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Nigerian Naira depreciated 0.96 percent against United States dollar sixty one business days after the Central Bank of Nigeria removed peg on the Nation's currency.
The currency closed 313.07 naira to a United States dollar at the Inter-bank market.
At the parallel market, the currency hit a new record low of 436 on Thursday as dollar shortages on the official market persist, funneling importers to the unofficial market, amidst declining currency reserves in Africa’s biggest economy, traders said.
Naira Watch: Tracking Nigeria's Currency [Day 63]
Wednesday Closed: N308.08
Today Open: N3i5.25.
High Rate: N315.75
Low: N314.25
The currency closed 313.07 naira to a United States dollar at the Inter-bank market.
At the parallel market, the currency hit a new record low of 436 on Thursday as dollar shortages on the official market persist, funneling importers to the unofficial market, amidst declining currency reserves in Africa’s biggest economy, traders said.
Naira Watch: Tracking Nigeria's Currency [Day 63]
Wednesday Closed: N308.08
Today Open: N3i5.25.
High Rate: N315.75
Low: N314.25