Black Market: Dollar hits N611 to naira at parallel market

The Nigerian currency (naira) now exchanges at N611 to the dollar at the parallel market, popularly known as the black market.

IDOMA VOICE reports that the naira’s official rate stands at 419.02 at the Investors and Exporters window, after several dips on Friday.

But the Nigerian currency has dropped massively at the parallel market to 611 for the first time in the country’s history.

According to IDOMA VOICE Forex and source at the black market, a dollar is sold at N611 on Sunday morning.