Naira falls to 555/dollar in parallel market

The Naira fell to 555 per Dollar at the parallel market on Monday, Nov. 22. The Nigerian currency had recently fallen to 575 per dollar but it peaked last week at 530 per dollar.

 However, on Monday, it fell again, sliding to 550 Naira per dollar in the parallel market as demand for dollars increases.

 At the Central Bank of Nigeria’s Investor & Exporter Window, the naira fell by 0.16 per cent to close at 415.07/dollar after reaching a new high of N445.75. 

 However, the CBN maintained 411.63/dollar as the official rate on its website.