Naira Now Exchanging At N1,040 To A Dollar In Parallel Market

The Naira is now exchanging at N1,040 to a Dollar in the parallel market.

The ongoing trend of demand surpassing supply seems to be a contributing factor and forex traders have been reporting inflow quotes ranging from N1,035 to N1,045 per dollar, indicating heightened scarcity.

The official trade rate remains at N776.8/$1, highlighting a notable disparity between the experiences of Nigerians in official and unofficial channels.