Business

Naira hits record low of N1960 /EUR1 at the black market 

The parallel market exchange rate has experienced a significant decline, plummeting to a record low of N1960 per Euro, driven by persistent demand pressures that continue to erode the currency’s value.   


This marks a notable decrease of 5.36% or N105 compared to the N1,855 rate recorded the previous day at the black market. 


This depreciation stands as an unprecedented occurrence, representing the lowest point in the historical performance of the Naira against the Euro.