Naira Falls To Record Low At Official Market

Dollar to Naira

The value of the naira plummeted further by 1.68 per cent against the dollar at the official market on Thursday.

The local currency opened at 413.15/$1 on Thursday at the Investor & Exporter foreign exchange window but closed at 422.07/$1.

The naira had depreciated by 0.19 per cent to 415.10/$1 on Wednesday after closing at 414.30/$1 on Tuesday.

At the parallel market, the dollar was bought at N565 and sold for N570, according to some operators in the black market.

However, the Central Bank of Nigeria maintained N410.91/$1 as its official rate on its website.

The CBN had in July stopped forex sales to the Bureau de Change operators and assured that it would supply forex to legitimate users through the banks.


Comments expressed here do not reflect the opinions of Vantage News Nigeria or any employee thereof.

See also  Just In: Royal Mint Unveils First Image Of King Charles Coin

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.