Naira falls at official market amid cash crunch

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Naira closed at N461.60 per $1 at the spot market on Wednesday, depreciating by 0.1 per cent.

Naira fell slightly against the United States dollar at the Investors and Exporters window on Wednesday, a day after it recorded marginal gain at the spot market in the midst of currency scarcity across the country., where forex is officially traded, the local currency closed at ₦461.60 per $1 on Wednesday.

The Naira which opened the day’s trading at N461:35 per $1, hit an intraday high of N446.00 and declined to a low of N462.01. The local unit eventually settled at N461.60 on Wednesday with $81.95 million posted as forex supply within the business period.

 

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