Naira Nosedives to N1,700/$ at parallel market, lowest level in 7

Naira Nosedives to N1,700/$ at parallel market, lowest level in 7 …C0NTINUE READING HERE >>>

The naira nosedived to N1,700 per dollar at the parallel section of the foreign exchange (FX) market on Friday.

At the end of trading hours, the naira depreciated by 1.49 percent compared to the N1,675/$ traded on Thursday.

The N1,700 per dollar is the lowest the naira has depreciated since February 19, when the naira recorded a low of N1,730/$.

Currency traders, also known as street traders, in Lagos, quoted the buying rate of the local currency at N1,680/$ and the selling rate at…

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