The exchange rate between the naira and the dollar fell to N1,040 at the parallel market as demand continues to outpace supply on a frequent basis.
According to multiple reports quoting bureau de change operators inflow range between N1035-N1045 to the dollar suggesting this was due to increased scarcity.
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Meanwhile, the official exchange rate continues to trade at N776.8/$1 highlighting the disconnect between what Nigerians are experiencing outside of official channels.
The exchange rate on the parallel market where forex is sold unofficially broke the N1000/$1 benchmark in September in what some analysts thought was temporary.
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