Naira Loses Against the Dollar... See Latest Value

Bundles of naira note

 

The Naira on Tuesday depreciated marginally against the dollar at the parallel market, newsmen report.

 

The Nigerian currency on Tuesday afternoon lost one point to exchange at N391 to the dollar, weaker than N390 posted on Friday, while the Pound Sterling and the Euro closed at N498 N420 respectively.

 

At the Bureau de Change (BDC) window, the Naira was sold at N362 to the dollar, while the pound sterling and the Euro exchanged at N490 and N417 respectively.

Naira is Now Worst Performing Currency in Africa – Economist

Sometimes the worst is not bad enough. Or such is the case for Nigeria’s currency, which nosedived by 30% when the central bank first removed its peg to the dollar on June 20th. The naira is now this year’s poorest-performing currency in Africa. 

Internationally, Nigeria's Naira is only better than the currencies of Venezuela and tiny Suriname. 

Yet were the Naira truly free, it would be weaker still.