Brands and Marketing
BREAKING: Dollar Hits Over N600 To Naira
![](https://onyxnewsng.com/wp-content/uploads/2022/05/dollar-to-nair.jpg)
BREAKING: Dollar Hits Over N600 To Naira
Onyxnewsng gathered that the Nigerian currency now exchanges at N610 to the dollar at the parallel market, known as the Black market for the first time in history.
Although the naira’s official rate eventually stabilised at 419.02 at the Investors and Exporters window, after several dips on Friday, the value of the currency has sunk to greater depths at the parallel market.
According to Aboki Forex, a website that furnishes the Nigerian audience with the exchange rate of foreign currencies at the parallel market, the dollar sold at N610 on Sunday morning.
Aboki Forex gained prominence shortly after a similar website, Aboki FX got axed by Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), for allegedly manipulating the exchange rate at the parallel market.
Aboki FX’s shutdown in September 2021 has so far done nothing to stop the naira’s free fall and steep crashing at the parallel market.
JUST IN: CBN Governor, Godwin Emefiele Drags INEC, AGF, To Court, See Why
Critics claim Mr Emefiele’s 2023 presidential ambition has distracted him from functioning efficiently as Nigeria’s top banker and have repeatedly demanded his resignation.
The naira has continued to depreciate considerably against the dollar over the past two weeks. From N588 per dollar on May 8, it opened at N610 on Sunday morning, according to Aboki Forex.
-
Headline1 week ago
BREAKING: UAE Lifts Visa Ban On Nigerians, Resumes Issuance
-
Headline1 week ago
BREAKING: Gareth Southgate Quits As England Head Coach
-
Headline1 week ago
PHOTOS: Moment Kylian Mbappe Unveiled As Real Madrid Player
-
Crime1 week ago
BREAKING: Police Announce Arrest Of Crypto Billionaire Blord Over Allege Fraud, Terrorism
-
Headline1 week ago
JUST IN: FIFA Launches Investigation On Argentinian Players’ Racist Chants
-
Entertainment1 week ago
BREAKING: BBNaija Reduces Grand Prize For 2024 Edition
-
Entertainment6 days ago
Protest Not The Answer, Be Patient With Tinubu – Actor Yul Edochie Urges Nigerians
-
Headline6 days ago
JUST IN: Donald Trump Vows to End Wars, Restore US Power
-
Headline1 week ago
BREAKING: US Judge Dismisses Trump’s Suit Over Classified Documents
-
Headline1 week ago
JUST IN: President Tinubu Appoints Walson-Jack As New Head Of Civil Service