Why is the Naira falling?
It is no longer a story that the Nigerian economy is facing a massive foreign exchange crisis and the rate of depreciation of the naira has sparked serious concern among citizens. information guide nigeria
A report from nairametrics.com recently disclose that since the Central Bank of Nigeria (CBN) banned sales of foreign exchange to Bureau de Change (BDC) operators, we have seen the parallel market exchange rate depreciate from N505/$1 to N570/$1 at the black market. jamb result
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The information from nairametrics.com made it clear that the last time the exchange rate depreciated this quickly was in early 2017, when the rate jumped from around N450 to over N500 to the dollar. This actually happened after the Central Bank implemented a policy to bring liquidity into the economy, it then evened out at around N365/$1
Check and Confirm: How much is Dollar to Naira today
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