Home Business Naira Plunges Further to N495/$ At Parallel Market

Naira Plunges Further to N495/$ At Parallel Market

0

By Bode Akinbode, Ibadan

The naira has further plunged from 487 on Friday, trading to 495 to the Dollar in the parallel market.

The local currency was traded for 487 on Wednesday after it has remained at 483 for some days ago but on Friday rises to 495 at parallel market per dollar.

Recalled the CBN has kept the official exchange rate at N379/$1 since August, when the naira was devalued for the second time this year from 360 per dollar. It was first devalued to 360 in March from 306.

Meanwhile, NairaWatch reported that the exchange rate on Thursday, November 26, closed at ₦487/US$1 in the parallel market.

Naira: ₦495

Dollar: $1

Date: November 27th, 2020

The exchange rate between Nigeria’s Naira and British pound sterling as at today, Friday, November 27, stands at ₦635/₤1 but closed at ₦629/₤1 on Thursday, November 26.

Naira: ₦635

Pounds Sterling: ₤1

Date: November 27th, 2020

The exchange rate between the local currency and European euro as at today, Friday, November 27, stands at ₦580/€1 but closed at ₦575/€1 on Thursday, November 26.

credit:NairaWatch naira

 

 

nigeria_news_access_bank_online

Like and Share this:

ADD YOUR COMMENT

Please enter your comment!
Please enter your name here