The naira closed the year 2014 on Wednesday at 181.50 to the United States dollar at the interbank market and between 191 and 193 on the streets, against the 160.60 recorded on December 31, 2013.
The local currency had over a week ago traded for N194 to the dollar at the parallel markets in various parts of the country.
Dealers, however, said the amount of the greenback in circulation was still scarce.
The 181.50 recorded at the interbank market is about six naira higher than the N160-N176 target band the Central Bank of Nigeria set for the currency on November 25, 2014, when it devalued the currency by eight per cent.
It would be recalled that the Governor, CBN, Mr. Godwin Emefiele, had said the central bank was forced to devalue the naira because it could no longer continue to deplete the external reserves in order to defend the local currency.
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