The naira has fallen again in exchange for the dollar at the parallel market as Nigerians express worries about the flexible policy introduced by the apex bank in Nigeria.
According to the currency exchange rates for 04/07/16 as of 10:00am being released according to Zenith bank reports, the naira which exchanged for a dollar at the black market at the rate of N345 last week Friday has fallen to
The naira practically fell off the cliff yesterday as it sold for N280 to one dollar after the Central Bank of Nigeria (CBN) removed the pegs that held the local currency in a fixed point to the dollar, losing 42.13 per cent of its value at the spot market.
But on the forward market, the naira traded for N317 to the dollar. In spot markets, spot trades are made with spot prices. Unlike the futures market, orders made in the spot […]