The Naira, the national currency of Nigeria, fell to N900 versus the US dollar on Wednesday.
On Thursday morning, Ahmed Gazali, a Bureau De Change employee, confirmed the exchange rate to Newsmen.
On the official market, the Naira was trading at N773.42 to the US dollar.
Compared to Tuesday’s N770.72 exchange rate for the Naira against the dollar, the result shows a slight decrease of 0.35 percent.
Due To Demand Pressure, Naira May Drop To N900 Per Dollar
Only 48 hours have passed since Mr. Olawale Edun, Minister of Finance and Coordinating Minister of the Economy, resumed his duties.
According to Anaedoonline.ng, earlier this week, the Naira traded at N850 to $1 on the black market.
In an effort to discourage FX speculators, the Central Bank of Nigeria last week published new policy guidelines to BDCs and a Price Verification Portal.
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