Jeez I’m in shock.
I was still lamenting to a friend yesterday about dollar exchanging for 290 and now its up again.
On Tuesday, the Naira again depreciated to exchange at N300 to the dollar at the Bureau De Change (BDCs) segment of the foreign exchange market following the Central Bank of Nigeria (CBN’s) announcement to stop the sale of foreign exchange.
The currency exchanged for 300 in Kano, 292 in Abuja and 290 in Lagos, against the United States dollar.
The naira was traded to the dollar at N278 on Monday Jan. 11
I remember those days when dollar was like 50 naira and Nigerians were lamenting bitterly. Little did we know we were just getting starting. Like seriously 2 dollar is 300 Naira??? WOW.