Nigeria’s currency, the Naira, has once again declined against the US dollar, trading at N777.82 at the Investors’ and Exporters’ window.
According to NAN, the Naira fell 1.26 percent versus the previous day’s exchange rate of N768.16 to the US dollar.
On Friday, the open indicative rate was N779.58/$1.
The highest spot exchange rate recorded during the day’s trade was N844/$1, before it closed at N777.82.
During the day’s trade, the Naira went for as little as N700 to the USD.
At the official window on Friday, $77.99 million was exchanged.
The country’s currency has fluctuated against the US dollar since foreign exchange rules were implemented in June.
Financial experts blamed the difficulties on sabotage, which created artificial shortages by removing money from the foreign market.
