Dollar Crashes Against Naira, Exchanges 380/$1

Dollar Crashes Against Naira, Exchanges 380/$1


The dollar on Saturday crashed against the naira, exchanging at N380/$1 in the parallel market. The rate comes ahead of tomorrow’s Central Bank of Nigeria (CBN) led Monetary Policy Committee (MPC) meeting in Abuja.


Naira was exchanging at N385/$1 on Friday and has maintained steady decline in the parallel market, in last one month.

The naira’s recovery against the dollar comes as currency speculators continued to lose grip of the market, given CBN’s consistent dollar injections into the interbank and other segments of the market.

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