Naira Rises To N375/$1 At Parallel Market

Nigerian Naira made a shocking gain against the US dollar on Wednesday morning to stand at $1/N375.

The currency dipped slightly against Pounds Sterling and currently costs ₤1/₦471 for sellers and ₤1/₦475 for customers buying. The US dollar is bought at the parallel market at $1/₦370 and sells for an average of $1/₦375 while Euro is bought for €1/₦390 and sold for €1/₦395.

This new development comes amidst the negative impact of COVID-19 on the countries economy.

Meanwhile, in a new development, The Nigerian  Senate has cried out over the escalating debt profile of the country which might increase to  N33 trillion, if President Muhammadu Buhari got approval for the $22.7 billion foreign loan request.