Naira in free fall again, check today's Rates

The naira on Thursday continued a downward slide in value by 1.68 per cent against the dollar at the official market.

Godwin Emefiele
Godwin Emefiele

At the Investor & Exporter foreign exchange window, the local currency, which initially opened at 413.15/$1 on Thursday later closed at 422.07/$1.

The naira had continued to depreciate faster than imagined since the Central Bank of Nigeria (CBN) stopped the sale of forex to the Bureau de Change operators while assuring that it would supply forex to legitimate users through the banks.

Meanwhile, the dollar at the parallel market was bought at N565 and sold for N570, according to some operators in the black market.

Although, the CBN maintained N410.91/$1 as its official rate on its website.

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