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Why naira to dollar went down on parallel market?

Did naira drop again to dollar? Learn the parallel market news.

These last weeks have been rather troublesome for Nigerian currency naira and its value to dollar. It has rapidly dropped from official course of N199 to almost N400 to one dollar on black market. What is the latest dollar to naira news?

 naira to dollar

Of late the situation on parallel market with the currency exchange rate seemed to normalize a bit and naira went up. Unfortunately, this Wednesday  (March 16,2016) naira has dropped again to N325 per US dollar.

READ ALSO: Where to exchange currency in Lagos naira to dollar

 parallel market

Why did naira dropped again? Some people connect this situation to the latest CBN (Central Bank of Nigeria). It has issued new rules for the ATM bank card holders. The new charge has been introduced in the amount of N100 in addition to the existing N65.

Such CBN actions destabilize the situation on financial market of Nigeria and in the country in general, as they affect millions of people. Follow Nigerian news to know the next turn in dollar to naira black market prices.

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