Black Market (N173) vs CBN (N155.7)||Naira Drops Marginally as RDAS Reopens
The Deputy Governor, Corporate Services, CBN, Alhaji Suleiman Barau recently said the naira has outperformed the greenback and other international currencies.
“The naira is not falling. The most important aspects of the market are the interbank market and the RDAS, and the naira has not depreciated in these markets. We had a slight depreciation on the BDC market and we are addressing that. As you may know, the parallel market is less than five per cent of the entire money market, so no one can claim that the naira is falling,” he had said.
In other words they do not control the black market and won’t feel sorry for you when you buy from there. Better to sell in the black market than to buy. Be smart.