Naira declines further against the dollar in currency swap

The Naira lost more value against the dollar on Friday, trading for N472.50 at the Investors and Exporters window.

Comparing the local currency to the N469.50 it exchanged for the dollar on Thursday, it showed a 0.64 percent decline.

On Friday, the open indicative rate reached a high of N471.32 to the dollar.

Before it settled at N472.50, the highest exchange rate ever seen during the day’s trading was N477 to the dollar.

In the course of the day’s trading, the Naira fell as low as 460 to the dollar.

On Friday, transactions at the official Investors and Exporters window totaled 77.42 million dollars.