Naira slides ahead of Yuletide, exchange for 570/dollar
The naira continued its downward trend as the dollar was sold for N570 in the parallel market on Tuesday.
Operators, who spoke to our correspondent, said the dollar was bought and sold for N567 and N570 respectively on Tuesday, compared to N550 and N555 three weeks earlier.
Some Bureau de Change Operators attributed the further fall in the value of the naira to an increase in the demand for the greenback.
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The British pound sterling was also bought and sold for N740 and N745.
The CBN had in July this year stopped foreign exchange sales to the licensed BDCs, leaving the operators to source for their forex on their own.
Prior to the stoppage of the forex sales, the CBN was supplying $10,000 to e...