This is not new. It has been more than a week ago that naira depreciated to 1419 naira. It later fell below 1300 some days ago and fell to almost 1260 naira. The price of naira today is 1315 naira to a dollar.
The CBN is only trying to do what is not. Why should they increase naira value when it supposed not to. Even if they will increase it, from 1800 to 1100 naira is kind of too much. The market later correct itself to 1300 is what that happened.
Just when I think say things go soon better with the way the currency rate been dey high we now done dey experience depletion of naira this one off me.
The price of a currency does not matter. What matters is a stable economy and how the currency price is stable. The government are unable to give us these.