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Naira Depreciates Against Dollar, Pounds Sterlin Consecutively

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Naira, Dollar, pounds Sterlin naira depreciates against dollar, pounds sterlin consecutively - images 26 1 300x200 - Naira Depreciates Against Dollar, Pounds Sterlin Consecutively

Naira, which is Nigeria’s currency has depreciated against it foreign rival currencies, Dollars and Pounds Sterlin.

About four weeks ago, the Nigerian Naira was exchanged with Dollar for the price of #362, while it was been exchanged with the Pounds Sterlin at the price of #420.

However, the Naira has loose more of it value further, as it is being exchanged with Dollar and Pound Sterlin, for the prices of #430 and #480.92 respectively.

 

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This fall in price of the Naira as against the dollar and Pounds Sterlin is as a result of Premium Crude Oil, Bonny Light being sold below $10.

This pressured the Nigerian Naira, as less of Naira and more of Dollars is being demanded.

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