Naira is Dying: Naira falls to N349/$ in parallel market

he naira, yesterday, suffered its biggest daily depreciation against the dollar as it exchanged for N349 to a dollar in the parallel market.

This represents N20 depreciation when compared with the closing exchange rate of N325 per dollar in the market on Friday.

The naira also depreciated by N45 against the British pound as the parallel market exchange rate rose to N485 per pound, yesterday, from N340 on Friday.

Vanguard News