Naira Now 440 To A Dollar

According to reports, the naira was yesterday sold at the parallel market for 440 per dollar, as the lingering foreign exchange scarcity in...

According to reports, the naira was yesterday sold at the parallel market for 440 per dollar, as the lingering foreign exchange scarcity increased to a new level.

The local currency, which closed at 436/dollar on Thursday, eased to 435 in the early hours of Friday.

The latest declines in the naira value started on Wednesday, a day after the Central Bank of Nigeria’s Monetary Policy Committee retained the benchmark lending rate at 14 per cent. I // //