Naira crashes further against dollar at parallel market

PwC says naira may fall to N386

The Naira on Thursday depreciated at the parallel market, exchanging at N368 to the dollar.

The Naira lost N4 compared to N364 traded on Wednesday while the Pound Sterling and the Euro closed at N470 and N410 respectively.

At the Bureau De Change (BDC) window, the Naira was sold at N360 to the dollar, while the Pound Sterling and the Euro closed at N470 and N410, respectively.

Investors bought the dollar at N364.08 at the investors’ window, trading a total of 516.57 million dollars.

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Nigeria’s import needs and the crash in crude oil prices, according to analysts, are exerting pressure on the local currency.  

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