The plunge of the Naira seems unending as the
Nigerian currency as at yesterday, February 15, is selling at N204 to the Dollar.
At the black market, the Naira-Dollar exchange rate is
said to be as high as N209.
The Pound Sterling on the other hand is selling for 314 to the Naira at the Bureau De Change segment and N310 at the black market.
The fall of the Naira continues despite attempts made by the Central Bank of Nigeria (CBN) to stem the trend.
According to Bloomberg, the Naira has tumbled 17
percent over the past three months and may further decline to an exchange rate of N263 to the dollar.
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