The Naira’s value continued to plummet on Thursday, falling to N1,610 to a US dollar (USD) in the parallel market while rising at the Nigeria Autonomous Foreign Exchange (NAFEX) window.
At the close of business on Thursday, the Naira had risen to N1,498.25 per dollar from N1,515.28 at the NAFEX window. The value of the local currency fell on Wednesday, despite a $117.87 million input into the market.
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On the parallel market, the Naira’s value continued to fall, with transactions ranging from N1,610 to N1,615 to the dollar on Thursday, down from N1,550 the day before.