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Naira Falls N280 Against The Dollar

In what has been a bad week for the Nigerian Naira, the Naira once again slumped to N280 against the dollar on the parallel market.

It is a record low for the Naira having fallen to N262 just yesterday.

Increasingly stringent policies on foreign exchange by the Central Bank has worsened matters.

Just yesterday, the Central Bank indicated that it was planning to downscale the activities of Bureau De Change operators.
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The Naira’s free fall has also been worsened by a continuing fall in the price of crude oil in the international market.

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