Sunday, July 23, 2017 1:48:13 PM- Nigerian Stock Exchange.

  NAIRA hits 300 as the free fall accelerates


Jan 13 (Lagos) - As the Central Bank stopped the practice of foreign exchange sales to Bureau De Change operators yesterday the Naira hit a new all time low. 

Naira exchanged for N300 against the US dollar in Kano, N290 in Lagos and N292 in Abuja.

However Naira was steady on the inter-bank and official markets where the CBN can choose who it will sell the foreign currency to. 

The reduced supply from CBN could send the Naira towards the 400 mark very quickly now that 300 has been breached within the first 2 weeks of the new year.

reporting for on Wednesday, Jan 13 2016 from Lagos, Nigeria

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