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

About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

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