Naira exchanges for 480 per dollar in the parallel market

The naira exchanged to the dollar at the rate of 480/$ at the parallel market on Friday according to Bureau de Change operators.

At the Importer & Exporter forex window, it reached a high of 435/$ before closing at 410/$. The Central Bank of Nigeria recently disclosed that the naira depreciated at the official market to 410 against the dollar. Recently, the Association of Bureaux De Change Operators of Nigeria called on the CBN to introduce measures that would counter the advantages of cryptocurrencies exchanges as a channel for diaspora remittances.

Read more details at Punch

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