Sad: Naira suffers huge setback against dollar again, see new rate this Friday

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The Nigerian currency on Friday, April 8, suffered a huge setback against the dollar on the parallel market. checks revealed that the naira sells for about N320/dollar as against the N318 it was exchanged for on Thursday, April 7.

Sources at the bureau de change confirmed that the recent fuel crisis in the country may have started taking its toll on the Nigerian economy, especially on the foreign exchange market where the dollar is still firmly defeating the Nigerian currency.

Short Naira Exchange monitor(1)

“The recent fuel scarcity is apparently one of the reasons we are having the issues presently ongoing with the exchange rates.

“Although it was not rising to fast before, it did not come down against the dollar like this. We do hope, in all sincerity, that the Nigerian government would do something about the lingering crisis in the country,” a trusted source at the BDC informed our correspondent on Friday morning.

Another source however, revealed that the exchange rate stands at N318 as it was yesterday, while another BDC operator told our correspondent that “it is N321 per dollar if you wish to buy any moment from now.”

The post Sad: Naira suffers huge setback against dollar again, see new rate this Friday appeared first on Nigeria News today & Breaking news | Read on NAIJ.COM.

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