Naira Pegged at N680/$1 as Currency’s Depreciation Continues
The Naira further devalues as it hits N680 per $1 at the parallel section of the foreign exchange market.
According to the Bureaux De Change operators also known as ‘abokis’, the naira has depreciated by N15 or 2.3 percent trading at N680 per dollar in the parallel market.
As of last week, the naira was devalued to N665 per dollar as the buying price and N680 per dollar as the selling price at the street market.
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“Demand is high, and there is no dollar. If you tell a customer to sell a dollar to you for N650, he will tell you that he saw it online for N670 or N675. We also have to make our gain. We are buying and selling to make a profit,” a trader at the Ikeja market told The Cable.
However, On the official marke...
