Home General and News updates Naira hits N502/$1 at parallel market

Naira hits N502/$1 at parallel market

The Naira on Friday fell at the parallel market to N502 to the United States dollar as speculations continue to hamper Forex market operations.

At the importer and exporter window, it traded moderately to close at N411.12 per dollar.

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The local currency, which closed at N499 to a dollar on Thursday, lost N3 at midday trading Friday, according to data on abokiFX.com, a website that collates parallel rates in Lagos.

It also depreciated against Pound and Euro, trading N710 and N608, respectively.

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Recently, the Central Bank of Nigeria had made efforts to ease Naira against other foreign currencies  and unify the country’s forex rates.

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