Individuals, banks, and Bureaux de Change (BDC) operators are still under pressure to sell their excess dollars and other foreign currencies.
This is due to the various policy measures introduced by the Central Bank of Nigeria (CBN) that are still in effect.
Last month, the naira fell to a low of N1,778.25 to the dollar because of high demand for the U.S. currency and outstanding forwards on the currency that needed to be settled by the Central Bank.
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