Naira depreciation continues

21 Sep Naira depreciation continues

The naira defied verbal interventions of the Central Bank of Nigeria in its downward slide against other currencies, exchanging N580 to the dollar at the parallel market on Monday, from N570/$ on Friday.

But following the crackdown on AbokiFX, the official website of the Central Bank of Nigeria’s licensed Bureau De Change operators, www.naijabdcs.com, used for the publication of exchange rates of the naira to other currencies did not publish rates on Monday.

At the CBN’s official market, the naira hit a high of 415/$ but closed at 413.68/$ at the I&E forex window on Monday.