The Naira has plummeted to N765/$1 just ten days before the incoming government’s inauguration on May 29th.
On Friday, Danzali Abdulrahman, a Bureau De Change Operator in Abuja’s Zone 4, revealed this.
He stated that the purchase price of the US dollar against the Naira on the parallel market, often known as the black market, is N765/$1, while the selling price is N745/$1.
“The Dollar is in high demand right now; we sell for N765/$1 and buy for N745/1$ as of Friday morning.”
He stated.
Meanwhile, DSMEDIA24 reported that the Naira fell against the dollar on Monday, trading at N464/$1 in the investors’ and exporters’ window.
According to Exchangerates.org.uk, when Buhari took the oath of office on May 29, 2015, the average exchange rate was 197/$1.
It goes on to sayOn January 11th, 2015, the worst exchange rate was N179.8924/$1.
However, as Buhari prepares to leave office on May 29, the dollar to naira exchange rate has risen to N765/$1.
