Nigerian Naira is currently trading at over 2,000 Naira against the British pound in the parallel market, New Telegraph reports.
Malam Ibrahim, a Bureau De Change (BDC) operator in Wuse Zone 4, confirmed the price of the local currency to our correspondent On Monday, February 19
According to the news report, the new rate is higher than the N1,930 reported on Saturday and is currently the lowest point in the naira’s historical performance.
In the parallel FX market, where the naira is unofficially trading at N1,673 from N1,670/$ on Friday, the naira also lost value in relation to the dollar.
Confirming the development, Ibrahim said, “Yes it is true, we are currently selling above N2,000 for the pounds and it is still about the heavy and consistent demand for these currencies.”
