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| Nigeria in quagmire as Naira sinks further into the swamp of oblivion.Exchanges 377 to Dollar. Adeosun and Emefiele's jobs on the line. |
The naira yesterday exchanged at N377 to dollar in the parallel market, weaker than N373 on Wednesday after the Central Bank of Nigeria (CBN) failed to intervene in the market, Signal reports.
At the interbank rate, the currency traded at N309 to dollar at noon, but later recovered to close at 292.40 on thin trades. The interbank market traded a total of $7.27 million.
