Naira depreciation continues, falls to N473/$ in parallel marketplace


The Naira depreciated further to N473 in line with dollar in early morning trades inside the Lagos section of the parallel marketplace, consistent with naijabdcs.Com platform of the affiliation of Bureaux De change Operators of Nigeria (ABCON).

This represents 50 kobo loss while as compared to the ultimate rate of N472 according to greenback the day before today.

Cumulatively, the naira has misplaced 30 percentage of its value to the u.S.A.Greenbacks given that December thirty first when the parallel market price stood at N362 per dollar.

Analysts expects the naira to depreciate in addition as greenback scarcity intensifies because of the four months suspension of greenback sales to bureaux de alternate (BDC) operators via the primary financial institution of Nigeria (CBN)

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