Naira Value depreciates to N230 Per dollar in parallel market
The value of naira to dollar have jumped from per #199 per dollar to #230 dollar yesterday with the parallel market exchange rate closing at N230 per dollar.
It is reported that the resulted since last Tuesday when the Central Bank of Nigeria, CBN, excluded importation of rice, cement and other 39 items from the foreign exchange market.
“For the avoidance of doubt, please note that the importation of these items are not banned. Thus, importers desirous of importing these items shall do so using their funds without recourse to the Nigerian foreign exchange markets,” the apex bank said in a circular issued, Tuesday.
The restricted items account for as much as $6 billion of goods imported every quarter, according to, Aminu Gwadabe, President, Association of Bureaus de Change of Nigeria, saying: “The ban is putting pressure on naira on the streets.”
0 comments:
Post a Comment