Feb 11 (Lagos) - The Naira fell to N 318 to the US dollar on the parallel market on Wednesday on strong demand for dollars from importers amid dwindling liquidity.
There's not much more to talk about this everyday. Its a new low everyday back to back nowadays.
The scary part is that the CBN may come and further reduce interest rates and at the same time talk about the need to strengthen the Naira.
At the official inter-bank window the Naira was stable around N197, a market that only banks can access. The situation encourages corruption in the words of a noted ex CBN Governor of CBN.
reporting for easykobo.com on Thursday, Feb 11 2016 from Lagos, Nigeria
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