Economy
Naira Depreciates Against Dollar to End Week on a Negative Note
The Naira ended the week on a negative note, depreciating against the Dollar in the foreign exchange market on Friday.
Data from the FMDQ indicated that the Naira fell to N1483.99 per Dollar on Friday, down from N1481.49 on Thursday. This depreciation of N2.5 follows a brief appreciation on Thursday when the Naira was traded at N1481.49.
In the parallel market, the Naira also weakened, dropping to N1495 per Dollar on Friday compared to N1485 on Thursday.
These developments occurred despite an increase in foreign exchange transaction turnover, which rose to $269.27 million on Friday from $213.31 million on Thursday.
Earlier in the week, the Nigerian government confirmed receiving a $925 million disbursement from Afrieximbank. This is part of a $3.3 billion emergency crude oil repayment loan aimed at stabilizing the country’s forex shortage.
-
Entertainment2 years agoAdanma Luke Appeals for Forgiveness over Junior Pope’s Death: “I’m Gradually Losing My Life, Please Forgive Me”
-
Security News2 years agoRivers: Tension as Gunmen on Speedboat Abduct Fubara, Police Launch Manhunt
-
Security News2 years agoSoldiers in South East Extort, Humiliate Us While Kidnappers Operate Freely Near Checkpoints, Igbo Women’s Group Alleges
-
Politics2 years agoRevealed: Ajuri Ngelale Fired Over Feud with Onanuga, Despite Medical Cover Story
-
General News2 years agoGov. Soludo Seals Peter Obi’s Campaign Office, Edozie Njoku-Led APGA State Office
-
Security News2 years agoEnugwu-Ukwu in Shock: Deadly Ambush Leaves Multiple Dead, Survivors in Fear
-
General News2 years agoVideo: Moment DSS Staff Erupt in Jubilation as News of Bichi’s Sack Announced
-
Breaking News2 years agoJUST IN: Presidential Adviser Ajuri Ngelale Steps Down Temporarily, Cites Reasons