Naira Tumbles to N424/$ At Parallel Market

The Naira dropped on Friday, September 16, at the parallel market, trading at N424 to the U.S dollar compared with N423 it exchanged for on Thursday.
Also, the local currency exchanged at N550 to one Pound Sterling against N555 it exchanged for on Thursday, while the Euro was exchanged for N470 from N465 it was sold for previously.
Meanwhile, rates at the Central Bank of Nigeria, CBN, showed that N305.5 was exchanged for one US dollar from N305 it was exchanged for previously.
A Pound Sterling was exchanged for N402.6 against Thursday’s exchange rate of N402.8 and one Euro traded at N343.1 compared to N343.2 it sold for yesterday.