BREAKING: Naira Falls Massively At Black Market Despite CBN Interventions

Naira has fallen massively at the black market despite CBN interventions.

 

NewsOnline Nigeria reports that 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. 

 

Checks by NewsOnline Nigeria 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. 

 

This is a developing story…