• Wednesday, November 29, 2023
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Naira falls to 920/$ in parallel market

Naira on Tuesday fell to a new low of N920 against the dollar at the parallel segment of the foreign exchange (FX) market, following strong demand for the greenback. Dealers were buying from willing sellers at N915/$ while selling at N920/$ to willing buyers.

Read also: Naira loses 2.23% of value in August as external reserves decline

During the intraday trading on Tuesday, the dollar was quoted at N920/$1, which represents 0.54 percent (N5) depreciation compared to N915 per dollar traded during the morning session.

Details later..