The value of the naira continued its free fall on Thursday, Feb. 15, as it depreciated to N1,610 to a United States dollar (USD) at the parallel market.
At the close of business on Thursday, the value of the naira had dipped to N1,515.28 to the dollar at the Nigeria Autonomous Foreign Exchange (NAFEX) window, but later appreciated to N1,498.25.
On Thursday, at the parallel market, the value of the naira dropped further as it was exchanged between N1,610 and N1,615 to the dollar, compared to its previous price of N1,550.
The naira has come under a severe attack in recent times, defying several interventions by the Central Bank of Nigeria (CBN), thereby worsening the cost of living crisis and inflation in the country.
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