Naira weakens at N500/$1 after new rates by CBN

01 Dec Naira weakens at N500/$1 after new rates by CBN

The naira, on Monday, weakened further at N500 to the dollar after the Central Bank of Nigeria (CBN) adjusted the exchange rate across foreign exchange market segments on Friday last week.

At the Bureau de Change segment of the market, the naira weakened further by N5 as the dollar sold for N500 on Monday, as against N495 on Friday.