Dollar Crashes in Black Market As CBN Releases New Exchange Rates for Pound, Euro [Video]

• The value of Nigerian currency has improved against the US dollar in the unofficial foreign exchange market
• The naira also improved in value in the Nigerian Autonomous Foreign Exchange Market, which is the official market
• The CBN has also provided naira performance against other foreign currencies, which include the euro and pound

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian naira appreciated N1,660 per dollar in the parallel market on Tuesday, October 15, 2024.

Traders who spoke to Legit.ng on Tuesday confirmed the new exchange rate and said it is a massive improvement.

Abudulahhi, a currency trader, said:

“Yes, the dollar has crashed. I sell at N1,670 and N1,680 depending on the buyer. If he is my customer, I can sell for N1,660.”

Another trader on …