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Naira Hits N350 Per Dollar At Interbank Market


The Naira recorded an all-time low of 350 to the dollar during trading at the interbank market on Tuesday, August 9, 2016.

Business Post correspondent gathered that this has further given some foreign investors another reason to stay away from the Nigerian economy at the moment.

On Monday, it was reported that some foreign airlines have decided to shun their businesses in the country because of the “crazy” exchange rate.

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Business Post further learnt that today at the marker, the Naira was offered at 313 to the dollar and a total of $3.11 million had already been traded by 1:30pm Nigerian Time.

At the parallel market, the Naira still exchanged for 395 to the dollar just like yesterday.

Last week, the Naira exchanged for 400 to the dollar.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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