Naira keeps falling to N400 – $1 in parallel market

The Nigerian Naira tumbled further significantly at the parallel market on Thursday, hitting 391 against the dollar foreign exchange, Friday morning the Naira had fallen to N400 to $1 as the scarcity of exchange rate continues to batter the economy of Nigeria.

The current naira exchange rate

The currency has entered a free-fall mode against the dollar on the black market, having lost 30per cent of its value in less than two weeks.

Meanwhile, Nigerians in diaspora say they are enjoying the fall of Naira as many of them were paid in dollar via their salary arrears.
A Nigerian who base in USA said;

The fall of Naira has helped them a lot as they can now buy land and houses in Nigeria once they exchanged their earnings as they are paid in USA dollars over there