Hot Stories

Tonto Dikeh Gifts Uche Maduagwu Plot of Land And N2.5 Million For Being a Good Friend (Video)

EFCC Declares Yahaya Bello Wanted

Mixed Reactions As Owerri Citizen Opens Junior Pope Shawarma Stand (Video)

Portable Laments Going Broke Over The No-spray Policy (Video)

Paternity Fraud Should Be Criminalised Like R3pe - Actor Salami

Lady Left In Shock After Her Father’s Side Chick Shares Video Of Them

Who Be Your Papa? – Nollywood Actor, Emeka Ike Blasts Alleged Son Who Left School For Music

What I Ordered Vs What I Got: Nigerian Lady Shares Video Of Wig She Purchased For N135k

Chioma Spotted At Davido's Concert In US (Video)

I Want A Lot Of People To Stay Away From Me - Mercy Johnson

Why I Was Involved In Altercation With Ortom At PDP Meeting – Dino Melaye

You Have Failed Me - Portable Calls Out Queen Dami Over Her Refusal To Bear Him A Child

Man Seen Cleaning Late Wife's Grave 17 years After Demise (Video)

I’m Only GOAT in Nigeria – Davido

Boat Cruise: Ruger Under Fire Over Tweet Targetting Women

DJ Commissioner Wysei, Not DJ Switch, Was Arrested – Lagos Police Clarifies

Guinness World Record: 16 Hours In, Nigerian Onakoya Remains Unbeaten In Chess Marathon

Davido Offers Lady $50K To Clear Off Her Student Loan (Video)

Get Court Order If You Want DNA Test – Iyabo Ojo Tells Mohbad’s Dad

Hunger Wants To Finish Me. I Didn’t Make A Penny At My Last Show Because People Were Scared Of Spraying Money — Rapper Speed Darlington Cries Out

Naira Crashes To Record Low Against Dollar...See Latest Exchange Rate

Posted by Thandiubani on Thu 19th Nov, 2020 - tori.ng

Naira has continued a downward route at the exchange rate market against the dollar.

Naira and dollar

The value of the naira has continued to depreciate against the dollar at the exchange rate market.

According to Nairametrics, the naira hit a record low as it depreciated against the dollar, closing at N478/$1 at the parallel market on Wednesday, November 18, 2020, as dollar shortages persist despite increased demand by manufacturers and traders.

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

According to information from Abokifx – a prominent FX tracking website, at the black market where forex is traded unofficially, the Naira depreciated against the dollar to close at N478/$1 on Wednesday.

This represents a N3 drop when compared to the N475/$1 that it exchanged for on Tuesday, November 17.

This comes as the naira exchange rate at the NAFEX window also depreciated against the dollar to close at N386/$1 during intra-day trading on Wednesday, November 18.