Naira Drops After Remaining Stable For Sometime

The Naira has again depreciated against the dollar, Vanguard reports.

The naira, on Thursday depreciated against the dollar at the Investors and Exporters window, exchanging N469.50 to dollar.

The local currency showed a 1.04 per cent decrease when compared with N464.67 it exchanged for the dollar on Wednesday.

The open indicative rate closed at N468.94 to the dollar on Thursday.

An exchange rate of N476.50 to the dollar was the highest rate recorded within the day’s trading before it settled at N469.50.

The naira sold for as low as 460 to the dollar within the day’s trading.

A total of $74.18 million dollars was traded at the official Investors and Exporters window on Thursday.