The naira crashed to N390 to the dollar on the parallel market wednesday,
lower than the N382 to a dollar from the previous day.
A currency analyst, who preferred to remain anonymous, blamed the
continuing slide of the nation’s currency on the parallel market to demand
pressure.
According to him, demand for FX for most
of the 41 items that had been excluded
from the interbank market was still being
met with dollars bought from the parallel
market.
The source also attributed the
development to the fact that banks that
act as agents of international money
transfer operators were yet to comply with
a Central Bank of Nigeria (CBN) directive
instructing them to sell foreign currency
remittances to licensed bureau de change (BDC) operators.
On the interbank market, on the other hand, the naira strengthened to N311.03
to the dollar yesterday, higher than the N316.83 to a dollar from the previous day


http://www.thisdaylive.com/index.php/2016/08/04/naira-falls-to-n3901-on-parallel-mkt-rises-on-interbank/