Business
Naira falls further, trades N600/$ at parallel market
The naira, on Tuesday, weakened against the dollar to trade at N600 at the parallel market.
Bureaux De Change operators (BDCs), popularly known as ‘abokis’ who spoke told newsmen, said the currency fell sharply on Monday.
The figure represents a 0.8 per cent drop compared to N595 a dollar it traded last week.
At the Importers and Exporters (I&E) window, the currency exchanged N415.75, widening the margin to N184.25.
Abubakar, a BDC operator in Ikorodu, told TheCable that buying and selling prices stood at N595 and N600 per dollar.
The naira has continued to weaken in the parallel market due to increasing demand, falling external reserves, and low foreign exchange inflows into the coffers of Africa’s biggest economy.
Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.
She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others
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