Currency Swap: Naira Drops Further Against Dollar

Naira on Friday depreciated further against the dollar at the Investors and Exporters window, exchanging N472.50 to the dollar.

The local currency showed a 0.64 percent decrease when compared with N469.50 it exchanged for the dollar on Thursday.

The open indicative rate closed at N471.32 to the dollar on Friday.

An exchange rate of N477 to the dollar was the highest rate recorded within the day’s trading before it settled at N472.50.

The Naira sold for as low as 460 to the dollar within the day’s trading.

A total of 77.42 million dollars was traded at the official Investors and Exporters window on Friday.