N39 loss YtD – Naira to Dollar exchange rate depreciates to N604/$1 at parallel market

Naira to Dollar depreciates to N604/$ at parallel market

CBN, Dollar vs Naira SupplyThe Nigerian Naira fell to N604/$ at the parallel from N565 at the start of the year. This is consistent with an N39 loss YtD, Nairametrics reports. This is based on information acquired from Nigerian BDCs, who attribute the increase in dollar demand to the election season as politicians stocking up…

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