Naira crashes against dollar

Naira has crashed against the dollar.

IDOMA VOICe reports that the naira on Monday depreciated against the dollar at the Investors and Exporters window, exchanging at N431.

The figure represented a decrease of 0.67 per cent compared with the N428.12 it exchanged for the dollar at the close of business on August 5.

The open indicative rate closed at N429 to the dollar on Monday.

An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N431.

The Naira sold for as low as N415.50 to the dollar within the day’s trading.

A total of $115. 67 million was traded in foreign exchange at the official investors and exporters window on Monday. (NAN)