Naira has fallen against dollar, today’s exchange rate stated below..
This online news platform understands that the Naira, which has been on a downward trend in recent weeks, fell to N540 against the greenback today from 532/$1 yesterday.
Similarly, the local currency, also fell to 411.43/$1 on Thursday from 411.50/$1 on Wednesday, September 8, at the Investors and Exporters’ window, according to data published on FMDQ Group, the official website where the naira is traded.
Onyxnewsng reports that the Naira had its first major all time fall against the United States dollar on Monday, August 30, 2021, crashing to N527 against the United States dollar at the parallel market otherwise known as the black market
The fall is happening few days after the Central Bank of Nigeria (CBN) stopped foreign exchange sales to Bureaux de Change.
Though, on July 27, Godwin Emefiele, the CBN Governor, had at the end of the Monetary Policy Committee meeting, announced the stoppage of forex sale to the BDCs, saying they had turned themselves into ‘agents that facilitate graft and corrupt activities of people who seek illicit fund flow and money laundering in Nigeria.’