Naira depreciates, sells at N364.22 to dollar

The Naira on Tuesday was sold at N364.22 to the dollar at the investors’ window in Lagos, with a turnover of 147.30 million dollars, the News Agency of Nigeria (NAN) reports.

While it was sold at N306.80 to the dollar at the official CBN window, it exchanged at N364 to the dollar at the parallel market in Lagos.

The Pound Sterling and Euro closed at N480 and N415, respectively.

NAN reports that in spite of the weekly interventions of the CBN on the exchange rate, the naira continues to depreciate.

Reports show that the CBN has since the beginning of the year injected close to 11 billion dollars into the foreign exchange market to shore up the value of the currency.




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