Again Naira Depreciates Against Dollar After Recovery

The naira recorded a loss against the on Monday, December 7 2020 closing at N482/$1 at the parallel market.

This represents a N7 drop when compared to the N475/$1 that it exchanged for on Friday, December 4.

However, the Naira’s at the NAFEX window continued to remain flat against the to close at N395/$1 during intra-day trading on Monday, December 7.

ABCON President, Aminu Gwadebe, had blamed the crash of the naira on illegal activities that include hoarding, speculation, illegal cash evacuations through the nation’s borders, use of the for gratification and so on.

Source

Leave a Reply

Your email address will not be published. Required fields are marked *