Naira Falls Against US Dollar

The Nigerian currency, the naira depreciated against the dollar at both the official and Bureau de Change segments of the foreign exchange market in Lagos on Friday.

The naira, which was N156.06 to the dollar at the official segment on Thursday, depreciated to N157.21 to the dollar on Friday.

The naira was traded at N159.5 to the dollar at the Bureau de Change segment on Friday, against the N158.5 that obtained on Thursday.

Some operators said that the depreciation of the local currency might continue until the conduct of the Wholesale Dutch Auction at CBN on Wednesday.