Naira exchanges for N481/$ at parallel market

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The naira on Monday exchanged for N481/$ at the parallel market.

At the Exporter & Importer forex window, the exchange rate hit a high of N412.

The Central Bank of Nigeria recently disclosed that the naira depreciated at the official market to N410 against the dollar.

“In order to adjust for the decrease in the supply of foreign exchange, the naira depreciated at the official window from N305/$ to N360/$ and now hovers around N410/$,” it stated.