The Naira plummeted at the parallel market from N510/dollar on Wednesday, February 15, to a new record low of N516/dollar.

The local currency also depreciated to N630 against the Pound sterling from N625 and crashed against Euro to trade at N538 from N535.

Dollar to Naira

Dollar to Naira

READ ALSO: BREAKING: Naira falls to N510 per dollar at parallel market

Economic and financial experts are divided over the outlook for the Naira this year but many have said the local currency may depreciate further in the coming month

Advertisements