Nigeria: Why Naira Depreciated By 23% in 4 Days - Currency Dealers, Analysts ...Middle East

[Vanguard] A surge in demand for dollars in the parallel market driven by banks and end-users combined with slow forex disbursement to BDCs by the Central Bank of Nigeria, CBN, caused the Naira, last week, to fall by 23 per cent against the dollar, thus recording the worst weekly performance of the Naira since February.

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