Naira goes down to 557 against dollar

15 Sep Naira goes down to 557 against dollar

The Naira continued its plunge at the parallel market on Tuesday.

According to abokiFX.com, a website that collates the parallel market rates in Lagos, the local unit closed at N557.00 per $1, a N2.00 or 0.20 per cent depreciation from the N550.00 it exchanged on Monday.

However, the Naira slightly against the greenback currency at the official market on Tuesday as foreign exchange supply increased slightly.

Data recorded on the FMDQ securities exchange window where forex is officially traded, showed naira closed at N412.08 per $1 at the official window on Tuesday.