Naira crashes to record low at official market

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On Thursday, the naira lost another 1.68 percent against the dollar on the official market. On Thursday, the local currency began at 413.15 to the dollar at the Investor & Exporter foreign exchange market, but finished at 422.07 to the dollar. After ending at 414.30/$1 on Tuesday, the naira declined by 0.19 percent to 415.10/$1 on Wednesday. According to certain black market operators, the dollar was bought at N565 and sold at N570 on the parallel market.