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GOING UNDER| Naira Attains all Time low, Trades N320 To 1 US Dollar

by on February 13, 2016
 

Naira traded at an all time low of N320 against the dollar in the Bureau de Change, BDC, segment and about N322 in the street markets in some parts of Lagos, showing over nine percent depreciation within the last 10 days.

Operators explain that the reason for the drop was due to the huge scarcity in dollars brought about by the dwindling foreign exchange resources inflow into the economy and coupled with the exclusion of the Bureau De Change operators from accessing Nigeria’s forex market.

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