Naira Hits New Low , Trades At N719 To A Dollar


The exchange rate between the naira and the U.S. dollar at the parallel market traded at N719 on Friday, September 23. 

Checks showed the current parallel market rate pegged at N719 to a dollar and N880 to a pound on the parallel exchange platform Aboki Forex.

As at Tuesday, September 20, the naira was pegged at N700 to a dollar at the black market. 

Nigeria’s external reserve stood at $38.51 billion as of 21st September 2022, a slight decline of 0.07% from $38.54 billion recorded as of the previous day. The nation’s foreign reserve has been on a downward trend due to the constant intervention by the CBN in the official market to maintain the stability of the local currency.


Chris Kehinde Nwandu is the Editor In Chief of CKNNEWS || He is a Law graduate and an Alumnus of Lagos State University, Lead City University Ibadan and Nigerian Institute Of Journalism || With over 2 decades practice in Journalism, PR and Advertising, he is a member of several Professional bodies within and outside Nigeria || Member: Institute Of Chartered Arbitrators ( UK ) || Member : Institute of Chartered Mediators And Conciliation || Member : Nigerian Institute Of Public Relations || Member : Advertising Practitioners Council of Nigeria || Fellow : Institute of Personality Development And Customer Relationship Management || Member and Chairman Board Of Trustees: Guild Of Professional Bloggers of Nigeria

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