The naira suffered further depreciation to a record low of N1,235 per dollar on Tuesday, following strong demand on the parallel market, also known as black market. This represents a 2.06 per cent (N25) weaker value than the N1,210 recorded on Monday, when Naira had strengthened against the dollar, gaining 1.85 per cent at the Nigerian Autonomous Foreign Exchange Market (NAFEM). Naira appreciation came after the finance minister Wale Edun said on Monday that Nigeria was expecting as much as $10 billion in new foreign currency inflows in the next…
Read MoreNAIRA MAKES AN ALL TIME TUMBLE, EXCHANGES AT N1,235/$1 IN PARALLEL MARKET
