<p class="last-updated">Last updated on February 25th, 2025 at 02:13 pm</p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;">
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<td style="text-align: center;"><img alt="Naira crashes to record low of â¦478/$1 as CBN insists selling over $1 billion to BDCs" data-original-height="418" data-original-width="640" src="https://igettalk.com/wp-content/uploads/2020/11/image-15.png" title="nigerian-naira-dollar-euro-british-pounds-exchange-rate"></td>
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<td class="tr-caption" style="text-align: center;">credit: BuzzNigeria</td>
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<p>The Nigerian Naira crashed to a record low of ;â¦478 to $1 in the parallel market or black market as mostly referred to, on the 18th of this month. It also crashed to ;â¦386 to $1 in the NAFEX window or official exchange rate, while the British Pounds and Euro stood at 620 and 570 respectively to the Naira.</p>
<p>The bottom crash is coming after the Central Bank of Nigeria, CBN, reported having sold over USD1 billion to Bureau De Change operators from September.</p>
<p>The continuous strain on the Nigerian local currency is attributed to heightened demand of the USD for imports and other international transactions.</p>
<p>See also: ;<u>Access bank supports #endsars with 50 billion Naira interest-free loan!</u></p>
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