Fuel price hike: Naira exchanges N341 to $1

Fuel price hike: Naira exchanges N341 to $1
Oladejo Amos
The naira was already under pressure following the government’s 67 per cent increase in gasoline prices to N145 per litre from N86.50 per litre.
The Chairman of the Association of Bureau de Change Operators of Nigeria, Aminu Gwadabe, on Thursday said the black market exchange rate fell to N341 against the dollar from N320 following the decision.
According to him, the naira may reach 380 next week if the central bank doesn’t increase supply in the market.
He added that marketers could buy dollars from any source, rather than just the Central Bank of Nigeria, CBN, or oil companies.