Tag forex scarcity naira hits 418dollar at parallel market

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Forex Scarcity: Naira Hits 418/Dollar at Parallel Market

This tag captures the essence of the news article, highlighting the scarcity of foreign exchange (forex) in Nigeria, which has led to a significant depreciation of the naira against the US dollar. The parallel market rate of 418 naira per dollar is a stark contrast to the official rate, indicating the severity of the forex scarcity issue in the country.