On Tuesday, the naira experienced a significant drop, breaching the significant psychological barrier of 1,000 per dollar in the parallel market.
This decline occurred in anticipation of Nigerian lawmakers conducting a review of Olayemi Michael Cardoso for the position of the new head of the nation’s central bank.
The exchange rate increased from 990 to 1,000, as reported by Abubakar Mohammed, the Chief Executive Officer of Forward Marketing Bureau de Change LTD, an entity that tracks data in an informal market in Lagos.
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