Naira drops after remaining stable for sometime

The naira sold for as low as 460 to the dollar within the day’s trading.The naira fell against the dollar in the Investors and Exporters window on Thursday, exchanging for N469.50 per dollar.When compared to the $464.67 it swapped for the dollar on Wednesday, the local currency fell 1.04 percent. On Thursday, the open indicative rate was 468.94 to the dollar. The highest rate reported throughout the day's trade was 476.50 to the dollar before it settled at 469.50.During the day's trade, the naira fell as low as 460 to the dollar. On Thursday, $74.18 million in dollars were traded in the official Investors and Exporters window.