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Naira Sinks to 2,200/£ in Parallel Market Amid Sustained Demand for Pound
The Business NG
|The BusinessNG
The Nigerian naira continued its volatile trajectory this week, plunging to 2,200 per British pound in the unofficial market, as strong demand for the sterling intensified in Nigeria's commercial capital.
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This depreciation reflects heightened pressure on the local currency despite recent central bank reforms and signs of increasing foreign investor engagement.
The naira has oscillated within a narrow consolidation band between 2,150 and 2,250/£ throughout June 2025. Currency traders attribute the sharp moves to increased demand from importers, travelers, and speculators, driven in part by seasonal pressures and ongoing global uncertainties.
Cette histoire est tirée de l'édition The BusinessNG de The Business NG.
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