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Naira in another record fall at black market

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The currency also fell at the official market.

fell significantly against the U.S. dollar at the black market on Thursday as the currency exchanged hands with the greenback currency at N540.00, the lowest rate ever traded at the segment.Similarly, the domestic currency fell slightly against the U.S. dollar at the official Investors and Exporters window as the foreign exchange supply decreased sharply.

This implies a N0.17 or 0.04 per cent depreciation from the N411.50 rate it traded in the previous session on Wednesday. This became effective as forex supply decreased by 61.20 per cent with $114.68 million recorded at the market session against the $295.39 million posted in the previous session on Wednesday.

 

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