By Busari Kabirat
According to the FMDQ data on Monday, dollar closed at 1,534.39 at the official market, which is the first time the dollar would be exchanging at over N1,500 since the crisis putting more pressure.
This has affected so many businesses and importers as dollar is the major currency used in transacting in the foreign market.
The Central Bank of Nigeria (CBN) is aimed at stabilising the market despite several measures and interventions but local currency has defied all the interventions and continues to depreciate.
Several sectors in Nigeria have begin to feel the impact of the local currency depreciation, also have caused inflation in the country.
The dollar has stabilized at the parallel market exchanging between N1,450 and N1500 despite the dollar exchanging at N1,534 at the official market.
