Friday, 18 August 2017

Naira Crashes Further At Exchange Market

The Nigerian naira on Thursday, August 17, 2017 continued to lose strength against the US dollar at the parallel market.
According to Daily Post, the currency lost one point to exchange at N368, weaker than N367 posted on Wednesday, while the Pound Sterling and the Euro closed at N478 and N432.
At the Bureau De Change (BDC) window, the naira was sold at N363 to the dollar, while the Pound Sterling and the Euro closed at N478 and N432.
Naira Crashes Further At Exchange Market

However, the naira moved up at the investors’ window, exchanging at N361.17 stronger than N362.39.
Traders at the market told newsmen that in spite of the weekly auction of foreign exchange by the Central Bank of Nigeria (CBN) to BDC, the naira continued to fall drastically.