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NairaWatch: Naira depreciates against US dollar, exchange rate – ₦461$1

BY David Oladele

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Naira and Dollar parallel market

Nigeria’s Naira has continued to depreciate against the United States’ dollar as the exchange rate as at today, Wednesday, October 14, stands at ₦461 US$1 in the parallel market.

NairaWatch reported that the exchange rate on Tuesday, October 13, closed at ₦460/US$1 in the parallel market.

  • Naira: ₦461
  • Dollar: $1
  • Date: October 14th, 2020

Nigeria’s Naira has also depreciated against British pound sterling as the exchange rate as at today, Wednesday, October 14, stands at ₦591/₤1 but closed at ₦590/₤1 on Tuesday, October 13.

  • Naira: ₦591
  • Pounds Sterling: ₤1
  • Date: October 14th, 2020

Meanwhile, the local currency has remained stable against European euro as the exchange rate as at today, Wednesday, October 14, stands at ₦538/€1 and also closed at ₦538/€1 on Tuesday, October 13.

  • Naira: ₦538
  • Euro: €1
  • Date: October 14th, 2020

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