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8 Nov 2016

Naira Crashes Again, Falls 6.48% At Interbank Market, Today's Exchange Rate Is Shocking

The Naira on Tuesday crashed freely at the official interbank market, according to data from the FMDQ OTC platform.
At the Bureau De Change (BDC) segment, on Monday, the naira closed at N385 against the dollar, CBN rate, while the Pound Sterling and the Euro closed at N564 and N510 respectively.

Trading at the parallel market also saw the naira exchanged at N470 to the dollar, while the Pound Sterling and the Euro traded at N560 and N510 respectively.

Traders at the market express hope that the naira would see better days as Diaspora remittances was expected to boost liquidity at the yuletide season.

Below is a table showing the exchange rates for today:
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