Naira In Free Fall At Parallel Market, Crashes To 430 Against Dollar

For the third time in a week the Naira has plummeted against the dollar in the parallel market after it sold for N430 per dollar on Thursday.

The Naira has consistently dipped  from N420 to N425 and N430 in four days, representing an average loss of N5.

The economy has faced a lot of pressure resulting from the virus and the Central Bank of Nigeria has for long halted its weekly interventions.

According to data from AbokiFX, the price fell towards the end of trade from N425 to N430.

At the Nigerian Autonomous Foreign Exchange Fixing (NAFEX), the Naira rallied by N1.38 to trade at N387.54, against N388.92 recorded  on Wednesday.