Nigeria’s currency, the Naira faced further depreciation in value on Wednesday at the parallel market, reaching an all-time low of N1060/$1. The Nigerian currency closed at N848.12/$1 at official market Tuesday, against N778.80/$1 reported on Monday. Findings show that the Naira went down from N1,100 to USD1.0 mid-day in the parallel market before settling at N1,060 in the major trading hubs in Lagos. It had hovered around N1,025 in the past month in the parallel market. Though the exchange rate at the official Nigerian Forex Market, the Investors & Exporters…
Read MoreNAIRA FALLS DEEPER, EXCHANGES AT 1060/$ AT PARALLEL MARKET
