Black Market: Naira Falls to ₦915 Per Dollar

The Nigerian naira fell further on Wednesday to a record low of ₦915 per dollar at the parallel (black) market. This marks a growing gap between the official and black market.

The currency of Africa’s biggest economy has come under pressure since the Central Bank floated the currency in June.

Naira Exchanges for N871/$ at Parallel Market

Data from FMDQ shows that the naira opened at ₦757 per dollar on Wednesday at the official market but traded much weaker at ₦915 per dollar at the black market according to data from aboki FX.

This brings the gap between both rates to the highest since June.