July 27, 2022 6:34 PM
Nigerian naira, on Wednesday, weakened to N707 a dollar at the parallel section of the foreign exchange market.— further losing value against the dollar. Street traders who spoke to TheCable said the free fall resulted from the lingering foreign exchange supply constraints.AdvertisementThe Central Bank of Nigeria has often maintained that the parallel market is not the true reflection of the naira.
At the official market, checks by TheCable showed that the buying price stood at N415.14 while the selling price stood at N416.14 a dollar.The depreciation of the local currency has negatively affected businesses — most especially importers.Godwin Emefiele, governor of the Central Bank of Nigeria , over inflation and naira devaluation.
Speaking on the floor of the national assembly, Biodun Olujimi, senator representing Ekiti south, said the CBN has “failed to defend the naira”.
It’s actually $1-750 Naira Who are those that still wants to vote for OfficialAPCNg ? Na God go punish una
This has nothing to do with Nigeria but western manipulation
How soon will it get to 1000?
At this rate,we get to 1000 before the middle of next month