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Naira Crashes As It Closes On N500/$1...See Latest Exchange Rate

Posted by Thandiubani on Fri 27th Nov, 2020 -

The Nigerian naira has continued to depreciate against the dollar at the black market.

Naira and dollar
Naira and dollar
The naira on Thursday, 26th November 2020 crashed further against the dollar to exchange at N495/$1 at the parallel market.
This is as a result of CBN's forex policies restricting access to dollars on the official window thereby putting more demand pressure on the black market.
The latest loss represents an N8 drop when compared to the N487/$1 that it exchanged for on Wednesday, November 25.
However, the Naira remained stable against the dollar at the Investors and Exporters (I&E) window on Wednesday, closing at N393.25/$1.


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