The naira plunged further at the parallel market on Monday, November 29, as it lost N0.5 to exchange at N242.5 to the dollar.
It was previously exchanged at N242 to the dollar. The local currenvy however, closed at N197 to the dollar at the inter-bank segment.
The News Agency of Nigeria (NAN) reports that the naira has continued to slide in spite of the measures adopted by the apex bank to defend the exchange rate.
Traders at the market said that there was spike in demand for foreign exchange and this was impacting on the exchange rate of the naira.
Source- By Lolade Odeyemi – The Herald.
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