Naira falls to N2,000/£ at parallel market

The Naira is currently trading at over N2,000 against the British Pound at the parallel market.

Similarly, Naira depreciated against the dollar in the parallel forex market, where forex is unofficially trading at N1,673/$.

Malam Ibrahim, a Bureau de Change operator at Wuse Zone 4, Abuja, Federal Capital Territory, confirmed the rates on Monday.

“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,” Ibrahim disclosed.

These developments persist despite the implementation of several policies aimed at bolstering the supply of foreign exchange by the Central Bank of Nigeria.