RIPPLES
The naira continues to depreciate in the black market, as the cost of the dollar increased by 1.2% or N9.5 kobo on Tuesday to N753.4/$1.
On Monday, Naira Rates, a black market foreign exchange aggregator, had reported that the average cost of a dollar was N743.9/$1 in the Bureau De Change window.
Similarly, the naira fell to the pound sterling, trading at N951.3/£1, above the N937.2/£1 the Bureau De Change operators offered the pound the previous day.
Also, the euro was sold at an average of N819.6/€1, which is N11.4 kobo or 1.4% higher than the N808.2/€1 rate the European currency was offered the preceding day.
While the naira lost some value to the foreign currencies in the Bureau De Change window of the black market, it was static in the official market against the dollar…
