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Newsunplug > Blog > News > Naira now exchanging at N1,040 to a Dollar in parallel market
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Naira now exchanging at N1,040 to a Dollar in parallel market

Godson
Last updated: October 12, 2023 7:57 am
Godson Published October 12, 2023
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The Naira is now exchanging at N1,040 to a Dollar in parallel market.

Nairametrics reported that the ongoing trend of demand surpassing supply seems to be a contributing factor and forex traders have been reporting inflow quotes ranging from N1,035 to N1,045 per dollar, indicating heightened scarcity.

The official trade rate remains at N776.8/$1, highlighting a notable disparity between the experiences of Nigerians in official and unofficial channels.

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