Naira Declines at Parallel Market to N2,000/1£

Posted by

According to The Nation, the value of the Nigerian naira has decreased on the black market in relation to the British pound and is currently worth more than 2,000 Naira.

On Monday, February 19, Malam Ibrahim, a Bureau de Change operator in Wuse Zone 4, verified this rate and attributed it to the strong and steady demand for these currencies.

The current exchange rate is higher than the N1,930 reported on Saturday, which was the lowest point in the naira’s history performance against the pound.

Punch reports that the naira experienced a decline in value versus the dollar on the parallel foreign exchange market, where it was unofficially trading at N1,673 as opposed to N1,670/$ on Friday.

READ ALSO:  Tinubu risked his life for Nigeria – Sanwo-Olu

Leave a Reply

Your email address will not be published. Required fields are marked *