Naira crashes further against dollar at parallel market

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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 .

Traders said that demand for dollars for import needs were exerting undue pressures on the Naira.

NAN reports that many importers at the end of the year imported a lot of fairly used items into the country.

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