Naira falls to N1,300/$

Taiwo Ajayi
1 Min Read

The naira is currently trading above N1,300/$ on the Peer-to-Peer cryptocurrency window on Tuesday.

This is as many traders on the parallel market confirmed that the national currency is trading close to N1,300 in that segment of the market. On the Binance platform, the naira is currently quoted above N1,300/$.

Some Bureau de Change Operators told Our source that the quoted value is reflective of market realities. An Abuja Bureau de Change seller at Zone 4, Magaji Muhammed, said the price had increased to N1,300/$.

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He said, “Currently, we are selling for N1,300/$. We are witnessing more demand and that’s why.”

Another BDC seller, Abubakar Taura, however, noted that he could only sell for N1,280 per dollar.

“I can sell for you at N1,280/$ and that is the highest I can go,” Taura said.

While the official market is yet to close, details from the FMDQ OTC Securities Exchange revealed that the national currency closed trading at N838.95/$ on Monday.

Source: Punch Newspaper

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