Naira falls to N391 to $1

Naira fell to N391 for $1 on Thursday at the parallel market as there continues to be scarcity of foreign currencies. The Naira has entered a free fall on the black market and was exchanged for one dollar at N372 on Wednesday in Abuja, Lagos and other major cities. According to financial experts and forex dealers, this persistent  fall of naira is linked to individuals, businessmen, and importers panic buying of dollars and other hard currencies.