RED ALERT NIGERIA
28 Oct 2016Naira weakens to N470 per dollar at parallel market.
The Naira on Friday, October 28, weakened again to N470 per dollar in the parallel market, but the Central Bank of Nigeria (CBN) has moved to find a lasting solution.
The depreciation comes after the local currency had recovered from N470 it traded on Wednesday, October 26, to close at N465 at the parallel market on Thursday, October 27. However, reports have it that the current rate has prompted the CBN to meet with Bureaux De Change (BDC) operators and Travelex to evolve measures to halt the persistent slide of the currency.
Naira valuation this week against dollar.
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