The US dollar closed at ₦461/US$1 in the parallel market
The parallel market exchange rate crashed to a new low.
Rates in the parallel market will remain under pressure and we might see it above the N460 /$ levels it is currently trading at.
FG intends financing the N5.36 trillion budget deficit through domestic, foreign loans and proceeds from privatisations.
Local media reports citing a recent report by NNPC say the federal government paid N752bn as a petrol subsidy in 2019.
As Nairametrics previously reported, the apex bank informed Nigerians that it will resume the provision of Forex to all commercial banks in Nigeria for onward sales...
Naira continues on its downward slide against major currencies of the world as it dipped further against the US dollar to stand at an average of...
Naira has depreciated to its weakest level since February 2017 at the parallel market, which is also known as the black market.
This could be a sign of what is to happen to the economy this year.
CBN has adjusted the value of the Naira by as much as 15% as it seeks a single exchange rate instead multiple exchange rate.