Following some government-announced policies, Dollar on Friday reportedly fell by eight point three-nine percent on the parallel market.
It was gathered that on Friday the naira strengthened to one thousand two hundred naira per dollar on the black market, as against one thousand three hundred and ten naira against the dollar.
Report further added that Nigeria’s government plans to digitalise Foreign Exchange transactions and discourage speculative demands and hoarding of Foreign Exchange in cash.
A black market operation in Lagos while speaking with newsmen said he bought dollars at one thousand two hundred and eighty-five naira and stated that now it is selling at one thousand two hundred naira.
“I bought dollars at N1,285 and I am now selling at N1,200. Do you know how much I am losing? Everything is government. If the dollar is going up, it is the government, if it is coming down, it is the government, ”