Things are getting very hard in Nigeria as the naira continues to crash against the dollar making things more difficult.
In yet another dramatic twist, the naira has continued to fall as it exchanged at N378 to the dollar at the parallel market on Monday, down from 375 on Friday as scarcity of the greenback continued to weigh on the local currency at both the interbank and black markets.
The dollar liquidity crisis at the interbank market has led to a continued […]
All is not well with the economy of Nigeria as the naira continues on a free fall against the dollar at the interbank market.
Nigeria’s naira fell to an all-time low on Thursday, crossing 300 to the dollar for the first time after the central bank last month lifted its peg on the currency to allow it to trade freely on the interbank market.
The naira fell 5.4 percent against the greenback to 309 at 1224 GMT on dollar supply shortages. It […]