Naira crashes to N540 at black market, disparity now N130

The exchange rate between the naira and the US dollar closed at N411.67/$1, at the official Investors and Exporters window.

Naira depreciated further against the US dollar on Thursday, to close at N411.67/$1 compared to N411.5/$1 recorded at the close of trade on Wednesday, 8th September 2021, representing a 0.04% fall.

The exchange rate at the parallel market slumped to a new record on Thursday to close at N540/$1 compared to N535/$1 recorded in the previous trading session.

This represents a 0.93% depreciation and further widens the gap between the black market rate and the official rate.

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