a depreciation to N390 to the dollar on Wednesday.
Analysts have attributed the recent depreciation to huge demand for forex by holidaymakers seeking to travel abroad. Some however say the demand is beyond the normal summer rush.
They linked the development to the activities of speculators and significant demand by manufacturers and importers whose demand was not being met at the interbank market.
This follows a depreciation to N390 to the dollar on Wednesday.
Analysts have attributed the recent depreciation to huge demand for forex by holidaymakers seeking to travel abroad. Some however say the demand is beyond the normal summer rush.
They linked the development to the activities of speculators and significant demand by manufacturers and importers whose demand was not being met at the interbank market.
