Naira falls to N1,600 per $1

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The naira dipped to N1,600 against the dollar on Friday as Nigeria’s economy continues to hurt.

According to Aboki Forex, the naira plunged to N1,600 to $1 despite efforts by the Central Bank of Nigeria to salvage the free fall of the naira.

Though the naira had been on a downward trend against the dollar before President Tinubu assumed office last May, the naira’s freefall accelerated following the floating of the currency.