Breaking news : Naira surprisingly crashes at black market despite CBN’s supply of Dollars

The improving fortune of the Naira at the parallel market was on Monday, April 3, halted as it depreciated to N395 against the Dollar - The Naira, which closed at N475 to the British Pound and N410 against the Euro last week, now trades at N485 and N415 respectively - ABCON chief Aminu Gwadabe blames the depreciation of Naira on the speculators’ onslaught and resistance by the banking industry The value of the Naira on Monday, April 3, crashed again at the parallel market, despite the continuous injection of Dollars at the official end of the foreign exchange market, by the Central Bank of Nigeria (CBN). According to reports, the Naira has crashed further to N395 to a Dollar as against the previous rate of N390. The local currency which also closed at N475 to the British Pound and N410 to the Euro on Friday, March 31, now trades at N480 and N415 respectively.