Thursday, December 17, 2015

Naira Continues To Fall Drastically.... Now 280

The naira which was previously N269 against the United States dollar at the parallel market on Wednesday has crashed drastically to N280 yesterday.

The naira, which had been trading around 241 and 243 against the greenback for a long time, began a steady decline about three weeks ago when the Central Bank of Nigeria stopped the sale of foreign exchange to over 1,600 Bureaux De Change operators due to improper documentation. I don’t think the naira has ever crashed this badly before in the history of Nigeria. The elderly ones should please confirm this. 

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