Naira Falls To 470/Dollar In Parallel Market

By Adebayo Williams

The naira recorded an all-time slump to the dollar exchanging for 470. The currency was at 452 as at Tuesday, steps down against the dollar on Monday.  The naira closed flat at 312.99 against the dollar at the interbank market on Wednesday. Traders and analysts told Punch that dollar liquidity remained a major challenge in the market amid surging demand pressure on the greenback by parents paying schools fees of their children studying overseas as well as travellers.


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