Naira, Nigeria’s unit of exchange, has crashed to N545/$1, lowest level in its 48-year history The exchange rate between the naira and the US dollar closed at N411.67/$1, at the official Investors and Exporters window, last week Meanwhile, the exchange rate at the parallel market where the majority of Nigerians patronize slumped to a new record on Friday to close at N545/$1. The naira has suffered devaluation at the parallel market and many stakeholders have expressed their concern as foreign currencies scarcity persists. Some traders have attributed the…
Read MoreThe Fall And Fall of Naira: Nigeria’s Exchange Unit Crumbles to 48-Year Low
