The Naira extended losses to N425 to the dollar at the parallel market on Thursday, September 1, from N423 the previous day.
On Wednesday, the Nigerian currency sustained its free fall at the parallel market hitting N420 to the dollar, even as dollar sales by the Central Bank of Nigeria ,CBN, boosted liquidity at the interbank market.
It had weakened to N420 from N407 which it closed on Friday last week, indicating a 3.2 per cent decline within three days. Traders said dollar sales by the apex bank to some banks supported the currency at the official market.
However at the interbank market on Thursday, September 1, the spot rate of the naira climbed to N313.31 to the dollar yesterday, compared with the N316.24 to the dollar the previous day.
