The Naira further dipped by 1.49 percent to close at N312.98 against one US Dollar at the Spot market Tuesday, September 27, compared to 0.19 percent lost on Monday, when the it closed at N308.37 to a US Dollar.
The local currency also took a 0.9 percent plunge at the parallel market, having traded at N450/US$ compared to N446 sold previously.
The Naira/Pounds Sterling rate weakened to N570 compared to N564 to one Pound from Monday, while the Euro remained stable at N490 same as previous day’s rate.
Meanwhile, data from the Central Bank of Nigeria, CBN, showed that the Nigeria Three Month Interbank Rate (Nibor) was quoted at 0 percent as at Tuesday.
Interbank rate in Nigeria averaged 14.02 percent from 2007 until 2016, reaching an all time high of 38.96 percent in September of 2013 and a record low of 0 percent in September of 2016.
