Naira Gains Further At Official Market, As Cash Crunch Bites Harder

Naira has gained further at the official market, as the cash crunch bites harder in Nigeria.

 

NewsOnline reports that the Naira gained further on Thursday as it exchanged at N461 to the dollar at the Investors and Exporters window.

 

The rate represented an increase of 0.05 percent, compared to the N461.25 for which it exchanged to the dollar on Wednesday.

 

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The open indicative rate closed at N461.25 to the dollar on Thursday.

 

An exchange rate of N462.11 to the dollar was the highest rate recorded within the day’s trading before it settled at N461.

The Naira sold for as low as N446 to the dollar within the day’s trading.

A total of 82.83 million dollars was traded at the official Investors and Exporters window.