Naira crashes again, now N572 to dollar
The naira now exchanges for N572 to a dollar, per rate on Forex trading platform, Aboki Forex.
Checks by Peoples Gazette on Thursday morning showed the current parallel market rate pegged at N572 to a dollar. Contacts at the parallel market also confirmed the current rate.
In the last week of November, The Gazette reported the naira’s slide at the parallel market as it exchanged at N565 to a dollar a week after trading for N545 to a dollar.
The naira has continued on a volatile trading run despite the efforts of the central bank to protect the currency’s value.
In September, Godwin Emefiele, governor of the Central Bank of Nigeria, clamped down on Aboki FX, a website that updated Nigerians on the open market value of the naira against other currencies.
The website was criticised in a letter from the CBN, which demanded that commercial banks provide transaction records of the website.
The apex bank alleged that the website had breached the National Intelligence Committee Act of 2004.
In July, The Gazette had reported CBN ban on foreign exchange sales to bureaux de change and an indefinite suspension issuance of licences to money changers.
The apex bank had instructed banks to set up teller points in branches to make dollars and other foreign currencies available to Nigerians.
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