Naira crashes: Nigerian currency, naira has crashed to N458 per dollar as against the N455 it closed March 1.
The Naira also weakened to N540 against the Pound Sterling from the previous rate of N535 and to N475 against the Euro as against the previous rate of N460.
Last week, the value of the Naira recorded the highest and fastest gain of 11.9 per cent in four days at the parallel market, in over three years.
This follows the Central Bank of Nigeria (CBN) decision to sell a total of $372.4 million to ease the pressure on the local currency.
Financial experts had predicted that the local currency will continue to appreciate if the status quo was maintained.
CLICK HERE to join our BBM Channel for juicy updates & free giveaways
- 10 world’s richest people of all time – Bill Gates is not even on the list & #7 is an African (With Pics)
- 21 World famous celebrities you never knew were Nigerians – This will shock you! (With Pictures)
- Top 20 richest Nigerian musicians and their net worth, Davido Beats Wizkid – #3 is a new comer
- LADIES: 13 things you should do to keep your man – EVERY MAN loves #11
- 10 Nollywood celebrity marriages that have lasted more than 15years – You wont believe #8 is even married
- 10 Richest football club owners in the world – Number 3 is a Nigerian club owner (With Pictures)
- I found an iPhone on the ground and what I found in its photo gallery terrified me..
- The 8 celebrity husband snatchers in Nigeria – See how they stole other women’s husbands