Naira falls to 230 per Dollar

          

The depreciation of the Nigeria Naira in the Parallel market continues to take a plunge, as it loses N4 yesterday with the parallel market closing at N230  per dollar.
This Trend has continued since the exclusion of Importation of rice,cement and other 39 items from Foreign exchange market,making the Naira to depreciate N10.

The Central Bank, released a Circular on Tuesday which say:“For the avoidance of doubt, please note that the importation of these items are not banned. Thus, importers desirous of importing these items shall do so using their funds without recourse to the Nigerian foreign exchange markets,” 

The Items restricted accounts for $6 billion of goods imported every quarter, according to, Aminu Gwadabe, President, Association of Bureaus de Change of Nigeria, saying: “The ban is putting pressure on naira on the streets.”