Naira crashes further against dollar at parallel market

By : NAN

Date: 29 November 2018 7:08pm WAT

This picture taken on January 29, 2016 in Lagos shows 1000 naira banknotes, Nigeria's currency. Nigeria's central bank governor, Godwin Emefiele, on January 26 dismissed calls to devalue the naira in his monetary policy committee statement. Instead he chose to continue propping up the currency at 197-199 naira to the dollar and maintain foreign-exchange restrictions. As a result, the naira on the black market is hovering around a record low of 305, fuelling complaints from domestic and foreign businesses who can't access dollars required for imports. / AFP / PIUS UTOMI EKPEI (Photo credit should read PIUS UTOMI EKPEI/AFP/Getty Images)

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

The News Agency of Nigeria(NAN) reports that 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 .