See exchange rates today, as the naira falls further

  • The naira set a new record on Sunday, October 30, 2022, when it crashed to N865 to a dollar
  • Checks by Legit.ng showed that the local currency depreciated that much as Nigerians flooded the market with the local currency
  • Analysts say this is not unconnected with CBN’s plan to redesign the naira as hoarders move to exchange them for dollars

Barely 24 hours after the naira fell to a record low of N800 to a dollar on Saturday, October 29, 2022, the Nigerian currency crashed further to N865 to a dollar on the unofficial parallel market.

Legit.ng findings on Sunday, October 30, 2022, revealed that the black market dealers around Allen Avenue, Ikeja and Ogba in Lagos exchanged the naira at N865 and some cases, N870 to a dollar.