Naira Exchanges For N481/$ At Parallel Market

On Monday, Naira exchanged for N481/$ at the parallel market.

At the Exporter & Importer forex window, the exchange rate hit a high of N412.

The Central Bank of Nigeria recently revealed that the naira depreciated at the official market to N410 against the dollar.

It stated that; “In order to adjust for the decrease in supply of foreign exchange, the naira depreciated at the official window from N305/$ to N360/$ and now hovers around N410/$.”

Details later…