Currency: The Nigerian naira hits a record high on the black market : Orishas-finance

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Currency: The Nigerian naira hits a record high on the black market

24/07/2023

Source : ORISHAS FINANCE

Categories: Economy/Forex

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Currency: The Nigerian naira hits a record high on the black market

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Traders estimate that the Nigerian traded at a record level of 860 per dollar on the black market on Thursday, July 20, 2023. It is weakening below its official rate

The bank allowed the naira to weaken by more than a third last month. This was in order to unify Nigeria's multiple exchange rates and attract foreign investment. A way to strengthen the liquidity of an economy facing dollar shortages. According to the data, the currency closed at 742 naira against the dollar on the official market on Thursday

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