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Naira Sells On The Parallel Market For N481/$

According to reports on the official CBN website and reports from the Stock Exchange complex, the Naira on Monday exchanged for N481/$ at the parallel market.

At the Exporter & Importer forex window, the exchange rate hit a high of N412.
READ ALSO: CBN Depreciates Naira To N410/$1 From N360/$1 – Godwin Emefiele Confirms

The Central Bank of Nigeria recently disclosed that the Nigerian currency depreciated at the official market to N410 against the dollar.

PIC. 10. GOVERNOR OF CENTRAL BANK, MR GODWIN EMEFIELE, DISPLAYING THE
NEW N100 COMMEMORATIVE CENTENARY BANKNOTE AFTER THE UNVEILING IN
ABUJA ON WEDNESDAY (12/11/14).
5688
/12/11/14/ICE/AIN/NAN

“In order to adjust for the decrease in supply of foreign exchange, the naira depreciated at the official window from N305/$ to N360/$ and now hovers around N410/$,” it stated.

Naira 481/$Photo Credit: Getty

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