Naira Continues To Crash Down at official market



The value of the naira falls again by 1.68 % against the dollar at the official market on Thursday.

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

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

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

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

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


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