Naira falls as CBN fails to supply dollar

The naira has again returned to weak position as it fell against the dollar on Wednesday at the interbank market.

The fall, which represents its weakest in over a week, is as a result of the Central Bank of Nigeria’s (CBN) failure to intervene in the market by selling dollars.

The currency closed at N161.55 to the dollar, its weakest since June 14 when it closed at N162.7 to the dollar. The naira closed at N160.50 to the dollar the previous day.

Nigerian Tribune

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