Naira depreciates to its all time low
The Naira has continued to depreciate despite the increase in the nation's foreign reserve, reports newsmen.
The Nigerian currency lost three points to exchange at N510 to a dollar on Wednesday after closing at 507 on Tuesday. While the pound sterling and euro exchanged at 625 and 535 respectively.
At the inter bank window, the Naira traded at 305.50 to the dollar.
Tradersat the market attributed the current onslaught on the Naira to speculators and currency hoarders.
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