Dollar to crash further – CBN
The Dollar is set to crash further against the naira in the coming week as the Central Bank of Nigeria (CBN) plans to inject more forex into the market to meet demands of genuine customers.
The bank’s spokesman, Isaac Okorafor, in a statement said the CBN was committed to ensuring that authorized dealers got sufficient supply to meet the demands of authentic customers.
He said the CBN has so far kept to its promise to supply enough forex to guarantee liquidity in the market.
Okorafor, who noted that the bank has since February 2017, supplied over $1 billion to the interbank market, maintained that stability has been restored to the market, with individuals now able to easily access forex.
A cursory view of the summary of the CBN intervention in the interbank market over the past two months shows the highest bid rate was N360/$1, while the lowest was N315/$1.