The Nigerian Naira on Wednesday, February 15, dropped three points and crashed against the American dollar at the parallel market to N510 from the N507 recorded on Tuesday, February 14.
The local currency also depreciated to N625 against the Pound sterling from the N620 rate of yesterday.
Dollar to Naira
BREAKING: Naira crashes to N507 per dollar at parallel market
The Naira also crashed against Euro to trade at N535 as against the N530 rate of yesterday.
Economic and financial experts are divided over the outlook for the Naira this year but many have said the local currency may depreciate further in the coming months.
Recall that the CBN two weeks ago, sold $660m in
PAY ATTENTION: Get the latest News on ZENITHBLOG.com News App
But traders said it was not enough to satisfy the market.
Meanwhile, you can check out ZENITHBLOG.com’s Bureau De Change ‘market’ here for the best rates on foreign exchange.
0naze
No comments:
Post a Comment