Naira Further Crashes Down to N361.91 Per Dollar
The Naira, yesterday, depreciated by 22 kobo to N361.91 per dollar in the Investors and Exporters window.
Vanguard reports that data from FMDQ showed that the indicative exchange rate for the window rose to N361.91 per dollar yesterday from N361.69 per dollar on Wednesday, indicating 22 kobo depreciation of the naira. On the other hand, the naira was stable at N358 per dollar yesterday in the parallel market.
The week witnessed a recurring low decimal with an instability on the naira. Recall that on Tuesday, July 17, there was a major depreciation of 70 kobo to N358.7 per dollar in the parallel market even as the Central Bank of Nigeria (CBN) injected $210 million into the inter-bank forex market.
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