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Naira Weakens Against the Dollar
|Naira Weakens Against the Dollar by Editor: 10:25 am On March 3, 2017|
The Nigerian naira has halted its significant progress at the parallel market as it weakens against other currencies.
Following its recent recovery, the Nigerian naira yesterday weakened against the dollar as it exchanged N458/$1 on Thursday. It had on Tuesday exchanged N430/$1 following the implementation of the Central Bank of Nigeria new Forex policy.
Recall that just last week, the value of the Naira recorded the highest and fastest gain of 11.9 per cent in four days at the parallel market, in over three years.
Financial experts had predicted that the local currency will continue to appreciate if the status quo was maintained.
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