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Naira drops in value against the US Dollar as parallel market remains stable

The US dollar has continued to gain against the Nigerian naira at the exchange rate market.

The naira recorded a slump against the US dollar on Friday, 16th April 2021.

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The naira and the US dollar closed at N411/$1 at the Investors and Exporters window, where forex is traded officially.

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This represents a 0.12% fall compared to N410.5/$1 recorded on Thursday, 15th April 2021.

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The Naira, however, remained stable at the parallel market to close at N482/$1 on Friday, 16th April 2021.

The naira maintained its rate at N482 to a dollar in the parallel market for the week.

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