Naira now 241 against US$1

 

The naira hit another record low of N241 against the dollar at the parallel market on Monday as the Central Bank of Nigeria’s restrictions on foreign exchange sale fuelled unofficial trade in dollars, Reuters reported. Financial experts say the ban placed by CBN on importers from accessing Nigerian foreign exchange markets for the importation of 41 items has led to the volatility of the Naira-Dollar exchange rate at the black market.

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