Naira Hits Another Low: Things are not looking good for the naira against the dollar as it continues to depreciate against the dollar in the new year. The naira has continued its abysmal run as it has dropped against the United States dollar to 499 on Tuesday, from 498 on Monday. According to Reuters, this is as a result of the lingering scarcity of the greenback in the market. The local currency had hit 500/ dollar on Friday, from 498/dollar it had recorded last Thursday. This came about one week after the naira touched 500/dollar briefly and reserved back to 498/dollar.
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