NAIRA HAS REACHED A NEW LOW, TRADING AT N714 PER DOLLAR

On Friday, September 23, the parallel market exchange rate between the naira and the US dollar was N719 per dollar.

On the parallel exchange platform Aboki Forex, the current parallel market rate was N719 to a dollar and N880 to a pound.

On the black market on Tuesday, September 20, the naira was valued at N700 to the dollar.

Nigeria's external reserve stood at $38.51 billion on September 21, 2022, a 0.07% decrease from the previous day's figure of $38.54 billion. The country's foreign reserves have been declining as a result of the CBN's constant intervention in the official market to keep the local currency stable.