Naira falls in parallel market as CBN slashes dollar supply

 The Naira is facing new pressure in the parallel market as it has depreciated to N473 per dollar, NAIJ.com can report this Monday, November 28.

But according to a report on Vanguard, the fall can be attributed to the decision of the Central Bank of Nigeria (CBN) to slash dollar sales to Bureau De Change (BDCs) by 46%.

It was gathered that last week, the CBN sold $8,000 to each BDC through Travelex Nigeria Limited.  This represents 46 per cent decline when compared to $15,000 usually sold per week to each BDC.

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