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New York
4 December 2021
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Naira Crashes Further To ₦412 Per Dollar

The Nigerian Naira plunged further in value on Monday March 30, as it exchanged at ₦412 for a Dollar following a temporary suspension of sale of forex to the Bureau De Change operators in the country by the Central Bank of Nigeria (CBN).

Recall that the apex bank had pegged the exchange rate of the Naira at ₦380 to the Dollar, a move it insisted was not a devaluation of the Nigerian currency.

The CBN however granted the Association of Bureaux De Change Operators of Nigeria its request of going on holiday due to challenges in the local and global economies over the Coronavirus pandemic.

While the Naira has crashed in its value due to the low price of crude oil in the international market in recent times, BDC operators have disclosed that there has been a drastic decline in demand for forex due to the impact of Coronavirus on the economy. The financial market stakeholders also disclosed that businesses are down and many people are not travelling.

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9 comments

Abdulsomad 1 April 2020 at 9:22 PM

I cry for my country

Reply
Wumi 1 April 2020 at 9:45 PM

iyaff do

Reply
aloura 1 April 2020 at 10:08 PM

May God have mercy on this Nation

Reply
BELGRIN 1 April 2020 at 10:23 PM

We’ve lost it all in this country except for hope.

Reply
Okoro Samuel 2 April 2020 at 12:40 AM

Na wao

Reply
Louis 2 April 2020 at 7:45 AM

Nawa oo

Reply
Alabi 2 April 2020 at 1:35 PM

kai

Reply
Adebowale 2 April 2020 at 1:36 PM

hmmmm

Reply
Emmanuel 6 April 2020 at 2:33 PM

Getting much

Reply

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