Naira slumps further at parallel market

March 21, 2021 by Don Saint 0 Comments

The naira slumped further as it exchanged to a dollar for 485 at the parallel market on Friday, after starting the week at 483/$.

At the Investor & Exporter forex window, the exchange rate hit a high of N412/$ before closing at N410.05.

The Central Bank of Nigeria recently disclosed that the naira depreciated at the official market to N410 against the dollar.

“In order to adjust for the decrease in supply of foreign exchange, the naira depreciated at the official window from 305/$ to 360/$ and now hovers around 410/$,” it stated.

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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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