The Naira has dropped to N765/$1 just ten days before the new government is inaugurated on May 29.
This was revealed on Friday by Danzali Abdulrahman, a Bureau De Change operator in Zone 4 of Abuja.
According to him, the buying rate for the Dollar on the black market, also known as the parallel market, is N765 to $1, while the selling rate is N745 to $1.
As of Friday morning, we sell for N765 to $1 and buy for N745 to $1 due to the strong demand for the dollar at the moment.
According to SAGEFE, the Naira lost value against the dollar on Monday, trading for N464 to $1 at the investors’ and exporters’ window.
According to Exchangerates.org.uk, the average exchange rate at the time Buhari took the oath of office on May 29, 2015, was 197 to 1.
It also disclosed that on January 11, 2015, the worst exchange rate was N179.8924/$1.
Although the dollar to naira exchange rate is currently N765 to 1 as Buhari gets ready to leave office on May 29.