The naira traded at about N226 to the dollar on the parallel market on Monday, down 2.7 percent since new central bank foreign exchange rules designed to conserve dwindling reserves, traders said. The naira sold for 220 naira to the dollar before the new central bank measures announced on Wednesday restricting importers from sourcing hard currency […]
The naira traded at about N226 to the dollar on the parallel market on Monday, down 2.7 percent since new central bank foreign exchange rules designed to conserve dwindling reserves, traders said.
The naira sold for 220 naira to the dollar before the new central bank measures announced on Wednesday restricting importers from sourcing hard currency from the interbank market to buy 41 items including foreign bonds, rice and cement.
Trading on the interbank market, which is pegged around the central bank’s rate of 196.90 naira, was at 198.90 naira on Monday.
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