L
LequteMan
Guest
The Nigerian naira yesterday fell further on the parallel market. The currency at the end of business exchanged at N375 per dollar, shedding about N7 in the process. It exchanged at N368 per dollar the previous day.
Dollar scarcity at the interbank market is driving demand to the parallel market, reports say. Yesterday, only one trade happened at the interbank market.
“Recent foreign exchange reforms have been enough to re-open the investment case for Nigeria, but there is still some uncertainty about the functioning of the market,” Alan Cameron, economist at Exotix said.
Dollar scarcity at the interbank market is driving demand to the parallel market, reports say. Yesterday, only one trade happened at the interbank market.
“Recent foreign exchange reforms have been enough to re-open the investment case for Nigeria, but there is still some uncertainty about the functioning of the market,” Alan Cameron, economist at Exotix said.
