Monday, December 18, 2017 12:20:37 AM- Nigerian Stock Exchange.

  Naira falls to N480/US$ on parallel market on FX scarcity


Dec 1 (Lagos) -  The Naira depreciated to N480 to the US dollar on the foreign exchange (FX) parallel market on Wednesday, from the N475 to the US dollar it was the previous day. 

The renewed slide of the nation’s currency on the parallel market was attributed to the scarcity of the greenback, owing to the raid and arrest of operators in the segment of the market by security operatives. 

The free fall goes on as the CBN thinks about what policy to implement next on Nigerians. 

reporting for on Thursday, Dec 1 2016 from Lagos, Nigeria

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