Dollar exchanges for N1600 on parallel market

The dollar-to-naira exchange rate on Thursday, July 18, reached N1,615 on Nigeria’s foreign exchange black market.

A quick check by LIB on the streets of Lagos showed that dollar was bought between N1560- N1590 and sold between N1600 and N1615.

According to FMDQ data, the Naira fell to N1,581.65 against the Dollar on Wednesday from N1,576.66 on Tuesday.

FX transaction turnover also decreased to $108.16 million compared to $138.17 million the day before.