/ 16 August 2000

NIARA FALLS FURTHER

The Nigerian naira fell further in inter-bank open market trading, dropping to 114.30 naira to the dollar from 114 at the start of the week. The naira slipped to 168.50 from 168 naira against the pound sterling, and dropped to 163 from 162.50 to 1,000 CFA francs but held steady at 55 naira to the German mark. On the Inter-Bank Foreign Exchange Market, where the Central Bank of Nigeria intervenes to set rates, the naira fell to 103.50 from 103.20 to the dollar. – AFP