Naira Depreciates, Exchanges At 456.50 To Dollar

World Bank

The naira on Friday exchanged at 456.50 to the dollar at the Investors and Exporters Window.

The figure represented a decrease of 0.05 per cent, compared with N456.25 it exchanged on Thursday.

The open indicative rate closed at N451.38 to the dollar on Friday.

An exchange rate of N452 to the dollar was the highest rate recorded within the day’s trading before it settled at N456.50.

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The naira sold for as low as 440 to the dollar within the day’s trading.

A total of N155.86 million was traded at the official Investors and Exporters window on Friday.

The Central Bank of Nigeria has put in place several measures to curb the double exchange rate and vote buying, during the course of next year’s general election, including re-designing the naira.

READ ALSO: US, UK, Alerted Over Alleged Plot To Assassinate CBN Governor, Emefiele

Against the backdrop of complaints by the banking public that banks are not dispensing enough of the redesigned Naira notes the Governor of Central Bank of Nigeria, CBN, Mr Godwin Emefiele, has said that a total of 500 million units of the newly redesigned currency notes were ordered from the minting company.

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Photo Credit: Getty 

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