After recording an early success against other currencies, the naira has depreciated further despite the intervention by the CBN.
The Naira on Friday depreciated against the dollar at the parallel market after posting days of appreciation, the News Agency of Nigeria (NAN) reports. The nation’s currency lost N7 to exchange at N465 to a dollar after closing at N458 on Thursday, while the Pound Sterling and the Euro traded at N542 and N480.
At the Bureau De Change (BDC) window, the Naira traded at N399 to a dollar, CBN controlled rate, while Pound Sterling and the Euro closed at N610 and N520.
Trading at the interbank market saw the Naira sold at N305.25 to a dollar
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