Naira Crashes to N480/$ as DSS Forces BDCs Underground

The Nigerian Naira on Tuesday collided with 480 units for every dollar at the parallel market.

A week ago the naira was moderately steady, exchanging a N465 – N473 band to the greenback. Be that as it may, DSS’ late clampdown on BDC administrators constrained the exchangers underground, making a rare product scarcer.

At the interbank end of the remote trade advertise, the naira sold at N305.25 a similar rate it was cited on Monday as indicated by information gave by FMDQ.

In the interim, the outside stores of the nation kept on rising relentlessly in spite of the exercises of the activists in the oil rich Niger Delta area.




Leave a Reply

Your email address will not be published. Required fields are marked *