Dollar scarcity has continued to plague Nigerian foreign exchange market. The value of Naira has been on a downward spiral, following the crash in oil prices and decreased remittance from diaspora, thus prompting the Central Bank to devalue the currency.


At the parallel market (popularly known as the black market) on Tuesday, Naira exchange rate against the U.S dollar and British pounds hit a new low, further widening the disparity between the parallel market rates and Investors’ & Exporters’ Window (I & E Window) rates...

Read full article at https://investogist.com/naira-value-crashes-to-new-low-against-the-u-s-dollar-and-british-pounds/