The Nigeria’s unit of exchange, Naira, at the weekend shed N2 in value against the dollar, dropping to N480/$1. The new value of naira was recorded on Friday from N478/$1 on Thursday at the parallel market. Data obtained from “Abokifx,” a website that tracks forex rates on the parallel market, shows that after falling to N487 per dollar in late November, the naira appreciated to N465/$1 during the Christmas festivities. It, however, resumed its downward trend a fortnight ago, dropping to between N475 and N478 per dollar, due to…
Read MoreNaira Sheds N2, Downgrades To N480 per $1
