Naira crashes to record low at official market


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.