Lagos - The naira on Wednesday maintained
its previous depreciated value at the parallel market.
It exchanged for N232 to the dollar, a value it had
Meanwhile the official rate at the inter-bank window also
maintained its previous value of N196.98 to the dollar.
Also read: Naira increases to 217 against dollar
Traders at the market noted that the naira could witness a
rebound if activities at the Bureau de Change (BDC) bounce back.
Dr Evans Osabuohien, an economist at the Covenant University
Ota, Ogun, said that the naira was reacting to forces beyond the regulations
imposed on BDCs by the apex bank.
Osabuohien said that the more the economy depended on
importation, with the attendant trade deficit, the more volatile the naira
He called for greater interaction between the government and
the organised private sector in finding the best way to improve the ease of
doing business, thereby growing the economy.