The naira will weaken further on the back of rising dollar demand in the coming week, it has been learnt.
Other African currencies including the Kenyan’s shilling and Zambia’s kwacha are also seen weaker due to rising dollar demand from importers settling end of month payments, Reuters reports.
Foreign exchange dealers said the naira would fall further in the week ahead unless a major step was taken to inject liquidity.
The Central Bank of Nigeria had on Tuesday rejected calls to relax its forex rules, prompting the naira to weaken further to 306 against the greenback at the parallel market on Thursday.
