Naira Crashes Again

The value of the naira has reportedly fallen further by 1.68 per cent against the dollar at the official market on Thursday.

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

Apparently, on Wednesday, the naira depreciated by 0.19 per cent to 415.10/$1, after closing at 414.30/$1 on Tuesday.

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

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

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Chukwu Ebuka
Chukwu Ebuka is a news editor, and Certified Blogger, Ecocitytvnews.