LIVE UPDATES
The Naira has dropped to N765/$1 just ten days before the new administration is set to take office on May 29.
This was revealed on Friday by Danzali Abdulrahman, a bureau de change operator in Zone 4 of Abuja.
According to him, the purchasing rate for the Dollar on the black market, also known as the parallel market, is N765 to $1, while the selling rate is N745 to $1.
According to him, there is now a strong demand for the dollar. As of Friday morning, we sell for N765 to $1 and purchase for N745 to $1.
In accordance with Exchangerates.org.uk, the average exchange rate was 197 to 1 on May 29, 2015, when Buhari took the oath of office.
It also disclosed that on January 11, 2015, the worst exchange rate was N179.8924 to $1.
But as Buhari is ready to leave office on May 29, the dollar is currently worth N765 to one naira.
