Naira depreciates to ₦707 to the dollar at parallel market

  • 📰 NigeriaNewsdesk
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

The Nigerian naira, on Wednesday, weakened to N707 per dollar at the parallel section of the foreign exchange (FX) market amid increased demand.

The Nigerian naira, on Wednesday, weakened to ₦707 per dollar at the parallel section of the foreign exchange market amid increased demand.

Currency traders known as Bureaux De Change operators , who spoke to TheCable in Lagos, quoted the buying rate of the greenback at N700 and the selling price at ₦707 per dollar.The Central Bank of Nigeria has consistently maintained that the parallel market represents less than one percent of foreign exchange transactions and should never be used to determine Nigeria’s naira/dollar exchange.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 10. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Naira depreciates, trades N707/$ at parallel market | TheCableThe Nigerian naira, on Wednesday, weakened to N707 per dollar at the parallel section of the foreign exchange (FX) market amid increased demand. dino_melaye . How can we resolve this? Let's discuss
Source: thecableng - 🏆 2. / 80 Read more »