Naira crashes to dollar again

the Naira

Naira and Dollars

By Lydia Ngwakwe

The Naira on Thursday depreciated at the Investors and Exporters window, exchanging at N419.50 to the dollar, a 0.12 per cent depreciation, compared to N419 on Wednesday.

The open indicative rate closed at N418.83 to the dollar on Thursday.

An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N419.50.

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The Naira sold for as low as 413 to the dollar within the day’s trading.

A total of 760.20 million dollars was traded in foreign exchange at the official Investors and Exporters window on Thursday.

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) has risen from N583 to sell at N610 on Wednesday, 1st June.

The dollar has been gaining series of advantage over the Nigeran currency in recent times.

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