Naira hits record low at the Investors and Exporters Window
Nigeria’s local currency, the naira fell to a record low of 393 naira 25 kobo to the US dollar at the Investors and Exporters Window on Wednesday. Depreciating by a significant 7 Naira 75 kobo or 2.0 per cent against the greenback. The fall comes amid arguments by experts that the naira is fundamentally overvalued. Kayode Akindele, Partner at TIA Capital joins CNBC Africa’s Kenneth Igbomor for more.Thu Nov 26 2020 | 08:41:53 GMT+0000 (Coordinated Universal Time)
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.