Naira falls to N775/$ at parallel market as dollar demand rises | TheCable

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The naira, on Friday, tumbled to N775 per dollar at the parallel section of the foreign exchange market.

two weeks ago.

When asked about the reason for the decline of the naira against the dollar, a currency trader in the market said, “Demand has gone up. People have been coming to buy dollars.”Meanwhile, at the investors and exporters forex window, the local currency fell by 0.07 percent to close at N463.67 on Thursday, according to details on FMDQ OTC Securities Exchange, a platform where FX is officially traded.

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