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Naira Continues Crash Against Dollar…See Latest Exchange Rate

Naira and dollar

Naira and dollar

 

The Naira continued to depreciate against the dollar to close at 475/$1 at the parallel market on Monday, November 16.

 

This represents a N5 drop when compared to the N470/$1 that it exchanged for on Friday, November 13.

 

Recall that the naira had depreciated against the dollar, closing at N470/$1 at the parallel market on Friday, November 13, 2020.

 

This is despite the allocation of about $1 billion to Bureau De Change (BDC) Operators since September by the CBN.

 

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