Naira Crashes To New Low Of N540 To Dollar

The naira reached its lowest ebb ever against competing currencies on Thursday when it traded for N543 in the parallel market in Lagos.

The naira also fell against the pound reaching N740 in the parallel market.

It was also reported that the naira traded for N543 in the Abuja parallel market.

The crash of the naira to the latest level follows the decision of the Central Bank of Nigeria, CBN not to sell foreign exchange to the Bureau De Change operators in the country.

 GreenWhiteGreen GWG reports that the apex bank had directed all those in need of foreign exchange to make their demands though their banks.

The CBN had on June 27, 2021, ended the sale of foreign currency to the Bureau De Change operators because it alleged that they were being used to sabotage the nation’s economy.

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