$1= N352

The acute scarcity of foreign exchange, especially the United States dollar, made the naira to fall further on Tuesday to 352 against the greenback at the parallel market.

Last month, the Central Bank of Nigeria banned dollar sales to BDC operators, sending the naira to record lows at the black market, and later stopped daily sales to the interbank market, in an effort to conserve the external reserves, now at their lowest in more than 11 years.

The naira has depreciated by over 13 per cent in less than two weeks.

However the central bank has left its official rate unchanged at N197 to the dollar on its interbank window.