Naira Falls To N257 Against Dollar At Parallel Market

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The Naira has on Thursday, December 10, exchanged at N257 per one Dollar at the parallel market, a Punch report says.

The naira has been losing value against the greenback since last Wednesday when the Central Bank of Nigeria stopped the sale of foreign exchange to some Bureaux de Change operators who didn’t provide returns on the utilisation of previous forex purchases.

The exclusion continued on Wednesday and has been creating shortage of dollars, which is causing the greenback to rise at the parallel market.

The president, Association of Bureau De Change Operators, Mr. Aminu Gwadabe, said it’s in contact with CBN to resolve the issue.

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism. If you ever find my article unduly insipid, sue me and i’ll refund you...

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