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BREAKING: Naira hits all-time low, trades N1,000/$ at parallel market

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The naira has depreciated against the dollar at the parallel market.

Nigeria’s local currency, the naira, has set a new record, falling to its lowest against the dollar at the parallel market.

Currency traders in Lagos, also known as Bureaux De Change operators , quoted the naira at N1,000 to the greenback at the street market. The traders, on Tuesday, put the buying price of the dollar at N990 and the selling price at N1,000 — leaving a profit margin of N10 .Advertisement

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