Business Naira Depreciates Further Against The Dollar

L

LequteMan

Guest
The Nigerian Naira on Monday experienced a further depreciation against the dollar at the parallel market.

The naira lost N1.50 to the dollar as it was traded at N225.5 to the dollar at the parallel market on Monday afternoon.

naira dollar.jpg

This is against the N224 to the dollar recorded last Friday.

Meanwhile, the official interbank rate also dropped by 0.05 to N196.95 to the dollar.

Traders at the parallel market attributed the depreciation of the naira at the market to insufficient quantity of dollar at the market.
 
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