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Naira slips further at official market

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The currency has not moved significantly in the last few weeks.

Naira fell slightly against the U.S. dollar at the official market on Monday, extending its depreciation at the spot market segment to a second day.that the currency closed at N415.64 to a dollar on Monday, which implies a N0.11 or 0.03 devaluation from N415.53 it exchanged hands with the hard currency on Friday last week.

It reached an intraday range of N415.64 and high of N415.14 before closing at N415.64 at the close of business on Monday. At the black market in Abuja, dealers said the naira exchanged hands with the greenback currency at N565.00 per $1 on Monday and was sold at N570.00.

 

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