The naira tumbled to a record low of 345 against the dollar at the parallel market on Monday, extending its depreciation from nine to 11 per cent in less than two weeks.
The naira had hit a record low of 338
against the greenback on Friday, a day after the Bankers’ Committee
announced plans to stop providing foreign exchange for school fees and
medical bills payment.
The naira, which has been on a free fall
in the past few weeks, fell steadily from 310 last week Monday to 335
on Thursday at the parallel market.
The CBN has left the official exchange rate unchanged at N197 to the dollar on its official interbank window.
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