Naira falls to dollar at black, P2P forex market

Nigerian currency came under pressure on Thursday as Nigerians began a rush to return their old Naira notes.

Black market traders who spoke to Ripples Nigeria revealed that Naira exchanged at N755 against the US dollar.

Thursday rate represents 1.34 percent devaluation when compared to N745 it traded during the midweek session.

At the peer-to-peer market where cryptocurrency traders exchange dollars to Naira, the exchange rate stood at N753/1$.

At the official market, FMDQ securities failed to update Naira performance at the investors and exporters window.

READ ALSO:Naira depreciates against US dollar as banks begin circulation of new notes

The last exchange rate FMDQ securities reports for Wednesday, 14 December 2022 was at N450.58/$1.

While the CBN website is reporting that Naira sold at the interbank exchange rate for N446.32 to a dollar.

Against the British pounds, Naira closed on Thursday at N549.4 /£1 a devaluation from N548.17/£1 reported on Wednesday.

Similary against the Euro, Naira recorded a poor performance dropping to N473.90 /€1 compared to N469.91/€1, it sold a day earlier.

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