The naira on Friday crashed against the United States dollar from 191 to 208 at the parallel market, otherwise known as the black market.
The dollar sold for between N205 and N208 on the streets of Lagos, Abuja and other major cities in the country.
The currency had exchange for between N188 and N191 on the streets of Lagos and other key cities on Wednesday and Thursday morning, dealers said.
The latest fall in the naira’s value came less than two months after the Central Bank of Nigeria was forced to devalue the local currency by eight per cent from 155 to 168 against the dollar following the continued decline in the prices of crude oil in the international market.
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