Free Fall For Naira As It Racks Up Losses Against Dollar
May 12, 2022
6:13 am
Tumultous conditions on Wednesday has seen the Nigerian Naira crashing and depreciating at the Investors and Exporters window, exchanging at ₦418.75 to the dollar, a 0.12 per cent depreciation, which was weaker than ₦418.25 traded on Tuesday.
After this crash, the open indicative rate closed at ₦417.70 to the dollar on Wednesday.
An exchange rate of ₦444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at ₦418.75. The Naira also sold for as low as 410 to the dollar within the day’s trading.
A total of 115.78 million dollars was traded in foreign …
