Black Market FX Pressure on Naira

The Nigerian naira continues to face pressure in the black market, trading at 1,405 naira to the dollar and 1,620 naira to the euro. The currency's instability is attributed to forex supply scarcity, high import demand, and inconsistent policies from the Central Bank of Nigeria.

The Nigerian naira continues to face pressure in the black market, trading at 1,405 naira to the dollar and 1,620 naira to the euro. Structural issues and policy inconsistencies contribute to the currency's instability, affecting inflation and investor confidence.