Naira At Its Worst Rate @ N506/$ At Parallel Market

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The naira, on Friday, February 10, dipped to a record low at the parallel or black segment of the Nigerian foreign exchange market, trading for N506 to the U.S dollar.

The market has remained volatile since the beginning of 2017, exchanging in the range of N490 to N500 as the demand for dollar continues to surge.

On Thursday, closed weak at N500 to one U.S Dollar at the parallel or black market.

The local currency at the parallel marke t exchanged for N613 to the British Pound Sterling and traded at 530 against the Euro.

Meanwhile, at the official interbank or spot FX marke t, the naira traded static at N305 against the greenback.

The naira also exchanged at N381 against the Pound Sterling and traded for N325 against the single European currency, Euro.

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