The naira crashes again to 402 against the dollar at the parallel market on Wednesday, a day after the Central Bank of Nigeria banned nine banks from the foreign exchange market for failing to remit $2.334bn to the Federal Government’s Treasury Single Account domiciled with the Central Bank of Nigeria.

The local currency had closed at 397/dollar on Tuesday. At the interbank market, the naira closed at 315.93/dollar, lower than 305.5 it recorded on Tuesday.


Source: http://www.glossyclick.com/2016/08/naira-crashes-to-402-per-dollar.html?m=1