Forex: Naira Slumps Further, Exchanges 1,190/$

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The naira has maintained its downward trend as scarcity of the dollar bites harder, findings by The PUNCH have revealed.

At the parallel market, naira commenced trading at 1,175/$ and closed at 1,190/$ on Friday.

Two weeks earlier, the naira had traded at 1,100/$ at the parallel market.

It, however, appreciated slightly on the Investor & Exporter forex window after it sold at 808.28/$ at the close of trading on Friday, from 810.05/$ on Thursday, according to figures obtained from the FMDQ.