Forex scarcity persist as Naira sinks to N472/$

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Forex scarcity persist as Naira sinks to N472/$

The naira on Tuesday traded at N472 to a dollar at the parallel market as foreign exchange scarcity persisted.

The exchange rate was N440/$ in the parallel market in June, and operators have continued to demand for the immediate unification of the multiple exchange rates in the country.

The Senior Partner, Regulatory and Technology, Stransact Partners, Eben Joels, said the more worrisome issue was that the gap between the various exchange rates operating in Nigeria created arbitrage opportuniti

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