UPDATE: Naira Continues to Fall, now N650 Per Dollar
The Nigerian currency has again sunk to a new low as it now exchanges for N650 against the U.S. dollar in the parallel market.
This is coming less that than an hour after ECONOMIC CONFIDENTIAL reported that the currency was exchanging for N645 per dollar.
Also Read: Naira Falls Again to N645 Per Dollar
Data from Aboki Forex, gotten earlier in the day, revealed that the naira, which traded for N620 against the dollar on Monday and N630 on Wednesday, had fallen to N645.
Latest information from an authoritative source is now saying that the free fall of the naira has continued in the last few hours, as it is now exchanging for N650 per dollar.
More updates later…