Categories: News

Naira Crashes To Record Low At Official Market

The value of the naira fell further by 1.68 per cent 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 per cent to 415.10/$1 on Wednesday after closing at 414.30/$1 on Tuesday.

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.

CBN’s strategies to save Naira failing, says LCCI
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.

thepublisherngr

Recent Posts

Wema Bank to seek shareholders’ approval for N200 billion capital raise

Wema Bank Plc, one of the nation’s oldest commercial banks, will seek shareholders’ approval to raise…

4 hours ago

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 3rd May 2024

What is the Dollar to Naira Exchange rate at the black market also known as…

6 hours ago

Okuama Community Drags Nigerian Army To Court, Seeks ₦100 Billion In Damages

The Federal High Court in Warri, Delta State, commenced proceedings on Thursday on a lawsuit involving the…

7 hours ago

Yahaya Bello’s govt rough, marred by corruption, killings – Edwin Clark

Elder statesman, Chief Edwin Clark, has told the former Kogi State Governor, Yahaya Bello to…

7 hours ago

Breaking: Police Arrest Alleged Mastermind Behind Abuja-Kaduna Train Attack

The Nigerian Police has arrested the alleged mastermind behind the violent assault on the Abuja-Kaduna…

23 hours ago

Peter Obi To Umahi: Your Claims Of Inciting Igbos Against FG Baseless

The presidential candidate of the Labour Party in the 2023 election, Peter Obi has described…

23 hours ago