The naira continued its slide
against the dollar at the parallel market on Wednesday trading at N295 to the
dollar. It was traded N290 to the dollar at the same segment in Lagos on
Tuesday.
The naira exchange rate was,
however, stable at N197 to the dollar at the official market on
Wednesday. The naira has depreciated steadily since Monday when the apex
bank stopped the weekly sale of foreign exchange to Bureau de Change operators
in the bid to sanitise the market.
Traders at the market said that they
were concerned about the depreciating naira exchange rate in the black
market. They, however, expressed optimism that the policy might impact
positively on the market in the long run.
CBN Governor, Mr. Godwin Emefiele
announced the new foreign exchange policy at a media briefing in Abuja on
Monday.
He said that the new policy was to
stop “rent seeking activities’’ in the market.
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