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Naira Crashes To N700/$1 At Black Market

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According to new reports, the Nigerian currency, the naira has crashed further in the parallel market.

The naira is now trading for N700 against the U.S. dollar.

The national currency which traded for N670 against the dollar on Monday, July 25, crashed even further by 6.7 percent today July 27.

The exchange rate between the naira and the US dollar has fallen beyond the N700/$1 threshold at the parallel market on Wednesday, 27th of July 2022, despite starting the day at N675/$1. This is according to information from Bureau De Change operators in Lagos State.

See a list showing the exchange rate of the Naira to other foreign currencies below:

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Photo Credit: Getty

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