Naira Falls By 1.3% To 380 Per Dollar At Black Market

Nigerian naira on Wednesday fell by 1.3 per cent to close at 380 to the United States dollar at the black market.

The currency also fell against the Pound sterling to 470 from 465 its traded on Tuesday, not minding the signing of the Article 50 which signifies the official withdrawal of Britain from European union. It remained flat against the Euro at 400.


At the official market rate, the currency also fell by 0.05 per cent to 306.50.

On Tuesday, the Central Bank of Nigeria (CBN) slashed Bureau De Change (BDC) operators dollar to naira rates to 360, 360 nationwide.






The development, ABCON chief, Alhaji Aminu Gwadabe and praised pledged commitment of all BDCs in collaborating with the apex bank to sustain the gains recorded by naira against the dollar.

The CBN has injected close to $2 billion since it started its intervention in the foreign exchange market five weeks ago.
Naira Falls By 1.3% To 380 Per Dollar At Black Market Naira Falls By 1.3% To 380 Per Dollar At Black Market Reviewed by getitrightnigerians on 21:42:00 Rating: 5

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