Tag: official and parallel market exchange rates

  • Naira Continues Its Downward Decline at I&E and Parallel Market

    Naira Continues Its Downward Decline at I&E and Parallel Market

    New reports just emerging show that the naira has continued its downward decline at both the official and the parallel market. The legal tender suffered a steep depreciation in 2022 with the national currency losing between at least 11 per cent and 23 per cent. An analysis of the exchange rates’ movements showed that the…