The Naira on Monday, November 7, crashed freely at the official Spot FX or interbank market, the News Agency of Nigeria, NAN reports.
The local currency exchanged at N350 to a dollar from N328 it traded last Friday, November 4 at the official interbank market.
Meanwhile, the naira exchanged at N470 to the dollar at the parallel market, while the Pound Sterling and the Euro traded at N560 and N510 respectively.
At the Bureau De Change (BDC) segment, the naira closed at N385 against the dollar, which is the Central Bank of Nigeria, CBN rate, while the Pound Sterling and the Euro closed at N564 and N510 respectively.
However, traders at the money market have expressed optimism that the local currency would in the nearest future attain stability as Diaspora remittances was expected to boost liquidity at the yuletide season.
