Economy

Naira further Slumps against Dollar at N420

Naira depreciates further, exchanges at N420.33 against the dollar,
Written by Maritime First

The Naira on Thursday slumped, rushing further south at the Investors and Exporters window, as it exchanged at N420 to the dollar, a 0.30 per cent depreciation, weaker than N418.75 traded on Wednesday.

The open indicative rate closed at N416.50 to the dollar on Thursday.

Also read: Yo-yo: Naira loses marginally against dollar at Investors and Exporters window

An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N420.

The Naira sold for as low as 412.38 to the dollar within the day’s trading.

A total of 160 million dollars was traded in foreign exchange at the official Investors and Exporters window on Thursday.

 

 

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Maritime First