The local currency had closed at 318 against the greenback on Wednesday, after hitting 310 and 313.5 on Monday and Tuesday, respectively. The CBN really need to look for a better way to manage this issue.
“The dollar is falling because importers need forex to bring in their goods. They cannot keep on folding their arms because there is scarcity; they must keep buying; the only thing is that the quantity may reduce,” a forex dealer said under condition of anonymity.
“We see Naira falling further in coming days if CBN fails to lift the dollar restriction,” the Ag President, Association of Bureau De Change Operators, Aminu Gwadabe, said.Click to Like our Facebook Page | Earn N50,000 Monthly click this link for more info | Click to download your favourite music | Click to Visit my youtube channel
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