Saturday, November 27, 2021

Naira Loses Stem At The Parallel Market, Slides To #555/$

- Advertisement -
The naira lost steam at the parallel market on Monday, sliding to 555 per dollar. The local currency had crashed to 540/dollar on Friday, after trading at 535/dollar on Thursday.

After tumbling to 575/dollar recently, the local currency began a gradual uptick in recent weeks peaking at 530/dollar last week.

Operators in the parallel market, who spoke to our correspondent on Monday, said the local currency was bought and sold at 550/dollar and 555/dollar respectively.

Naira and DollarsAn operator in the black market attributed the fall to an increase in demand for the greenback.
READ ALSO: eNaira Removed From Google Play Store 48 Hours After Launch Due To Poor Ratings

At the Central Bank of Nigeria’s Investor & Exporter Window, the naira fell by 0.16 per cent to close at 415.07/dollars after reaching a new high of N445.75.
READ ALSO: I Spent 10 Thousand Dollars On Dental Health – BBNaija Pere

The CBN however maintained 411.63/dollar as the official rate on its website.

Watch our trending video of the day below;

Photo Credit: Getty

Also Read:  I Am The Best Rapper The Streets Have Ever Heard - Erigga
- Advertisement -

Related Articles

- Advertisement -

Leave a Reply

Stay Connected

- Advertisement -

Latest Articles