Naira, the Nigerian currency has suffered two consecutive days of collapse in the parallel market as it plunge by about N17 for each dollar.

The market had some stability for weeks, selling and buying at between N480-485.

But the long suffering Nigerian currency moved slowly after the Central Bank published on Monday night a devalued rate for Naira, offering it at the NAFEX window at N410 to the US Dollar.

This generated reactions from the parallel or Black Market.

Leave a Reply

Your email address will not be published. Required fields are marked *