Naira Slumps N260 To The Dollar In Record Slump At The Parallel Market
The Naira has fallen N260 to the dollar on the parallel market in what is a record slump.
It is the Naira’s worst slump in 42 years as the Central Bank has struggled all year to bolster the Naira.
The CBN’s multiple policies, which some have criticised as “trial and error” have failed to arrest the the Naira’s fall.
With two devaluations this year, sources say the Central Bank is considering a third devaluation.