The naira hit a new record low on Tuesday on thin dollar liquidity, amid concerns over political stability
Determined to bring sanity into the foreign exchange market, the Central Bank of Nigeria (CBN) has scrapped the Retail Dutch Auction (RDAS) market and told dealers that it will be selling dollars at the interbank at N198.
CBN had spent an average of $200 million daily to cover the surging dollar
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JOSEPHINE OKOJIE
Nigeria's leading finance and market intelligence news report. Also home to expert opinion and commentary on politics, sports, lifestyle, and more
