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Nigerian naira on Friday continued depreciation week after sustaining massive gain at the parallel market.
The currency fell by 1.5 per cent to close at 465 per dollar from 458 its closed on Thursday.
The currency also crashed against the British pound and Euro to 542 and 480.
At the Bureau De Change window, the Naira was sold at N399 to a dollar, the Central Bank of Nigeria-controlled rate, while the Pound Sterling and the Euro closed at N610 and N500 respectively.
The Naira remained stable at N305.25 to a dollar at the inter-bank window which has been pegged by the Monetary authority since last year.
Despite recent measures by the Central Bank of Nigeria (CBN) to ameliorate the difficulty in sourcing for dollars, the scarcity still persists.
A recent survey by Dailytrust revealed that a week after CBN directed commercial banks to open foreign exchange outlets at major airports to sell dollars and other foreign currencies to travelers, no bank has complied with the directive.
Instead the scarcity persists as intending passengers are still unable to get dollars at the point of travelling.
The currency fell by 1.5 per cent to close at 465 per dollar from 458 its closed on Thursday.
The currency also crashed against the British pound and Euro to 542 and 480.
At the Bureau De Change window, the Naira was sold at N399 to a dollar, the Central Bank of Nigeria-controlled rate, while the Pound Sterling and the Euro closed at N610 and N500 respectively.
The Naira remained stable at N305.25 to a dollar at the inter-bank window which has been pegged by the Monetary authority since last year.
Despite recent measures by the Central Bank of Nigeria (CBN) to ameliorate the difficulty in sourcing for dollars, the scarcity still persists.
A recent survey by Dailytrust revealed that a week after CBN directed commercial banks to open foreign exchange outlets at major airports to sell dollars and other foreign currencies to travelers, no bank has complied with the directive.
Instead the scarcity persists as intending passengers are still unable to get dollars at the point of travelling.
