Parallel Market: Naira Exchanges For ₦474/$

The naira exchanged to the dollar in the parallel market at ₦474/$ on Thursday.

Ekohotblog gathered that naira to dollar was exchanged at 473/$1 on Monday.

The naira which recorded slight improvement in recent days closed at the Importer & Exporter forex window at ₦394.6/$.

Meanwhile, the Central Bank of Nigeria (CBN) retained the official exchange rate at ₦379/$ according to its website.

READ ALSO:CBN Releases Categorisation For Payment System

The Bureau De Change operators had attributed fluctuations the naira is currently experiencing to speculative activities of some operators.

However, as the nation’s economy technically goes into recession, the fate of the naira appeared to hang in a balance in the face of fiscal and monetary policy directives targeted at piloting the economy out of recession.

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