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Naira Takes Another Plunge Against The Dollar

The Nigerian naira has yet again plummetted against the dollar on the parallel market. The Naira lost one point to exchange at N368, weaker than Wednesday’s N367.

The Pound Sterling and the Euro closed at N478 and N432 on Thursday. At the Bureau de Change(BDC), the naira exchanged at N363 to a dollar, while the Pound sterling and Euro closed at N478 and N432 respectively.

The Investors window showed a bit of promise as the naira exchanged at N361.17, much better than the previous N362.39.

Traders at the market told journalists that in spite of the weekly auction of foreign exchange by the Central Bank of Nigeria (CBN) to BDC, the naira continues to fall seriously.

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