The United Stated dollar on Thursday continues to slide against the naira at the parallel market. The dollar which starts the day at N500 early morning fell to about N470 by the afternoon as more and more people troop to the market to sell their foreign currency.
Traders at Zone 4, Abuja said the dollar is currently on the downside and anything can happen at the rate its going in the market.
Mr Mohammed Salisu said the buyers are skeptical while the seller are rushing, therefore the market is full of speculations even though he said the BDCs have not started receiving supply from the Central Bank of Nigeria as promised yet.
On Monday, the CBN changed its rules in the supply of the FOREX where it guaranteed both the small and big users of the foreign exchange that they are going to supply the market with the needed liquidity.
On Tuesday about $500 million was released through the interbank market where the 23 banks bought $371m in the market.
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