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Naira falls again

Published By pmnews
Date 14th June, 2016
Court jails Lagos woman, Bose Lateef arrested by EFCC while hawking naira notes at Eko Club after she pleaded guilty to money racketeering.
Nigeria’s currency, the naira

Naira bundles: dollar rate now N360.
Naira bundles: dollar rate now N360.
The Naira on Monday fell against the dollar at the parallel market.

The Nigerian currency shed N8 to exchange at N360 to the dollar, from N352 it traded on Friday.

Also, the Pound Sterling and the Euro traded at N515 and N405 respectively.

Meanwhile, the official Central Bank of Nigeria (CBN) rate remained at N197 to a dollar.

Traders at the market attributed the unstable nature of the Naira to the scarcity of the greenback and hoarding of foreign exchange by currency speculators.

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