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Nigerian naira on Monday crashed further by 1.94 per cent to 413 per dollar at the parallel market.
The currency closed flat at 490, 425 against the Pound sterling and Euro respectively at the black market segment.
At the official market, the currency closed flat after losing about 7 per cent at midday trading.
This development is coming as the Central Bank of Nigeria (CBN) auctioned $418 million at a marginal rate of N310 to a dollar, to airlines, agriculture, petroleum and raw materials sub sectors.
The Acting Director, Corporate Communications Department, CBN Mr. Isaac Okorafor, stated on Sunday that the $480 million offered last week was in addition to the $350 million sold as wholesale auction for travel allowance and school fees at the same period.
Related: 5 Reasons Why Naira is Depreciating Against Dollar
The currency closed flat at 490, 425 against the Pound sterling and Euro respectively at the black market segment.
At the official market, the currency closed flat after losing about 7 per cent at midday trading.
This development is coming as the Central Bank of Nigeria (CBN) auctioned $418 million at a marginal rate of N310 to a dollar, to airlines, agriculture, petroleum and raw materials sub sectors.
The Acting Director, Corporate Communications Department, CBN Mr. Isaac Okorafor, stated on Sunday that the $480 million offered last week was in addition to the $350 million sold as wholesale auction for travel allowance and school fees at the same period.
Related: 5 Reasons Why Naira is Depreciating Against Dollar