The Nigerian Naira has yet again taken another dip in trading yesterday, as the currency lost N2 to exchange at N297 to the dollar. This is in contrast with the previous value of exchange which stood at N295 as traded on Tuesday 19th January.
The Naira at the Official Interbank window however traded at N197 to the dollar.
While some stakeholders have expressed several diverse beliefs as concerning the effect of the recent forex policy of the Apex bank on the Naira’s value, Traders at the market expressed that the continued depreciation of the Naira is as a result of continuous demand for the greenback by importers.
I’m a communique issued by the Association of Bureaux de Change Operators of Nigeria (ABCON), the association implored the CBN to lift the ban on its member as the ban would impact the Naira value negatively, the association also sought to be included in making decisions as related to the foreign exchange market.