Struggling Naira sinks to lowest level in weeks

Nigeria’s currency, the Naira closed the week, falling to its weakest level in six weeks as Central Bank of Nigeria interventions failed to save it against battering by US Dollar.

On Friday, the Naira exchanged for between N460 and N470 per dollar, at the parallel market, the lowest since September 29, ngnrates.com and abokifx.com, reported.

Rates at the BDC were only slightly better: the exchange rate was N455/N468.

However, the Central Bank offered the dollar at 382.10 per dollar on the spot market, where it sells limited amounts of the greenback bank to importers.

– PmnewsNigeria