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DOLLAR SCARCITY GETTING WORSE, FORCES NAIRA DOWN.

The Pound Sterling and the Euro exchanged at N610 and N550, respectively.

Trading at the investors’ window saw the naira closing at N385.98 to a dollar as investors traded a total of $20.27m

The naira, however, was sold at N381 to a dollar at the official Central Bank of Nigeria window.

Reports has it that the apex bank had hitherto relied on the nation’s foreign reserve and Diaspora remittances in its interventions at the foreign exchange market.

But recent data from the CBN showed that the nation’s foreign reserve fell by $544.94m from $36.17bn on July 1 to $35.62bn on August 3.

The country depends heavily on petrol dollars to shore up its foreign reserved.

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