Naira Plunges to N1,520/$ in Parallel Market

Written by gcsjjustified

The Naira has depreciated significantly in the parallel market, trading at N1,520 per US dollar as of June 28, 2024. This represents a sharp decline from the previous rate of N1,510 per dollar. Experts attribute this drop in the Naira's value to various economic factors, including high inflation, limited foreign exchange supply, and ongoing macroeconomic challenges. The parallel market rate is now considered the fair value or equilibrium price for the Naira, indicating its diminished purchasing power.








About the author


It's your boy young G.C.S...... As a skilled content writer, I specialize in crafting engaging, informative, and SEO-optimized content for various industries and platforms. With a passion for storytelling and a knack for words, I create high-quality articles, blog posts, and copy that resonates with audiences and drives results. Let me help you tell your story and elevate your brand's voice.

Leave a Comment