Nigerian Naira Heads To The Rocks, Declines 0.3% to 294

Nigerian Naira on Wednesday keeps heading to its normal value as Central Bank of Nigeria hands off on the country's currency.

The naira declines 0.3% to 294.25 against the United States Dollar as of 2:54pm in Lagos, record low on a closing basis.

Also, Naira to dollar 3-month non-deliverable forwards fall 0.9% to 328 against the USD

On the black market, the naira on Tuesday depreciated further against the dollar exchanging at N368/$. The previous day, it traded at N365 per dollar.

Source:nigeriabulletin