Naira Continues to Depreciate Against Dollar…See Latest Exchange Rate

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The naira has continued to record loss against the dollar at the exchange rate market.The dollar has maintained its gain against the naira on Thursday.

At the parallel market, the naira exchanged at N478 to dollar as importers and manufacturers push unmet foreign exchange (forex) demand from official market into the parallel market.

The naira was last week exchanging at N470 to dollar, losing N8 in the last four days.

Data from the Central Bank of Nigeria (CBN) showed that spot rate or official exchange rate have remained stable at N379/$1.

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