Business
Exchange rate hits all time low of N1,152 at P2P, N999/$1 at NAFEM
The exchange rate between the naira and dollar hit an all-time low of N999/$1 during trading on October 19th, 2023.
This is according to intr-trading data from the FMDQ where forex is sold officially via the NAFEM.
Sources indicate this is the current intra-day high and could close lower when the market closes later in the afternoon.
Meanwhile, early afternoon trading on the black market P2P where forex is traded unofficially via cryptocurrency indicates the exchange rate is being quoted for N1,152/$1, suggesting the exchange rate is continuing with its steady decline.
As of Tuesday, the naira had plummeted to N1,100 to the dollar on the parallel market, while it fell to N790 per dollar on the official market.
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
