Naira Crashes To N470/$1 As Currency Uncertainty Worsens   The exchange rate at the parallel market fell to another new 3-year low closing at N470/$1 on Wednesday, July 15, 2020. However, on the officially recognized NAFEX market, the forex turnover rose by 44.9% while the exchange rate depreciated closing at N386.50/$1. Parallel Market: At the black market where forex is traded...

Naira Slumps To N470/$1 On Parallel Market Naira dropped further on the parallel market yesterday, hitting N470 against the dollar as scarcity of foreign exchange, occasioned by the outbreak of novel coronavirus continues to negatively impact the local currency. Naira has been on a steady decline...