Naira loses more value as 2020 ends


By Abba Gwale

Nigeria’s Central Bank has weakened the naira to a record low during trading at the investors and exporters market on Thursday.

The local currency closed at 410.25 naira to dollar at the Investors and Exporters (I&E) window, according to the website of the Lagos-based FMDQ OTC Securities Exchange.

CBN has devalued naira twice last year by 24% from an official rate of 306.5 in January, and the latest change on FMDQ will be third.

Related articles

Recent articles