Naira trades N495/ at black market

Naira trades N495/$1 at black market

The naira, on Thursday, appreciated at the importer & exporter (I&E) window by 0.1 percent to N411/$1 but depreciated by 0.4 percent to N495/$1 in the parallel market.

This week, the currency has lost N9 or 2.3 per cent at the black market, according to data on abokiFX.com, a website that collates parallel rates in Lagos.

On Monday, CBN adopted the Nigerian autonomous foreign exchange (NAFEX) rate dropping the official market rate of N379/$1.

In November, the naira had hit N500 per dollar on the black market  after CBN announced the devaluation of the naira and urged Bureau…

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