Dollar Against Naira
The Naira has fallen to an all-time low as it now exchanges for N1,100 per dollar in the black market.
This is according to information obtained on Wednesday morning, from traders in the parallel market .
The traders confirmed quotes between N1,100-N1,110 for inflow. Inflows are forex transactions sold or bought over the wires.
The exchange rate at the official Nigerian Forex Market fell to the lowest ever point of N848/$1 on Tuesday marking a turning point in Nigeria’s exchange rate crisis.
This represents a 9.64% decrease, or a loss of N74.58, in just one day of trading when compared to the exchange rate of N773.54 on Monday.
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