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Scarcity Of Foreign Currency Hits Money Market
Although the black market is saturated with the needed hard currency, it is more expensive to procure foreign currency at the unofficial market, while it is believed that the banks have been selling out more Dollars to the operators of the black market for more gains. At the Interbank market the exchange rate is N192 to a Dollar, while it is about N115 to a Dollar at the black market.
David Ogah, Mathias Okwe and Temiloluwa Adeoye
