Naira dips further at parallel market to close at N532/$1

Factual Pursuit of Truth for Progress

The naira on Wednesday dipped further against the dollar at the parallel market closing at N532/$1.

According to data obtained from, this is when compared with N530 to the dollar on Friday.

The naira also slumped against the Pound Sterling and the Euro yesterday closing at N723/£1 and N625/€1 respectively compared with N720/£1 and N620/€1 last Friday.

The local currency had dropped to a record low of N527/$1 at the parallel market last Monday, but appreciated to N526 per dollar on the following day.

It, however, resumed its decline last Wednesday, dropping to a new record low of N528 per dollar.


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