Naira Trades at Around ₦1,600 to the Dollar on Tuesday in Unregulated Foreign Exchange Market
On Tuesday, the Nigerian naira exchanged hands at approximately ₦1,600 per US dollar in the unofficial, or “black”, foreign exchange market, according to reports from Nairametrics. Traders on this parallel market—outside the Central Bank’s official windows—were quoting rates hovering around this key threshold. Domestic demand for the dollar remains strong, exerting downward pressure on the
