- The value of Nigerian currency has depreciated again in the official and unofficial foreign exchange markets
- Data shows that the naira is now at its lowest level in months, selling at above N1,500 a dollar in all markets
- The CBN has promised to find a solution to the naira’s value in the coming weeks ahead, despite stopping the sale of dollars to BDCs
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 naira has crashed again to the US dollar, surpassing the N1,500 exchange rate mark in the official and parallel markets.
FMDQ data shows that the Nigerian Autonomous Foreign Exchange Market (NAFEM) naira closed at N1,500.79/$1 on Tuesday, June 25.
Tuesday’s rate indicates that Nigerian currencyvalue depreciated by 0.71% or N10.59 against the US Dollar in the …