Naira Depreciates To 1,410 Against The Dollar

World Bank

The Nigerian currency, the naira has continued plunging, hitting a record low. 


The naira traded at N1,415 on Thursday, Jan. 25, a 3.66 percent decline from N1,365 traded on Tuesday, Jan. 23. 

READ ALSO: Insecurity: Do Not Panic, Abuja Is Safe – Wike Assures FCT Residents
Bureau de Change (BDC) operators, put the buying rate of the greenback at N1,400 and the selling price at N1,415.  


Meanwhile, on the official market, naira depreciated by 0.41 percent to N882.24 on Wednesday, Jan. 24, from N878.61 on Tuesday. 

READ ALSO: Supreme Court Orders Farouk Lawan to Serve Five-Year Sentence For Accepting $500,000 Bribe From Femi Otedola
The development comes after Olayemi Cardoso, governor of the Central Bank of (CBN), said the naira is currently undervalued.

Photo Credit: Getty

Leave a Reply