Naira falls to N680/$ at parallel market despite FG efforts

10 August 2022 5:03 pm WAT

By The Sun

The naira, on Wednesday lost strength against the dollar at the parallel section of the foreign exchange market as it exchanged for N680 to one dollar.

Bureaux De Change operators (BDCs), Lagos, said the local currency depreciated by N15 or 2.3 percent trading for N680 per dollar at the “black market’.

Last week, the naira closed at N665 to a dollar at the street market.

The street traders put the buying price of the dollar at N665 and the selling price at N680, leaving a profit margin of N15.

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