Naira Depreciates Further Amidst Subsidy Removal

Naira on Thursday lost against the dollar at the Investors and Exporters window, exchanging N702.19 to the dollar.

The local currency depreciated by 5.75 per cent when compared with N664.04 for which it exchanged for the dollar on Wednesday.

The open indicative rate stood at N658.50 to the dollar on Thursday.

How Two Nigerian Billionaires Lost $5.85 Billion Within 24 Hours Of Naira Float

An exchange rate of N791 to the dollar was the highest rate recorded within the day’s trading before it settled at N702.19.

The Naira sold for as low as 461 to the dollar within the day’s trading.

A total of 70.72 million dollars was traded at the official Investors and Exporters window on Thursday.

(NAN)

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