HomeNewsNaira Falls By N64/$1

Naira Falls By N64/$1

The Naira depreciated to N1,234.49 per US dollar on Monday compared to N1,169.99 on Friday.

Similarly, the parallel forex market tumbled to N1200 per Dollar on Monday from N1,100 on Friday, according to FMDQ data.

The development comes after the Naira depreciated three times last week after months of gains.

Central Bank of Nigeria, Governor Olayemi Cardoso, has said the nation’s foreign reserves were not being used to defend the value of the Naira against foreign currencies.

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