Friday, 17 February 2017

Naira Crashes to N516 per dollar

dollar to naira exchange rate today

The naira on Thursday, crashed at the parallel market from 510 per US dollar on Wednesday to 516/ dollar.

Punch reports that currency dealers on  Lagos Island, Egbeda and Murtala Muhammed Airport sold the dollar at 516 and bought same for 513.

The Naira had closed at 507 against the greenback on Wednesday as acute dollar shortage continued to weigh on the currency market.

The local currency traded at 507 /dollar on Monday and Tuesday on the black market.

Experts are however divided over the outlook for the naira this year. However, some analysts have predicted that the local currency will take a further beating against the dollar this year.

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