Yuletide Season: Naira Weakens Against Dollar At Parallel Market

December 31, 2021 by Don Saint 0 Comments

Nigerian naira weakened against the dollar at the parallel market to trade at N570 amid demand for the currency during the yuletide season.

This is a drop of N5 or 0.9 percent from the N565 it traded last week.

Street traders across forex markets in Lagos quoted the rate at N570 to a dollar on Thursday.

A parallel market (street market) is characterised by noncompliant behaviour with an institutional set of rules.

News

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.

View all posts by Don Saint →

Buhari, Jonathan Meet Again In Aso Rock

Health Zone: Without Drugs, Here Are The Alternatives To Manage High Blood Pressure