Naira on Monday depreciated further at the parallel market amid growing shortage of the currency.
Currency slides further, sells at N297 to dollar at parallel market
It traded previously for N292 to the dollar over the weekend and at the official interbank window, the dollar remained at N197.
Naira vs Dollar
The News Agency of Nigeria (NAN) reports that the Naira lost N5 to exchange at N297 to the dollar, representing a depreciation of 1.7 per cent.
Traders at the market expressed concerns at the widening gap between the price of foreign exchange at the official interbank window and that at the parallel market.
They were, however, hopeful that the directive of the apex bank to money deposit banks to reopen domiciliary accounts could redress the shortage of dollars.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Gov Alia vows to demolish property housing kidnappers, Yahoo boys in Benue
Tinubu appoints former Rivers lawmaker, ex-Naval officer as heads of NESREA, NDRBDA
Court accuses EFCC boss of contempt over handling of Yahaya Bello's case
Fubara donates ₦350m as Navy moves training headquarters from Lagos to Rivers
Bandits invade Defence Minister's hometown, kill 1, abduct scores
Cardiologist bags 4-year jail term over patient deaths
We must continue to support President Tinubu - Ododo tells Kogi residents
Tinubu appoints Zenith Bank founder Jim Ovia to chair student loan fund
Husband begs IGP to find his wife who went missing on official police duty
ADVERTISEMENT