Devaluation 

Naira now 204 to dollar, 314 to pound

At the black market, the Naira-Dollar exchange rate is said to be as high as N209.

 

   

   

The plunge of the Naira seems unending as the Nigerian currency as at today, February 15, is selling at N204 to the Dollar.

At the black market, the Naira-Dollar exchange rate is said to be as high as N209.

The Pound Sterling on the other hand is selling for 314 to the Naira at the Bureau De Change segment and N310 at the black market.

The fall of the Naira continues despite attempts made by the Central Bank of Nigeria (CBN) to stem the trend.

According to Bloomberg, the Naira has tumbled 17 percent over the past three months and may further decline to an exchange rate of N263 to the dollar.