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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.

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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