Naira crashes to record low at official market

15 Oct 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 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.