Gist: NGN ~ USD now 400N/1 USD - What I DO?  (Read 2427 times)

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NGN ~ USD now 400N/1 USD - What I DO?
by flukky01 « on: August 05, 2016, 07:57:52 AM »

The naira plunged to 400 against the dollar at the parallel market on Thursday as shortage of foreign exchange continued to have negative effects on economic activities in the country, according to the Punch.

The local currency had closed at 390 against the greenback on Wednesday.

The shortage of forex at the interbank and the black market has continued to weigh on the value of the naira.

After closing at around 378 against the dollar for most part of last week, the naira dropped to 380 on Friday before falling to 382 on Monday.