Naira Hits All-time Low, Exchanges for 1,100 to a Greenback

Dollar Against Naira
Greenback In opposition to Naira


FIRS

The Naira has fallen to an all-time low because it now exchanges for N1,100 per greenback within the black market.

That is in line with info obtained on Wednesday morning, from merchants within the parallel market .

The merchants confirmed quotes between N1,100-N1,110 for influx. Inflows are foreign exchange transactions bought or purchased over the wires.

The change charge on the official Nigerian Foreign exchange Market fell to the bottom ever level of N848/$1 on Tuesday marking a turning level in Nigeria’s change charge disaster.

This represents a 9.64% lower, or a lack of N74.58, in simply sooner or later of buying and selling when in comparison with the change charge of N773.54 on Monday.

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