Naira exchanges 770 to 1$ at parallel market

According to operators, the Nigerian naira exchanged to the dollar for 770 at the parallel market on Wednesday, thereby dropping downwards.

Some Bureau de Change (BDC) operators who spoke to our The Punch noted that the naira which had gained relatively to the dollar in recent days had remained unstable.

A BDC operator who identified himself as Alhaji Ibrahim, said, “Dollar was bought and sold today at N760 and N770. It had remained unstable.”

However, at the Investor and Exporter forex window, the naira hit a high of 447 to close at 432.

The Central Bank of Nigeria however maintained the exchange rate on its website at N442.