Naira crosses three-month mark in parallel market fall

Naira on Friday fell at the parallel market below the 480th mark to the dollar, the first time in nearly three months, a day after the government said it would take time to unify multiple exchange rates.

At the unofficial market, data from abokiFX.com showed the domestic currency exchanged for the green back at N482, a 0.42 depreciation from N480 it traded on Thursday.

The margin is significant as naira had been at or below 480 for months.

The last day naira fell below 480 was on December 9, 2020 when it traded at the black market for 483.

The CBN’s official rate on Friday was still N379 per dollar.

 

 

– Premium Times

About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

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