Prior to the inauguration on May 29, the Naira drops to 760/$1
Barely ten days before the May 29th inauguration of the incoming government, Naira has fallen to N765/$1.
Danzali Abdulrahman, a Bureau De Change Operator in Zone 4 Abuja disclosed this on Friday.
He explained that the buying price of the Dollar against the Naira at the parallel market, popularly known as black market, is N765/$1, while selling price is N745/$1.
“There is high demand for the Dollar at the moment; we sell for N765/$1, while buying at N745/1$ as of Friday morning”,
Meanwhile, Blastgist.com reported that Naira depreciated against the Dollar on Monday, exchanging for N464/$1 at the investors’ and exporters’ window.
When Buhari took the oath of Office on May 29 2015, an average exchange was 197/$1 according to Exchangerates.org.uk.
It further revealed that the worst exchange rate stood at N179.8924/$1 on January 11 2015.
However, as Buhari prepares to exit the seat of power on May 29, Dollar to Naira now stands at N765/$1.