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The Nigerian currency, which has continued to drop at the parallel market for sometime, has failed to strengthen against the dollar as it depreciated further on Wednesday, December 8, 2015.
According to the News Agency of Nigeria (NAN), the Naira now exchanges for N249 to the dollar, having lost N1 on Wednesday afternoon to close at N249, as against its previous value of N248.
Although it appreciated at the official interbank window, gaining N0.03 to close at N196.97, traders at the parallel market disclosed that the challenges at the Bureau de Change (BDC) is a reason the currency has kept dropping at the parallel market.
Also, the inability of some BDCs to render proper accounts of forex transactions got about 1600 of them some sanction from Nigeria’s apex bank.
The post Naira Drops Against Dollar At Parallel Market, Check Out The New Exchange Rate appeared first on Nigeria News today & Breaking news | Read on NAIJ.COM.
The post Naira Drops Against Dollar At Parallel Market, Check Out The New Exchange Rate appeared first on ElotNews | Nigeria News today & Breaking news.