Naira slumps further at parallel market

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.

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.

No comments yet... Be the first to leave a reply!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: