The naira on Wednesday, further declined to N305 per dollar as scarcity of dollars intensified in the parallel market across the country.
Since Monday when the Central Bank of Nigeria (CBN) stopped weekly dollar sales to Bureaux De Change (BDC), the naira has been depreciating against the dollar.
BDC sources who confirmed the development however said that the exchange rate situation is uncertain as the rate changes from time to time.
The Chief Executive Officer, H.J Trust BDC, Mr. Harrison Owoh, said that the market is volatile.
"You cannot quote rate for anybody now because the rate is changing every time."However, an Abuja based BDC Operator who spoke on condition of anonymity said that the rate closed in Abuja at N298 but was above N300 during the day.
He further said it was difficult to quote any specific rate now as the situation is unpredictable. He opined that the rate would probably stabilize by next week when the market would have absorbed the impact of the new CBN policy.
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