The naira has continued to slope downward as it, at the moment of compiling this report selling for N543 to a dollar at the parallel market.
EarthNews learnt, on Thursday, the bureau de change bought dollar at N540 and offer it for sale at the rate of N543.
In the same existence, the British Pound was also sold for £1/N740 at the parallel market.
On July 27, 2021, the CBN terminated the sales of Forex to BDCs saying the parallel market had become a conduit for illicit Forex flows and graft.
The CBN further established that it would also no longer process applications for BDC licences in the country.
It’s now 44 days after the Central Bank of Nigeria (CBN) barred sale of Forex to all bureau de change operators across the country and the naira keeps experiencing a depreciative standpoint.
