NairaWatch: Confusion as Naira depreciates further against US dollar, exchange rate – ₦483$1

Nigeria’s Naira has depreciated further against the United States’ dollar as the exchange rate as at today, Tuesday, December 8, stands at ₦483 US$1 in the parallel market while the official rate of the Central Bank of Nigeria (CBN) stands at N379/$.

NairaWatch can report that the exchange rate on Monday, December 7, closed at ₦480/US$1 in the parallel market and the official rate of the CBN also stood at N379/$1.

• Naira: ₦483/379
• Dollar: $1
• Date: December 8th, 2020

The exchange rate between Nigeria’s Naira and British pound sterling at the parallel market as at today, Tuesday, December 8, stands at ₦615/₤1 and while the official rate of Central Bank of Nigeria (CBN) stands at N503/₤1.

The exchange rate on Monday, December 7, also closed at ₦625/₤1 in the parallel market and the official rate of the CBN as well stood at N510/₤1.

• Naira: ₦615/503
• Pounds Sterling: ₤1
• Date: December 8th, 2020

The exchange rate between the local currency and European euro at the black market as at today, Tuesday, December 8, stands at ₦570/€1 while the exchange rate of the CBN stands at N459/€1.

The exchange rate on Monday, December 7, also closed at ₦570/₤1 in the parallel market and the official rate of the CBN stood at N461€1.

• Naira: ₦570/459
• Euro: €1
• Date: December 8th, 2020