The dollar has crashed to N805-N790 at the parallel exchange market on Tuesday.
The exchange rate for the dollar dropped steadily from N925 to N930 and continued until about 4:00 pm.
This came after information of a potential intervention by the Central Bank of Nigeria (CBN) reached the Bureau De Change (BDC) operators.
The CBN had previously stated plans to make crucial choices to stop the naira’s decline in the coming days, which would cause the speculators to suffer substantial losses.
The acting CBN governor, Folashodun Shonubi, dropped the hint on Monday while briefing State House reporters after a meeting with President Bola Ahmed Tinubu at the Presidential Villa, Abuja.
This is a developing story.
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