Economy
Naira Weakens Against Dollar, Trading at N1,169/$
The Nigerian Naira has witnessed a slight decline at the official exchange window, now trading at N1,169.99 to the dollar.
According to data from the FMDQ Exchange, the official trading platform overseeing the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira experienced a 1.38% drop compared to its trading rate of N1,154.08/$ on April 18.
Furthermore, the local currency has depreciated significantly, falling by 17.14% to N1,230 per dollar from its previous rate of N1,050/$ on April 17.
This recent decline marks an end to the Naira’s upward trajectory in the parallel market since March 20, when the FX rate stood at N1,500/$.
These developments come on the heels of the Central Bank of Nigeria (CBN) refuting claims of selling foreign exchange to Bureau De Change (BDC) operators at the rate of N1,001/$1.
-
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