The naira at the end of trading on Monday, depreciated further against the United States Dollars.
According the Central Bank of Nigeria (CBN), the naira traded exchanged for N1,605.6284 per dollar on the Nigerian Foreign Exchange Market (NFEM).
Journalist101 recalls that the local currency exchanged for N1,602.1811 per dollar on Friday. This means that the local currency lost N3.4473 between Friday and Monday.
Interestingly, the Nigerian currency exchanged for N1600 per dollar on the parallel market often reffered as the black market.
