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Monday, September 16, 2024
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Just In : Exchange rate crosses N1,600/$1 at parallel market, hits N1,63/$1 on online platforms

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Just In : Exchange rate crosses N1,600/$1 at parallel market, hits N1,63/$1 on online platforms

Parallel market operators are quoting a buy price above N1,600/$1 for holders of naira looking to buy dollars, as the local currency faces rising pressure.

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Checks by Nairametrics indicate that the exchange rate has been weakening lately in line with the steady crash on the official market.

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Platforms such as Trove, Remitly, Bamboo, and PiggyVest are selling the dollar above N1,630 as of Thursday, July 18, 2024.

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