Strange As Dollar Gains More, Naira Keeps Dropping

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…even with the new Naira redesign policy.


It is very sad that Naira keep loosing value to the dollar exchanging for N461.67 at the Investors’ and Exporters’ window.



And this rate represented a decrease of 0.04 per cent, compared to the N461.50 for which it exchanged to the dollar at the close of business on Friday.


However, the open indicative rate closed at N461.50 to the dollar on Monday and having an exchange rate of N462.50 to the dollar seems to be the highest rate recorded within the day’s trading before it settled at N461.67.


The naira sold for as low as N445.96 to the dollar within the day’s trading.


Having a total of 77.64 million dollars was traded at the official Investors’ and Exporters’ window.



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